Coca-Cola site in Drogheda fails to fizz after selling below guide

An extensive former Coca-Cola commercial site in Drogheda has sold for well short of the asking price. Agents GVA Donal O Buachalla had been seeking €4.35 million for the 11.7 hectares (29 acres) at Donore Road but after a lengthy selling campaign had to settle for just under €3 million.

Coca-Cola operated a manufacturing facility on the land for many years and cleared it of all buildings before putting it on the market. The company relocated to the Southgate shopping centre in the town where it employs over 200 people in its Global Business Services Hub.

It provides financial and other services to Coca-Cola marketing operations in Europe and Eurasia.

The limited appeal of the site stemmed in part from the fact that it is designated as an "employment generating zone" in the Drogheda Borough Council Development Plan 2011-2017.