Numbers working at Cork's Penrose Dock to grow significantly

Numbers working at Cork's Penrose Dock to grow significantly

The numbers working at Penrose Dock, a new Grade-A office complex at the heart of Cork’s new docklands, are expected to grow to more than 1,600.

The numbers working at Penrose Dock, the new office complex at the heart of Cork’s new docklands, are expected to grow to more than 1,600.

The figure was revealed as Taoiseach Micheál Martin, and Minister for Foreign Affairs Simon Coveney both visited the development to meet with site leads of the 18 companies who currently occupy the scheme.

Penrose Dock, which has been developed by Cork based JCD Group, now has nearly 90% of its floorspace already let.

The entire complex offers a total of 250,000 sq ft of office space set across two buildings, Penrose One and Penrose Two.

Penrose Dock has attracted a strong mix of clients from global technology and professional services companies.

Current tenants employ over 1,100 staff, with plans to create a further 500 jobs.

11 of the companies based in Penrose Dock are IDA Ireland client companies.

IDA CEO Martin Shanahan was in attendance at today’s outdoor, socially distanced ceremony.

Amongst the companies who have taken up residence at Penrose Dock are Qualcomm; Cloudera; Varonis; Aspira; Tigera; Grant Thornton; Matheson; Cadence; IBEC; Remitly; Sophos; Nuacra; CH Robinson; Nathan’s Trust; and Minelab.

Penrose Dock complex incorporates the fully-restored historic Penrose House, the just opened state-of-the-art gym by Dennehy’s Health and Fitness and the popular Naturally Nourished café.

Earlier today, Varonis Systems, Inc, a pioneer in data security and analytics, announced the opening of its new and expanded office space at Penrose Dock.

Speaking today, Taoiseach Micheál Martin said Penrose Dock is a “great example” of the promise of Cork’s docklands to “become a future driver of economic growth for the region and the country as a whole”.

“The companies who have chosen to establish their base in Penrose Dock have given the city a vote of confidence, and I would like to wish them every success in their future growth.

“In the months ahead, as restrictions ease, this part of the city will become a base for innovation.

“To see a strong mix of Irish companies alongside global firms shows how Cork is attractive as a destination for future investment,” Mr Martin continued.

Minister for Foreign Affairs, Simon Coveney TD praised the calibre of businesses that have chosen to establish a base in Penrose Dock.

“Cork needs to attract companies of the calibre we have met here today.

“As a Government, we are committed to balanced development across the island of Ireland, and we need to show companies looking to invest the potential that Cork has. 

“I would like to congratulate JCD Group on this development, and the speed at which the available space has filled up is a testament to the facilities on offer. 

“I would also like to congratulate the IDA on their ongoing commitment to Cork, which has resulted in the delivery of thousands of quality, well paid jobs.” 

Martin Shanahan, CEO of IDA Ireland said the businesses locating in Penrose Dock illustrate how Cork is “attractive to global firms looking for a foothold in Europe and further afield”.

“Each of the companies who established here has praised the quality of the workforce, the strong industry connections with third level institutions and the improved quality of life that living in a city like Cork has to offer.

“The IDA supported companies I met with today in Penrose Dock have spoken of their commitment to the city and their success and others in Cork city and county give us a strong base to further build upon.”

The Penrose Dock development was recently announced as both the Best Overall Building of the Year and the Best Large Office development at the National Building and Architecture of the Year Awards 2021. 

It forms a key part of the evolution of the North Quays into a thriving new economic district in Cork.

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