Sunday 15 September 2019

Industrial headquarters with €5m price tag

For sale: Facility being sold by Vertiv
For sale: Facility being sold by Vertiv
Donal Buckley

Donal Buckley

TECHNOLOGY company Vertiv International is selling its industrial and office HQ facility at Shannon Free Zone West, Co Clare, and agents CBRE are guiding €5m.

Developed in 1999, the property comprises a building which extends to 134,170 sq ft on about 7.3 acres. It includes two floors of largely open plan offices which, including a canteen, extend to 79,073 sq ft; a production warehouse area is 37,050 sq ft and a goods shopping area 16,953 sq ft, equipped with three dock level doors and two platformed loading doors. The latter two areas rise in clear height to 7.7 metres.

Jarlath Lynn, director of CBRE Dublin, said the price equates to about €37 per sq ft and presents an opportunity for end-users to secure a commercial industrial/manufacturing facility at a fraction of reinstatement value.

"Alternatively investors could seek to lease out the facility based on the limited options available for potential tenants," he added.

Earlier this year it was reported in local media that about 100 people were employed in the premises by Avocent, a subsidiary of Vertiv, which develops and distributes IT solutions and products for the international markets. The company expects to offer vacant possession to a purchaser from December.

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