PROPERTY
Image: Liam Horgan
foreign companies looking at Ireland as a location, IDA Ireland has ‘put their money where their mouth is’ as the saying goes, and invested in constructing world-class properties. Giving potential
A
SPOTLIGHT ON TRALEE Tralee is the Capital of Kerry, known as the ‘Kingdom’ County. It is strategically located in Ireland’s South West, a vibrant and dynamic area with a population of over 1 million. Tralee’s proximity to Kerry,
Cork and Shannon Airports with their excellent access to Dublin, Europe and the rest of the world is a distinct advantage for the area. In Tralee the IDA acquired a
site at Kerry Technology Park (KTP) from Shannon Commercial Properties, and constructed a c.2,495m2
(c.26,856 ft2 ) building
on a 1.0 ha (c.2.27 acre) site. The site was chosen as a suitable location for Advanced Building Solutions due to its sitting as a neighbour on the campus of the Institute of Technology, Tralee. In line with the needs of
current FDI client companies, the building includes c c.930 m2 (10,100 ft2
over two floors and c.1,552m2 (c.16,705 ft2
) of high-tech
manufacturing space with a 9m (c.30 ft) eaves height designed to facilitate a mezzanine floor. The facility has been designed
to be capable of 100 per cent expansion to meet future client growth requirements. In addition the building is already connected to all the essential utilities with agreements in place with Irish Water and Telecoms. The current power supply to the building is up to 200 kVA with ample additional capacity available locally if required by a new occupant.
) ancillary office space investors a ready-to-go
solution to buy or lease significantly eases the pain points of searching for locations and investing in planning and construction, and allows them to concentrate on getting their business going. Completed new buildings are ready to be
shown to investors, waiting to be converted to a factory or R&D centre, allowing for a seamless move. IDA Ireland are balancing a fine line between offering companies an almost ready-to-go solution, but also a building that can be tweaked to suit their needs. “These buildings are flexible, and can be
tailored for multiple uses including industrial but also including offices or service type solutions,” explains Damien Kilgannon, Head of Property with IDA Ireland. “While they are currently presented as
offices and industrial mix there is no reason why the industrial space couldn’t be fitted out to reflect a business or services type offering for full office use. It is something much more than just an industrial building.” The buildings are well-serviced in terms of
water, data, telecoms and power, and finished to a Category A standard, ready for the tenant or purchaser to fit out to their requirements. “It is absolutely flexible for the end user,”
Damien emphasises. “They can make changes to the building to suit whatever their needs might be at that point in time.”
CROSS COUNTRY The Advanced Building Solutions initative was unveiled in 2015, with a commitment to invest €150 million over five years to construct energy- efficient facilities in nine locations around Ireland. The locations are all in smaller cities or major towns, and buildings have already been constructed in Athlone, Sligo, Tralee, Castlebar and Waterford, with further plans underway for sites in Carlow, Dundalk, Galway and Limerick. The goal is to attract high-tech employment to regional locations, and of the facilities completed so far, Athlone, Sligo and Waterford have already secured tenants. Three more technology and office sites in
Dundalk, Limerick and Galway are under construction while further down the pipeline is an office complex for Carlow and second sites for Waterford and Athlone.
52 INNOVATION IRELAN REVIEW
s part of their mission to create an attractive investment opportunity for
REGIONAL APPEAL In order to look at regional locations that would attract FDI, and where buildings would be located, IDA Ireland’s team undertook a review of multiple locations in Ireland where there is an existing FDI base, major infrastructure, an existing educational base (an institute of technology or a university), and a population with suitable qualifications (for example in science, engineering and technology). The locations chosen not only offer long leases
at rental prices which are significantly cheaper than Dublin, but also are mainly based in industrial parks in towns which have an institute of technology which can deliver a steady stream of highly-qualified graduate jobseekers. “They were chosen as locations that had a
good mix of skills and a good mix of existing FDI and indigenous companies. They had identified deficits in good quality property solutions available through the private market in those locations,” explains Damien. He continues, “It’s looking at the available
property solutions in those locations, the quality of those and the needs of industry, and then focusing on existing client base and the demand for high quality and flexible Advanced Building Solutions.” Investing in regional sites is essential to
provide a boost for locations where private developers, whose interests are focused on the capital city, are less likely to take on a risk, especially without a committed tenant in place. “In terms of the local environment we looked
at existing property offerings, and if there was industrial building solutions available in the locations that were vacant or were being marketed by the private sector IDA Ireland would wait until those buildings were filled, or try to work with the private market to fill them,” Damien reveals. “When we identified locations that had a
deficit of quality buildings to attract FDI that would have been a key driver in terms of making the decision to invest in those locations.” The capital city has a thriving FDI scene,
and this makes it attractive to investors who want to situate in proximity to other world-class companies and the facilities and amenities that come with the territory. However, balanced regional investment is seen as a sustainable long-term plan, with better quality of life and more affordable housing making towns across Ireland attractive to potential employees. In a competitive jobs market, basing in a location where families can settle aids companies to attract and retain a quality, committed workforce, and Damien concurs that the cost
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60
