First office block in Limerick's Opera Square development on the market
‘Significant interest’ in six-storey tower which has space for 1,000 workers
THE first office block in the €200m Opera Square project has been launched to the market this week.
One Opera Square, a six-storey building in the heart of the city centre development was unveiled in the presence of Finance Minister Paschal Donohoe.
The complex comprises of around 12,111 square metres of office space.
It forms one part of the Opera Square development, which will ultimately include a 14-storey tower, a new city library, a hotel, apartments, retail and dining units, alongside a civic plaza.
The six-storey building brought to market this week is worth an estimated €80m, the promoters have said, and has space for 1,000 employees.
It was funded through a partnership between Limerick Twenty Thirty, which is the development firm behind Opera Square, and the Ireland Strategic Investment Fund.
Abbreviated to Isif, this is a State-owned financer designed to support economic activity and employment in Ireland.
Former Johnson and Johnson executive Barry O’Sullivan, who chairs the partnership, has said there has been high interest from companies interested in leasing space in the building.
He believes this development shows what can be achieved when local ambition is matched with the scale and strength of investment vehicles such as Isif.
“Together, this has created a world-class commercial building that will provide high-value jobs, attract international investment and set new standards in sustainability. This type of collaboration could also unlock further opportunities in the region,” he said.
Mayor John Moran added: “We have big ambition in Limerick, to compete with other cities across Europe as the location choice for talent and business alike. To do that, we have to build a competitive offering in which to live, work and invest. Part of that is creating world-class workspaces and One Opera Square is a brilliant model for that.”
Mr Donohoe added: “The launch of One Opera Square is a key milestone in Limerick’s regeneration and urban transformation. This development demonstrates how strategic ambition and close collaboration amongst all stakeholders can help unlock Ireland’s regional potential for both indigenous business and foreign direct investment.”
Council director general Dr Pat Daly said: “One Opera Square reflects our commitment to continuing to have a vibrant, sustainable and globally competitive city centre that supports jobs, innovation and quality of life.”