THE AMERICAN software firm Quest Software is to spend in the region of €20 million on the pre-purchase a new Irish base at City Gate Park in Mahon, Cork.

The company is based in temporary offices nearby and will move in August 2012 to a 6,503sq m (70,000 sq ft) block being developed as part of a larger scheme by John Cleary Developments.

Joint agents Knight Frank and Downing Commercial had been quoting selling prices of €3,230 per sq m (€300 per sq ft) for the scheme, one of the few speculative office developments under construction at the present time.

Quest Software plans to hire 150 staff in its new shared services centre in Mahon to serve Europe, the Middle East and Africa. It was set up in California in 1987 and employs 3,700 people including 15 in Dublin. Last year it reported revenue of over $700 million.