Facebook inquiry for office space in Cork is put on hold

Social media giant had been seeking new office space in the city

Social media giant Facebook has put a hold on inquiries for significant new office space in Cork due to the Covid-19 pandemic.

Social media giant Facebook has put a hold on inquiries for significant new office space in Cork that could have accommodated up to 1,000 employees due to the Covid-19 pandemic.

The news comes as fitness company Peloton is seeking 70,000sq ft of city centre offices for up to 700 employees for occupation as soon as this year.

Facebook, via agents Cushman & Wakefield, had been scoping considerable office space, according to sources, capable of accommodating about 1,000 workers. 

That would be in addition to the staff working in Cork through Facebook offshoot firm Oculus VR, as well as its Dublin offices where it employs approximately 5,000 and was expanding its footprint prior to Covid-19.

However, earlier this year, Facebook said its employees worldwide could continue to work from home post-pandemic, prompting a reassessment of its office space needs long-term.

Estate agents C&W declined to comment on Facebook’s Cork expansion plans. It is understood that any review they had been undertaking is not currently active and is deemed ‘historic,’ with no requirement in the Cork market at the moment.

A spokesperson for Facebook said that as a growing company, they regularly undergo scoping exercises to stay abreast of commercial property availability, which the enquiries in Cork related to. 

"We continue to hire and add to our 6,000 people workforce based in our current locations in Dublin, Cork and the data centre in Meath. We’re not actively looking for additional office space at the moment," the spokesperson said.

Separately, commercial sector estate agents in Cork have been asked this week to propose a city-centre office location for up to 700 jobs for online/at-home fitness and exercise company Peloton, whose business took off due to Covid-19 work and stay-at-home demands.

The request for Cork ‘Grade- A’ offices space of 65,000-70,000sq ft has come from CBRE in Cork and London, without formally identifying Peloton as the client.