Work on site clearance for a €20 million office development in Cork City Centre commences next month at Camden Place, facing the Opera House, with letting agents Cushman and Wakefield and CBRE (who are about to open a dedicated Cork agency office) about to jointly market the five storey project.
Site clearance and demolition work starts February, with contractors soon to be confirmed, behind the retained 19th century facade of the Italianate structure which previously served as a garden centre, and a temporary courthouse, as well as an arts venue, in recent decades.
The 65,000 sq ft of lettable space in the development, for which planning was granted without recourse to An Bord Pleanála, will deliver 150 jobs during the construction phase, and accomodate up to 500 office workers when completed by the first half of 2018.
The investment by Stone Work Properties, which owns the building, will be a welcome return of cranes to the north channel skyline, to a design by award-winning Cork architecture practice Boyd Barrett Murphy-O’Connor, who say “it will lead to the rejuvenation of the city’s northern quays,” as well as tying in with a significant pending private investment of up to €15 million nearby, across a range of investments in the emerging ‘Victorian Quarter,’ reaching out from MacCurtain Street.
The Stone Work Properties Ltd scheme, a minute from Patrick Street, effectively takes in most of a city block behind the Venetian-style façade, leading back into 21st century glazed exterior and will have large floor plates, ranging from 9,000 sq ft to 16,500 sq ft, a size favoured by tech and FDI sectors.
The 65,000 sq ft building will be delivered to global LEED environmental accreditation standards, incorporating efficient and sustainable energy delivery, and rents are likely to be in the region of €27.50 a square foot.
It’s within a five minute walk of the bus station, 10 minutes from the rail station and up to 100 car parking spaces will be provided to the development’s tenants at the adjacent Carrolls Quay multi-storey car park.
Minister for Housing, Planning and Local Government, Simon Coveney TD, visited the Camden Place site in advance of work commencing and welcomed its redevelopment as strengthening Cork as a key location for global commerce, saying it was “very welcome news for Cork city, which has emerged from the downturn as a global centre of commercial excellence.
It will cement the city’s position nationally and internationally as an attractive location for multinational and indigenous enterprise.
Developments, like this one at Camden Place, will ensure the Cork region not only attract, but retain, investment, business and jobs.”
Joint letting agents are Cushman & Wakefield, with CBRE. The appointment is a significant one for CBRE, who are due to set up their first Cork city offices in the coming months, to be headed up by Denis O’Donoghue, and Brian Edwards, who’ve worked with other international real estate agents in Cork.
Seán Healy, director at Cushman & Wakefield’s Cork offices described Camden Place as “an ambitious project that will redefine Camden Quay and encourage further investment in the area.
The new offices will attract global corporates as well as local businesses.” CBRE director Alan Moran added that the €20m scheme was “a statement development for Ireland’s second city. We see the new building as being symbolic of the resurgence of the city’s quays as active centres of commerce and the ambition of people to have an excellent work/life balance.”
Details: Cushman & Wakefield 021-4275454 CBRE: 01-6185500
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