Shannon Airport Group puts 45-acre site up for sale in Limerick City

Shannon Airport.

THE SHANNON Airport Group has put up for sale a strategic 45-acre site in Limerick City, which is zoned for a data centre, the Limerick Post has learned.

A spokeswoman for the group, which owns 160 acres of serviced development land and two million square feet of commercial space at the Shannon Free Zone situated around the County Clare airport, said: “I can confirm that we have put it on the market”.

According to the Limerick City and County Council’s current development plan, the 45-acre site in Rosbrien located adjacent to the suburb of Dooradoyle and the Crescent Shopping Centre is currently zoned for a data centre.

The state company’s Group spokeswoman said “any use of the land would be a matter for a purchaser, and any development would be subject to planning permission”.

“The lands are located in Rosbrien in the southern suburbs of Limerick City, 2.5km south of the city centre and located to the west of the M20 motorway, and encompasses 45.53 acres.”

Sign up for the weekly Limerick Post newsletter

The group issued a tender in recent days to engage a commercial real estate partner to assist with the sale.

According to the company’s latest published annual report for 2022, its after-tax profit declined by €10million despite gaining a rebound in revenue and passenger traffic after Covid-19 air travel restrictions were lifted.

Group turnover from continuing operations rose 76 per cent to €60.7 million but its cost of sales (up 119 per cent to €8 million) and administrative expenses (up 49 per cent to €44.5 million) also increased.

The company’s earnings before interest, tax, depreciation, and taxation increased to €16.5 million from €8.6 million in 2021, however its after-tax profit declined to €15.6 million from €25.9 million a year earlier.

The report shows that Shannon Airport Group received €540,000 last year in Covid-19 wage subsidies, down from €3.3 million in 2021.

Some 1.51 million passengers passed through Shannon Airport last year, up from just 380,000 in 2021, when strict Covid-19 air travel restrictions were in place.

Meanwhile, the Group’s heritage sites welcomed 383,000 visitors in 2022, down from 495,000 in 2021, reflecting a reduction in the number of sites it managed during the year.