Ericsson’s research and development campus in Garrycastle, Athlone went on the market yesterday (Wednesday), and is expected to sell for in excess of E19million.
The complex is rented at almost E1.8million by parent company Telefon AB LM Ericsson, and occupies a site of 15.23 acres. Offers in excess of E19 million are being invited by Ross Fogarty of commercial property estate agents Knight Frank.
The facility has been held as an investment for 15 years by Dublin-based property developer Gerry Gannon. Ericsson’s 25-year lease has more than 10 years left to run.
Ericsson first established a production facility in Athlone in 1974, which was converted to a research and development facility in 1990.