Saturday 18 November 2017

600-acre land bank on Shannon Estuary a major opportunity

Shannon Estuary is a key location for marine-based industry.
Shannon Estuary is a key location for marine-based industry.

Ronald Quinlan (Commercial Property Editor)

JLL Ireland are seeking expressions of interest for a 600-acre land bank for industrial development on the Shannon Estuary.

Currently under the ownership of Shannon Commercial Properties, the Atlantic Gateway Deep Water Zone is designated as a "key European project of common interest" for the integrated EU energy market. Just 30km from the Atlantic Ocean, it provides deep water access of up to 23 metres and is capable of accommodating bulk shipping tankers of up to 200,000 DWT (dead weight tonnage).

Approximately 450 acres of the Atlantic Gateway Deep Water Zone land bank are zoned under the Kerry County Council Development Plan 2015-2021 "for marine-related industry, compatible or complimentary industries and enterprises which require deep water access.

In addition to that designation, An Bord Pleanála has granted planning approval to Shannon LNG Ltd on approximately 250 acres of the land bank for the construction of:

An LNG (liquefied natural gas) import re-gasification terminal.

A 500 megawatts combined heat and power plant.

A 26km wayleave gas pipeline with AGI connection to the national gas grid.

All three developments have been extensively environmentally assessed and have, according to the agents, the potential to create substantial employment at the construction and operation phases, and to act as a catalyst for future industrial development and employment arising from the availability of secure gas and electricity supply in the region.

Commenting on the opportunity the Atlantic Gateway Deep Water Zone represents, Woody O'Neill of JLL Ireland said: "With access to over 500 million EU consumers and a 12.5pc Irish corporate tax rate, the development opportunity for either large scale energy generation or marine-based heavy industry is a very viable investment option."

The Shannon Estuary is home to several high profile, marine-based industries including Moneypoint and Tarbert power stations, Aughinish Alumina & Shannon Foynes Port.

Sunday Independent

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