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.
