IDA gets bite of the apple in €1.25 million Hollyhill city council land sale
The disposal of a nine acre council-owned site is said to pave the way for a new expansion of Apple's Northside campus.
A nine acre plot of city council land in Hollyhill will be sold to the IDA (Industrial Development Agency) following Monday night’s council vote in favour of the plan, which is rumoured to pave the way for a further expansion of tech giant Apple’s Northside campus.
22 councillors voted in favour of disposal of the land for €1.25 million to the Strategic Property Division of the IDA. Two councillors voted against the sale, while one abstained.
Apple has been involved in pre-planning meetings with the IDA and Cork City Council in early 2022.
The nine acre (or 3.81 hectare) plot is the first of two plots that would be necessary for Apple to further expand, with a second, larger plot subject to a separate decision.
While most councillors hailed the disposal as a positive step, several councillors called on money raised by the sale to be ring-fenced for developing amenities in the local community.
“The truth is that many residents do not feel well-served by Apple in the area,” Cllr Fiona Ryan said. “The North-West ward does not see a return from having one of the world’s most profitable companies in their community.”
She said funds generated by the sale should be ring-fenced for the provision of a North-west Regional Park.
Cllr Lorna Bogue questioned whether €1.25 million for nine acres constituted market value for the land. “The disposal is subject to protocol and the lands have been professionally valued,” Director of Corporate Affairs Paul Moynihan responded.
Cllr John Sheahan said it was a “vote of confidence in the area” that “sends out a positive signal about the area. It’s part of our job to question, debate and discuss the merits of any disposal, and that’s welcome too.”
The role of large multinationals in creating competition in the housing market was referenced by Cllr Colette Finn, who said "there needs to be “a dividend to the local community, and larger companies may need to think about accommodation for staff in the way that Guinness used to do in the past, for example.”