🙂 Howard Holdings have earmarked mid-April for a commencement of construction at Albert House (along Albert Quay) of the new 4-storey (5-storey if you include the apex) WebWorks Business & Technology incubation centre. The building is designed by Scott Tallon Walker and will be constructed by PJ Hegarty & Sons Ltd. The building is a joint venture between Howard Holdings, Cork City Council (who donated the site) and Enterprise Ireland and will be located in Cork’s newest and fastest growing office district. The development will first dismantle the former railway station platform to the rear of Albert House ( 🙁 which I believe is really a great shame as I see it as a true reflection of Cork history – rather than the rubbish some individuals and organisations find justified in objecting too), the excavation of the site, provision of basement car-parking (66 spaces) and then primary construction of the building overhead. The new development will be linked to Albert House, which will see its upper floors converted to office use and ground-floor area utilised as a new restaurant.
🙂 Next-door along Albert Quay, the Doyle Family Group have agreed terms of sale (apparently) through DTZ Sherry Fitzgerald) for their Cork Warehousing Co. warehouse on a prime corner location between Albert Quay and Albert Road. The site is flanked by the Howard Holdings WebWorks development to its west and O’Flynn Construction’s massive Eglinton Street development to its south. Although I can’t name the prime suspects at this point, one of them claims that they will, if successful, seek to purchase the small warehousing block between the Doyle warehouse and Albert House first before proceeding with any development – as they wish to maximise available space and provide a sense of continuity to the quay and their development. A mixed-use office and retail development of approx. 7-storeys over basement car-park is envisioned by one of the developers in the running. Agreement was reached based on rates of approx. 7 to 7.5m euros (apparently), its original guide price was 5m euros. However I can tell you now, I would be most surprised if the final sale price exceeds 7m euros. My understanding is, it won’t – contrary to some newspaper articles.
🙂 Another development scheduled for April is that of Victoria Station by Aras Developments. As reported here a few posts back, the site gained planning for a 24-unit Student Apartment development over medical services facility (all units have been pre-let or sold) and parking (1/2 of all spaces available have also been pre-sold) by former site owner Justin Canty. The design of the development was devised by consulting engineers O’Shea Leader and consists of a 4/5-storey building with roof-top gardens. Mr. McNamara of Aras Developments acquired the site via Global Properties (who will be sole selling agents) from Irish & European for approx. 2m euros.
🙂 Just across the road, at the former Plumbing Utilities store, also acquired by Global Properties, this time for Frinailla Developments, is to soon seen planning sought by the development company for a medium-sized residential development, over commercial units.
– Frinailla’s other big development is planned for the Dennehy’s Garage site just up the road at Dennehy’s Cross. The developers purchased the site for approx. 20m euros early in Feburary – the site is in 2 lots, one at the south-western side of the cross junction (the showrooms), the other is at the norther-eastern corner (the garage and service yards – with the excpetion of the Dennehy’s Bar). Frinailla have also bought up surrounding properties. They plan a large luxury residential development with local service facilities incorporated – incl. post office, hmmm).