Shannon Foynes Port Company developed the Limerick Docklands Framework Strategy to retain its core port operation and to transform its significant non core property holdings in Limerick Docklands into a new economic and employment hub.
The Limerick Docklands Framework Strategy is focused on growing commercial port activity at the Company’s Ted Russell Docks in Limerick and also provides for the commercial development of its 30 hectare noncore holdings along the Dock road.
The potential of ‘Limerick Docklands’ is emphasised by its location just off both the M7 Motorway at its western end and Limerick City Centre at its eastern end, with much of the development potential ideal for a number of uses such as ‘last mile logistics’ and commercial office investment.
The assets earmarked for development include disused buildings and greenfield land-banks that are surplus to the operational requirements of the thriving Limerick Docks.
The traditional docklands activity will remain the core business at the Limerick Docklands estate, which extends 2.15km along the River Shannon waterfront. However, the Framework Strategy is the first time that noncore assets will be explored for their commercial potential in a programme that will attract significant inward investment and potentially in excess of 1,000 jobs.
Currently, a total of 440 Full Time Equivalents (FTEs) are supported by Limerick Dock, generating €25.2 million in employment income among companies engaged with Shannon Foynes Port Company. The commercial activity of the Port and our customers at Limerick Docks supports €77.2 million of annual expenditure in the regional economy on non-labour goods and services.
Shannon Foynes Port estimates that the Limerick Docklands programme, which will run for the lifetime of its Vision 2041 Masterplan, could involve a minimum of €100m in development and redevelopment activity, potentially delivering 75,000sqm of new and existing buildings at its Limerick Docklands sites. The company has already had discussions with a number of potential partners on individual projects within the wider scheme with a view to enabling works commencing on initial projects as early as 2021. An
An essential enabler of the Limerick Docklands programme will be the realignment of access for heavy goods traffic to the western end of the Limerick Docks itself to allow for better freight access to the working port. In addition, this access realignment will assist in the development of non-core assets in Limerick Docklands, starting with the 3,000sqm Bannatyne Mills. The Mill, a stunning and iconic building from the early 19th century port activity, is earmarked for a multi-million euro transformation into a commercial hub that could be home to up to 430 employees.
The rehabilitation of the building, along with the nearby Ranks Silo building, and relocated access will also deliver significant public realm enhancement on the Dock Road, adding further momentum to the wider physical renaissance of Limerick city.