The developer of One Albert Quay, John Cleary, also confirmed at a breakfast event, hosted by Tyco in the nearby Clarion Hotel, that the specialist fire and security company would occupy 75,000sq ft over four floors of the €50m development.
PricewaterhouseCooperhave been confirmed as second floor tenants.
Speaking at the breakfast event before the Taoiseach turned the sod in torrential rain, Mr Cleary said the joint development with Bam Construction would have positive knock-on effects for the city and help Cork compete internationally.
“I believe this is a very significant project for Cork and it’s very positive to see construction workers on a project of this scale in the city centre and the positive knock-on effect it’ll have. When complete and fully occupied, One Albert Quay will have capacity for up to 1,700 people.
“In the short-term it’ll provide a real boost to the construction industry in Cork, we will have 300 people on the site by the middle of January working very hard to deliver a project of this scale in just 16 months,” said Mr Cleary.
The tight delivery time on what is the biggest office accommodation under construction in the country at present led agriculture minister, Simon Coveney to joke that the government would be grateful to see it completed on time with a general election looming.
Meanwhile, Cork Chamber president Gillian Keating welcomed the development saying it would go some way to providing the type of Grade A office space required to support and sustain recovery in the city.
“With ground broken on One Albert Quay we can see the beginning of the next phase of Cork City’s development. The provision of tier one office space is very much needed and welcomed in the city as evidenced by Tyco’s commitment to putting 500 jobs into the completed building.”
With construction at such an early stage, there has been strong demand for office space in One Albert Quay with the development already more than 60% let.
Speaking to the Irish Examiner earlier this week, Tyco International vice president Donal Sullivan described the decision to move its operations to the JCD (John Cleary Developments) site— including its newly transferred global headquarters — as a chance to do something transformative in the city.