Plans unveiled for major new retail development at Cork's Ballyvolane
Grocery Capital Partners have acquired a 4.2ac site between Lidl and Arderrow housing scheme in Ballyvolane Cork. Picture: Larry Cummins
The rapid expansion of Ballyvolane into one of the key residential growth areas on the north side of Cork city is continuing apace with a decision due next week on hundreds of additional homes, while plans have also been lodged for a major new retail development.
The proposed retail scheme, by Grocery Capital Partners Ltd, who lodged a planning application this week, is earmarked for a 4.2ac (1.69ha) site between the existing Lidl supermarket off Ballyhooly Road and the O'Flynn Group's new Arderrow housing development.
The scheme, ranging from two to three storeys, will include undercroft (basement) parking for 144 cars as well as two additional retail units at this lower level. The supermarket, with total net retail floorspace of 2,496 sq m (c 27,000 sq ft) is proposed for the upper level, along with a coffee shop. As part of the proposal, a private road serving four homes with be replaced with a new two-way road. The proposed development will also have an access point to the planned Northern Distributor Road.
The proposal to build a new supermarket comes at a time of exponential housing growth in the northside suburb where a number of developers have been active in recent years.
Chief among them is the John Crean-led property developer Longview Estates, granted permission for 753 homes in 2020, of which 400 have been delivered, with the remainder due for completion by 2030. A decision on a separate Longview planning application - which would pave the way for another 248 units on lands at Lahardane and Ballincolly – is due next week. If granted, Longview, who own190ac in the area and are backed by Temporis Capital, will ultimately deliver more than 1,000 homes in Ballyvolane, with total development likely to be worth north of €200m. The developer is also involved in the construction of a primary care centre near Ballyvolane.
Developer Michael O'Flynn is also active in the area and has already delivered 275 homes at Arderrow, with less than a handful of units left to sell. A decision is due on an application to build another 38 units later this month. O'Leary O'Sullivan (OLOS) has also been active, delivering a substantial number of houses over a multi-phase development at Coppenger Fields. The northside suburb is seen as a no-brainer for development given it's just 3km from Cork city centre, albeit a lot of future planning will depend on the final route for the proposed Northern Distributor Road.
The growing number of households has been good for supermarkets in the area, of which Dunnes Stores, which dates back to 1980, is the biggest, while Lidl opened a store across the road in 2007, having acquired land from members of the locally-based O’Shea family. The plan for another supermarket could see a new operator – eg Tesco or Supervalu or M&S - move into the suburb as Grocery Capital Partners modus operandi is to partner with grocery retailers and deliver properties they can operate from. The developer also acquired its site from the O'Shea family, in a deal overseen by Lisney commercial agent Ger O'Callaghan, and subject to planning permission. While the agreed sale price has not been disclosed, it’s understood that the value per acre is substantially higher than when Lisney first brought a much larger 28ac site to market in 2023, with a guide price of €2.6m.
Mr O'Callaghan said the 4.2a land sale to Grocery Capital Partners Ltd and their plans to develop it was "positive news for the northside" and a sign that people were ready to invest.
The retail development has been designed in such a way that it will be possible to access it in the future from the proposed Northern Distributor Road - arguably the single most important piece of strategic infrastructure for unlocking Ballyvolane's longer-term development. It has a direct relationship with the potential for 14,250 new homes in the wider Ballyvolane East and West expansion area by 2040, as identified in a national planning assessment.
The 14km road – from Carrigrohane west of the city and running across the northside, past the Apple campus in Hollyhill and out by Arderrow and onto Glanmire, is seen as essential to opening up large areas of north Cork for housing, employment, commercial development and transport. However the preliminary design process only started in July and is expected to take 24 months, followed by the statutory appeals process.
In the meantime, developers with permissions continue to build homes locally, while Grocery Capital Partners Ltd planning application for a retail development is a sign of confidence that the Northern Distributor Road will be delivered.
The company has strong financial backing in the form of Florida-headquartered asset investment fund, Clarence Capital Partners, whose website states that they have $750m of assets under management. Irishman Conor Clarke is a managing director at Clarence Capital, as well as a director of Grocery Capital Partners Ltd. Also listed as a director is Clare man Eoin Cusack, who had a long career at Lidl, including as property director, managing a €500m portfolio. There are no details of other projects Grocery Capital Partners Ltd has been involved in on its website. The company was established in 2023.
CONNECT WITH US TODAY
Be the first to know the latest news and updates
