First tenant for Navigation Square 2 is serviced office outfit Iconic
NSQ2 and NSQ1 Navigation Square, Albert Quay, Cork. Picture: Dan Linehan
SERVICED office space specialists Iconic are set to become the first tenants at Two Navigation Square (NSQ2), as a return to in-person working gathers pace.
The move by Iconic to the O’Callaghan Properties (OCP) flagship development on Albert Quay is the company’s first foray outside of Dublin, where they offer serviced workspace at 16 office locations across the Capital’s central business district.
The expansion of their business to Cork will see them take a single floor – 14,000 sq ft – which they are currently fitting out, in in six-storey NSQ2.
A spokesperson for OCP said there has been “a really positive pipeline of enquiries for Navigation Square”.
With many companies requiring employees to return to in-person working, the demand for office space is expected to rise. OCP has plans for two more office blocks as part of the €90m Henry J Lyons-designed, Bam-developed Navigation Square development, for which start dates are currently under review. Plans to begin the third block last year were put on hold in a globally challenging environment.
Also affected by global uncertainty are plans to build 325 apartments on across-the-water Horgan’s Quay as part of a €160m mixed-use development by Clarendon Properties and Bam.
“Costs are proving a problem, what with the war in Ukraine, on top of inflation,” said Ronan Downing, development director with Clarendon Properties.
However work is proceeding apace on a second state-of-the-art office block, No 2 Horgan’s Quay, which Mr Downing said he expects will be completed in “about 13 months”.
Meanwhile tech giant Apple is bedding down at adjoining No 1 Horgan’s Quay, where it has the top three of eight floors.
CONNECT WITH US TODAY
Be the first to know the latest news and updates
