Wednesday 13 December 2017

Development site in Navan for €600k

The site is located next to the successful Navan Retail Park
The site is located next to the successful Navan Retail Park
Ronald Quinlan

Ronald Quinlan

A 6.67 acre development site located next to the hugely successful Navan Retail Park is being offered for sale by joint agents Bannon and Raymond Potterton with a guide price of €600,000.

The site has extensive frontage on to the N51 and is located less than 2km from the M3 Motorway, the main route that connects Navan town, Co. Meath, to Dublin City Centre.

Zoned 'Retail Warehouse Park' under the terms of the Navan Development Plan 2009-2015, which has been extended to run alongside the Meath Development Plan 2012-2019, the lands may offer the prospective purchaser the opportunity to develop uses that are complementary to the adjoining retail park, which is currently occupied by Smyths, Homebase, Halfords, Petmania, DID Electrical and TK Maxx. Leading furniture retailer EZ Living is due to commence trading there this summer.

The potential of the site now being offered for sale is evidenced by the fact that Navan Retail Park itself was acquired for €11.5m just two years ago by Target Investment Opportunities plc, the investment fund controlled by the Los Angeles-based Oaktree Capital.

Leanne Kane of Bannon says: "With Navan being the retail hub and largest urban centre of Meath and with its population having increased by 7pc to 28,399 in the 2016 Census, the site represents a good retail development opportunity."

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