A decision by An Bord Pleanála to grant planning permission for a €50 million redevelopment of the Capitol Cinema in Cork city, has been welcomed by Minister for Agriculture Simon Coveney.
Mr Coveney said the decision, which incorporates a food innovation centre, was one of the most significant for Cork city centre in decades.
"This development has the capacity to hugely increase footfall at the Grand Parade end of the city and will bring at least two new major retailers to the city centre. This is a high end and high quality strategic development and will add to the positive momentum in the city."
The redevelopment of the 0.65 acre site on the Grand Parade by John Cleary Developments is expected to deliver up to 450 jobs in retail, offices and the proposed food innovation centre.
Mr Cleary said a design of the proposed Capitol building is ongoing. Construction at the site is expected to require 200 people and is due to begin shortly with the new development expected to open for business in early 2017.
“We are very encouraged by the level of interest expressed in this unique location and are in detailed negotiations with well-known retail brands in relation to locating in the development which will really add to the existing retail mix in the city centre,” said Mr Cleary.
“The 36,000 sq ft of next generation office space with capacity for up to 350 people, will also be a welcomed addition to the city centre and has a huge amount to offer to occupiers situated in the heart of the city,” he added.
“Our experience has shown that delivering new grade A office space at up to 50 per cent of the cost of the greater Dublin area, combined with Cork’s highly educated talent pool, has made Cork a European destination of choice for many multinational companies.”
He said food heritage and innovation played a big part in the development and the close connection to the English Market was being respected through the Food Innovation Centre adjacent to the market.
“The project also involves the fondly remembered and iconic Oyster Tavern, established in the 1800s being restored to its former glory with an upmarket restaurant and bar, with produce sourced from the neighbouring English Market,” he said.
