SALE agreed has been reached over the sale of the old site of the Veha Radiator Plant in Wicklow town, with the deal set to be finalised over the coming days.
The sale by tender of the 7.57 acre (3.064 hectare) site is being handled by Vincent Finnegan Commercial and is zoned mixed-use, residential, community, employment and retail uses and has the capacity for 450 residential units.
No guide price was provided for the land but market sources predicted it to be worth in excess of €7 million when the site first went on the market in February of this year.
Vincent Finnegan Commercial has confirmed that sale agreed has been reached, and the deal should be finalised before the end of the week.
Darragh O’Rourke, who is handling the sale for Vincent Finnegan Commercial said: “It’s a very attractive site and there was a good deal of interest. There is a lot you could do with the site. It’s a mixed-use development with the possibility of a hotel, office, space, retail and accommodation. Given the zoning of the land, it is open to a wide-range of uses and will be a big addition to the town.”
The purchaser of the site and the price involved hasn’t yet been released publicly, until the deal is completely finalised.
Cllr Gail Dunne is hopeful that the sale could provide a boost for local tourism if a hotel is located on the site.
“It would be a wonderful location for a hotel. The town doesn’t currently have a hotel and it’s something we are badly missing.
“If the greenway from Wicklow town to Greystones goes ahead, then a hotel on this site would be an even more exciting project.
“An application has also been submitted seeking €10 in Urban Regeneration and Development Fund (URDF) for the port area in Wicklow town, which will also enhance the promenade at the Murrough.
“The town is crying out for a hotel, and it would also create local employment, but anything would be better than what’s there at the moment.”
The site also includes approximately 19,443.5 m2/209,289 ft2 of warehouse and office accommodation.
The site used to be the home of Veha Radiators, who were one of the biggest employers in the area from 1966 until July of 2005, when it closed resulting in the loss of 93 jobs.
Dave Shannon, Chair of the Wicklow Town Team said: “It would be a wonderful location for a hotel with between 100 and 140 beds. Wicklow town has enormous potential, but it’s difficult for the town to reach its full potential without a hotel. It could a real game changer for the town.
“I know the site was costly and the new owners need to make a return on it to make it better for their business, but I would love to see a hotel on the site.
“I wish them all the best with their business proposition and if they would like any help or to talk to the Town Team, then they can reach us any time.”