Liffey Park Technology Campus
A unique and rare occupier / investor opportunity to acquire one of the largest and best serviced, world class, high tech facilities in Ireland
DUBLIN, 11 July 2017 – CBRE are now offering a unique opportunity to acquire a world class technology and manufacturing complex at Liffey Park, Leixlip, Co Kildare, on the outskirts of Dublin, Ireland. The complex was developed from the mid 1990’s onwards and has been home to a high tech production operation in the intervening years. The campus will continue to house a number of occupiers over the short to medium term, in approximately one third of the accommodation.
The extensive campus is split into 9 main buildings of which 6 are dedicated to high quality manufacturing, clean room, warehouse and office use with the remaining buildings used for ancillary and backup uses such as energy centres and canteen. The overall facility, which extends to a Gross Floor Area of approx. 136,000 sq m (1.46 million sq ft), is located on a highly serviced site of approx. 79 Ha (195 acres). The generous site configuration allows for an estimated 28 ha (70 acres) of undeveloped land which offers potential for additional development of buildings (subject to planning permission). The lands are predominately zoned Objective H “Industrial and Warehousing” under the Kildare Development Plan 2011 – 2017. Zoning is anticipated to remain in situ under the Kildare Development Plan 2017 – 2023 (currently under review).
The site occupies a highly accessible location, accessed directly off the M4 motorway which links Dublin to Galway and the west of Ireland. Dublin city centre is located 21km to the east, Dublin Port is 33km to the east and Dublin Airport is located 27km to the north-east. Nearby occupiers include Intel Ireland, who occupy a 145 ha (360 acre) site in Collinstown Industrial Park, Leixlip (just 3km from Liffey Park). Intel are currently planning for a major expansion at their site which could see the workforce grow to 2,850 over the next 3 years. Grange Castle Business Park which is located approx. 10km from Liffey Park includes manufacturing occupiers such as Aryzta, Grifols, Pfizer and Takeda, while the area is also home to data centre occupiers Interxion, Microsoft and Google.
CBRE expect interest from a variety of occupiers and investors given the scale, quality and flexibility of the site. The exceptional services to the campus include a very considerable existing 16 MVA electrical supply serving an onsite 110kV sub-station, which will no doubt also be of significant interest to certain industries such as data centres. Dublin has rapidly become a major data centre market in Europe, for both hyper-scale, self-build operators and also colocation entities. Based on CBRE’s analysis, Dublin was the third best performing data centre market in Europe in 2016 and this growth looks set to continue.
The site also benefits from extensive Class 10,000 cleanrooms of approx. 11,150 sq m (120,000 sq ft) located within Building 7 of the campus.
There is currently over €3.6 million of gross rent being generated on short to medium term leases of approx. 35% of the building area. This creates tremendous potential and scope to increase the rent roll going forward from leasing of currently vacant accommodation.
This is a unique opportunity to acquire an exceptional manufacturing campus with significant existing buildings and major infrastructure in place. It will represent one of the largest industrial and indeed overall property disposals in Ireland in recent years. This premier high tech manufacturing complex represents an economic opportunity for large scale end-users to secure a commercial industrial/manufacturing facility at a fraction of reinstatement value, or alternatively for investors who would seek to lease out the entire campus, thereby generating a very significant rent roll. Given that Ireland is the fastest growing economy in Europe and a gateway to European and global markets, we expect this opportunity to have very strong appeal to both global investors and end users.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 135 employees, we work with occupiers, investors and developers of office, industrial and logistic, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie