Industrial to make around €11m

Development Site: A large industrial unit with huge development potential has come on the market in Drogheda. The unit, which sits on 4.78 hectares (11.8 acres), lies only 30 minutes from Dublin Airport.

The former Thorsman Electric Facility in Donore Road Industrial Estate, Drogheda, Co Louth is for sale by private treaty with a guide price of around €11 million. It comprises 5,776sq m (62,172sq ft), including 1,471sq m (15,834sq ft) of office accommodation sitting on a large site.

Joint agents Hamilton Osborne King and Lisney suggest that the property represents a "unique opportunity" for an investor to redevelop the site for higher value uses. This has already been done on the adjoining Donore Business Park in recent years, states HOK's Gavin Butler.

The property lies about 2kms south-west of Drogheda town centre and is adjacent to the M1. Dublin is about 50kms south and Belfast lies 128kms to the north.

The property would suit an owner-occupier looking for a good ready-to-go opportunity given its industrial/production unit with modern offices, extensive car-parking and loading facilities.

There is also an undeveloped site to the rear and this offers excellent potential for further development. The property is zoned objective EGZ "to provide for the development of business and employment generating business activity which is primarily manufacturing service oriented and retail output is ancillary to primary use", according to the Drogheda Borough Council Development Plan 2005-2011.

This zoning allows a very wide range of permitted uses, including crèche/childcare facilities, office ancillary, garden centre, motor sales or repair, transport depot and warehousing. Other uses open for consideration include bank or financial institution, cash and carry, conference centre, restaurant/café, offices, petrol station, residential ancillary, retail warehouse, local shop and wholesale warehousing.

Drogheda is a rapidly growing town within easy striking distance of the capital and the site and buildings represent a real opportunity for further development and change of use.