by Alan Jacques
THE first significant construction project to be undertaken in the Mid-West since the economic collapse is now under way with a €25 million extension about to be added to the Hamilton House complex at the National Technology Park in Plassey.
Brookvale Trust, a major developer of prime office space in the Mid-West region, has commenced construction on the new four-storey office building. Designed by Thompsons Architects, the development is due for completion next July.
Phases 3 and 4 of the Hamilton House development will represent an investment of approximately €25 million into the local market and represents a major vote of confidence in the commercial property market in the region.
The landmark office building will consist of around 40,000 square feet of office space with on-site car parking. 20,000 square feet of the development has already been pre-let to a multinational company.
Phase 3 Hamilton House is the first privately developed office block to commence construction by a developer in a number of years in Limerick. According to Brookvale Trust, the decision to advance the project was influenced by a growing demand for large scale office accommodation in the National Technology Park.
The sole letting agents representing Brookvale are Power & Associates Commercial Property Consultants and Chartered Surveyors. Patrick Seymour of Power & Associates’ Limerick office explained that despite the market remaining “challenging” there is a strong demand for quality office accommodation at the National Technology Park.
“The park’s proximity to UL and the M7 make the location attractive for a host of multi-national companies in the technology, ICT, financial services and software industries, that are located in Limerick,” said Mr Seymour.
In recent years, Brookvale have secured top line tenants such as E-Net, Northern Trust, Cook Medical, QAD, Thomson Reuters, DTS and Gilt Groupe into the Hamilton House Developments.
Phase 3 of the development will bring the total accommodation within the Hamilton House scheme to over 140,000 square feet.
Brookvale have recently been granted a notification of planning permission for the development of a further office block of 55,000 square feet which, on completion, would provide nearly 200,000 square feet of offices in the development.