Property Occupied By O'Flynn's Gourmet Sausage Company In Cork City Hits The Market
A property that is occupied by O'Flynn's Gourmet Sausage Company in Cork city has hit the market via commercial and residential property firm Savills.
As reported by The Irish Examiner, the property, which is located at number 14 on Cork's Winthrop Street, has a €950,000 AMV, and is four-storeys and 1,1516 square feet in size.
The property is reportedly being offered with approved food use by Cork City Council, and is reportedly being sold with its tenant in place.
The family-owned O'Flynn Food Company, which operates both dine-on-site and takeaway services at the property, is reportedly on a 20-year upward-only lease that began in February of 2010 at a passing rent of €70,000 p.a., and the investment sale reportedly equates to a NIY/return of 6.74%.
Savills Estate Agent Statement
Savills estate agent Chris O'Callaghan reportedly said that the sale of the property offers investors "the potential to secure a property with a superb pitch and profile, over eight years income certain, an upward only rent review clause, and a tenant that continues to grow and expand their business."
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