Savills has announced the launch of 83-85 Patrick Street, on Cork's premier retail thoroughfare.

Currently configured as three terraced buildings, with small individual footprints, Davy Real Estate has secured planning permission to amalgamate all three buildings, creating one modern, fit for purpose retail building.

The original façade of all three buildings will be retained, but significantly enhanced, along with a new granite & extensively glazed shop front onto Patrick Street, with return frontage onto Careys Lane. The interior of the buildings will be entirely demolished and rebuilt with a new steel frame structure, purpose built to meet retailer specifications.

On completion, there will be two floors of modern retail accommodation with two additional floors of back-up office accommodation overhead. The location of the property is about the best you can get on Patrick Street, evidenced by the strong take-up of nearby retail buildings by a mix of International Retailers over the past two years, including Superdry, Pandora, Vision Express, Holland & Barratt, Hairspray, Skechers, Specsavers amongst others.

No’s 83-85 is situated close to the new Superdry store (Savills has also agreed a letting on the rear of this building), Opera Lane (where three recent new lettings have concluded with another in advanced legals and once completed, Opera Lane will be fully occupied).

Also nearby is the new Capitol retail & office development by John Cleary Developments (JCD), which is currently under construction and due for PC next January. The Capitol will provide over 9,300 sq.m. of Grade A retail and office accommodation on Patrick Street.

Addressing the current shortage of retail space in this size category on Patrick Street (which is evidenced by the lack of similar sized properties available), No’s 83-85 Patrick Street will provide over 260 sq.m. of retail over two floors, with c. 520 sq.m. in total. The new building will provide lift and stair access to all levels, satisfying retailers demands in terms of access.

Leigh Hegarty of Savills commented:

“We expect strong interest in this property from an extensive list of active national and international retailers with current requirements for larger floor plates on Patrick Street.”

Construction is expected to start in the coming weeks with an estimated build period of 9 months, so possession could be delivered by March / April next year. A new lease is on offer and Savills is quoting an annual rent of €275,000 per annum for this exciting new retail opportunity.