Two institutions have made a £20 million offer for a 50 per cent stake in Swords Business Campus, in north Dublin. The pension fund, IPFPUT, and Canada Life, are understood to have made the offer to businessmen Tony Tyrrell and John Flynn for a half share in the £40 million complex. The promoters have secured planning permission to redevelop a 230,000 sq ft building on the site. Mr Tyrrell and Mr Flynn originally paid £11.5 million for the former Motorola complex, which stands on over 10 acres on the edge of Swords village. The institutions are believed to have offered to forward fund the redevelopment of the office complex to add a mezzanine level and allow it to be divided into eight individual units. There is also considerable scope for other commercial buildings on the site.