Developers remain committed to key Cork office and hotel developments

Work to resume of the Prism office development in the fourth quarter of 2021 with work to begin next year on a new hotel on an adjacent site
Developers remain committed to key Cork office and hotel developments

Computer-generated image of the Prism office building in Cork.

The developers of a 15-storey office building in the centre of Cork city say construction work on the project will resume in the fourth quarter of this year while work will commence next year on a hotel development on an adjacent site.

Tower Holdings have plans to build the €20m office development on a narrow, 3,000 sq ft site next to the city’s bus station at Clontarf St. 

Called the Prism, the building is inspired by the legendary 22-storey Flatiron building in New York.

It is the first development in Cork by New York-based Kerryman Kevin O’Sullivan. His company also has planning permission to develop what would be Ireland’s largest building, a 34-storey hotel to be located on Cork’s Custom House Quay where both channels of the River Lee converge.

Tetrarch's planned 165-bed hotel between Parnell Place and Deane Street.
Tetrarch's planned 165-bed hotel between Parnell Place and Deane Street.

In February last year, site clearance and preparatory work commenced on the site of the Prism with a planned construction completion date set for the end of 2021. However, further progress on the development was hampered by the various Covid-19 related lockdowns.

With restrictions on construction activity now lifted, a spokesperson for Tower Holdings said work on Prism would resume in the fourth quarter of this year.

Separately, real estate investment firm Tetrarch Capital said it will commence construction in 2022 of a 165-bed city centre hotel, adjacent to the bus station and alongside the Prism office tower site.

Tetrarch acquired the site at Parnell Place, Deane Street and Oliver Plunkett Street Lower in 2017. The development will include the adaptation of listed 19th-century warehouse buildings. A spokesperson for Tetrarch told the Irish Examiner they remain 'very committed to the project with plans to commence the development next year.

The planned hotel viewed from Lower Oliver Plunkett Street. 
The planned hotel viewed from Lower Oliver Plunkett Street. 

The Prism and Parnell Place hotel developments are seen as key sites located at the intersection of Cork's city centre and its north and south docks which will see significant redevelopment in the coming years.

The redevelopment of the north docks has already seen the Dean Hotel built alongside Kent Railway Station with the HQ and Penrose Dock office developments coming on stream in recent months.

The South Docks have seen construction activity concentrated closer to the city centre with the completion of One Albery Quay and Navigation Square.

O'Callaghan Properties who built Navigation Square are expected to unveil plans later this year for the first phase of new development in the South Docks, on a 32-acre block, to include the R&H Hall building and Gouldings site, acquired in 2019 from Origin Enterprises.

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