Limerick investment programme could create 5,000 jobs
21 September 2016
The biggest single Irish commercial property development programme undertaken outside Dublin has been unveiled with the launch of a special purpose company to accelerate Limerick’s emergence as one of Europe’s most attractive investment locations.
Limerick Twenty Thirty Strategic Development DAC (Designated Activity Company) is the first unit of its kind created by a local authority to deliver a city and county wide programme of investment.
Its objective is to deliver over €500 million worth of transformational investment infrastructure across four strategic sites in Limerick City, with the capacity to create in excess of 5,000 jobs over the next five years.
It will prioritise the redevelopment of 1.4 million sq ft of prime real estate across the four sites into state-of-the-art office, retail, residential, education and enterprise space. The investment programme will put the required infrastructure in place to accelerate inward investment to the city and county, both from the indigenous and FDI sectors.
The four key sites prioritised for Limerick Twenty Thirty DAC are:
- The 112,000 sq ft Gardens International Office on Henry Street;
- The 550,000sq ft Opera site at Rutland Street;
- The Cleeves Riverside Campus on the banks of the River Shannon at Fernhill comprising 8 acres and 100,000 sq ft of existing space; and,
- The 340,000 sq ft Troy Studios Film Hub in Castletroy, where an €8 million fit out is nearing completion ahead of the commencement of production.
“Limerick has embarked on a remarkable journey since 2009 when I was asked to chair the mid-west task force on job creation. Today, with the launch of the Limerick Twenty Thirty Company, it steps onto a new platform,” said Limerick Twenty Thirty company chairman Denis Brosnan.
“I am determined that this company will take up on the brilliant work and huge gains achieved and deliver the type of assets required to attract further transformational inward investment. We are sending a message far and wide, and not least in the window of opportunity for FDI post-Brexit investment, that we are open for business and capable of competing with the best for it,” he added.http://www.engineersjournal.ie/2016/09/21/limerick-investment-5000-jobs/http://www.engineersjournal.ie/wp-content/uploads/2016/09/Limerick-City.jpghttp://www.engineersjournal.ie/wp-content/uploads/2016/09/Limerick-City-300x300.jpgNewsBrexit,investment,jobs,Limerick,Limerick City & County Council