Buyers may strike gold with new city quay development

CORK city’s river quays are noted for their buildings of varying vintages and heights — and a new-build apartment River Gold in final construction continues that trend.

River Gold, part of developer Owen O'Callaghan's 21 Lavit's Quay mixed-use development, has 43 apartments with a public sales phase staring next week, as well as offices and ground floor retail space.

And, one of the benefits of this design on the slowly assembled site is the that the City Council's multi-storey car park off Paul Street has finally been obliterated from open view along St Mary's Quay.

This is one of O'Callaghan's first forays into apartment building his major shop and apartment scheme for the massive nearby Academy Street site is now not expected to go for planning until late summer, while his Jury's site also in Cork got a planning go-ahead last week on a marginally reduced scale.

Design of this composite quayside building, with varied building materials, finishes and roof profiles used to break up its bulk, is by Patrick Cashman Associates in Midleton, and they managed to stitch in a new section of multi-decked car parking linked in to the existing multi-storey car park with spaces for sale to apartment buyers at €40,000 each.

The apartment prices weigh in from €310,000 for 540/660 sq ft one-beds, with two beds of 750 to 1,000 sq ft at €310,000 to €340,000.

Selling agent Jackie Cohalan notes that the unit sizes are well up on competing developments in the city, and the apartments have gas central heating, fitted beech kitchens, extensive tiling and en suite bathrooms and red alder bedrooms built-ins, and good IT/satellite TV and phone wiring provision.

Most demand is for units with river views and a vista that includes St Mary's Church on Pope's Qay as well as Shandon, notes Ms Cohalan, and private deals were done by the developer to undisclosed buyers on the two spectacular corner penthouses.

Twelve units have been assigned in a low-key launch, and the buyer profile is owner-occupiers and investors looking to let in the short to medium term but considering eventual retirement options, while some families have bought for off-spring attending college and starting work in the city.