Price cut of 40% on Waterford factory

Joint agents Lisney and CBRE are bringing the former Cartamundi production facility in Waterford city back to market at a significantly reduced guide price of €11 million.
The Belgian board game manufacturer, maker of games including Monopoly, Scrabble and Trivial Pursuits, said it would close its Irish operation in March 2023, with the loss of more than 200 jobs. It blamed the impact of the Covid 19 pandemic for the decision.
Cartamundi subsequently put its facility on the market in September 2023, guiding €17.85 million. However, it failed to sell at this price, and the property has been re-launched to the market at a reduced guide price.
The building, in the IDA Industrial Estate on the Cork Road, extends to a total floor area of 22,914sq m (246,646sq ft) and includes ancillary office accommodation of about 1,023 sq m (11,010 sq ft). Clear internal heights in the facility are in the 4.6-11m, and loading access is provided via 19 dock levellers and multiple grade level doors to separate elevations. The facility also benefits from a secure, self-contained site of about 5.66 hectares (about 14 acres), with about three acres undeveloped. This provides potential purchasers with the opportunity to expand via a large yard to gable end, or to extend the existing warehouse section of the facility.
The surrounding environs have proven very popular among well-established healthcare and pharmaceutical companies, including Bausch & Lomb, Teva Pharmaceuticals, West Pharmaceutical and Sanofi. There are also multiple trade, storage and logistics-related occupiers including Chadwicks, Bolands, U-Store It, Store-All Logistics and Waterford Stanley based in the area.
James Kearney of Lisney Commercial Real Estate said the sale offered “a unique opportunity” for owner occupiers and investors alike to secure a substantial high-profile, fully serviced property in a market where there are very challenging supply issues.
“The facility offers parties the ability to secure a turn-key building with expansion potential at a fraction of the cost, and in a much shorter time frame, than a greenfield build. The location benefits from a superb road network and an excellent workforce catchment, with both a university and many high-profile businesses already located in the immediate area.’’
Bids are invited by 4pm on Tuesday, November 5th.