A turning tide of development and infrastructure investment, such as the new €200 million N28 Cork Ringaskiddy Road, and €100 million port facility enlargement, may bring a new focus, and a major tenant or two to the Ringport Business Park.
Ringport, on almost 15 acres and with more than 210,000 sq ft of high-eaves buildings, was developed by Fleming Construction’s Fusion Building Systems for manufacture of prefabricated housing. Set in Cork’s Ringaskiddy, it sold two years ago for between €2.5 million and €3m, with both local and FDI inquiries.
The major facility at Ringaskiddy, with three principal structures, was sold by receivers to Wiser Recycling, at a figure of less than €14 per square foot.
The waste recycling company run by the O’Brien family, which employs 70 with a fleet of 20 trucks, was unsuccessful in its plans to develop the facility, but, its multi-million euro purchase via JLS and Downing Commercial may prove fortuitous.
Plans to invest up to €200 million in the upgrade rerouting of the N28 to Ringaskiddy got a major boost this week with confirmation it is in line for Government finance as part of the National Capital Expenditure six-year plan: the proposed new route will pass close to this 14/15 acre site.
Now branded as the Ringport Business Park, the complex of three building and land, as well as 16 three-bed apartments, is near the Port of Cork’s landbank, for which major redevelopment proposals are ongoing, to facilitate a move down river of port activity from the city quays.
Letting agent for Ringport Business Park is David McCarthy of Lisney, who describes it as “a secure office and industrial/warehousing complex, on a large 15 acre site on the eastern side of Ringaskiddy village.”
He expects interest from large food companies, as well as from other port users with space needs, and he’s offering industrial/warehouse space in sizes from 7,000 sq ft, right up to 210,000 sq ft. There’s also 20,000 sq ft of offices.
Included in the letting mix are 16 three-bed apartments; they were previously occupied by (mainly eastern European) employees of Fleming Construction’s Fusion Building Systems wing.
The facility was used to produce system-built apartment panels and pods, for the Irish and UK markets. The specialist plant has since been exported to the UK.
It’s hoped to find one, or just several, large new users for the considerable amount of space, and rental levels aren’t quoted, but will start at about €4 psf, it’s understood.
Location is 16kms from Cork city, and neighbouring occupiers including Pfizer, Novartis, DePuy, Johnson & Johnson, Glaxo Smithkline and the National Maritime College of Ireland.
Further growth of that college, and related academic research centres, may provide tenants for some of the 16 apartments.
“We expect good interest in the complex given the fact that there is limited high quality industrial/warehouse accommodation of this scale available in the market currently,” said David McCarthy of Lisney, adding “the extensive redevelopment of the Port located closeby will further enhance the appeal of the location”.
Details: Lisney, 021-4275079
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