Agent Cushman & Wakefield expect to see strong interest from a range of investors and manufacturing occupiers in the sale of a substantial industrial facility at Kilbarry Business & Technology Park in Cork.
Guiding at a price of €6 million, the subject property comprises a manufacturing facility of 9,727sq m (104,700sq ft). The building incorporates both a two-storey office block and a 1,560sq m (16,792sq ft) warehouse that previously operated as an AEO-approved facility and an onsite effluent treatment plant.
Positioned on a 4.06 hectare (10-acre site), the main manufacturing facility includes approximately 15,000sq ft of high-bay warehousing with an eves height of 13m. This area is fully racked and offers the capacity to store up to 3,000 pallets. The sale/letting of the property will also include two tower forklifts to service this section of the building. The specification also includes a manufacturing hall that is Class D/ISO8 cleanroom, six dock levellers, three surface roller doors and a secure service yard with circulation and surface-parking facilities for trailers and cars.
For sale with vacant possession, the property had up until recently been occupied in its entirety by Lynoslife (formerly Mayo-based Cosmetic Creations). The company has now made the decision to centralise all of its operations at its Claremorris facility. Prior to that, the property served as a manufacturing facility for French cosmetics company Yves Rocher, from 1981 until 2018 when it shifted production to Rieux, Brittany in the north of France.
Kilbarry Business & Technology Park is a 77-hectare (190-acre) scheme located just 3km from Cork city centre. The development has been designed to a high standard with a services infrastructure and landscaping suited to both manufacturing and international services sectors. The scheme is also located adjacent to Blackpool, the main commercial destination on the northern side of Cork, the N20 connecting Cork to Limerick, and 8km from the Dunkettle interchange, giving occupiers easy access to the M8, N25 and the wider national road network.
Commenting on the sale, Philip Horgan and Sean Healy of Cushman & Wakefield’s Cork office say: “This is an opportunity for both investors and end users to acquire a substantial facility at a time of historic low vacancy rates and robust occupier demand which has resulted in a sustained upward trajectory on rental and capital values along with downward pressure on yields.”
The property is for sale with the benefit of vacant possession at a guide price of €6 million. Alternatively, lease offers will be considered by the vendor.
