The €160m Horgan’s Quay development in Cork City has secured its first office tenant. Serviced officer provider, Spaces – part of IWG plc – has agreed to pre-let 30,000 sq. ft. in one of three office blocks currently under construction. The deal was negotiated by Savills with HQ Developments – a joint venture between Clarendon Properties and BAM.
Horgan’s Quay is a major rejuvenation scheme for Cork City and includes the development of three Grade A office buildings extending to 310,000 sq. ft., in addition to 325 apartments, a 120-bed hotel with rooftop dining – to be operated by Press Up Entertainment Group – and an array of retail and restaurant outlets. The first office block – Block 1 – is due for completion in Summer 2020, with Spaces expected to commence trading in the Autumn.
Founded in Brussels, Belgium in 1989, IWG is a highly successful multinational corporation that provides serviced offices, virtual offices, meeting rooms, and videoconferencing to clients on a contract basis. The company own and operate several globally recognised brands, including Regus, Spaces and No18.
Paul MacAndrew, Country Manager, IWG Ireland said they are delighted to be bringing Spaces to Cork in 2020.
“We see this riverside city centre landmark building as a great fit for Spaces and our customers, due to its fantastic architecture and spectacular industrial heritage conservation. Horgan’s Quay will be truly unique as a location with complimentary retail, hotel and residential facilities and direct access to Cork’s Kent train station.”
Spaces offers a new type of workspace for companies and individuals looking for a place to work flexibly and be inspired by other like-minded people. With a fantastic central location and premier features, within a riverside location – Cork’s newest Spaces is bringing something new to the city and its business community.”
The entire Horgan’s Quay development is centred around the conservation of the site’s Industrial heritage. The refurbishment of the Station House – adjacent to Cork’s Kent Train Station – will form the centrepiece of the Residential development. The Carriage Shed will house retail and restaurant uses adjoining the hotel. The Goods Shed refurbishment, and restoration of the nine-metre-high Cork Limestone wall, are integral to the development of the office buildings.
Ronan Downing of Clarendon Developments concluded: “We’re making great progress in the development of Horgan’s Quay, and look forward to agreeing further pre-let agreements with office occupiers, in addition to retail and restaurant operators.”