Shannon Group offer 54,000 sq ft in industrial Free Zone
Computer-generated image of the new Meira facility in the Shannon Free Zone business park.
HAVING secured one of the country’s largest industrial deals of 2020, with 94,000 sq ft assigned in the Shannon Free Zone in Co Clare to biopharma/gene therapy company MeiraGTx, the Shannon Group and agents Savills are now offering the remaining 54,000 sq ft, marking a strong one million sq ft of development now delivered since 2014.
The letting offers comes as MeiraGTx’s construction programme, via Conack Construction, comes towards completion with a target date of the end of this year, in a two-phase gene therapy production schedule.
The Nasdaq-listed plc is taking the 94,000 sq ft in two buildings in a development being overseen by Shannon Group’s subsidiary company, Shannon Commercial Properties. The development will lead to around 100 jobs, it’s understood.
Savills quote lease terms of around €11 psf for the advanced manufacturing/production space on 10-year terms, and said the terms of the substantial deal with Meira GTx remained confidential.
The multi-million euro investment will be MeiraGTx’s second production facility, designed for the manufacture of commercial-grade gene therapies, viral vectors for gene therapies and the plasmid DNA that is one of the starting materials in viral vector production, designed to meet global regulatory requirements, including the cGMP, required by the US FDA.
The plasmid production facility is expected to be operational within months, and the viral vector manufacturing facility is set to be operational by year-end 2021.
The 148,000 sq ft now in advanced construction across three buildings in Blocks K&L will bring Shannon Group’s portfolio development since its establishment in 2014 come to one million sq ft of new and refurbished office, aviation and industrial commercial property facilities. It follows on investments in the location by Jaguar Land Rover, Edwards Lifesciences, Engine Lease Finance and GE Sensing.
Set between Limerick and Galway, with good motorway connectivity and international airport and port facilities, the Shannon Free Zone’s multi-sectoral business park accommodates 8,000 jobs and is said to house the largest concentration of FDI companies outside of Dublin. Other multi-national employers include Lufthansa Technik, Dell EMC, Element Six, Intel and Aercap.
Controlling more than 1,500 acres of development land in the mid-west, Shannon Commercial Properties own and manage seven business and technology parks comprising over two million square feet of building space.
Chief operating officer Ray O'Driscoll and MD of Shannon Commercial Properties Gerry Dillon described the construction of 148,000 sq ft of new commercial/logistic/advanced manufacturing space as "a key project" for the Free Zone as a "best in class modern, sustainable business park environment supporting commerce and employment in the mid-west".
Agents Niall Guerin and Emmet Finnegan of Savills are now leasing agents on Building 1 Block L, in 54,000 sq ft of industrial space which can be broken into units of 18,000 sq ft of modern high grade logistics and advance technology.
The three adjoining industrial units have eaves heights of seven metres, extensive glazing, grade level doors, and capability for support/office facilities, with good parking/HGV turning, electric vehicle charging points and bike shelter parking.
Commenting on recent (August) confirmation of the IDA-supported arrival of MeiraGTx to the park, Niall Gueirn said: “Shannon’s a well-established commercial location and home to some of the world’s largest companies. The quality of the buildings, variety and range of unit sizes being delivered by Shannon Commercial Properties should appeal to a diverse company profile from logistic operators to high end manufacturing and technology.”
Details: Savills 021-4271371.
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