JCD gets green light for Cork city offices
Cork-based developer John Cleary's JCD Group has been given the go-ahead by the city's planners to build a five-storey office building capable of accommodating 450 workers.
The proposed scheme at 85-86 South Mall will extend to 50,000 sq ft and is set to be delivered by the end of summer 2018.
The €30m project is expected to create around 125 construction jobs.
Earlier this year, the JCD Group completed 5,000 sq m (54,000 sq ft) of offices at The Capitol scheme on a site that extends between Cork's two main retail streets, Grand Parade and Patrick St.
The Capitol has proven to be particularly successful in attracting tenants with Oculus, a Facebook subsidiary, agreeing a pre-let to take about 1,400 sq m (15,000 sq ft) on its top floor, where office rents have been pitched at over €30 per sq ft.
Lifestyle Sports and HomeSense, a discount homewares company within the TK Maxx group, have taken up retail space at the scheme, while well-known Dublin publican Alan Clancy occupies the refurbished Oyster Tavern bar and restaurant, which underwent a fit-out costing approximately €1.5m.
Acquired by the JCD Group for around €6m in 2015, the total cost of the Capitol cinema site's redevelopment came to approximately €50m.
Elsewhere in Cork city, JCD completed the development of the €52m One Albert Quay on the south bank of the south channel of the River Lee, for Green Reit last year.
The scheme is now fully let, with six Irish and international tenants.