Firm aims to buy 400 mobile mast sites from Galway owners

A new business venture between a Galway and US company is set to approach the owners of hundreds of telecoms antennae sites in the city and county to purchase leases.

‘Black Dot Tiger’ – a partnership between the Galway-based Tiger International and BlackDot Wireless in California – is set to embark on a programme, snapping up leases from the owners of an estimated 420 mast sites in Galway.

According to the company, the owners of the sites will be approached to sell the leases at a premium.

“Existing rental values for these telco installations typically average between €5,000-€10,000 per annum depending on the population density of the surrounding area and typically run for five years and Black Dot Tiger intends to approach landowners and property owners right away to purchase these leases at a premium to their actual worth,” a company statement reads.

Tiger International’s Managing Director Chris McGrath said: “The beauty of this model is that the landowner retains the property and realises an upfront income stream straight away.

“Landlords or landowners can now convert their lease income asset from the mobile telco companies into cash through our new and unique lease purchase programme which is the first of its kind in Ireland,” said Mr McGrath.

Black Dot has already acquired a large portfolio of telecoms mast sites throughout the US and Puerto Rico and is backed by a leading US Hedge Fund, and has an initial €20m for the Irish market.