By Catherine Shanahan, Deputy Property Editor,Irishexaminer.com

Copyright irishexaminer

The Mannix sale marks the end of an era for a family business started by the late Dónal Mannix, whose string of city centre properties have come to market following his passing last March.

All bar one of the properties are on Castle St, while the remaining unit is at 58a St Patrick Street, next door to the Tom Murphy menswear store.

A store at 40-42 Washington St called Mannix and Culhane, which closed in March, is not part of the portfolio and is in separate ownership.

The exit of the old guard — known for its traditional and formal wear pieces — coincides with the arrival of trendy US fashion brand Urban Outfitters, which has just opened its first Cork store at No 101 St Patrick Street.

Combining own-brand pieces with vintage items and designer ranges, as well as lifestyle accessories, it will fill the high street void left by the closure in 2019 of Dorothy Perkins-Evans womenswear store.

The deal that will breathe new life into the historic property — formally a Methodist church — was brokered by Lia Dennehy of Savills, who reached out to Urban Outfitters agent McDevitt at a Completely Retail marketplace event in London three years ago.

Ms Dennehy had been instructed by the building’s landlord, Cork-based MC2 Accountants, in 2022, but first had to overcome legacy issues caused by the collapse of the Arcadia group, which owned Dorothy Perkins-Evans.

MC2, which had the building restored, said: “Urban’s vintage style fit-out suits the property very well.”

“They are a welcome addition to Patrick St and we are confident the shop will be a big attraction for Cork shoppers,” said MC2 partner Jim McCarthy.

The agreement will see Urban Outfitters lease the building for the next 10 years in a base rent plus turnover-linked deal. The base rent is €175,000pa, and any top-up is dependent on turnover.

The store — only Urban’s second in Ireland (the other outlet is in Dublin’s Temple Bar) spans over 5,000sq ft across two trading floors.

Ms Dennehy said securing such a notable brand was a “vote of confidence” in St Patrick Street, and that shoppers should “vote with their feet and support our main shopping street”.

She said: “People give out about the city centre, but what needs to be driven home is that if we don’t go into the city, shops won’t survive.

“I know there’s a lot of negatives in the press around anti-social behaviour, but it’s not unique to Cork city. We need to change the tone about the city and stakeholders need to be more positive and come in and spend money,” said Ms Dennehy.

The Savills agent is also working on finding replacement tenants on Opera Lane for UK fashion retailer New Look, which left the premises in February, while she has just agreed terms with a new tenant on Unit 2, Queens Old Castle, a substantial premises on Grand Parade, near Daunt Square, which has been empty since UK catalogue retailer Argos closed its doors in 2023.

Meanwhile, Ms Dennehy’s Savills colleagues Peter O’Meara and Daire Brennan are handling the estate sale of the 10-unit Mannix portfolio and said there is “huge interest”.

“We only put it on the market last week and we’ve about 20 viewings and offers on some of the properties,” said the agents.

The properties include:

20a-24 Castle St, a commercial opportunity, for sale as separate lots or as an entire lot;
Lot 1 is No 20A, with 36sq m (388sq ft) of ground floor retail and an overall size of 114 sq m (1226 sq ft), on the market for €145,000 excluding Vat;
Lot 2, units 21-24 Castle St, has two elements. Nos 21-22, listed as a protected structure, including ground floor retail of 76sq m (815sq ft) with sizeable overhead accommodation, including five bedrooms. Total size is 196sq m (2,110sq ft);
Nos 23-24 are also retail/residential, with ground floor retail extending to 145sq m (1,556sq ft) and an overall building size of 386sq m (4,157 sq ft). The overall guide price for Nos 21-24 is €900,000;
Lot 3 is the entirety of the properties listed above, for sale with a guide price of €1.045m, excluding Vat;
Nos 3 & 4 Castle St are available to buy or to let. Mr O’Meara describes them as “two prime ground-floor-only commercial units, conveniently located at the busy junction between Cornmarket St, Paul St, and Daunt Square”.

No 3 (27sq m/293sq ft) has full permission for cafe use, while No 4 (41sq m/443sq ft) has permission to trade as a retail store. The guide price for the entirety is €385,000. For those interested in renting rather than buying, the rental guide is €20,000pa for No 3 and €17,500pa for No 4.

Mr O’Meara said interest in these two units is “mainly owner occupiers”. He already has an offer on 58a St Patrick Street, which is also available to buy or to let, with a guide price of €425,000 and a rental guide of €40,000pa. The unit includes ground-floor retail and storage at mezzanine level. Total area is 88sq m (949sq ft).

For the properties available to let, Mr O’Meara said that “if we let them, we will sell the investment”.

Also for sale are Nos 16-17 Castle St, listed as a protected structure. Ground-floor retail extends to 135sq m (1,448sq ft) while the upper floors include reception rooms and a total of 13 bedrooms across both properties. The guide price is €550,000.

Mr O’Meara said the buildings were “in varying states”, with some refurbishment done, but more to do.

“They offer significant regeneration opportunities at a time when there is a push to encourage living over the shop,” said the agent.

Among those looking at the Mannix properties are owner/occupiers; developers who are looking at them “in terms of doing them up and letting them out”; as well as members of the building trade who are looking at regeneration opportunities.

Changes to the city’s retail landscape extend beyond the Mannix exit and the entry of Urban Outfitters.

On Oliver Plunkett St, Cohalan Downing’s Margaret Kelleher has secured a new tenant in the former Benetton premises at No 46. Replacing the global fashion brand is Ace & Tate, a Dutch eyewear company with an existing unit on Exchequer St in Dublin. The yearly rent at No 46 is €60,000.

A few doors down, No 39 is fresh to let.

Previously home to BPerfect Cosmetics, the entire self-contained, mid-terrace building (156sq m (1,682sq ft) with retail at ground and first-floor level (94sq m (1,010sq ft) and staff/storage accommodation overhead, is available to rent via Ms Kelleher for €45,000pa.

DETAILS: Mannix Portfolio: E: Peter.OMeara@savills.ie or Daire.Brennan@savills.ie T: 0212355021

DETAILS: No 30 Oliver Plunkett St: E: mkelleher@cohalandowning.ie T: 0214277717.