A LANDMARK building at the junction of Thomas Street and Catherine Street has been sold for a reputed €3m.
Rooney Auctioneers has confirmed it has negotiated the sale of the six-storey glass-fronted Thomas Street centre on behalf of the O’Malley family, who completed the development in 2009.
It has been sold to a Cork-based private investor developer who intends to convert the building to three floors of retail space, and a further floor floors of office space.
The basement, ground and first floors of the development will be given to retail, with the area subdivided between 1,000 square metres and each floors area of 6,000 square metres to meet trader’s needs.
Gordon Kearney, Rooney’s Auctioneers, said negotiations have taken place with a number of multi-national and national retailers to move to the centre.
“One or two of the big coffee operators are also talking to us,” he added.
Meanwhile, there will be four floors of offices, which again can be subdivided to meet the needs of business people.
Mr Kearney said the space allows for the employment of 80 people on each floor.
“The investor who has bought it has a good track record of providing excellent office accommodation. The fact there is a multi-storey car park behind the centre ticks another big box for us,” he said. “It will be exciting to bring to the market quality purpose built office and retail units in the city centre. The standard of fit-out of the offices will be of exceptionally high quality.”
The site was once the subject of a planning application for a supermarket-style convenience store. But this was withdrawn after objections from nearby traders.