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The Capitol on Patrick Street.
The Capitol on Patrick Street.
SOCIAL BOOKMARKS

Lifestyle Sports, Facebook and Huawei among The Capitol's tenants

FACEBOOK, AlienVault, Huawei and Lifestyle Sports have been confirmed as the tenants for the long-awaited Capitol development.

After much speculation, developers finally confirmed the international names taking space in the multi-million rebuild of the iconic city-centre site, with the first tenants set to move in in April.

80% of the space has already been leased, according to developers JCD.

This includes the reopening of the Oyster Tavern, one of Cork's oldest licenced premises.

Dublin publican Alan Clancy has agreed a long-term lease to reopen the bar, which was retained during the build.

Clancy is best known for operating 37 Dawson Street, an upmarket bar in Dublin city centre, as well as House in Limerick and Dublin.

He was previously involved in Dublin super-club the Wright Venue.

The lavish new fit-out of the bar cost some €1.5 million and will include a restaurant, bar and oyster bar, focusing on fresh food produce from the neighbouring English Market.

Doors will open for the June bank holiday weekend, marking Clancy's first foray into the Cork market.

After much speculation, Lifestyle Sports has been confirmed as the main retail tenant of the new development, occupying 21,000 sq ft. They will also open in June.

Taking half the space on the ground and first floor of the Capitol, Lifestyle's new premises will have pedestrian entrances on Grand Parade and Patrick St and will be its biggest in Ireland.

It currently operates 53 stores nationwide, four of which are in Cork city. This includes one on Patrick St just 150 metres from its new flagship store.

The remaining retail space has been let to an undisclosed international homewares operator who is understood to be taking over 20,000 sq ft.

As has been previously reported, Facebook, Huawei and AlienVault are set to occupy some of the sought-after office space on the upper floors of the development.

The Capitol development, Grand Parade, Cork City. Picture Dan Linehan
The Capitol development, Grand Parade, Cork City. Picture Dan Linehan
Facebook has already commenced hiring new staff for its venture, which is understood to focus on its virtual reality operations under its Oculus brand.

Cyber-security firm AlienVault, meanwhile, has confirmed its intention to employ as many as fifty people by the end of the year in its premises on the second floor, with Chinese telecommunications giant Huawei taking 6,000 sq ft on the same floor to develop its R&D operations in Cork.

AlienVault are due to move into the Capitol in April, with Huawei following in mid-May.

Currently, the third floor remains the only unoccupied space in the building with negotiations ongoing with a number of potential tenants.

Some 17,000 sq ft is available to lease at €32 per sq ft - less than half the equivalent city centre space in Dublin.