A prime development opportunity overlooking Cork Harbour has come to the market in Ringaskiddy, priced at €1.85m. The site boasts flexible zoning and excellent transport connections.
Known as Paddy’s Point, this 2.73ha (6.74 acre) waterfront site, formerly part of the Irish Steel portfolio, offers immediate access to the upcoming M28 motorway and is well-served by public transport.
Under the county development plan, the site is zoned for offices, educational facilities, and research and development, making it ideal for established operators in the nearby pharmaceutical and biotechnology hub looking to expand.
The site could also be of interest to the National Maritime College of Ireland (NMCI), part of MTU and located in Ringaskiddy, for expanding its marine-related training, education, and innovation capabilities.
Gerard O’Callaghan of Lisney describes it as a “spectacular site, with 270-degree views of Cork Harbour, and would make a magnificent office location”.
“For any large companies in Ringaskiddy considering investing in offices or R&D, this is a far superior alternative to building on a greenfield campus further down the road.”
“I believe it would be difficult to find the combination of such a spectacular and idyllic setting, location, zoning, and infrastructure anywhere else in Ireland.”
Mr. O’Callaghan also noted the site’s high potential for value appreciation as Cork’s economic zone grows.
“This should incentivize investment in the site. Any completed development here would undoubtedly be worth more than a comparable development on a greenfield site or adjacent to a manufacturing campus elsewhere.”
The site, which includes a portion of foreshore, comprises 2ha of building land, along with a 240 sq m storage shed and a secure hardstand compound. It is situated just 800m from the M28 motorway currently under construction, and the 223 bus route terminus is conveniently located across the road.
Mr. O’Callaghan anticipates that the M28 will be completed by the time new offices are built at Paddy’s Point, as its expected completion date is 2028. The new motorway is crucial for Ringaskiddy, which handles a significant portion of the region’s freight as Cork Harbour’s main deep-water port.
“I believe it presents an excellent opportunity for an office development and is likely to attract local multinationals and port-related businesses,” Mr. O’Callaghan stated.
The site was previously used by Irish Steel as a storage depot, separated from the main campus (now an amenity park) by a bridge. Following Irish Steel’s closure in 2001, it was sold to a local civil engineering contracting company and utilized for general storage and plant accommodation.
DETAILS: gocallaghan@lisney.com, 9214275079.
