In Cork two offices, Buildings 6400 and 6700, Cork Airport Business Park, are fully let and agent CBRE is offering them in two lots on behalf of Henley Bartra.
Building 6400 extends to 46,616 sqft gross floor area (GIA) and is fully let to Amazon CS Ireland Limited at a current annual rent of €756,888. It is guided at €6.75m which reflects a net initial yield (NIY) of 10.2pc.
The lease runs until September 2027. Brian Edwards of CBRE points to the positive indicator that Amazon did not exercise their 2025 recent break option. It comes with 209 car-parking spaces.
Neighbouring Building 6700 extends to 25,805 sqft and is fully let to Red Hat Limited, an IBM company, under three separate leases at a combined annual rent of €412,550. This equates to a 9.4pc NIY based on the guide price of €4m. The leases run until February 1, 2028, and come with a parent company guarantee from Red Hat Inc. It has 123 car-parking spaces.
Building 6400, Cork Airport Business Park
One of Cork’s most established suburban office locations, the business park’s high-calibre occupiers include Analog Devices, BNY Mellon, Aon Hewitt and McKesson.
The properties were constructed in 2006, are finished to a high standard and have a B3 energy rating.
They are offered for sale individually or combined. Tenants not affected.
Meanwhile, a development site adjoining Waterford Airport is being offered for sale with industrial potential.
Agent Cushman & Wakefield is guiding in excess of €900,000 for the plot which is located in Waterford Airport Business Park and is located just 10 minutes south of Waterford city.
The Waterford Airport Business Park site
This 4.5-acre fully serviced greenfield development site is situated on the western side of the airport and is zoned objective ‘CD – Light Industry, Enterprise and Employment’, which also permits accommodation for high technology and manufacturing, among other uses.
It benefits from a positive planning history with permission previously granted for six light industrial units along with three pavement areas allocated for external storage or future expansion. While this planning has lapsed, nevertheless it remains a strong precedent.
David McCarthy of Cushman & Wakefield believes the land provides an “opportunity for a developer or owner-occupier to deliver a high-quality scheme in close proximity to Waterford Airport, which is planned to undergo significant redevelopment in the coming years”.
There are proposals to expand the airport’s existing services, including the addition of a National Aerospace Academy and resumption of scheduled flights.
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