With 450 offices globally, in 100-plus countries, over 70,000 employees and annual turnover of $13bn, the world’s largest real estate advisory and investment CBRE touches down, officially, in Munster and in Ireland’s second city, Cork from today.
The giant real estate firm is ranked mid-way in the Fortune 500, and deals professionally with 90 of the Fortune 100 firms globally, and so has a FDI reach that can be transformative in the regions in which it is represented.
It officially opens its Cork offices with a staff of six tonight at One Albert Quay, a Gold LEED building anchored by Johnson Controls, an even larger monolith after binding with Tyco, with revenues of $42bn and 170,000 employees, and which is headquartered in Cork.
Speaking in advance of today’s CBRE Cork/Munster launch, UK and Ireland MD Ciaran Bird told the Irish Examiner that they aimed to become the strongest commercial real estate operator in the region in coming years, in a market where Cushman & Wakefield and Savills are already well- established, and large rival player international firms, along with multi-Irish office agencies like Lisney.
Cork’s strength included ease of access and proximity to an international airport, and office rents which were half of those in Dublin. Mr Bird said he’d keep an open mind on the impact Brexit office relocations might have, but indicated that while Dublin would get the stronger pick up, Cork might benefit from cost-effective ‘second office’ relocations.
And, he said the economic recovery and improving jobs market also meant that people employed in the real estate sector could expect to progess a career, with a good lifestyle balance in a place like Cork, without needing to go to capital cities: he made the remark while revealing his parents Edward and Kathleen Bird now live most of the year in Union Hall, West Cork, where he occasionally gets to use their day-sailing boat.
Mr Bird noted that CBRE currently employs 750 in Ireland, in offices in Dublin, Belfast and now, to start with, on a minor scale in Cork.
A large percentage of that number is taken up in property and facilities management; it already provides a wide range of behind the scenes services in some of Cork’s largest FDI facilities.
The Cork CBRE office is headed up by Brian Edwards, ex-Cushman&Wakefield, Cork, and Head of Agency is Denis O’Donoghue, ex-Savills, Cork.
DETAILS: CBRE 021-4917255. www.cbre.ie
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