Shannon Commercial Properties announced a €3.5 million development of a 100,000 square foot of industrial space at Shannon Free Zone today.
The announcement comes as the €21m first phase development of a major project at Shannon Free Zone is on track to be completed by the end of 2017.
The redevelopment of the Shannon Free Zone aims to make it more attractive for inward investment and job creation.
Shannon Commercial Properties has launched the development of a block of industrial buildings which adjoin airport lands.
On site at Shannon Free Zone development. Photo credit: Arthur Ellis
The site will be developed for office space, storage, distribution and warehousing and will be completed by May of next year.
The project will support 70 jobs during construction with K&J Townmore Construction Ltd appointed the main contractor and Collins Boyd Engineering Ltd appointed project managers.
CEO of Shannon Commercial Properties, Ray O’Driscoll said that the latest development at Shannon Free Zone is a project in what has been a successful year for Shannon Commercial Properties.
“Just over 12 months ago we announced our €21 million first phase programme for the redevelopment of the Shannon Free Zone and have already completed over €8 million worth of projects, with another €13 million set for completion in 2017,” said Mr O’Driscoll.
CEO of Shannon Group, Matthew Thomas, said that the interest from an inward investment perspective in the region is extremely high.
“We have a very competitive and affordable operating environment, have very strong third level institutions on our doorstep in Galway and Limerick and it’s a great place to live,” he said.
“Whether it’s the Limerick 2030 plan or the opportunities coming from Galway’s 2020 European Capital of Culture, there is a sense of momentum in the region,” he continued.
The programme has already completed a €1.3 million refurbishment of an office and warehousing facility at the existing Magellan Aviation Services Ltd building, a €6 million advanced technology manufacturing facility extension to the existing GE Sensing building and a €1 million refurbishment of Universal House, a four-storey office block, which was recently completed in November.
A further €8 million construction of a Grade A office block is due to begin in January 2017 and a €3.5 million construction of an advance technology manufacturing unit is due to be completed by the end of next year.
In addition to the €21 million investment plan, Shannon Commercial Properties will begin the development of a €3.5 million landscaping and public lighting upgrade at Shannon Free Zone in early 2017 which will be carried out over the next five years.
Mr Thomas said in order for the work of the City and County Councils, together with IDA Ireland and Enterprise Ireland, to be complemented, “we need to ensure that we have world-class commercial, industrial, office and warehousing space.”
The launch of Phase 1 of the Shannon Free Zone development is leading the way for the biggest single programme of planned investment on the west coast of Ireland in recent years.
Shannon Free Zone is one of Ireland’s leading international business parks with 7,000 people employed in over 150 different companies.
