A commercial property firm established last year by ex RTE Dragon Sean Gallagher and Digiweb founder Colm Piercy has acquired the former headquarters of tech giant Alcatel Lucent in Dublin.
At over 300,000 sq ft and located in the IDA Business and Technology Park in Dublin 15, this represents the largest commercial property transaction in Ireland in the first quarter of 2015, according to the new firm, Clyde Real Estate.
Over the past 12 months, Clyde Real Estate has acquired around 1 million sq ft of office and commercial space around the country.
Most recently it took over the 230,000 sq ft former Braun facility in Carlow from Proctor and Gamble, which Gallagher said the company plans to develop into a dedicated corporate and technology park for the South East.
“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.”
Gallagher is best known as co-founder and former CEO of home technology company Smarthomes and is also co-founder and director of app development company The App Factory and a non-executive director of pharmaceutical engineering services firm Team Horizon.
Winner of the EY Entrepreneur of the Year Award for industry in 2012, Piercy is founder and group CEO of telecoms and managed services provider the Digiweb Group, which now includes Viatel and Smart Telecom, and is also chairman of Dataplex, a wholesale data centre business with facilities in Ireland and the UK.
Currently completing its first investment round of €25m, Clyde Real Estate is in negotiations to acquire further facilities nationwide as part of its next portfolio.
“The lack of high quality office and commercial space in many areas of the country has been identified by the National Competitiveness Council and IDA Ireland as posing a serious threat to Ireland’s ability to continue to attract foreign direct investment into these locations,” said Gallagher.