Hewlett Packard site in Leixlip
The Cork developer, Michael O'Flynn is the preferred bidder to buy the 195 acres Liffey Park Technology campus in Leixlip, according to a newspaper report.
The Sunday Business Post (April 1) reported to Mr O'Flynn is being backed by a global fund manager, Black-Rock Real Estate to buy the campus from the US computer giant, HP.
Estate agent, CBRE, was said to be looking for €50 million for the campus which has a nine main buildings.
The newspaper article by Tom Lyns said that Mr O'Flynn develops both houses and commercial property but that his plans for the site are “unknown.”
It said however that his choice of partners indicates that he is planning to keep the site in commercial use.
The site has a gross floor area of about 1.46 million square feet and includes 70 acres of undeveloped land.
The report said that Mr O'Flynn faced “significant competition” from rivals for the site and quoted CRRE director, Willie Norse, as saying that the sale “was one of the largest industrial and indeed overall property disposals in Ireland in recent years.”
Mr Norse was quoted as saying that the site was “an economic opportunity for large scale end users to secure a commercial industrial/manufacturing facility at a fraction of the reinstatement value or alternatively for investors who would seek to lease out the entire campus, thereby generating a significant rent roll.”
In February 2017, HP said that inkjet print done by HP Inc would be transferred to the United States and Asia, and announced 500 job cuts on February 8.
At the time long time staff at the Leixlip plant were shocked at the extent of the cuts.
HP Inc said then it planned to sell the Leixlip site including its current sub-leases, and it was suggested that could take place around February 2018.