July 11, 2017
Having closed the site the OEM is now selling the land and is expecting the sale to exceed €50 million ($56.9 million).
Silicon republic reported that the closure of the site cost 500 workers their jobs at the Liffey Park Technology Campus in Ireland. The site is over 195 acres and will be one of the biggest estate sales in the country according to the Irish Times.
On site there are nine buildings, manufacturing facilities and a warehouse, in total 1.46 million square feet as well as 70 acres of “undeveloped land”, although the article stated that “new owners should be aware that the sites zoning permissions” will remain in place until 2023.
Willie Norse, Executive Director, CBRE Estate Agents, commented: “It will represent one of the largest industrial and indeed overall property disposals in Ireland in recent years. This 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 significant rent roll.”
The HP inkjet cartridge manufacturing facility was said to be too costly to run last year and HP was under “financial pressure” to make cuts and reconstruct its business drive globally.
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