Clarendon Properties to develop CIÉ Cork site
Transport group to receive rent in return under deal
Irish-based property company Clarendon Properties and construction firm BAM Ireland have won the right to develop a prime waterfront site in Cork city. Clarendon is jointly owned by Tony Leonard and Paddy McKillen.
Under a deal signed with property owner CIÉ, Clarendon will receive a 300-year ground lease in return for an annual rent, or 10 per cent of the market rent from the new buildings, whichever is higher.
The 6.1-acre site adjoins ...
