A partially-built office building on the outskirts of Wexford town is to be offered for sale on the instructions of receivers Duff & Phelps.
Joint agents Savills and Kehoe & Associates are guiding €850,000 for the environmentally-friendly building known as The Arc which is in shell condition and will require further investment before it can be occupied.
As it stands the building has a gross development value of €3.4 million, according to Kevin O’Reilly of Savills. The asking price equates to €38 per sq ft even before the 100-space car park is taken into account. ACC advanced loans of €4.49 million for the building which was due to have a finger print recognition system for access.
O’Reilly describes the new block as “an aesthetically pleasing building with some superb architectural features” and says it would make it an exceptional headquarters with gateway access to the southeast.
The Arc is one mile from Wexford on the R730. It within a short distance of the IDA Business Park as well as Zurich Insurance, Water Technology and Equifax.
