Ericsson campus on the market

Ericsson’s research and development campus in Garrycastle, Athlone went on the market yesterday (Wednesday ), and is expected to sell for in excess of €19 million.

The complex is rented at almost €1.8 million by parent company Telefon AB LM Ericsson, and occupies a site of 15.23 acres.

Offers in excess of €19 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.


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