Cork city apartment plans scrapped as not financially viable

JCD Group's plans for a 25-storey apartment development turned out to be financially non-viable while demand for offices has increased in the city

JCD Group is proposing a 16-storey office tower on the former Sextant bar and Carey Tools site on Albert Quay, Cork City. The group scrapped plans for a 25-storey, build-to-rent apartment development, saying the rent level required to make the project financially viable ‘is not sustainable in the Cork market’.

Plans for a 25-storey apartment development in the heart of Cork city have been scrapped as being non-viable financially, with the quayside site set to become a 16-storey office block instead.

Noting much stronger than expected take-up of offices in Cork city, despite the setbacks of Covid-19, developers, JCD Group, has applied to Cork City Council for a totally revised proposal for a 170,000 sq ft office tower on the former Sextant bar and Carey Tools site on Albert Quay.