A commercial site of 1.5 acres near the centre of Cork city has been sold twice within about two months for around £5.3 million - easily a record for the city. Northgate Investments, a company controlled by businessmen Dan O'Keeffe, Brian Murphy O'Connor and Pat Hegarty, bought the site at Corkmarket Street from the Clondalkin Group plc following the settlement of legal proceedings. The site was subsequently sold on to an undisclosed buyer and it is thought likely that it will be used for a new hotel. There is a 60,000 sq ft printing works on the site, formerly occupied by Guy and Co, a subsidiary of the Clondalkin Group plc, who have relocated to a new premises in Ballincollig. The site is located less than 100 yards from the top of Patrick Street and Grand Parade. Patrick Curran, of Harrington Bannon, said the site had been sold by private treaty.

Declan Stone acted for Northgate.