The former 11.3 acre Ford depot site is on the market for €8.5m after Nama put it up for sale.
The site had been previously earmarked for a hotel and office complex when it was owned by Howard Holdings — who bought it for €35m — and the developers have planning permission for a high-density development which is valid until the end of next year.
Mr Aiken said there will be no impact on this year’s concerts but admitted he does not know what the future holds for the popular concert series which has been a staple in Cork since 2005. “It’s a great site. It would be hard to get a site as good as that,” said Mr Aiken.