Three bids shortlisted for €150m-plus Cork Event Centre
Cork City Council is carrying out a multi-phase bidding process for the Cork Events Centre.
The Cork events centre project has taken another step forward, with three proposals for the project being shortlisted by consultants overseeing the process.
In April, Cork City Council began a suitability assessment questionnaire (SAQ) process, the first of a two-stage process of procurement for the events centre.
The long-stalled project is valued at €150m and is seen as a key requirement for Cork to attract major concerts, events, conferences, and attractions.
Three separate consortiums have expressed an interest in developing an events centre and entered the SAQ process.
• Developer Tom Coughlan is proposing a 4,000 to 5,000-seat venue at his Marina Market food hall in the Cork Docklands. His proposal is backed by Australian asset management and banking giant Macquarie and live entertainment firm AEG.
• Bam is continuing with its long-term proposal to develop an arena on the city’s South Main St with the support of concert giant Live Nation.
• Cork GAA has also submitted a bid. It has partnered with Canadian real estate firm, the Shenkman Group, with plans revealed for an 11,000-capacity venue on the 4G pitch at SuperValu Páirc Uí Chaoimh.
The understands that all three proposals have passed the SAQ phase ahead of the issuing of formal tender documents expected before the end of the year.
The value of the contract for the construction element of the Cork Events Centre will be in the region of €150m to €200m.
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The purpose of the SAQ was to identify suitably qualified and experienced consortia with the capability to build, partially fund and operate a project of this scale and complexity.
International consultants Aecom, who have been involved in similar events centre projects in the UK, are overseeing the bidding process on behalf of Cork City Council.
The Government has approved a detailed business case for the centre, which has been described as a vital infrastructural project to help safeguard the future of the city centre, but which has been hampered by setbacks and controversy.
The events centre was first approved in 2014 when a tender for €20m of State aid was awarded to Bam Property and Live Nation. In 2016, then Taoiseach Enda Kenny turned the sod on the development, which at the time was on track to host concerts and conferences by 2018. However, that version of the project did not proceed due to design change requirements and delays.
It is expected that the successful tenderer will have to provide at least 50% of the capital funding for the events centre, while operation, maintenance, and lifecycle costs will continue to be met entirely by the successful tenderer.
Previous documents described the events centre as a "high-quality, multifunctional civic venue that is actively used, valued by local communities, and supportive of local employment."
It will be marketed on an international level and should “demonstrate a standard of quality comparable with leading event and convention facilities elsewhere”, it said.
In terms of the site location, Cork City Council specified that prospective tenderers will need to ensure proximity to Cork city centre and have strong connectivity to existing public transport networks.
“The availability of essential infrastructure such as utilities, road access, parking, and digital connectivity will be considered,” it said.
Potential bidders were told to consider how the centre will support job creation, bring benefits to the community and encourage economic growth as well as environmental and social considerations.
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