Marina Market unaffected as former parent company enters receivership
Hembay, the owner of the Marina Market, is not in receivership, a spokesperson said. Picture: Larry Cummins.
A spokesperson for Cork's Marina Market has said that the popular food and culture venue will continue to operate as normal after a separate subsidiary of the market's parent company entered receivership.
In January, a notice was filed with the Companies Registration Office naming Resolute Advisory as the receiver for CPR Properties Cork Limited.
The receivership relates to a mortgage debenture between CPR Properties Cork Ltd and Dublin-based Ornate Finance No 2 Limited, dating back to September 2023. Colin Gaynor of Resolute Advisory was appointed as receiver of the company.
CPR Properties Cork was the prior owner of Cork's Marina Market, and was involved in the market's planning application that led to it becoming a permanent venue following the pandemic.
However, a spokesperson said that the market was no longer part of this company, and had since been moved to another company, Hembay Ltd.
"Hembay, the owner of the Marina Market, is not in receivership," the spokesperson told .
Hembay Ltd was incorporated in May 2024 and forms part of the larger group of companies under Urban Green Private, the real estate investment firm founded by Tom Coughlan.
The company boasts an extensive portfolio of commercial and residential properties across Ireland, and in addition to the Marina Market, includes Douglas Village Shopping Centre and Atkins Hall in Cork, Castletroy Town Centre in Limerick, Bridgewater Shopping Centre in Wicklow and the Shipyard apartment complex in Faro, Portugal, among others.
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