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Work begins on 'transformative' €80m Limerick office and residential block

1BQ will accommodate up to 600 workers once complete
Work begins on 'transformative' €80m Limerick office and residential block

1BQ the new office, residential and retail development on Limerick's Bishop's Quay.

Construction work has commenced on a new €80m office and residential development on Limerick's Bishop's Quay.

The nine-storey riverside block, which has been officially named 1BQ, will be built on the site of the old ESB building and is led by the development company, Kirkland Investments. It is due for completion in the autumn of 2023.

The project had been delayed by the Covid-19 pandemic restrictions but the sod was officially turned on the project yesterday that will see 150 people employed on the site during the construction phase. Once complete the building will have the capacity to accommodate up to 600 workers.

1BQ will comprise 110,000 sq ft of office space and 34 luxury apartments, retail space for hospitality businesses and more than 100 underground car parking spaces.

1BQ the new office, residential and retail development on Limerick's Bishop's Quay. Picture show's the entrance from Henry Street.
1BQ the new office, residential and retail development on Limerick's Bishop's Quay. Picture show's the entrance from Henry Street.

Rudi Butler, Chairman at Kirkland Investments, said they hope 1BQ represents the beginning of a significant transformation for Limerick City. "A transformation that we as a local development company are keen to champion," he said.

"Whilst we have been purposefully measured in our approach in terms of its scale, 1BQ is an ambitious development. It’s set to be the first building of this grade in the city and is a significant milestone as the city recovers from the pandemic and continues to compete with national counterparts.

Initial construction work began in May 2020 as the ESB building on Cecil Street was demolished, along with the rear annex of the former Bord na gCon offices next to Henry Street Garda Station.

“Limerick already has excellent travel links and a skilled workforce, so we know that 1BQ has the potential to support Limerick’s growth by delivering the standard of workspace international companies expect. In addition, it will deliver the standard of living and leisure that consumers have come to demand. We are targeting the third quarter of 2023 for the official opening," Mr Butler said.

Joint commercial agents on the development are Cushman & Wakefield and Savills.

Ciara McCarthy, Divisional Director at Cushman & Wakefield’s said that despite the changing structure of work as a result of the pandemic, there is demand for premium office space as companies look to adopt the hybrid approach to working. 

"Limerick is one of the most accessible cities in Ireland and provides ease of access to a large catchment of skilled workforce. Kirkland Investments’ timing with 1BQ is perfect and will set the tone for the city moving forward," she said.

Peter O’Meara, Director at Savills Ireland said1BQ offers world-class city centre office accommodation on the western seaboard.

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