By Irishexaminer.com,Property Editor Tommy Barker Reports

Copyright irishexaminer

Highest profile is the gable fronted 5 Victoria Rd, between the Cork City base of St John’s Ambulance and the very popular Goldbergs bar, backing onto the Navigation Square office campus site being completed by O’Callaghan Properties, who also have a major mixed use development with planning in place on the facing Kennedy Quay, with scope for up to 1,500 residential units.

Also in the same city block behind Albert Quay is the JCD Group former Sextant Bar/Carey Tool Hire site, where clearance has started for a 217 apartment development in a 26 storey tower facing the Elysian, with Clúid and Cork City Council.

Owned for decades by the Browne family who have a furniture/joinery and design business, more recently used as an office, art gallery, and storage, 5 Victoria Rd is an attractive three bay, double height ex warehouse of 5,500sq ft at ground, with 1,140sq ft at mezzanine level and 2,600sq ft rear yard.

It secured planning in 2018 for a 40,000sq ft development with cafe, restaurant, and apartments, with a section up to 10 storeys by Navigation Square, now lapsed.

Guiding at excess €975,000, Siobhán Young, director with Cushman & Wakefield said: “The South Docklands will be the focus of city centre development over the coming years with the delivery of apartments at The Railyard on Albert Quay and the mixed use development at Kennedy Quay, which is in receipt of planning permission and expected to commence shortly.

Five Victoria Rd is strategically located between both of these sites and provides for an attractive city centre development opportunity suited to a variety of uses, including residential which it previously had planning permission for.”

Sold recently on the same strip was the 4,000sq ft, 1 Victoria Rd, former offices of Doyle Shipping Group, making over €1m, and acquired by businessman Packo Maguire of Abbeyside who owns the adjoining former Port Bar where he got a planning refusal for apartments in the past year. Mr Maguire is likely to make a new application for those properties.

Meanwhile, Cushman & Wakefield agent Sean Healy is selling a 1.73 acre site on Monahan Rd currently occupied by a container/portable building business with a short term tenancy earning €72,000 per year.

Guiding at €3m, Mr Healy describes the 1.73 acre site as having “a strong commercial profile with substantial frontage to the Monahan Rd, with excellent access to the City Link Road network”. It’s zoned “new residential neighbourhoods” in the 2022 Cork City development plan.

The same agent recently sold a former warehouse on Monahan Rd for €3m, with recent five-year grant of permission for change of use to sports and leisure to David Farrell and Tim Murphy of Hazelpath for five padel courts and hot and cold therapy rooms.

Details: Cushman & Wakefield 021-4275454, cushwake.ie.