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Street With Hotel And Food And Drinks Venues In Cork City Suburb Of Douglas Sold

Published on Sep 17 2021 9:12 AM in General Industry tagged: Trending Posts / Cork / Douglas / East Douglas Village

Street With Hotel And Food And Drinks Venues In Cork City Suburb Of Douglas Sold

A street with a hotel and food and drinks venues in the Cork city suburb of Douglas has been sold for approximately €11 million.

As reported by The Irish Examiner, East Douglas Village is a close to 100% occupied gathering of five buildings with rent roll of €760,000 per annum and includes 16 apartments, a bar/restaurant with a 10-bedroom hotel, apartments, three restaurants, offices and retail space.

Sale Details

The property reportedly hit the market in April of this year via Lisney Estate Agents for €9.5 million and it is reportedly understood that the purchaser is a private investor and that deal is over the line.

It is reportedly also understood that East Douglas Village made more than 10% over the €9.5 million guide price, but Lisney Estate Agents have reportedly declined to confirm any details of the transaction, which investment market sources reportedly say was closer to €11 million after competitive bids.

This sale reportedly comprised most of the entire East Douglas Village scheme, but reportedly excluded three apartments and unit five in Holbar House.

© 2021 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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