Over €20 million for 15.8-acre site in Naas

Redevelopment SiteA high profile redevelopment site off the N7 at the entrance to Naas, Co Kildare, is to be offered for sale by tender on June 7th.

Savills HOK is guiding over €20 million for the 6.41 hectares (15.8 acres) owned by Magna Donnellys Electronics.

The Canadian owners, manufacturers of mirrors for the automotive industry, plan to close their factory on the site later this year with a loss of 270 jobs. The company has been in Kildare since 1969.

The site has frontage of 260 metres onto the main Dublin road and, though it currently has an industrial zoning, it has obvious potential for higher value uses, such as offices, retail and residential. The Magna buildings - the largest extending to 8,709sq m (93,743sq ft) - cover considerably less than half the site.

Savills HOK says that the potential for the land is underlined by other recent developments in the immediate area, including the Globe Retail Park anchored by Woodies, and the building of the Storm five-screen multiplex cinema and The Maudlins Hotel.

The former GAA park, also close by, was recently acquired by Superquinn for a food outlet.

Naas is one of the most vibrant towns in the Dublin region and has experienced rapid growth in recent years. The upgrading of the N7 to three lanes between Naas and the Red Cow roundabout on the M50 has greatly improved access.

Naas is also served by 21 trains daily in either direction to and from Heuston Station. Naas - along with Newbridge and Kilcullen - have been designated as a primary growth centre in the National Spatial Strategy.

The population of the town is expected to double over the next decade.

The upgrading of commuter facilities is expected to lead to the rezoning of more land around the town for additional housing.

Meanwhile, development work has begun on a new shopping centre at Corban's Lane, off Main Street. The €45 million scheme will have over 23,000sq m (247,570sq ft) of shopping and parking for 750 cars.