(IWI) Secure Deloitte & Touche offices in Cork City centre for €4m

(20 Sep 2013)

IWI 6 Lapps Quay Thumbnail0Richard Coffey Managing Partner of Ireland World Investments ( IWI) said “he was delighted to secure the modern high profile office investment within the prestigious Lapps Quay Development on behalf of private clients”

Margaret Kelleher of Lisney`s and Peter O`Meara of Savills were  the joint selling agents for the property. Mr Coffey said that "Ireland World Investments (IWI) made an offer on the premises in early March 2013 after an initial higher offer from another party was withdrawn.

The prime investment property is let to Deloitte & Touche on a long term lease with an annual rent roll €422,264 p.a. The property is let on a lease for 20 years and 1 day from 1st September 2005.

Located in the city centre on Lapps Quay adjacent to South Mall, Parnell Place and the Clarion Hotel and opposite Cork City Hall. Neighbouring occupiers on Lapps Quay include Bord Gais, Sherry Fitzgerald, DTZ, Fitzgerald Solicitors and The Waterfront Business Centre.

The investment comprises the fourth and penthouse floor of this five storey purpose built office building. Features include raised access floors, category 2 lighting, air conditioning, carpet tile flooring and large balcony at penthouse level. Lift access from reception lobby to upper floors.

Mr Coffey went on to say " that foreign investors and international funds were now looking to Cork as the city has a number of strategic advantages that continue to be translated into further opportunities for growth and development. The city has a thriving commercial, social and cultural sector that has a well balanced economy that has attracted many major companies to the area."

Diarmuid Mawe, Head of Corporate law in  Maples and Calder, the leading international law firm, based out of St Stephens Green in Dublin acted on behalf of the purchasers.

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