One Albert Quay sale ‘signals confidence in sector’

The decision by a property investment company to pay up to €58m for an office block nine months ahead of completion, should give confidence to the developers of other major development in the pipeline for Cork city, the Cork Chamber has said.

Chamber chief executive Conor Healy said Green Reit’s conditional purchase of One Albert Quay from local developer John Cleary’s company JCD Group was a positive signal of the confidence in business growth in Cork’s city centre.

Mr Healy said there is a high demand for quality office accommodation and Cork now features prominently on the investment property map.