Sale nets city €10m and free parking

A LOCAL authority has made €10 million profit and secured free all-day staff parking for 999 years from the sale of a landmark quayside building to a property tycoon.

The news emerged as Cork’s city councillors debated the disposal of Navigation House on Albert Quay for €9.2m to developer Owen O’Callaghan’s company, O’Callaghan Properties.

The building was bought by the city more than five years ago, housing its planning department while a surfaced lot, to the rear, provided parking spaces for up to 100 City Hall staff.