Pharma test lab and office HQ at Xerox Technology Park for €4.5m

Former Teva Pharmaceuticals R&D facility in Dundalk has scope for expansion

The former test lab facility of Teva Pharmaceuticals in Dundalk has been brought to the market by agent JLL at a guide price of €4.5 million.

Located on a site of 4.5 acres, Unit B at Xerox Technology Park is a state-of-the-art R&D and office headquarter premises of 55,000sq ft. The property is being offered for sale in walk-in condition due to an investment of about €20 million in 2008 by its current owners. Since then it has been maintained to a high standard as has the business park itself.

Woody O’Neill, who is handling the sale on behalf of JLL describes the property as a “rare opportunity for owner-occupiers or investors to acquire a turn-key building in the strategic northeastern corridor between Dublin and Belfast”. The property comes to the market with the benefit of approximately two surplus acres which will allow for further expansion, subject to planning permission.

The immediate area is host to a number of household name employers including PayPal, Xerox and National Pen. Wuxi Biologics has recently announced a €325 million investment on the adjoining IDA Mullagharlin Business Park lands.

Ronald Quinlan

Ronald Quinlan

Ronald Quinlan is Acting Property Editor of The Irish Times