Negotiations Over Arklow Qualceram Property

Wicklow News

News Archives

/ News /

Printable Version

Email this Story

Negotiations Over Arklow Qualceram Property

Friday, July 6 2007

Management from Arklow bathroom products manufacturer Qualceram Shires are still negotiating with several interested parties about the sale of its landmark waterfront property in Arklow.

Tenders for the 13-acre property, which commercial property experts say could fetch up to €4 million an acre, closed on June 7th. A company spokesman confirmed this week that an acceptable offer had not been reached at the close of the tender period and negotiations were still ongoing.

The South Quay site, bound by the Avoca River; Arklow Harbour and the Arklow Golf Links, is zoned ‘waterfront development zone’, which allows for a variety of uses including a hotel, residential, retail and offices.
The successful bidder is likely to want to build a large, mixed-use development, probably several stories high, given that tall buildings are encouraged beside the river.

Sellings agents Savills HOK did not attach a price tag to the prime site, but it is believed Qualceram are looking for at least €40 million for the site. When it is sold, the company will move their manufacturing operations to a yet-to-be-built facility on an undisclosed locations in Arklow.

The company is looking to generate financial efficiencies in a new facility, compared with the multi-building operation presently at South Quay. Markets reacted well to news of the intended sale, with Qualceram shares rising 2.5 per cent to €2.05.

Chief Executive John O’Loughlin told the company’s recent annual general meeting that he also predicted a surge in building industry now the stamp duty issue for first-time buyers has been settled.

Printable Version

Email this Story