Commercial Property

Cork’s commercial property market proves a moveable feast

Activity has swung towards industrial, logistics and student accommodation while new office development has ground to a halt, writes Donal Buckley

The sale of the landmark Debenhams building at 12-17 St Patrick’s Street, on the market with Cushman & Wakefield for about €20 million, will test Cork city’s mercurial commercial property market

Cork’s commercial property market is experiencing swings and roundabouts. Development activity has swung towards industrial, logistics and student accommodation while new office development has ground to a halt. Meanwhile the city’s retail properties are attracting new occupiers and investors.

Last month, local investment firm Urban Green Private, led by Tom Coughlan, purchased Douglas Village Shopping Centre in the south suburbs for more than €23 million, which was over the €21 million price quoted by Cushman ...