A NEWLY built office block that had been expected to provide employment in Navan for more than 700 workers is to be sold at a knockdown price by the troubled Quinn Insurance Group.
Estate agents CB Richard Ellis is to seek €8.5 million for the high-quality standalone building which is thought to have cost well in excess of €20 million to complete and fit out.
Quinn had planned to use the 7,710sq m (82,989sq ft) building as a call centre for its insurance business and though much of the furniture and fittings were installed and the first employees engaged, the venture was doomed once the Quinn Insurance company was put into administration. Alan Moran of the selling agents believes the most likely purchaser for the empty building will be an overseas company looking for a turnkey facility to accommodate a new call centre. The office block is particularly well located, high above the river Boyne and within a few hundred yards of the newly opened N3 which has reduced travelling time to Dublin to about 30 minutes.
The offices are within a few minutes’ walk of Johnstown village centre which is anchored by a highly successful Super Valu store and includes restaurants and a gymnasium.
The block stands on a site of 3.24 hectares (8 acres) in the IDA Business and Technology Park, where the other occupiers include a section of the Department of Justice and Law Reform, Europe Assistance, Generali and Welch Allyn.
The Quinn block has as impressive double height entrance hall with lifts and reception area.
The fitout is also to the highest of specifications including chilled beam air conditioning, CAT 6 cabling, fully equipped kitchen and canteen and a mixture of open plan offices and meeting rooms to accommodate a staff of 714. Outside, there are 539 car-parking spaces. CB Richard Ellis say that if a buyer is not found they will consider leasing the building at a rent of €140 per sq m (€13 per sq ft).
