Reply To: Look at de state of Cork, like!
Originally posted by Diaspora
The Jervis Centre can withstand the onslaught that will be Dundrum because it is a pleasant space to shop in.
Can the Central Merchants (Quay?) centre in Cork survive O’Callaghans edge city super mall?
Todays a-list tenants are not necessarily going to be so prime in 5-10 years time fashions change the architecture remains.
A bit of tax designation for the Docklands wouldn’t be a bad idea, the IFSC model works economically if not architecturally. As rents rise occupiers expect a better looking building, that is why I am often jealous of projects in London such as the Gherkin or even the older LLyods building.
I agree the Jervis Centre is a pleasant place to shop and Project Management did a lovely job on it – with a considerate approach to its surroundings. I only pray for such consideration in the other O’Callaghan Properties retail development for Academy Street (right off Patrick’s Street) in Cork. The 6-storey over basement development will consume the entire block – the former Examiner HQ, Johnson & Perrott, Grand Circle Lounge, Taboo, TJS, Ryans and so on – and cost 150m euro (est’d). I should only hope a Jervis Centre standard is enacted. I’ll have first drafts in early Jan 2005 hopefully.
Merchants Quay was originally developed by O’Callaghan Properties, Heron Property (UK) and Treasury Holdings. It was sold a few years ago to a First Active Trust. Therefore, MQ is not O’Callaghan’s concern, Mahon Point SC (60,000sq m gross + retail park) is. And in a few years, The Academy Plaza will be his concern when CGNU or such funds buy into O’Callaghan’s stake in conjunction with Deka. The reason I list tenants, regardless of status (and I only did it once) is because it reflects the investment trends in Cork – and also displays the confidence various businesses install in the region. Even if an established retailler like Pull & Bear wish to open another store at MP, it shows the confidence they reflect in their business here.
I agree trends come and go, architecture lasts – and that is why I have never been a fan of MP’s design (despite beliefs otherwise) and would be a fan of say, Cornmarket Street Development – it is a considerate design with respect to the city centre and existing historical structures.
In addition, Ballincollig Town Centre, reflects another large scale retail SC (40,000sq m gross) and will house 3 large anchor stores in addition to 35 further retail units of varying sizes. A good tenant list has been composed.
As for Docklands Tax Designation – this issue is something I am actively involved in and it is a work in progress. I just hope our efforts succeed.