Council Welcomes Investment at Former Braun Site

braunClyde Real Estate, a new commercial property firm, headed by entrepreneur and former presidential candidate Sean Gallagher, has announced that it has purchased the former Braun site in Carlow from multinational consumer goods company, Procter & Gamble.The announcement was made on Monday 29th of June, following weeks of speculation on who bought the iconic site.

Gallagher says that Clyde Real Estate will develop the 30-acre site into a dedicated corporate and Technology Park for the South East.

After negotiations and completing the investment of round of €25m it has been described as one of Ireland’s largest commercial property transactions in 2015. The company is in negotiations to acquire further facilities across the country.

“Clyde Real Estate is a business-led property venture that has been founded by experienced business builders,” said Gallagher. “Each of us has grown our own technology companies and we feel uniquely placed to understand the flexible and high specification accommodation needs of modern business,” he added.

Explaining the company’s approach, Gallagher went on to say that, “The lack of high quality office and commercial space in many areas of the country has been identified by the National Competitiveness Council and the IDA as posing a serious threat to Ireland’s ability to continue to attract foreign direct investment into these locations. In developing Clyde Real Estate, we are acutely aware that providing strategically well located facilities is key to being able to sustain Irelands’ economic growth,” added Gallagher.

Gallagher is no stranger to the Local Enterprise Office in Carlow, back in April; he was the guest speaker at the successful Connector Business Networking Event for local entrepreneurs organized by the Local Enterprise Office.

Kieran Comerford, Head of Enterprise at the Local Enterprise Office Carlow, said the investment is a welcome addition to Carlow; he continued to say “The investment is a huge boost not just for Carlow town, but also for the South East. The Braun site offers potential and the development of the Corporate and Technology Park will sure to maximize job creation for Carlow County. We wish Sean every success in his new business venture”

The Braun factory closed in 2009. At one stage, it was the biggest employer in Carlow with 1,400 workers. The Braun site has warehouse, office and manufacturing space of over 230,000 sq. ft.