Why the vision for Waterford's Railway Square is now becoming a reality

The city has seen a number of saignificant jobs announcements in recent weeks

Railway Square has approximately 70,000 sq ft of office space with Infosys now signing up for 25,000 sq ft.

The announcement of 250 jobs in Waterford is set to transform the long-dormant ground floor of an €80m complex in the city centre into a hive of activity.

Long a source of tutting for passers-by, Railway Square's ground level has lain empty at the mixed-use development since it was built in the mid-00s.

Apartments on the upper levels have always been attractive, but it has been a battle to fill the rest with commercial businesses; Penneys and Costa Coffee were briefly tenants before taking up permanent residence on Barronstrand Street in the core city centre, while an Odeon Cinema and TK Maxx have been the mainstays in recent years.

However, the past 15 months have started to see other units fill the 140,000 sq ft complex. 

The recent announcement by Indian technology company Infosys is now viewed as another big step towards populating an area that was the station to get the train for a seaside visit to Tramore in days gone by.

The complex is owned by the Causeway Group, a property management company that runs a number of bars and hotels in Waterford.

Its CEO Sean Johnston has long considered Railway Square to have “massive potential” that needs to be tapped.

“Our vision for Railway Square has always been to create another vibrant, hive of activity in Waterford City Centre,” Johnson told the Irish Examiner. 

Like everything else, Covid-19 has delayed progress but with the recent announcement by Infosys of 250 new jobs, we feel that Railway Square’s original vision is becoming a reality.

This vision is trying to create a standalone, sustaining hub off the city centre.

While one popular nearby burger bar, Grady's Yard, closed in recent weeks, it is hoped the footfall of the Infosys workforce will lead to a spinoff around the area.

The complex is constructed as two separate blocks and contains 175 parking spaces in a basement car park. 

It has approximately 70,000 sq ft of office space overall, with Infosys now signing up for 25,000 sq ft, and around 30,000 sq ft is taken up by the Causeway Group and other personnel. 

This leaves 20,000 to fill — the Group is in late-stage talks on this and hopes to make an announcement in the New Year. This would be the final piece of the puzzle, Johnson said.

“The complex is located within walking distance of Waterford City and when you walk around it, you get a feel similar to areas such as Smithfield in Dublin.

"Waterford City is officially the best place to live in Ireland and that has certainly been reflected in the enquiries that we’ve received from people interested in moving their operations here.” 

We hope to have Railway Square almost fully inhabited by the end of 2022, and this will be another feather in Waterford’s already impressive cap.

As well as hosting apartments on the upper levels, the space has seen Mexican restaurant/bar Pinks as well New York-themed cafe NYCD open over the past 15 months.

They are set to be joined by Infosys BPM, which is opening an office to provide voice support, customer service and technical support operations as part of its wider work.

The new roles in Waterford will include senior-level positions in finance, HR, planning, and capacity management.

Once the staff move in full-time, they will share the Railway Square complex with the Legal Aid Board.

The development's ground floor has been empty for much of Senator John Cummins' time in politics and has been something often raised by constituents.

"You need to see a ground floor animated with activity, otherwise it can seem vacant," Mr Cummins said. 

So while a lot of other levels were filled with apartments, this is huge for the entire complex and the whole city to be honest.

As for what's attracting the likes of Infosys to continue building in the city, while Waterford Institute of Technology's steady stream of graduates is one key part, another major draw is the cheaper and available office space in Waterford, compared to Dublin and Cork.

IDA Ireland’s Regional Business Development manager for the South East Brendan McDonald said Railway Square proved to be "the ideal property solution for the business process management arm of Infosys to expand its operations" in Ireland.

It's this "availability of attractive, turn-key properties" that is key to winning FDI investment and helping those already established to expand their operations, he told the Irish Examiner.

Infosys BPM CEO Anantha Radhakrishnan viewed the new office as not just allowing substantial growth for the company, which began its Ireland operations in Dublin in 2014 and is now listed on the New York Stock Exchange, but as also offering "a significant boost to the regional economy" in the South East.

The Infosys announcement comes just weeks following Chicago market intelligence firm Tegus declaring it is bringing 100 jobs to the city centre, to be based at Boxworks.