Cork city\u2019s evolving property landscape has seen two significant shifts with the purchase of Half Moon St by John Cleary Developments (JCD), alongside revised plans for BAM\u2019s former tax office site on Sullivan\u2019s Quay.<\/p>\n
Cork-headquartered JCD acquired the Half Moon St development from global property investment firm Kennedy Wilson in an off-market deal for a sum in the region of \u20ac30m, and it has already commenced a \u20ac5m upgrade of its office space.<\/p>\n
\u201cThe upgrade works will make the building best in class, and enhance the occupier experience,\u201d a spokesperson for JCD said. \u201cOur existing portfolio of offices is currently fully occupied, and we see limited supply of grade A office space available in the city centre.\u201d<\/p>\n
Meanwhile, BAM is due to lodge a planning application for new student accommodation at Sullivan\u2019s Quay. This comes after it allowed consent for a hotel and offices to lapse.<\/p>\n
While BAM declined to comment on its revised plans, JCD said it was \u201cdelighted to confirm the acquisition of the Half Moon building, which is located on a prime riverside site in the heart of the city centre\u201d.<\/p>\n
The building \u2014 previously occupied in part by tech giant Apple \u2014 includes an unused 20,000sq ft basement, with JCD currently in discussions with a number of interested parties regarding its potential use.<\/p>\n
JCD said it was suitable for a \u201cvariety of retail, leisure, or art uses\u201d.<\/p>\n
JCD has already agreed to the letting of one floor of the building\u2019s 54,000sq ft of office space, while \u201cdetailed discussions\u201d are ongoing with prospective occupiers for the remaining floors.<\/p>\n
The first tenants are expected to take up occupation by mid-April.<\/p>\n
To date, JCD has completed 1.25m sq ft of office space in Cork.<\/p>\n
The Half Moon St building, originally developed by O\u2019Callaghan Properties (OCP), extends to more than 115,000sq ft and comprises a mix of retail and office space.<\/p>\n
Existing tenants, unaffected by the sale, include Boots\u2019 Cork flagship shop, Matthews outdoor wear specialists, Koppers hair salon, and MDM Solicitors.<\/p>\n
Vendors Kennedy Wilson acquired it from OCP in 2019 for \u20ac36.3m.<\/p>\n","protected":false},"excerpt":{"rendered":"Cork city\u2019s evolving property landscape has seen two significant shifts with the purchase of Half Moon St by…\n","protected":false},"author":2,"featured_media":286108,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[781,79,71890,11984,18,19,17],"class_list":{"0":"post-286107","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-cork-news","9":"tag-business","10":"tag-cork-development","11":"tag-cork-property","12":"tag-eire","13":"tag-ie","14":"tag-ireland"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115900251093801131","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/286107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=286107"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/286107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/286108"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=286107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=286107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=286107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}