Tyco’s 500-job return a boost for Cork City

Confirmation of last week’s Commercial Property exclusive story about 500 jobs coming to Cork in a major FDI investment came this Monday with Tyco publicly named as the new arrival, or returnee.

Tyco’s 500-job return a boost for Cork City

The IDA-negotiated jobs coup sees Tyco back in Cork and sources say that while it is initially due to take space at City Gate Park in Mahon, the company’s aim is to ultimately locate in the city centre.

Tyco’s intended site is BAM Construction/John Cleary’s amalgamated office site on Albert Quay. However, planning was only lodged for this site in Dec 2013, for 200,000 sq ft of office in a building costed at €50m, with proposed floor plates of as much as 30,000 sq ft per floor.

It’s designed to replace two other office blocks designed separately on this Albert Quay site next to City Hall, across the river Lee’s south channel from City Quarter, and just north of the Elsyian development. One planning was granted to Howard Holdings, the other to BAM, and BAM bought the former Howard Holdings’ site last year, via Savills from NAMA, for around €2m.

Design of the Albert Quay eight/ten storey building with top-level setbacks is by Henry J Lyons and Partners, and it is capable of accommodating 2,000 jobs — a vital boost for the city centre.

Pending final deals on Tyco’s ultimate space needs, the company is recruiting and is set to occupy office space in City Gate, Mahon, where developers John Cleary Developments late last year sold two speculatively-built, and fully completed office blocks to Irish Life Assurances for €40m. They’ll join Dell, EMC and other US firms on the office campus by the new Starbucks cafe.

Tyco’s jobs will be centred in global services/support, sourcing and procurement, customer service, R&D, IT and finance.

* Details: www.tycocareers-cork.com

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