A substantial Cork city centre site has been designated as an area of renewal for shopping under Cork Corporation's development plan review.
Major beneficiaries of the tax incentive scheme will include the Examiner Group of newspapers and Johnson & Perrott, the car sales and repair garage, both of whose premises are located on the 1.2-hectare (three-acre) site between Academy Street, Emmet Place/Drawbridge Street and Patrick Street.
The corporation yesterday advertised the plan, seeking applications for development in the area. It stated that "a number of key sites within the area currently in non-retail use are likely to be vacated, providing options for site assembly or reorganisation".
The purpose of designation was to facilitate development for "higher order retail uses; department store, fashion goods" to enable Cork to maintain its role as a primary location for regional shopping.
Mr Alan Crosbie, the Examiner Group's chief executive, confirmed current estimated valuations of its premises at £20 million. The area had been identified for the last five years by Cork Corporation for shopping but the Examiner Group had no plans to do anything for "the next two or three years".
However, it was the group's "mid to long-term plan" to move the printing press out of Cork, to vacate the current offices and relocate its advertising, editorial and administration in the city centre.
He said the group's property included offices for 400 people and a printing press. "The printing press is acting like an anchor insofar as it is too expensive to move our existing press.
"There is still a certain amount of life left in that press," he said, but the group was considering a new press in a different location.
The newspaper group, which publishes the Irish Examiner and Evening Echo, has further property nearby on the Quays, used as a paper store and garage. As a paper store would no longer be required once a new printing press was located elsewhere, possibilities included relocating editorial, advertising and administrative staff to a purpose-built office in that building, "which is just 100 yards" down the street.
Mr Crosbie added, however, that these were just their "present thoughts".
Mr David Whitaker, managing director of Johnson & Perrott, said it would be "a year at least" before it made any move. It was "continuing to do our business" there as it had not yet "found a site that would have a high enough profile for us".
He declined to put a value on the property.
Mr John O'Donnell, Cork Corporation's planning officer, said the corporation was "addressing an opportunity that is likely to come up".
He said it was not a "big redevelopment" area and the corporation aimed to assist existing operations.
