€4.75m for Naas Road land bank

A substantial industrial land bank fronting on to the N7 Naas Road at Baldonnell Business Park is expected to be of interest to a range of developers when it goes for sale today through CBRE and Savills.

The joint agents are seeking a combined price of €4.75 million for 14.77 hectares (36.5 acres) in three separate lots.

Alternatively, a price of €3.5 million is being quoted for Lot 2, which covers an area of 12.67 hectares (31.33 acres) on the southern boundary of Casement Aerodrome at Baldonnell.

Lot 3 comprises 0.93 of a hectare (2.31 acres) and is valued at €500,000, while Lot 4 extends to 1.15 hectares (2.85 acres) along the frontage of the N7 and has an asking price of €1 million.

Baldonel Business Park was originally developed in the late 1990s by SIAC and has attracted several top-rated companies including MJ Flood as well as logistics buildings, motor distribution facilities such as Seat and Saab and smaller business units.

Examinership
When SIAC Holdings came out of examinership at the end of February last, it was split into two – a property company and a construction enterprise.

The debt was transferred to the property company, allowing the restructured construction company to continue to trade.

The debtors took over control of the property company and, according to Garrett McClean of CBRE, that is the reason for the sale of the “prized assets at Baldonnell Business Park”.