'Disappointing': Planning permission for 15-storey Prism development in Cork city expires

Four and a half years on from the turning of the sod on a 15-storey Prism building in Cork city centre, planning permission for the building has now expired, a situation Cork Business Association (CBA) has described as “disappointing”.

In March of 2020, then-Chief Executive of Cork City Council Ann Doherty and then-Lord Mayor John Sheehan formally turned the sod on The Prism Building, a planned development by Tower Holdings Group in the city centre.

Located near Parnell Place bus station the building was designed by Cork-based Reddy Architecture + Urbanism, and was described as “a first of its kind in Ireland”.

Permission for the development, granted in 2019, expired on August 30. Tower Holdings Group lodged an application on August 21 for a five-year extension “to provide sufficient latitude and flexibility to deal with any external or unforeseen issue that could arise.” 

The company explained that “construction works are currently on pause due to the absence of project finance resulting from a downturn in the commercial real estate market as a consequence of covid-19”. 

The council responded that the work undertaken to date “is not substantial” and the Planning and Development Act 2000 removes “the possibility of an extension of duration for un-commenced development or development where substantial works have not been carried out”.

Thus, “there is no provision under the legislation to consider an Extension of Duration for the proposed development,” according to the council.

In the extension application, the company said the sub-structure of the building has been completed at basement level, and it has purchased further substructures, frame, internal and external walls, stairs, site services, and lift installation for the development.

Preliminary costs have also been incurred for hoardings, licenses, scaffolding, ESB connection, insurance, road sweeping, labour, craneage, tools, and waste disposal.

Demand for new commercial office space has greatly declined since the pandemic, so “funding for completing the project is not currently available until the commercial market recovers”, the extension application stated. “Construction will recommence on site when demand for office development strengthens, and the required financing becomes available.

“It is anticipated that the office market will recover sufficiently to allow the development to be completed within the next five years, given the downward trends in interest rate and a change in investor sentiment,” they told the council.

Lawrence Owens of the CBA told The Echo, “it’s a disappointment after five years to find out it’s not going ahead.

“I don’t think there’s any mechanism there to extend it — they’d have to start again. It’s a difficult area and a complex site that would really benefit from regeneration.

“The plans there were interesting and the building would have been fairly iconic in of the look of it, and it would have been a great addition to Cork,” he said.

Mr Owens added that when a development like this is completed, it often inspires more development or upgrades of buildings in the area.

“We were delighted to see the development proposed, and they did some works but obviously not enough in the eyes of the council, so this news seems to be a legacy of the pandemic.”

He added that the CBA hopes to see a greater demand for office space in the coming years.

The proposed tower, on a triangular derelict site near the bus station, would have stood at 15 floors tall, offering own-floor office space with panoramic views over the city, as well as a rooftop terrace. Tower Holdings Group and Cork City Council were approached for comment.