In advance of the fast-growing artificial intelligence company Cylance’s statement of Irish intent, its branding has just gone up this week on 89-90 South Mall, the former Norwich Union office block acquired a year ago by John Cleary Developments (JCD) for c€4m and which is being significantly upgraded.
California-based Cylance was established by ex-McAfee / Intel CTO Stuart McClure, and established an EMEA presence in London earlier this year, and has Irish partnerships in Sandyford, Dublin, with a company called Threatscape.
Earlier this year, Cylance established strong AI/anti-virus protection links with Dell, who employ thousands in Ireland and who have a very significant Cork presence now in the EMC/Dell Ovens building, and at JCD’s Mahon City Gate since 2012.
Meanwhile, Cylance’s Cork base for its arrival is at Nos 89-90, a well-positioned South Mall building which also is well poised to act as a ‘landing strip’ for new FDIs locating in Munster and in Cork, and has accommodated new tenants for JCD before moving to new-build offices in the likes of the company’s One Albert Quay, now effectively fully let.
Currently, JCD is well-advanced on 54,000 sq ft of new offices at the Capitol retail/offices site on Grand Parade and St Patrick’s Street Cork, and negotiations have been on-going on possible new FDI tenancies there, and at other JCD-owned sites, including Mahon.
Rents for offices at the Capitol site have been pitched at €32 psf, a new city centre level, but significantly lower than the €65-70 psf now being sought in Dublin city’s newest buildings.
Also on the South Mall offices’ front this week, Irish Life Health is currently fitting out the second floor of 67-69 South Mall, which is owned by Irish Life and which has had high vacancy levels for some time, after the departure of Manpower among other changes.
Managing agents Aramark Properties’ Joanne Buckley confirmed the second floor of 67-69 South Mall of over 6,000 sq ft is being let to Irish Life Health. It’s understood about 30 ILH staff will be accommodated there, next door to the long-stay VHI.