Confirmation of the financial services firm Clearstream to over 70,000 sq ft, plus an optional extra of 20,000 sq ft more for 600 well-paid financial services jobs at Navigation Square on Cork city’s quays makes it one of the very largest-ever office deals in Cork city. Having bravely broken ground last year before any tenant was signed up for Navigation Square, O’Callaghan Properties MD Brian O’Callaghan yesterday said, “we’re delighted to be part of Clearstream’s expansion plans for Cork. Construction at Navigation Square commenced last autumn, with a tenant fit-out expected by year’s end following an on-schedule construction timeline with BAM, and Clearstream are to move 360 employes in by March 2019, with scope to add 200+ extra jobs. Tellingly, the space being committed to, as much as 90,000 sq ft in block A, provides the Luxembourg-based giant with enough space and facilities for well over 700 employees. Headline rents at Navigation Square are quoted at €32.50 psf, but terms agreed with Clearstream have not been divulged.

Source: Irish Examiner March 01, 2018 00:00 UTC