Sale Of High Profile Site In City Quarter, Cork

Clontarf Street, Cork City Centre

Dublin, 28 March 2017 – CBRE have just been instructed by Mazars to sell a landmark site on the corner of Oliver Plunkett Street Lower and Clontarf Street in Cork City. This site had full planning permission for a 9 storey office block (approx. 30,000 sq.ft.) but the planning permission has lapsed Reg. Ref. 0529658.

Adjoining occupiers include Deloitte, EY, Clayton Hotel, Jury’s Hotel, the Port Of Cork, Merchants Quay Shopping Centre, City Hall and the Elysian etc.

The subject property comprises 0.28 hectares (0.7 acres) and is located opposite the Bus Eireann Central Bus Station. It is also within a short walking distance from various bus routes along the Quays as well as Kent Train station.

The property has good road frontage of 22 metres on Oliver Plunkett Street and 29 metres on Clontarf Street. The Clontarf Street site is less than 5 minutes walking distance from Cork City centre and a host of hotel, hospitality and shopping amenities including the Merchants Quay Shopping Centre and the English market.

The site is zoned Objective 1 – City Centre Retail (CCRA) under the Cork City Development Plan 2015 – 2021. Retail is the primary use in this zone, however, other land uses that complement the retail function of the area are also permitted, and include the following: Residential, Hotel, Office, Cultural facilities, Leisure facilities.

CBRE are quoting a sales price in the region of €1.2 million for this property sale.

Robert Colleran, Director, CBRE Ireland Development Land
We feel that this location would be very attractive for a high profile office development of unique architectural design given the pivotal road network, excellent public transport and positive planning history for a landmark office building on the site’
Robert Colleran, Director, CBRE Ireland Development Land

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.