€58m deal to buy unfinished One Albert Quay in Cork

Cork City’s newest and largest office block, One Albert Quay, has been purchased for up to €58m by Green Reit nine months ahead of its completion.

The Irish property investment firm confirmed it had entered into a conditional contract for the acquisition of the building being constructed by John Cleary’s development company, JCD Group.

Green Reit said it expects total rent per annum from its new acquisition to range from €3.6m-€4.1m if full occupancy is achieved.