Building work starts on €25million Limerick development

by Alan Jacques

alan@limerickpost.ie

Full page fax printTHE 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.

Sign up for the weekly Limerick Post newsletter

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.

 

 

Advertisement