The mixed-use development is likely to take between three and five years to deliver and is being branded ‘HQ’, picking up on the location’s initials.
It finally lodged for planning permission this week, almost a year after a development deal was agreed between CIÉ and joint purchasers, the major Irish property company the
Clarendon Group and BAM Ireland. CIÉ will be entitled to 10% of the income from the development, under the terms of the deal negotiated by agents Lisney on a 300-year lease.
The quay-side development, on six acres at the city end of the 17-acre Horgans Quay rail station site (which also is currently being redeveloped by CIE,) is being hailed as a significant new urban quarter for the
southern city, and a boon for development on the Lee’s north quays.
HQ will provide a hotel close to rail and bus links and to the city centre, as well as offices for FDI companies, plus almost 240 apartments which will be available to rent only, to meet backed-up demand from firms locating employees into the Cork