Industrial InvestmentsThe large Coca Cola bottling plant at Naas Road in Dublin 12 has been sold for €24 million. The purchaser, whose identity is not known, was advised by agent Finnegan Menton in the off-market deal.
The well located site covers an area of 10.5 acres and works out at €2.3 million per acre. Coca Cola has said that the sale price was €14.8 million above the book value of the land.
Most of the 185 jobs at Coca Cola's Naas Road operation are expected to disappear when the company invests €80 million in a new production plant at Knockmore Hill outside Lisburn in Co Antrim. About 90 jobs at Greenore, Co Louth, are also under threat.
When the closure was announced, a SIPTU official claimed that cheaper labour costs in Northern Ireland were a factor.
At the same time managing director Alfie Lydon said that the decision would give the company "essential new capacity to respond more rapidly to changing consumer needs in a highly competitive trading environment".
