A planning green light has been give for a 25 storey apartment tower in Cork city has just been approved for the Sextant pub/Carey Tools site in Cork city centre, sandwiched between two major office developments.
Developers, the JCD Group, got the go ahead for the build-to rent tower for over 200 build to rent apartments, plus bar and restaurant, via a fast track planning process from An Bord Pleanala, subject to 31 conditions. Rents are likely to be as high-end as the building itself, up to and over €2,000 a month to make the project financially viable.
One of the conditions stipulates that the apartments are for long term rent only, and another says they cannot be sold off individually for a period of at least 15 years. Seven observations were made on the planning application to the Board, two in favour, with a number raising issues of height and impact on skyline.
The site is alongside the 17-storey Elysian, which got its planning permission nearly 15 years ago, without any third party objections and it had stood for a number of years as Ireland's tallest building, a title it only lost two years ago.
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The Sextant site is the second tall apartment tower to get planning in Cork in recent months, following on after the grant of permission for a 17 storey tower on the South City Link Road, called Railway Gardens.
Now, if there's a race to get the first purpose-built Built to Rent tower up and occupied, the betting may well be on the JCD Group, given their existing track record in construction in the city, with One Albert Quay, the Capitol and Penrose Dock to their credit.
The 201-apartment scheme proposes demolition of the Sextant bar, which was closed down last year in advance of the site's development: JCD acquired the site from the Carey family for an unconfirmed €7m, and they'll relocate their business to a JCD site by the Kinsale road.
The site fronts Albert Road, Albert Street and Albert Quay and includes a protected structure, the one-time rail Terminus for the Cork-Blackrock & Passage Railway. The Sextant is not a protected structure.
The development comprises 201 apartments, 95 of them one-beds, 102 two-beds and four three-bed apartments.
Developers JCD today welcome the grant of approval for their lofty apartment tower plans and said the decision "confirms the location as being appropriate for an iconic landmark building, while ensuring the appropriate conservation and restoration of the historic listed buildings on the site."
To be built over two basement levels, the Henry J Lyons-designed tower will include a 25th floor residents’ lounge and dining area, coworking space, gym, games room,hundreds of bike spaces and electric car charging points, as well as GoCar facilities.
Developer John Cleary commented "we are delighted with the decision of An Bord Pleanála and believe that it is a landmark decision for the development of Cork’s docklands. I would like to thank our design team who have worked very hard on what we believe is an extremely high quality design and is appropriate for this very important site and look forward to progressing the project.”
He added there would be "significant investment" in the protected and historic former rail station structures 2to restore them to their former prominence. This investment will bring renewed vibrancy and ensure the long-term viability of these important buildings."