Savills have been instructed on behalf of a private investor to sell Building 3200 Cork Airport Business Park with the benefit of the existing tenant in place.

Cork Airport Business Park is located approximately 5kms south west of Cork City Centre. The Park provides excellent access to all the main local, national and international routes and is recognised as Cork’s premier business destination. It is a superb office location adjacent to Cork International Airport.

The business park is a popular choice for high profile office tenants in Cork. Occupiers such as Amazon, Citco, Red Hat, Stanley Black & Decker and BNY Mellon have all chosen to locate here.

Building 3200 is a two storey detached office building extending to approximately 1,950sq.m (20,990sq.ft) with 83 surface car parking spaces. Utilised by the current tenant as a data centre and office space. The occupiers have invested in a specialised fit out bespoke to their unique requirements.

The ground floor comprises reception, data centre, UPS system, meeting rooms, open plan office and canteen area. The first floor is in use as meeting rooms, training rooms, post room, testing area and open plan offices.

The property is let in its entirety to Irish Life and Permanent plc. on a full repairing and insuring lease. The lease is for 20 years from the 1st July 2002, with a tenant break option 30 June 2017.

The current passing rent is €325,000 per annum with the next rent review due 1st July 2017, which is subject to market rent.

The guide price for the property is €2.25 million representing a net initial yield of 13.83% and €107 per sq ft.