The Loft, Cornmarket Street, Cork

This central site comprises a superb opportunity with potential to deliver a mixture of developments. Extending to approx. 0.49 acres, the site comprises a furniture store contained in a mainly single part two storey building extending to approx. 21,000 sq ft. The subject building known as the Bazaar Market was originally developed by Cork Corporation in the 1840s and opened in 1851. The property has dual frontage onto Cornmarket Street to the east and North Main Street to the west. Along the northern boundary there is car park area. The property adjoins Portneys Lane to the north which connects Cornmarket Street and North Main Street via a pedestrian walkway. Cottoren’s Lane defines the southern boundary. The site’s strategic location combined with its City Centre zoning, supports a broad range of uses and aligns with the Cork City Development Plans goals for compact growth and mixed use generation. The site can accommodate high quality development that will contribute positively to the urban fabric and meet market demand for centrally located accommodation and hospitality services. The site is zoned ‘ZO 5, City Centre’ under the Cork City Development Plan 2022 – 2028 and the objective is ‘to consolidate and facilitate the development of the central area and to promote its role as a dynamic mixed used centre for community, economic, civic, cultural and residential growth. The subject building is designated as a Protected Structure in the Cork City Development Plan 2022-2028 (Ref. no. PS904). It is also recorded by the NIAH as being significant (NIAH ref. no. 20512660). The site is located in the North Main Street Architectural Conservation Area (ACA). BER: Exempt Key Points: - High profile site centrally located in the heart of Cork city centre - Excellent dual frontage onto Cornmarket Street and North Main Street. - Zoned ‘ZO 5, City Centre’ - Prime opportunity for a number of developments such as PBSA, Hospitality (Boutique Hotel / Micro Hostel) or PRS. - Cork is an established and top tier student city with approx. 29,000 full time students. Location The property is situated in the heart of Cork city centre and occupies a prime position on Cornmarket Street, adjacent to the Cornmarket Shopping Centre, and close to its junction with Grand Parade and Patrick Street. Cornmarket Street is situated adjacent to the historic CBD of Cork, only a short distance from the South Mall. University College Cork (approx. 26,000 students) is within approx. 1km of the site, Munster Technological University (approx. 15,000 students) is within approx. 5km and Griffith College (8,000 students) is within 2km of the site. The retail core of St. Patrick’s Street, Oliver Plunkett Street and Opera Lane are only a short distance away, with a broad mix of shops, restaurants and bars in the locality. The internationally renowned English Market is also nearby, which attracts tourists from near and far, cementing Cork’s reputation as the foodie capital of Ireland. Potential PBSA Scheme Douglas Wallace Architects have prepared a preliminary scheme for a mixed-use project comprising retail space at the ground floor level and 206 student accommodation bedspaces on the upper floors. It is proposed to re-develop The Loft furniture shop and an adjoining vacant plot to the north on Cornmarket Street. There has been a positive Section 247 Pre-Planning Consultation held with Cork City Council with respect of the development. The proposed development is a carefully considered architectural intervention that seeks to respond respectfully to the historical, urban, and human context of this prominent city centre location. The development will include the retention of the existing elevations of The Loft building on Cornmarket Street and the North Main Street. Along Cornmarket Street the proposed new building will be set back 5m from the line of the town wall and front elevation of The Loft building. The new construction will comprise a part three, part five, and part seven-storey building, featuring communal amenity spaces in three courtyards, a public outdoor seating area, general landscaping, and boundary treatments. There will be three stair cores and lifts within the student accommodation, one to the south on Cottoren’s Lane and two more, to the east and north of the central block. There will be a stair core at the western end set back from the North Main Street entrance. Given the city centre location there should be a strong opportunity for the scheme to be used for short term tourist or visitor accommodation outside of academic term times. A comprehensive pre planning pack for the potential development is available within the dataroom.