The son of the highly regarded painter and set designer Frank Sanquest, he was one of the most prominent figures on Cork’s artistic circuit for many years.
Mr Sanquest, 71, was the first manager for music legend Rory Gallagher and Taste and was a director and producer of two Tops of the Town wins.
In his earlier years he was a lecturer at the Crawford college of art and design and he set up his own advertising company and later was a shareholder in RSVP magazine.
He lived in Douglas and was only formally diagnosed with cancer on Thursday.
On Friday he watched an RTÉ Nationwide feature, which focused on his work creating a national portrait collection in Fota House, from his bed in CUH.
He fell asleep shortly afterwards and was moved to Marymount hospice where he died yesterday afternoon.
As part of his charitable work he is believed to have helped to raise €250,000 towards Cork cancer research through shows at the Cork Opera House.
His long-time business partner, Michael Mulcahy, said Mr Sanquest will leave a creative, cultural and business legacy.
He is survived by his wife Martha, daughters Witny and Rosa and an older son.
“His passion and his love of all things Cork, and his great mantra that ‘the show must go on’, will remain with us and guide us into the future,” Mr Mulcahy said.