January 9, 2018

HWBC advises Real I.S. on acquisition of Marks & Spencer, St. Patrick's Street, Cork

HWBC was delighted to advise Real I.S. on their latest acquisition in Ireland; Marks & Spencer on St. Patrick’s Street in Cork.

The 71,000 sq ft store is located in the heart of Cork City Centre and has access to both St. Patrick’s Street and Merchants Quay Shopping Centre. The property is let in its entirety to Marks & Spencer with almost 70 years unexpired on the lease.

‘Along with its excellent location in the centre of Cork, the property is distinguished through Marks & Spencer (Ireland), a tenant with a high credit rating and a long-term lease’, says Jochen Schenk, member of the Board of Management of Real I.S. AG. ‘In addition, the tenant is responsible under the rental agreement for the entire maintenance of the building’, explains Schenk and adds: ‘With the purchase… we significantly expanded our retail share in Ireland’.

Read the full press release here.

Press coverage here.

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