John Cleary Developments buys former Apple offices in Cork City

John Cleary Developments (JCD) has bought Cork City’s curvaceous Half Moon St development in an off-market deal believed to be valued at around €30m.

The Cork-headquartered property development and investment company confirmed the acquisition to the Irish Examiner, pledging an additional €5m spend to upgrade the vacant office space and improve its energy credentials.

JCD already has terms agreed on one floor and is in detailed discussions with a number of occupiers in relation to the other floors. The first office occupiers are expected to be in place by mid-April.

Tech giant Apple Europe previously had offices in the building, before relocating in 2021 to BAM/Clarendon’s new development at Horgan’s Quay.

JCD purchased the city centre building from global property investment company Kennedy Wilson, who paid O’Callaghan Properties €36.3m for the mixed-use development in 2019.

Work is already underway to revamp the office space Picture: Larry Cummins

Work on the €5m upgrade is already underway and will include a fully refurbished reception area with meeting rooms at ground level; new upper floor lobbies and toilets; a new atrium which will facilitate the floors being sub divided from 5,000 – 12,000 sq ft, and a river-facing terrace on the fourth floor, available to the entire building. The total office floor area is 54,000 sq ft, with floor plates up to 18,000 sq ft, which are fully fitted and ready to occupy. The upgrades will bring the building’s energy rating to an A3.

A previously unused basement that extends to an impressive 20,000 sq ft-plus is the subject of ongoing discussions with a number of interested parties.

Suitable for a variety of retail, leisure or arts uses, it has a clear floor to ceiling height of over 4.5m.

A spokesperson for JCD said they were “delighted to confirm the acquisition of the Half Moon building, which is located on a prime riverside site in the heart of the city centre”.

A view of Half Moon Street from overhead 

“The upgrade works will make the building best in class and enhance the occupier experience. Our existing portfolio of offices is currently fully occupied and we see limited supply of grade A office space available in the city centre,” the spokesperson said.

She added that having the ability to offer “a variety of sizes from 5,000 sq ft upwards, of fully fitted space in a prime location, makes it attractive to a broad range of occupiers”.

To date, JCD has completed 1.25m sq feet of office space in Cork.

The company’s latest acquisition on Half Moon St and Lavitt’s Quay was developed by O’Callaghan Properties and completed in 2010. It extends to over 115,000 sq ft (c 10,700 sq m).

Boots pharmacy’s flagship Cork store is part of the development Picture: Denis Scannell

A mix of retail and offices, tenants (unaffected by the sale) include Boots pharmacy flagship Cork store, Matthews outdoor wear specialists, Koppers hair salon, and MDM Solicitors.

Designed by Wilson Architecture, the building has a striking design with a fully glazed facade and ties in well with the Crawford Art Gallery, where a €93m refurbishment project — treble the original cost — has just got underway, with a hoped-for completion/re-opening date of Christmas 2028.

Crawford Art Gallery (right)

Among the properties previously on the Half Moon site were Arthurs’ electrical services company, and the garage and newsprint store for the Cork Examiner/Evening Echo. OCP developed it in 2009, with work done in tandem with its Opera Lane retail and apartment development on Academy St and St Patrick’s St.

Cork boxer Jack Doyle’s memorable Opera House visit in 1933 included a parade through Half Moon Street, on a pony and trap, after his performance.