SHANNON Group has begun work on its latest commercial property development worth €8 million which will generate over 100 jobs during construction.
It is on a multi-use industrial space spanning over 60,000 sq ft, located in the Free Zone.
The project will take ten months to complete and will be constructed to international standards providing high energy performance from renewable sources, known as a Nearly Zero Energy Building (NZEB).
The new building is designed for both FDI and Irish enterprises seeking high-end multi-functional space, and is suitable for manufacturing, industrial and R&D use. It can be leased as either one unit, three separate commercial units (20,000 sq ft each), or two units at 40,000 sq ft and 20,000 sq ft respectively.
Limerick company Nautic Building Co Limited have been appointed as the main contractor.
Shannon Group CEO Mary Considine said: “We have now started work on the next phase of our property development solution offerings, having completed major infrastructure upgrades in the airport, and building on the positivity of the 26 routes that we have restored, including six new services.
“We are driving forward with our 2022 property development strategy at our Shannon Campus, providing quality property solutions to attract indigenous and FDI investment that will help growth in the region.
“This latest project has the capacity to attract more jobs into the region, further highlighting Shannon and the entire Mid-West region as a location for inward investment.”
The new building will be located at Shannon Free Zone West opposite the MeiraGTx facility. It is part of Shannon’s overall investment strategy which includes the Group’s current €4 million refurbishment project at Bays 135 and 137. Since the beginning of 2022, Shannon Group has already committed a total of €12 million in developing property solutions.
Owen Ryan has been a journalist with the Clare Champion since 2007, having previously worked with a number of other publications in Limerick, Cork and Galway. His first book will be published in December 2024.