Cork City Quayside Site Sale Nears Completion
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A prime one-acre site on Cork CityS quayside has reportedly reached sale agreement for a price exceeding €4.5 million. The identity of the buyer remains unconfirmed as of this report.
Site Details and History
The one-acre property, formerly a warehouse, is located on St patrick’s Quay. It was previously owned by developer Paul Kenny/The Kenny Group and features protected stone and brick facades. The site was listed for sale by CBRE in late summer.
Growth Potential
The property is considered highly desirable due to its potential for various developments, including:
- High-density residential apartments
- A hotel
- Office space
Bids received where primarily from munster-based parties, with a strong focus on residential development.
Surrounding Developments
The area surrounding St Patrick’s Quay is experiencing notable development activity. Notable projects include:
- Horgan’s Quay: New apartment construction is underway, managed by the Land Development Agency (LDA).
- BAM/Clarendon Group Developments: This group has developed offices near Kent Railway Station, with Apple as a key tenant, as well as the Dean Hotel and other mixed-use properties.
These developments demonstrate the increasing investment and growth in the Cork City quayside area.
Strategic Location
The site’s location offers excellent visibility and accessibility, benefiting from proximity to:
- The Metropole Hotel
- The Mary Elmes Bridge
- Penrose Wharf
- Penrose dock (currently under construction)
Key Takeaways
- A one-acre Cork City quayside site has a sale agreement exceeding €4.5 million.
- The site offers potential for residential, hotel, or office development.
- The area is experiencing significant investment and growth with ongoing projects like Horgan’s Quay and developments by BAM/Clarendon Group.
- The property’s location is strategically favorable due to its proximity to key landmarks and infrastructure.
This sale underscores the continued demand for prime real estate in cork city and signals further investment in the area’s ongoing development. Future development on this site is expected to contribute to the revitalization of the quayside and enhance the city’s appeal.