Commercial rents in Cork

I’m looking to rent an industrial premises in Cork.
For various reasons, the unit I rent will need to be close to a well populated suburb.
Rents on units I have looked at vary but a couple of units I am interested in are priced at €10+ per square foot.
What are peoples’ opinions on commercial rents i.e. is there a formula for deciding what is good value in commercial rent?
If I were looking at a residential property, I would bear in mind average salaries, rental value etc. (thanks to everything I have learned on this forum) but I am not sure how to gauge the value of commercial rents.
Any advice appreciated, thanks.

If you are renting one of the newer (Read built since the beginning of the boom say 1997) then you may be dealing with a modern landlord who expects you to pay “what it’s worth”.

However there are a number of old style, industrial premises located near the city, but maybe not right in the heart of the action that are owned by some older style landlords and you can possibly obtain the property at a much lower rent than what you mention. Many of these properties are not advertised, they probably haven’t received paint or maintenance in the last 10 years other than what might have been done by a previous tenant.
These places are probably not even advertised.
Walk around where you think that you would like to rent,
Make enquiries of places that you identify as possibly suitable and make a direct approach to a landlord with a fair offer.
Agree a deal with the landlord.

The value of the commercial rent is that which is going to be reasonably agreed by both sides working willingly in the market. At the moment it appears that you are only entering the market from one side, i.e. the landlords side but your missing the opportunity of other landlors who may have suitable properties at a better cost which are not advertised.

I know of a lot of these places in some of the other towns, e.g. mallow, macroom etc.

Hmm…interesting. Thanks. I hadn’t thought about doing that although, to be honest, I have felt that there are fewer commercial properties on Daft than I would have expected. Perhaps some landlords are waiting for people like me to knock on their doors as you suggested!
I am looking at industrial units in, say, industrial estates or business parks. Not looking at office or retail.

Take a look down around the industrial estate behind the RH Hall Building - parallel to the river heading towards blackrock. I think I’ve seen advertisements for 1 euro / sq foot for first month etc…you might be able to wrangle something. Cork is tiny, you’re always near the suburbs, especially via the south link…

Oi watch it! Tis the largest county we have :wink: