Walls Construction’s turnover for 2020 was slightly less than the €290m achieved in 2019 but adjusted for Covid-19, it would comfortably exceed €300m. This means that the company has met the targets set out in its business strategy, devised following an investor-backed MBO in 2015, which targeted annual turnover in the region of €300m by the end of 2020.
The company’s principal revenue stream is managing private rented sector (PRS) projects for clients such as Park Developments, Marlet, Ardstone and Royalton/Tristan Capital Partners. Its developments under construction include Woodward Square and Clay Farm in Dublin 18; Two Oaks in Dublin 16; Grand Canal Harbour in Dublin 1; College Square in Dublin 2 and Carnlough Road in Dublin 7.
Walls has increased its activity in commercial projects, including the Cadenza building on Earlsfort Terrace for Irish Life; Glencar House in Ballsbridge, Dublin, for Killeen Properties; and further extension works to the new Central Bank of Ireland building on North Wall Quay, Dublin 1.
In 2020, Walls handed over four separate student accommodation buildings, two on Cork Street in Dublin 8, one on the North Circular Road, and the other which formed part of the Lidl Northern Quarter development in Ballymun.
Walls’ Fit-Out and Interiors Division remains extremely busy, with major projects such as the new ESB Fitzwilliam Street development and the expansion of the Central Bank’s HQ building continuing, in addition to other smaller projects, in many cases managed for repeat clients.
Employee numbers at Walls continue to grow, with over 380 people on the books. The total staff has more than doubled in the past four years.
Eugene O’Shea, Managing Director, Walls, says, “In recent years PRS has been our dominant sector and, given our expertise in this area, we see this continuing. Despite some of the uncertainty resulting from Covid-19, we have three new-build commercial office projects recently underway in Dublin. Also, we have re-energised our focus on the life-sciences and data-centre sectors, and we look forward to this activity contributing to our turnover next year and in 2023.”
No 8: Walls Construction Ltd
ADDRESS: Rosemount House, Northern Cross, Malahide Road, Dublin 17.
PHONE: 01 867 3800
LINKEDIN: Walls Construction
KEY EXECUTIVES: Eugene O’Shea, Managing Director; Willie White, Commercial Director; Frank Kelly, Construction Director; Adrian Corcoran, Construction Director; Hugh O’Brien, Financial Director.
KEY ACTIVITIES: General Building, Fit-Outs.
YEAR END: 31/12/2020