Mahon centre hit by investor’s withdrawal

The future of the Regus City Gate business centre in Mahon, Cork, is in danger as one of the major investors in the project, Cork View One, has been voluntarily placed in liquidation.

Ronald van Bueren, the executive director of Iberpen, the investment company behind Cork View One, was in Cork yesterday to explain his decision to end their investment in Cork after nearly seven years. The company is entering voluntary liquidation and a meeting of Cork View One creditors will be held in the Imperial Hotel on Monday, March 25.

Mr van Bueren said they had come to the decision as the company was effectively subsidising the rent of its Regus tenants.