Limerick loses out as homegrown company sells its O'Connell Street base

Teckro set up its Limerick headquarters in the city in 2015.

Teckro, a company specialising in life science technology, has put its flagship Limerick building up for sale.

The company was originally founded and headquartered in Limerick city, with offices in Dublin and in the US.

A source close to the company confirmed that due to a change in work practices and the headquarters of the company now being based in Dublin, there was no need for a physical presence in Limerick.

The building itself dates back to 1829, and was known as the popular Bank Bar and nightclub until it was bought by Teckro and transformed into a funky office hub.

The company was established in 2015 by brothers Gary and Nigel Hughes from Sixmilebridge, alongside Jacek Skrzypiec, following the successful multi-million euro sale of their previous venture, Firecrest, to industry titan ICON plc.

The trio wanted their enterprise to be based in the heart of Limerick's retail and commercial core and said the establishment of the office in Limerick was a show of their belief in the potential of the city centre.

They chose Limerick as their headquarters because they believed in a resurgent city that could nurture ideas and growth.

A specialist interior design team was hired and turned the bank into a cool office space designed to spark creativity and collaboration.

The building featured conferencing facilities, a barista coffee machine and a phone box for private calls.

The former nightclub upstairs was remodelled as an office space with the inclusion of a cinema screening room and a table tennis table.

At its peak, the O’Connell Street office drew specialists directly into the city centre.

While no jobs have been lost, it has had a major impact on city centre presence as it employed numerous people on the ground in the city.

The ambitious plans of a home-grown tech giant carrying out its operations from O'Connell Street have given way to the realities of the hybrid work era, costing Limerick city centre one of its most innovative and culturally significant corporate anchors.

It's understood that the company may invest in a smaller office space in Limerick in the future.

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