AUCTIONEERS have slashed €1.7m from the expected price of the former Amann Factory in Tralee's Clash Industrial Estate.
The 37,500 square metre factory, which sits on a 27 hectare site and has been on the market since 2010, was previously valued at €3.9 million but auctioneers Lisney have now dropped the asking price for the extensive factory and adjoining lands to €2.2 million.
In addition to the large factory and warehouse building, the Amann complex also includes an administrative building, a substantial car park and significant undeveloped lands at the southern end of the site.
The factory has a rateable valuation of €2,898 and the entire site is zoned for general industrial usage under the current Tralee Town Plan.
German multinational Amann opened its Tralee factory in 1998 when it took over the former Kloppmann textile factory and, with the aid of the Government, invested £26 million to upgrade the entire facility. The factory manufactured high specification synthetic thread for use in the automotive, fashion and sports industries and at its height employed close to 400 people.
However, over the following 10 years, the workforce at the Clash factory was slowly reduced as Amann moved much of its production to Eastern Europe. In 2009 it was announced that the factory was to close with the loss of all jobs and all worked had ceased at the factory by mid July 2010 after which the facility was put up for sale.