Plans afoot for R&H Hall relocation
Plans are underway to get the business relocated, and the project will take up to five years to complete.
This was confirmed yesterday by Origin Enterprises, owners of 32 acres of land on Cork’s south docks, which has been targeted for major development.
When fully developed it will accommodate up to 40,000 people in a major mixed development adjacent to the city centre.
Origin boss Tom O’Mahony said the group was committed to the relocation of its provender milling business on two acres of land that will be a key part of the new regeneration of the docklands area, he said.
The company would not comment on its long-term plans for the site that some have estimated to be worth €300m, based on current commercial values for key development sites.
Its first set of financial figures, published yesterday has valued its total land bank, which includes 55 acres in Newhall Co Kildare and a further 11 acres in Kilcock, at €165m.
An internal property management team has been appointed to oversee the development of the group’s overall land bank.
It has full responsibility for the development of all three sites which have significant commercial potential, the group believes.
No decision has been taken on how this process will evolve, said Mr O’Mahony, adding that they could take the shape of joint ventures. However the group could also decide to sell the three blocks of land to developers who would then develop them commercially.
Previously the group felt it lost out in the sale of land sold on at much higher prices, and sources close to the group suggest they are likely to retain a direct interest in the Cork development and possibly in the two other land banks as well.
At this stage “the group has put a comprehensive submission” on the draft Cork south docks Local Area Plan in place in relation to the 32 acres it owns.
That 32 acres accounts for nearly one third of the total development side consisting of 121 acres which runs along the waterfront which is in easy reach of the city centre.
