Clyde Real Estate, a new commercial property firm headed up by Sean Gallagher, has announced that it has completed the largest commercial property transaction in Ireland in the first quarter of 2015.
At over 300,000 sq. ft. and located in the IDA Business and Technology Park in Dublin 15, this high quality office campus was the former headquarters of technology giant, Alcatel Lucent.
In recent weeks the firm has also acquired the former Braun facility in Carlow from Proctor and Gamble. With 230,000 sq. ft. of available accommodation, it is likely to be one of the largest commercial property deals to be transacted in the second quarter of 2015. Gallagher says the company has plans to develop this 30 acre site into a dedicated Corporate & Technology Park for the South East.
Over the last 12 months, Clyde Real Estate has acquired almost 1 million square feet of office and commercial space throughout the country, and is working on a pipeline of further acquisitions.
“We are focused on acquiring substantial office and commercial properties which will be made available to meet the growing needs of indigenous Irish companies, corporates and multinational firms seeking to establish or expand their operations here,” explained Gallagher.
The company’s existing clients include well-known names such Citibank, Alcatel Lucent, Viatel, Ask.com and Paragon Global Resources.
“Clyde Real Estate is a business-led property venture that has been founded by experienced business builders,” said Gallagher. “Each of us has grown our own technology companies and we feel uniquely placed to understand the flexible and high specification accommodation needs of modern business,” he added.
Explaining the company’s strategy, Gallagher went on to say that, “The lack of high quality office and commercial space in many areas of the country has been identified by the National Competitiveness Council and the IDA as posing a serious threat to Ireland’s ability to continue to attract foreign direct investment into these locations. In developing Clyde Real Estate, we are acutely aware that providing strategically well located facilities is key to being able to sustain Irelands’ economic growth,” added Gallagher.
Currently completing its first investment round of €25 million, the firm is in negotiations to acquire further facilities nationwide as part of its next portfolio. Gallagher says the company is focused on building a substantial office and commercial property portfolio and to becoming a key player in the sector both here and internationally.
“In particular, we are currently focused on acquiring quality assets in towns and cities where there are Universities and Institutes of Technology who can provide a steady supply of talent to companies choosing to set up in these locations,” explains Gallagher. “We are already working closely with the IDA, local enterprise agencies and Local Authorities and have also begun targeting FDI companies directly through organisations such as Connect Ireland and the Ireland–Gateway to Europe initiative. Ireland has much to offer as a location for business and we, in Clyde Real Estate, are focused on making a significant contribution to Ireland’s future in this regard,” concluded Gallagher.