08 Sep ‘One Opera Square’ demonstrates value of strategic partnership in helping unlock regional potential
- Minister Paschal Donohoe officially launches world-class commercial development for 1,000 employees in heart of Limerick
- €80m project is funded through 50:50 JV between Ireland Strategic Investment Fund (ISIF) and Limerick Twenty Thirty, developers of Opera Square
- ISIF commitment is its biggest investment to date under its regional cities programme to unlock regional city centre potential
- Significant FDI interest already in project
Monday, 8 September 2025: The official launch of Limerick’s One Opera Square today highlights 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 ThirtyDAC, 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. 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, “We have big ambition in Limerick, to compete with other cities across Europe as the location choice for talent and business alike. To do that, we have to build a competitive offering in which to live, work and invest. 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. Limerick Twenty Thirty’s strategic vision, through developments like Gardens International and now Opera Square, is transforming our urban core and positioning Limerick as a serious contender on the European stage.”
Minister for Finance Paschal Donohoe said, “The launch of One Opera Square is a key milestone in Limerick’s regeneration and urban transformation. 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). I hope that the model that has been successfully employed here can be utilised in the other regional cities as part of ISIF’s €1bn regional cities programme towards supporting urban regeneration and by extension investment, employment and quality of life”.
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. As part of ISIF’s €1bn regional cities programme, this investment reflects our commitment to supporting growth, creating high-quality jobs, and supporting Irelands regional cities. One Opera Square will serve as a cornerstone of Limerick’s continued transformation and as a benchmark of sustainable development. It represents ISIF’s commitment to supporting long-term, sustainable economic growth while delivering the commercial returns that our mandate requires.”
Dr Pat Daly Director General of Limerick City and County Council said, “One Opera Square is a powerful example of what can be achieved when strategic vision is matched with collaborative investment. This development is not just about this site—it’s a statement of the intent we all have for Limerick’s future. It reflects our commitment to continuing to have a vibrant, sustainable and globally competitive city centre that supports jobs, innovation and quality of life.”
Chair of Limerick Twenty Thirty James Collins said, “Chair of Limerick Twenty Thirty James Collins said, “Having been a board member from the start of Limerick Twenty Thirty’s existence to being its Chair today, I’ve seen first-hand the enormous level of planning that has gone into the wider Opera project and, indeed, One Opera Square before a block was ever laid. As a result of our progressive partnership with ISIF, here we are today with this world-class facility. So, 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. Together, this has created a world-class commercial building that will provide high-value jobs, attract international investment and set new standards in sustainability. This type of collaboration could also unlock further opportunities in the region.”
About One Opera Square
One Opera Square a six-storey, high-sustainability Grade A office building within the larger Opera Square development in Limerick. It comprises approximately 12,111m² of office space, and incorporates top-tier environmental and wellness certifications. It is the first commercial building in the region to achieve LEED Platinum, WELL Platinum, and WiredScore Platinum – the highest global standards for sustainability, wellbeing and digital connectivity – and will enable occupiers to achieve their Net Zero Carbon goals by consuming up to 60% less energy than the average office building.
It is part of the iconic Opera Square development, a 3.7-acre city-centre redevelopment – one of the largest ever undertaken outside Dublin. Opera Square will ultimately include a landmark 14-storey tower, a new city library, a hotel, apartments, retail and dining units, and a world-class civic plaza. The project is being delivered with sensitivity to Limerick’s built heritage, preserving and repurposing 16 Georgian buildings alongside modern architecture.
About ISIF:
The Ireland Strategic Investment Fund (ISIF) is a Sovereign Development Fund with a mandate to invest on a commercial basis to support economic activity and employment in Ireland. The ISIF Regional Cities Programme is a €500minvestment initiative launched in 2022 by ISIF to fund projects in Ireland’s five regional cities: Cork, Galway, Limerick, Waterford, and Kilkenny. The programme aims to transform these cities by investing in new places to work, live, and for enabling infrastructure, supporting economic growth, job creation, and making them more attractive for residents and employers. It is a key part of the ISIF’s broader investment strategy, which also focuses on climate action, housing, scaling businesses, and food and agriculture. ISIF recently announced an additional €500m commitment to this investment programme, bringing total funding for regional cities to €1bn over the next 4 years.
Limerick Twenty Thirty
Limerick Twenty Thirty is a dynamic property development company which is developing key strategic sites in Limerick that will act as anchors for enterprise and development for the Mid-West region. An enabler and driver of positive change, it is advancing Limerick’s case as a vibrant, modern, and dynamic place to live, learn and grow up in. Limerick Twenty Thirty (LTT) was established by Limerick City and County Council (LCCC) in 2016. It is a 100% special purpose vehicle of LCCC.
About Treaty Stone Partnership
Treaty Stone Partnership DAC is a 50:50 joint venture between Limerick Twenty Thirty and ISIF created to develop One Opera Square.