developments in cork

@kite wrote:

What was a puzzle to me, and im sure many others was why nothing was happining development wise on the Custom House Quay site in Cork.
The answer came by way of an article in the IE on Thursday 24th Nov.
According to the IE a company called Ochre Ridge Ltd. has begun a High Court case in Dublin claiming breach of contract in relation to issues regarding CHQ.
Anyone got updates on this?

Apologises – I had been spelling the company ‘Oakeridge’ for quite sometime. 😮 Indeed there is a snag here regarding the freehold on the site held by the Port of Cork and the lengthy leasehold of the Cork Bonded Warehouses held by JW Green. Reports last year had said OCP were investigating options on the site – but since that time, I’ve heard nothing. If I ever do, I’ll let you know. It’s a difficult site to do anything with really – the warehousing structures are protected and the cobbled quayside to the south warrants retention. Developable space may be afforded through demolition of the Cork Bonded Warehouses extension to the east and retaining the associated plot of land to the eastern tip. Of course any project at this point will have to quite spectacular – essentially it is one of the first visual recognition points associated with the city. It would provide an excellent ‘central’ waterbus station for the city and I would think the PoC would be anxious to retain docking capabilities for both Anderson’s Quay & CHQ – albeit on a reduced basis for smaller vessels like that of the Jeanie Johnston variety, ‘river-restaurant’ docking services, smaller visiting naval ships etc. Major imagination and the willingness to invest required here.

@Radioactiveman wrote:

There was a good article in yesterday’s Irish Examiner regarding the rising number of vacant or even derelict retail units on St. Patrick Street, Cork. Up to 15, depending who you talk to!
This is something which has been commented on by many contributors to this thread. I know, you can discount some units which are awaiting redevelopment as part of massive ‘shopping-centre’ type developments, but some are also being priced off the market- certainly for smaller, Irish company’s.
As the articel put it, the landlord’s are at risk of killing the goose that laid their golden egg!
The spawning of two “christmas shops” at the western end of the Street is an embarressment to the city and a street which was so highly praised in recent weeks.

Indeed I agree that some landlords run the risk of pricing themselves out of the market – rents being paid by Monsoon and Mango are exceptional, for example. However the number ’15’ is misleading – consider the units part of site assemblies at Patrick’s Street/Grand Parade/Oliver Plunkett Street and they as part of the Academy Street development. Also consider units subject to planning like that of Schuh. The Christmas shops, I agree look most distasteful, even from a decorative perspective the look rancid – having said that, the units in question (50 Patrick’s Street etc) are part of a site assembly and in temporary occupancy as a means of utilising the unit rather than vacancy. Still, their presentation is a let down.

3 units the particularly stand to my mind are they at the corner of Patrick Street and Cook Street (former Diesel premises), the former Karen Millen premises beside the Savoy Centre and the former CIE offices near Daunt Square – although I understand the latter is subject to a negotiation. A big problem with Patrick’s Street is the insufficient availability of appropriately sized units (the likes which attract names that can generally justify higher rents) – Academy Street for example will be able to make an opportunity of this issue. Existing units are restrictive in size and overpriced per sq ft. Landlords will have to assess their asking price so that a comfortable return can be made, whilst allowing a greater spectrum of retaillers attain a Patrick’s Street footing – in the long run it will bring greater variety and sustainability.

Take time to consider the reasons why Lush opted for Oliver Plunkett Street – though still a hefty lease, the space associated with their general stores size dictates that sale volumes (and with respect to their product nature) are limited with respect to deriving a justifiable expenditure on rent. Do you think – had the playing field been equal – Lush would have rathered a Patrick’s Street footing as oppose to Oliver Plunkett Street? Most probably – instead the associated rents of Patrick’s Street meant that taking a unit nearby at OPS would allow it reduce its rent while remaining within a relative proximity to the main thoroughfare.

@rebel_city wrote:

RE:Abercrombie&Fitch setting up shop in Ireland. I worked in one of their stores in the states for a summer 2 yrs ago when I was on a J1 visa, and their strategy is focused soley on the USA. They don’t even have stores in Canada, which I would presume is a similiar market. My manage at the time told me that they focus on the States because that’s the market they know best. It’s clear to anyone who know’s the store and its clothes that it would do well here.

A CEO & CFO were appointed to head up the new A&F European Division which was registered in January 2005 and Headquarted in Milan – the intention is to begin a steady European roll-out in the coming future. Ireland was identified early on as a preferential location however it is now likely that the first stores will set up first in the UK, perhaps in a joint intiative involving Jil Sander. A source with Hollister had suggested that up to 5 stores could be opened in Ireland over an undisclosed period, however no news of it has since emerged – although I do know the company are actively assessing their options with regard to the European market.