Industry & Business

Fine Grain invests €35m in Limerick office scheme for 400 staff

 Breaking News
  • Plastics Action Alliance Sets Targets to Achieve Sustainable Reduction in Use of Plastic Plastics Action Alliance, the recently formed group that comprises of 11 leading agricultural processing and food businesses in Ireland, has set out its key objectives. The industry leading group aims to significantly reducing the use of plastic packaging across its members’ operations. Formed at the end of 2018, the Plastics Action Alliance is a collaboration that [...]...
  • Nearly 45% of Irish Employees Say Their CEO Isn’t Visible to Staff Nearly 45% of employees say that their CEO isn’t visible to staff and discourages them from dropping into their office, according to a new report published by Dublin-based communications agency PR360. Almost 30% of CEOs rarely or never socialise with staff, and a third of employees say that their CEO doesn’t even know their name. The PR360 [...]...
  • SEAI Leads €2.6 Million European Project to Unlock Potential of Ocean Energy The Sustainable Energy Authority of Ireland (SEAI) is leading a new pan-European project, Ocean Power Innovation Network (OPIN), which aims to accelerate the development of the ocean energy sector. With a three year budget of €2.6 million, SEAI will partner with organisations in the UK, Belgium, France, Germany and the Netherlands to explore ways to [...]...
  • The UK National Construction Expo – The Arena MK, Milton Keynes – 1st May 2019 The UK National Construction Expo is being held at the Arena MK, Milton Keynes in England on Wednesday, 1st May 2019. Although British construction activity overall has slowed, chiefly due to businesses continuing to postpone major building projects due to Brexit uncertainty, which is impacting the commercial construction and civil engineering sectors, house building remains buoyant. Of [...]...
  • Skillnet Ireland Announces New Funding For Businesses to Upskill Employees Skillnet Ireland, the national agency responsible for the promotion and facilitation of workforce learning in Ireland has announced up to €2 million worth of funding which is being made available to businesses, industry bodies or enterprise groups who wish to establish a new Skillnet Learning Network. Skillnet Networks are enterprise-led learning networks, working to support businesses, industry [...]...

Fine Grain invests €35m in Limerick office scheme for 400 staff

Fine Grain invests €35m in Limerick office scheme for 400 staff
March 18
19:28 2018

Fine Grain Property, an Irish-Singaporean commercial property vehicle, is investing €35 million in a new office development for 400 staff at a Limerick business park used by IDA Ireland to attract technology multinationals.

The new four-storey development at the IDA National Technology Park in Plassey, 6km from Limerick city centre, will take 12 months to construct, Fine Grain says.

The scheme is understood to be in the final stages of the planning process, although Fine Grain says it is still open to the idea of tailoring the building for the specific needs of a tenant, if required.

The development site was acquired by Fine Grain as part of a €25 million investment that also included three adjacent buildings in the technology park. Those are currently occupied by tenants including Cook Medical, clinical research group ICON, and Enet, the sole bidder for the National Broadband Plan.

The cost of construction for the new building, which will cover a total of 56,000sq ft, is estimated to be €10 million.

Fine Grain is also developing a new office scheme in Galway, while it spent €8 million on an office building at Cork Airport Business Park in December. It also owns developments at the EastPoint business park in Dublin.

Irish arm

The Irish arm is run by chief executive Cormac Ó Tighearnaigh, the former chief financial officer of the Jurys Inn hotel group. It is chaired by former chairman of Telecom Éireann and one-time KPMG managing partner Ron Bolger.

The group’s investors include a number of wealthy private individuals from Asia, as well as the State-backed Ireland Strategic Investment Fund.

The Irish operation is part of the wider Fine Grain group based in Singapore, where it was founded by former HSBC banker Colin MacDonald.

Mr Ó Tighearnaigh said the Limerick scheme was “consistent with Fine Grain’s strategy of investing in business parks, industrial zones and logistics hubs”.

In December, Fine Grain announced it planned to raise up to €75 million, which would be leveraged by a similar amount, for a €150 million fund to invest in Irish commercial property.

About Author



Related Articles

New Subscriber

Subscribe Here


National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories

Upcoming Events

  • No upcoming events
AEC v1.0.4