Westpark Shannon Agrees Sale of Landmark Business Campus to Fine Grain

Westpark Shannon Agrees Sale of Landmark Business Campus to Fine Grain
By Westpark Shannon Limited on  September 24, 2019


Westpark Shannon Agrees Sale of Landmark Business Campus to Fine Grain

24 September 2019: Westpark Shannon Limited announces the agreement of the sale of the Westpark Shannon Business Campus to Fine Grain Property Ltd., an international real estate investment company. 

Westpark Shannon is a leading-edge business campus, set on a 40-acre parkland site, offering exceptional global connectivity and a world-class business environment, located in the heart of Ireland’s Atlantic Way Business Corridor.

Westpark’s multi-storey buildings accommodate high-quality offices. The Campus has two fully tenanted Grade A office buildings comprising 200,000 square feet of premier office accommodation, four separate sites virtually ‘ready to go’ to develop high-grade office buildings, extensive car parking and ancillary lands. 

A third Grade A office building situated on the Campus is owned by AXA and is not part of the sale transaction.

Westpark, which is a profitable going concern, is a vibrant business community consisting of up to 50 companies employing up to 2,000 people. Global blue-chip companies include the world’s top two aviation leasing companies, GE Capital Aviation Services (GECAS) and AerCap. Other companies of note at Westpark include Enterprise Ireland, DHL, Pepper and a host of SME’s involved in the aviation, finance, IT and general trading services sectors

The Campus was established and developed by Westpark Shannon Limited’s Principals, Brian & Bridget O’Connell.

Announcing the agreement of the sale Brian O’Connell said: “Our vision was to build a world-class business park at this pivotal location in the Mid-West to attract high calibre global and Irish businesses across a range of sectors. The fact that we realised this vision, and built a sustainable profitable business, is a testament to our customers, our management and staff and more importantly, the flexible facilitation of our product offering.

“Today, the Westpark Shannon Business Campus is a prime example of the standard required to attract and retain high-quality international investment in Ireland, most particularly outside the Greater Dublin Area. The benefits of well-educated talent, connectivity, residential availability and lifestyle are now highly valued by international businesses locating in Ireland. When combined with high spec office facilities, these attributes create a compelling rationale for de-centralisation.   

“I am delighted that an owner, the calibre of Fine Grain, is acquiring the Westpark Shannon Business Campus because I know that they will build on existing achievements and sustain and evolve the standards expected by existing and prospective tenants. I have no doubt that, under their ownership, the Campus will continue to attract serious international and domestic investment into the region.”

Design and planning is in place for four further buildings which effectively gives the opportunity to build out in excess of another 400,000 sq. ft. The redesign of these buildings has incorporated the most up to date exacting standards with optimum operating efficiencies and will substantially be carbon neutral with panoramic 360° views of the River Shannon/Shannon Airport.

 

For reference:

Paul Clifford, Drury Porter Novelli

Paul.Clifford@DruryPN.ie  087 327 2161 /01 260 5000.