Investments:A tax-efficient office investment with an immediate income of around €650,000 per year is to be offered for sale privately through Cork wealth management company Quintas Wealth Management.
The sale follows the decision by Blizzard Entertainment to lease 3,251sq m (35,000sq ft) in The Atrium office complex adjoining Blackpool shopping centre in Cork. The company,which develops entertainment software such as the World of War Craft, will be paying a rent of €189 per sq m (€17.65 per sq ft) for the office space developed by the Shipton Group.
Only 2,787sq m (30,000sq ft) remains unoccupied out of a total of 18,580sq m (200,000sq ft). This space is available to let at €204 per sq m (€19 per sq ft) or can be bought at €4,251 per sq m (€395 per sq ft).
John Downing of agent Cohalan Downing said Blizzard Entertainment was "bowled over" by Blackpool as a work location particularly as it was so close to good shopping, leisure and restaurant facilities. Savills HOK is the joint agent on the scheme.
The sale of the tax-driven investment is to be pitched at high net worth individuals and will be "privately placed" according to Downing.
