171 South Mall, Cork City

PRIME & PRESTIGIOUS CORK CITY CENTRE HOTEL DEVELOPMENT OPPORTUNITY

FOR SALE BY PRIVATE TREATY

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71 South Mall - Cork’s Premier Hotel AddressExisting Historic Bank At 71 South Mall

A Prestigious And Imposing Former Banking Hall Fronting Directly Onto Cork City’s South Mall

Situated on Cork’s main thoroughfare, which runs from Grand Parade in the west to Parnell Place in the east.

A striking former bank branch, comprising a terraced five-bay Victorian building, with a double height and ornate ground floor banking hall, built in the early 1880’s.

Approx. 8,863 sq ft gross area to the front and rear, with a striking limestone façade on South Mall, with rear access onto Morgan’s Lane.

Consented 58 Key Boutique Hotel

A High Quality Boutique 58 Guestroom Hotel Designed By Scott Tallon Walker Architects

The consented development comprises a 58 guestroom boutique hotel, comprising a part conversion of the existing bank building at 71 South Mall, along with a part demolition and new build bedroom block extension to the rear and side, with access onto Morgans Lane.

At ground floor level of the proposed development, the scheme provides for a large and attractive restaurant, bar and hotel reception area fronting South Mall and capable of being operated independently if so desired.

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Opportunity To Acquire A Fully Consented Hotel SchemeJLL has been appointed to dispose of 71 South Mall, Cork City, which has a full grant of planning permission for a high quality boutique 58 guestroom hotel, including a unique ground floor F&B offering within a stunning and original double height banking hall.

The scheme offers guestroom sizes between 12.0 and 33.0 sq.m, across both heritage and compact room types. The average room size is 17.0 sq.m.

A breakdown of the hotel accommodation is provided below:

Exciting F&B OpportunitySouth Mall is one of the most popular thoroughfares in central Cork City and at ground floor level, the scheme provides for a large and attractive restaurant, bar and hotel reception area, with the F&B facilities capable of being operated independently, if so desired.

Type Guestrooms

Ground Floor Restaurant/Bar/Reception/ BOH

First Floor 12Second Floor 15Third Floor 13Fourth Floor 12Fifth Floor 6Total 58

Hotel Elevation Directly Onto South Mall Cork’s Best Known Trading Address

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Historic Hotel Performance - Cork

ADR RevPAR Occupancy (%)

Buoyant Cork Hotel Operating MarketThe Cork hotel market has benefitted from growing visitor numbers with a well balanced mix of leisure and corporate demand, boosted by increased airport passenger traffic, which grew by +7.7% in 2016, +3.5% in 2017 and +3.7% in 2018.

Hotel demand has been further supported by numerous high profile new entrants and expansions in Cork’s corporate occupier market, resulting in strong office demand.

As the chart across shows, the Cork hotel market has consistently experienced Occupancy of approx. 80%, with over 85% Occupancy being experienced in the best city center locations, such as South Mall.

In terms of ADR, which has been growing strongly in recent years, the Cork market produced an ADR of €118 in 2018, representing a +7.4% increase on 2017 levels.

With hotel bed night demand continuing to expand and only 1 new hotel (The Dean Cork) under construction in the city, we expect Cork city to remain highly attractive for national and international hotel operators.

Plans for a new Convention Centre in Cork are also expected to boost hotel demand in the future.

Lastly, Ireland now is forecast to have the 2nd highest level of population growth in all of Europe, between now and 2050 (+33%).

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Daniel O’ConnorExecutive Vice President+353 1 673 1609daniel.oconnor@eu.jll.com+353 1 673 1609

Jack FoxHotel Agent+353 1 673 1656jack.fox@eu.jll.com+353 1 673 1656

ProcessOffers are invited for the subject property on an “as is” basis, with the benefit of its recent full grant of planning permission for conversion to a boutique hotel, on a Private Treaty basis.

Further information, scheme details and a site tour can be made available to interested parties by contacting the JLL deal team below.

ZoningThe property is zoned ‘1 - City Centre Retail Area’ under the Cork City Development Plan 2015 to 2021. The property is not listed on volume 3 of the Record of Protected Structures.

BER71 South Mall, Cork BER No. 800604670 EPI: 976.77 kWh/m2/yr 2.43

DISCLAIMERThe material herein is intended as a guide only, no liability for negligence or otherwise is assumed for the material contained herein by Jones Lang LaSalle, its principal or its servants or its agents. No material contained herein shall form the basis of or be part of any agreement and no warranty is given or implied as to the accuracy of the whole or any part of the material. Prospective purchasers/tenants should not rely on the material but should make their own enquiries and satisfy themselves of all aspects of the material.

PSRA Licence No. 002273

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