Substantial mixed-use property in Midleton has €2,750,000 guide price

A substantial mixed-use property investment in the east Cork town of Midleton has come on the market through local agents Cushman & Wakefield Cork at a guide price of €2,750,000. The Distillery Lanes at Main Street is comprised of 11 retail and 10 office units extending to 4,337sq m (46,681sq ft) and an interlinking 261-space multi-storey car park.

The investment is producing a rental income of €236,659 from five retail and four office units. Three of the 12 vacant buildings are currently under offer from traders. The building is anchored by Iceland and Irwin Electrical and the other traders include Ramen, Karen’s Crafts, SunTan, FRS Business Services, Curdane Therapeutic and Pamper Paws.

Séamus Costello of the selling agents says he is expecting considerable interest in the centre because of its income stream, the potential for leasing additional retail and office units and its prime location in Midleton.

The complex was developed in 2006, fronts on to the main street and extends back towards Midleton Distillery. The multi-storey car park links into the office and retail facilities at several levels.

Midleton is a thriving market town 20km east of Cork city with a population of about 12,000.