Albert Quay success to spur market

The early success of Cork’s soon-to-be largest office block will spur the commercial property market into life and help alleviate key infrastructural shortcomings in the city, according to a leading consultancy firm.

In May, John Cleary’s development company, JCD Group, struck a deal with property investment firm Green Reit to purchase the office block in what has been seen since as a vote of confidence for the wider commercial property scene in Cork.

The success of the 50,590 sq m development which is more than half let, to PwC and Tyco, despite being months away from completion, will help entice further development in the city centre, according to Colliers International.