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Crafted by 4Property.

Unit 3, Fairgreen, Mallow, Co. Cork


Price
€1,750,000

Type
Office

Status
For Sale

BER
BER
B3

Area
976 sq.m.

EPI
0 kWh/m2/yr

Description

Key Features:
Three storey office building extending to 976.4 sq mts (10,510 sq ft), built to CAT B standard.

FRI Lease with a passing rent of 105,100 per annum.

The property is let in its entirety to the OPW (Office of Public Works) under a 20 Year Lease which commenced January 2022. 5 Yearly Rent Review Provisions.

Underground Parking for 18 cars.

Excellent Town centre location, adjoining occupiers include Dunnes Stores & Mallow District Court.

Guide Price: 1,750,000

About this property
This three storey property measuring 10,510 sq ft is of modern construction, built in 2006 to a high specification. It has a pitched slate roof as well as a flat roof section. The exterior facade is a mix of cedar cladding & smooth render. The Office of Public works lease the building in it's entirety. Internally, the property has been fitted to a very high standard by the current lessee. The first & second floors of the property are accessed by a dedicated lift which is managed & maintained by the tenant.
The property forms part of an overall development at Fairgreen, William O'Brien Street in the centre of Mallow town. The overall complex comprises of 61 residential units, retail, offices & a theatre owned & run by Cork County Council. Underground parking facilities are provided for 72 cars.

Local information
The property is located in Mallow town, commonly known as the Crossroads of Munster. Mallow has excellent road, rail & bus connections to Cork City, Limerick & Dublin. Mallow has a large hinterland and thriving industrial base.

Additional information
Specification and Features
- Fitted to a very high standard.
- Passenger lift.
- Suspended ceilings.

Lease Details
The property is let in its entirety to the OPW (Office of Public Works) under a 20 Year FRI Lease which commenced January 2022. 5 Yearly Rent Review Provisions. Passing rent of 105,100 per annum.
The OPW has been in occupation in the first & second floors of this property under a historic Lease initiated in 2011.
The Office of Public Works is a major Irish Government Agency, which manages most of the Irish State's property portfolio, including hundreds of owned & rented Government office and police properties. It's parent department is the Department of Public Expenditure & Reform.
All service charges & rates are paid by the tenant.
Sinking fund charges paid in advance by the landlord but recoverable from the tenant on demand (current sinking fund annual charge is 2,721.26)

Accommodation Comprises of:

Ground Floor Offices 273.70 sqm 2,946 sq ft
First Floor Offices 351.35 sqm 3,782 sq ft
Second Floor Offices 351.35 sqm 3782 sq ft

Viewings
Viewings by appointment with the Joint Letting Agents.

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