CONSTRUCTION work will begin this summer on the largest office development ever built in Cork city centre at Albert Quay.
O'Callaghan Properties have confirmed that the final planning appeal against the €90m project has been withdrawn meaning the project can proceed immediately.
Navigation Square will be a 310,000 square foot office complex at Albert Quay East located between the Sextant and Idle Hour pubs.
Brian O'Callaghan of O'Callaghan Properties, the son of the late Owen O'Callaghan who died in January and was responsible for many of Cork's most prominent developments, described the news as “great for Cork and for the region”.
The development will be capable of hosting some 3,000 employees when fully occupied and will create 350 construction jobs. Work on the project will commence this summer with the first phase completed in December 2018.
“Navigation Square is a flagship, ambitious development that further confirms that Cork city is capable of hosting large scale multinational and indigenous investment projects. It makes a big statement for Cork and taken in conjunction with other projects developed and planned for the city, really affirms our capacity to be a viable counterbalance to the Dublin region," Mr O'Callaghan said.
“Navigation Square” will consist of four separate buildings to be built on a 2.25-acre site bounded by Albert Quay to the north, Victoria Road, Albert Road and Albert Street.
It has been designed by architects, Henry J. Lyons, and the fourth generation offices are designed to LEED Gold energy efficiency standards.
The development will be undertaken over two basement and six upper floors and will have 100,000 square feet of space for car, bicycle and motorcycle parking.
The proposed development includes roof terraces with views of the city and port, two standalone restaurant units and staff facilities.
O'Callaghan Properties originally planned to develop an events centre on the site which is now being built by Bam at the former Beamish site.
Navigation Square is close to the One Albert Quay office block completed last year by John Cleary Developments which is already fully occupied.
The location is close to public transport hubs of Parnell Place and Kent Station.
Savills and CBRE will act as letting agents for Navigation Square.