US multinational in advanced talks to take out lease at Navigation Square One

The Irish-based multinational engineering company has almost the entire second floor of NSQ 1, with the exception of a 405sq m suite, which is currently available to let. Picture: Larry Cummins

A US multinational is in advanced talks to lease the entire first floor of Navigation Square One (NSQ 1), a landmark office building on Albert Quay, in Cork’s South Docklands.

The building is already host to Jacobs Engineering, which relocated there from Mahon approximately two years ago.

The Irish-based multinational engineering company has almost the entire second floor, with the exception of a 405sq m (4360sq ft) suite, which is currently available to let.

NSQ1 is the largest of four blocks in the O’Callaghan Property (OCP)-developed Navigation Square, which it sold to French investors Corum for €60m in 2021.

Financial services company Clearstream, part of the Deutsche Börse Group, is the other substantial tenant in the Corum-owned building.

Gerard O’Callaghan, of Lisney CRE, is handling the leasing of the remaining second-floor office suite, which he describes as “best-in-class office suites, with expansive river and city views”.

Built to high-quality landlord Cat A specification in an Leed Gold accredited building, the suite is available to lease at an annual rent of €145,000 per annum.

NSQ1 is a part of a striking office block development on Albert Quay, with a distinctive limestone facade, and dramatic double-height entrance foyer/ reception.

It has underground car parking with bicycle storage areas and staff changing rooms; 2.9m-high floor-to-ceiling heights, suspended ceiling incorporating LED lighting with PIR detection, and four passenger lifts capable of carrying 21 passengers.

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