The seven-acre site on the bay, by the top tourist town’s busy bypass road, has just been bought by Lyonshall, a company associated with solicitor and developer Kieran Coughlan.
It includes three recently developed award-winning buildings, apartments, a plaza, and a feature ‘whale-tail’ sculpture.
The land was to host a circa €40m 60,000sq ft commercial and 150-unit residential mixed development, including an Aldi, anchoring a three-storey building. Lidl subsequently opened across the Inchydoney Rd in September.
The Waterfront site lent its name to Clonakilty’s successful annual December marathon, helping developers Hillback win a national LAMA ‘Developer of the Year Award’ in 2010.
It went to market in March of this year with agents Lisney, guiding €1.2m and attracting local, national, and international/Asian inquiries, and up to six bidders.
Key to its future will be a redesigned Aldi store of 20,000sq ft, a second 12,000sq ft retail building and, subject to local GP support, a HSE Primary Care Centre.
Mr Coughlan previously dealt with Aldi at Blackrock Hall, on Skehard Rd in Cork City, when he also built a pharmacy (being taken over by Phelans) and a HSE Primary Care Centre.
He also developed housing on an Aldi site at Tory Top Rd, Cork. It’s expected Lyonshall will now liaise with the HSE, who included Clonakilty as one of circa 75 locations (15 in Cork) for a Primary Care Centre.
The prime site, on reclaimed land close to the Model Railway Village, was sold in 2005 by the GAA for close to €9m to Hillback Ltd, who developed the first three high-quality buildings.
The GAA subsequently developed new facilities west of Clonakilty, at Ahamilla.
Cork County Council, meanwhile, is currently upgrading the adjacent treatment plant, and has been working on flood relief measures also close to the Waterfront site.
Mr Coughlan says he will go for fresh planning in March, and may commence building on the site by year end 2015.