The Half Moon Street development in Cork city has gone on the market with a price tag of €34 million.

The property, owned by O’Callaghan Properties and situated in the city-centre at Lavitts Quay, was developed in 2009 by the firm.

The asking price reflects a yield of over 7% for the 119,589 sq ft building, designed by Wilson Architects.

Apple and Boots pharmacy are among the current tenants in the building, which is a mixed use development.

At present Apple is paying €22 per sq ft for the office space it is leasing.

As a result, the sellers think there is substantial potential for the new owners to achieve a higher rent, as similar office space in Cork has reached €32.50 per sq ft.

Other retail space in the block, which is not currently let, could also provide additional revenue, the agents say.

The sale is being handled by Savills and CBRE.