West Cork Technology Park sale

Details have yet to emerge as to the buyer of Clonakilty’s Waterfront site, gone sale agreed to an undisclosed buyer, in trust, after a best bids and tender process via Lisney, and likely to have been bid considerably over its initial €1.2m guide.

And, now, €1.2m is once more the guide given by joint agents Lisney and Savills to another Clonakilty investment, with a €109,000 rent roll and 13 acres of zoned undeveloped land.

The joint agents are selling what they bill as an investment/development opportunity at the 29-acre West Cork Technology Park, developed by Fleming Construction, acting on instructions from receiver, George Maloney Baker Tilly Ryan Glennon.

A number of the buildings developed over the past 15 years have been sold and are in separate ownership, and the park currently is home to about 1,000 jobs with nine completed buildings.

Set just 3kms on the Cork side of Clonakilty by the rugby club, the park has attracted key IT, e-commerce, R&D and internet service centres due to very high-speed telecommunications infrastructure with 48 fibre optic lines and diversity routers for secure back-up.

Agent Edward Hanafin of Lisney says there are five buildings, or floors of buildings, being offered, with best bids sought by July 11, and tenants not affected.

They include building C, a vacant two storey office building of 12,675 sq ft, the ground floor of building D comprising 10,142 sq ft, part vacant and part let to West Cork Development Partnership, part of the ground floor and the entire first floor of Building H comprising 13,573 sq ft which is part vacant and part let to PGI. There’s also Building O, a single-storey light industrial unit of 3,160 sq ft let to Long Shot Golf, as well as a vacant office unit of 1,059 sq ft.

“The current total rental income is just over €109,000 pa and there’s potential to increase that by letting the vacant accommodation,” said Mr Hanafin.

The sale also includes 13 acres of undeveloped land, part of the original 29 acres zoned for employment uses.

Lisney and Savills are selling in one lot, guided at €1.2m via best bids by July 11.

Details: Lisney 021-4275079