Tuesday 21 August 2018

Former Koverto Envelopes plant 'competitively' priced at €1.85m

An aerial view of the former Koverto facility at Purcellsinch IDA Business Park in Kilkenny, situated 15 minutes from the city centre and close to the M9
An aerial view of the former Koverto facility at Purcellsinch IDA Business Park in Kilkenny, situated 15 minutes from the city centre and close to the M9
Ronald Quinlan

Ronald Quinlan

Joint selling agents CBRE and Purcell Properties are guiding a price of €1.85m for the former Koverto Envelopes facility at Purcellsinch IDA Business Park in Kilkenny.

Built in 2004, the property is a modern industrial premises.

The property extends to approximately 4,000 sq m (43,000 sq ft) and is situated on a site of approximately 2.25 acres.

The facility, which was crowned the winner of the 2007 LAMA awards for 'Best Commercial Building', is located five minutes from Kilkenny city centre.

It's also 15 minutes from the M9 motorway Junction 8 and 70 minutes from the M50 motorway/N7 Junction 9.

The property comprises 715 sq m of office accommodation and a large structural mezzanine extending to 982 sq m.

The high-bay warehouse element extends to 2,627 sq m and has a clear internal height of 9m.

It also has the benefit of a 300KVa existing power capacity.

CBRE and Purcell Properties believe the property's guide price of €1.85m is competitive, equating as it does to approximately €463 per sq m (€43 per sq ft) exclusive.

To put that figure in perspective, the unit in question was constructed 14 years ago at a cost of €200 per sq ft.

The former Koverto facility, which has beeen brought to the market on the instruction of receivers, Smith & Williamson, is understood to have attracted significant interest already from both indigenous and foreign owner occupiers and investors.

Joint selling agents David Scully (CBRE) and Conor Purcell (Purcell Properties) say: "The property would make an ideal HQ facility for a large indigenous or multinational company who are looking to purchase a flagship HQ at a very competitive level."

Sunday Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business