Aircraft leasing firm to create 300 jobs at Limerick's Gardens International site

Nick Rabbitts

Reporter:

Nick Rabbitts

NAC is unlikely to move into the site until later this year, as Limerick Twenty Thirty put the finishing touches to Gardens International, seen here as an architect's impression

The company is unlikely to move into the site until later this year, as Limerick Twenty Thirty put the finishing touches to Gardens International, seen here as an architect's impression

THE first tenant in the €18m Gardens International office development in Limerick is to be Danish firm Nordic Aviation Capital (NAC) in a move which could see 300 new jobs.

The world’s largest regional aircraft leasing company is to take the third, fourth and fifth floor of the Henry Street development, in doing so, ramping its workforce up to an estimated 350 roles, the Limerick Leader has established.

The move signals a massive confidence boost to the redevelopment, which is a key plank of the €500m Limerick Twenty Thirty programme.

It’s understood management at NAC, which already employs ​60 people in a smaller office at Henry Street, is to sign the agreement to lease the upper floors of the building in the coming weeks.

”They are taking half the building, which is great news,” a well-placed source told the Limerick Leader.

NAC which provides leasing and lease management services to airlines and aircraft investors worldwide, has been interested in expanding into Gardens International for a long period of time, signalling its intent to the Limerick Twenty Thirty programme when the redevelopment of the site got under way,

Headquartered in Billund, Denmark, better known as the home of Legoland, NAC also has offices in Canada, the US and Singapore.

It has 400 aircraft, valued at over $5.3bn.

NAC is unlikely to move into the site until later this year, as Limerick Twenty Thirty put the finishing touches to Gardens International.

“The council were building out Gardens International to a shell-and-core standard. That is due to be finished this summer.

With Nordic coming on board, a fit-out will be engaged for them,” the source, who did not wish to be identified, added.

The Gardens International development – formerly known as Hanging Gardens – is being completed to Leed gold standard.

This means the rent NAC will pay will be significantly higher than competing office facilities in the city. The overall development is to provide office space for up to 750 people.