Wednesday 20 September 2017

Millennium Park guiding €35m

The Millennium Park has been put on the market for €35m
The Millennium Park has been put on the market for €35m
Peter Flanagan

Peter Flanagan

CBRE has been retained to seek a buyer for the Millennium Park (above) in Co Kildare, with an asking price of some €35m.

The park, which was developed by Gerry Conlan, is being offered by private treaty.

The park comprises approximately 135 hectares of land, with another 12 hectares developed to date and a further 123 hectares available for development.

The land bank adjacent to the M7 comprises approximately 41.7 hectares of agricultural lands which offers an excellent opportunity for future development subject to obtaining a rezoning of the lands. The balance of the lands south of the M7, approximately 93.11 hectares, consists of a mix of zonings which include; enterprise and employment zoned lands, community and education zoned lands, an urban village, and new residential zoned lands.

The park outside Naas in Co Kildare was opened back in 2000. Mr Conlan's loans however ended up being sold off by Nama as part of the "Project Spring" portfolio.

According to CBRE, Millennium Park offers interested parties "an asset management role within the existing 14,353 sq m (154,537 sq ft) of office accommodation which generates an annual income of approximately €1.6m while the adjoining lands offers potential to accommodate further commercial and residential development.".

A number of bidders are expected for the property.

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