One, Blarney Business Park, is industrial and is very active on site; the other is future residential development potenail, at Stoneview, and both adjacent sites by the N20 were first ear-marked for key infrastructure needs, critically served by an existing rail line, as far back as the early to mid-2000s.
Both Stoneview and Blarney Business Park were hit by the economic and property crash, with Blarney then a part-developed project, while Stoneview’s first planning foray, for up to 3,000 homes, hit its first planning hurdle with Cork County Council in 2007, and then stalled.
Blarney’s Business Park is now back with a bang, with 100 new jobs in a manufacturing facility for US essential oils maker doTERRA confirmed by the IDA last month. The company is conducting a €10m fit-out, with the jobs set to flow then over several years. The park also attracted two new tenants last year, GLS and ILC Dover, with the latter also having a manufacturing function.
And, over 100 acres of future development land left over from the Stoneview ‘new town’ campus plan is expected to come to market for Nama at the end of the summer, at a multi-million euro sum, in one lot.
Initially backed by a trio of developers, John Bowen, John Fleming and John Coleman who assembled hundreds of acres for a new town, a substantial segment of the Stoneview lands (105 acres) had been expected to come for sale this month as a medium-term development play. But, this anticipated release was deferred once more by Nama, due to Covid-19 uncertainties.
Meanwhile, Cork’s most active and increasingly diversified developer, John Cleary Developments (JCD) Group, is continuing its roll-out building at the rejuvenated Blarney Business Park: it is spending tens of millions of euros, after buying the 50 acre undeveloped section of the park three years ago for an unconfirmed €2m.
It has commenced site enabling works on a new 100,000 sq ft high-bay building, for which planning permission has been secured. JCD Group has also completed a 12,500 sq ft industrial building, capable of manufacturing/distribution use on the Blarney campus which has a dedicated access to the N20, walking trails, high-security features and proximityi.
And, it is completing a substantial 60,000 sq ft building, one of the very few ‘spec’ industrial/warehouse buildings in the greater Cork market.
Letting at €8.50 psf, it’s due for completion in August, has six dock levellers and clear internal heights of 12M. It can be subdivided into two 30,00 sq ft units, or 20,000 sq ft and 40,000 sq ft.
Denis Mulcahy, who is senior portfolio manager with JCD Group says that “given Blarney’s proximity to the proposed Stoneview railway station and Park and Ride it has the potential to become a key employment hub for the new enlarged city.”
JCD started building warehousing and industrial projects over 20 years ago, most notably by Blackpool at the likes of North Gate, and since has developed over 1.5 m sq ft, spanning offices, retail, industrial and has data centres and PRS residential projects in the wings.