Shannon Commercial Properties (SCP) says it is to accelerate its €40m investment programme in 2018.
It aims to have brought 500,000 sq ft (46,450 sq m) of space to the market in the four-year period from 2015 to 2018.
SCP, a Shannon Group Company, owns and manages one of Ireland’s largest property portfolios, including eight business and technology parks, over two million square feet of building space, more than 200 commercial buildings and in excess of 1,500 acres of development land.
Among these is SFZ (SFZ), home to 160 companies employing over 7,500 people.
According to the company, investment in state-of-the-art property solutions at the SFZ is to continue on an upward curve to capitalise on the demand for commercial property in the region.
Projects include bringing upgraded office, manufacturing and warehouse facilities to the market.
The aim is to create a hi-tech eco-system in the Mid-West that it claims is already reaping dividends for the region. Further project announcements are expected to follow shortly.
Commenting on progress, MD, Ray O’Driscoll, said that this is the biggest investment programme undertaken in the SFZ of late. Last year was considered incredibly successful, with the completion of a number of large refurbishment projects and commencement of construction of new Grade A office and advanced manufacturing units.
O’Driscoll continues: “We are accelerating the programme to make sure we have sufficient capacity to capitalise on the interest from expanding Irish and international businesses in establishing bases here. We have already seen evidence of that with the recent 150 job announcement by Jaguar Land Rover and other companies, including in the aviation and aerospace cluster such as Jetpower.”
Of the €40 million that will have been invested in new facilities at the SFZ by year end, uptake has been remarkably strong.
Some 90% of this new capacity has already been taken.
Some of the key developments in 2017 include beginning construction of a 56,000 sq ft Grade A office block and a 33,000 sq ft advanced manufacturing unit along with securing the first Starbucks drive-thru in the country.
The Gateway Hub, a serviced office/co-working/incubation facility at SFZ, was opened and the Propeller Shannon programme for aviation start-ups launched during the year.
Other projects completed in 2017 include a new 100,000 sq ft advanced technology manufacturing facility for GE Sensing along with the conversion of 100,000 sq ft of industrial facilities into five units for office, engineering and warehouse use.
It also saw completion of the redevelopment of a 56,000 sq ft office and warehousing facility for Magellan Aviation Services and the refurbishment of Universal House, a 15,000 sq ft four-storey office block.
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