The scheme is expected to create around 350 construction jobs and a further 700 long-term employment opportunities.
The developer has applied to Cork City Council for permission to build the 160,000 square foot development at Anderson's Quay.
The project would strengthen the link between the city centre and the docklands, similar to how Howard Holdings’s City Quarter benefited the south channel.
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O'Callaghan's Managing Director, Owen O'Callaghan, said the eventual project would be only a few minutes walk of the city’s main retail district. Mr O’Callaghan said the proposal marked investment confidence in Leeside.
He said: "Cork has suffered in recent years because of a lack of large-scale, third-generation city centre office availability. Investment and jobs have gone elsewhere as a result.
"The development of office accommodation on such a well-placed site, near the railway and bus stations, will be very attractive and will address some of the city's office capacity problems.
"It also continues the successful renewal of the area which has occurred in recent years," added Mr O'Callaghan.
The executive has described the building's design as "striking and contemporary and characterised by a circular, cylindrical form".
Devised by Wilson Architecture, the building line will set back from the corner of Anderson's Quay/Clontarf Street to create a public space area.
Mr O’Callaghan said: "We see this as an opportunity for Cork to have a corporate headquarters type office building available in a city centre location.
"We are very confident about this project and it would be our intention to commence construction once planning permission is obtained."
(PR)
