One Opera Square official launch is a ‘key milestone in Limerick’s regeneration’

One Opera Square official launch is a ‘key milestone in Limerick’s regeneration’.

Monday, September 8, saw the official launch of One Opera Square, a six-storey office block in Limerick City

The official launch of Limerick’s One Opera Square on Monday, September 8 is said to have highlighted how strategic partnerships between sovereign development funds and local government can support the unlocking of Ireland’s regional economic potential, the launch of the landmark project heard.

Barry O’Sullivan, Chair of the 50:50, €80m ‘Treaty Stone Partnership’ joint venture between the Ireland Strategic Investment Fund (ISIF) and Limerick Twenty Thirty DAC, said that the €80m development, delivered on budget, demonstrates what can be achieved when local ambition is matched with the scale and strength of investment vehicles such as ISIF.

The commitment by ISIF is its biggest to date under its €500m regional city-specific investment programme launched three years ago to enhance the economic potential of Cork, Galway, Kilkenny, Limerick and Waterford and a cornerstone of ISIF’s investment strategy.

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ISIF also recently announced an additional €500m commitment to this investment programme, bringing total funding for regional cities to €1bn. For Limerick Twenty Thirty, which was established almost a decade ago to develop key strategic sites in Limerick as catalysts for economic growth, this is the completion of its first development in the transformational 3.7acre Opera Square project in Limerick city centre.  

The world-class six-storey office block in the heart of Limerick was officially launched today by Minister for Finance Paschal Donohoe and co-hosted by Mayor of Limerick John Moran and Treaty Stone Partnership in front of 250 guests.  It comprises 106,000 sq.ft of Grade A office space across five floors with capacity for 1,000 employees, three ground-floor retail/restaurant units and underground car-parking.

Mayor of Limerick John Moran said Limerick has “big ambition” to compete with European cities as “the location choice for talent and business alike”. He added that to compete, the region must “build a competitive offering” as a place to live, do business, and to invest.

He said, “Part of that is creating world-class workspaces, and One Opera Square is a brilliant model for that. It’s built to the highest global sustainability and employee wellbeing standards and is already attracting considerable market interest, to an extent that we are very confident that it will deliver the investment envisaged.”

He said the project positions “Limerick as a serious contender on the European stage”.

Minister for Finance Paschal Donohoe described the launch as a “key milestone in Limerick’s regeneration and urban transformation”.

Minister Donohoe said, “This development demonstrates how strategic ambition and close collaboration amongst all stakeholders can help unlock Ireland’s regional potential for both indigenous business and foreign direct investment (FDI).”

ISIF Director Nick Ashmore said, “One Opera Square is an example of how strategic collaboration between national and local partners can help unlock economic potential.”

Dr Pat Daly, Director General of Limerick City and County Council, said the project represents a “powerful example” of what is possible through strategic vision and collaborative investment.

He said, “This development is not just about this site—it’s a statement of the intent we all have for Limerick’s future.”

Chair of Limerick Twenty Thirty James Collins said, “This is a landmark moment on Limerick’s journey, facilitated by many and it is essential now that we continue this spirit of partnership in our other strategic projects.”

Barry O’Sullivan, Chair of Treaty Stone Partnership, said, “One Opera Square shows what is possible when a sovereign development fund like ISIF joins forces with a proactive local authority to deliver regeneration and growth.”

Mr O’Sullivan believes the project will attract foreign investment, create jobs, and says it has “set new standards in sustainability”, he said, “This type of collaboration could also unlock further opportunities in the region.”