Two apartment and office investments in Cork city are fresh to the property market this week.
Joint agents CBRE and Cushman & Wakefield are quoting more than €15.5 million for Copley Court, a student accommodation and office investment in the city centre. Its two blocks contain 37 student apartments, 4,000sq m (43,055sq ft) of commercial space, and 60 parking spaces. The Copley Street complex, a short distance from St Patrick's Street, is producing a rent roll of €1,220,900.
The other investment, called Leeside Apartments, which is guiding €7.75 million, is used as private rented residential and student accommodation. Located a stone's throw from the city centre on Bachelor's Quay overlooking the river Lee, it contains 78 apartments in five adjoining blocks in a mix of one-, two-, three- and four-bed units.
The complex also includes 32 parking spaces, is 87 per cent occupied, and produces a rent roll of €676,600 per annum.
Cork city has seen strong residential rent increases over the past 12 months. Both investments are close to UCC, CIT, the Cork School of Music, the Cork College of Commerce and St John’s College.
