A €50m redevelopment of the Capitol cinema site in Cork city centre has got the green light.

It has been confirmed that planning permission has also been granted by An Bord Pleanála for associated sites fronting both St Patrick's Street and the Grand Parade.

The project will consist of close to 100,000 sq ft of high end retail space, office space and restaurants.

It is estimated the development could create up to 1,000 direct and indirect new jobs.

The scheme, which was approved by Cork City Council in July, was appealed and subsequently got delayed by a number of months.

However, the ruling today means work on the site will commence in January - with a view to being mostly complete by December 2016.

Speaking on the announcement John Cleary, managing director of JCD Group, said: "We are really pleased with this positive decision and excited that we can now proceed".

"Even though the plans have been slightly modified, they are very similar to the original design that was approved by Cork City Council".

An economic impact report produced by DKM Economic Consultants estimates that it will contribute €92m to GDP and generate exchequer revenue in the region of €21m in a typical year.

It will also support up to 200 construction jobs in Cork in 2016.

You can also take a digital walk through of what the finished project will look like: