The purchase of the former Pall manufacturing facility has generated hopes of a new jobs boost in Tipperary Town.
The idle Pall site has been sold to an established Irish company but the identity of the new owners of the site remains a mystery.
News that the site has been purchased is a welcome boost to the economy alreay buoyed by the opening of new decentalised offices and civic offices in the town earlier this month.
On Wednesday of last week it was reported that the 10.4 acre site which encompasses a manufacturing facility extending over 15,965sqm, had been sold to an established Irish company. The facility had been home to a production centre for health care company Pall Corporation since 1997 until its closure last year.
Joint selling agents BNP Paribas Real Estate and Moynihan Curran negotiated the sale of the site for what is believed to be half the original asking price of €2m. However the agents have declined to make public either the price or the name of the buyer.
Speaking to The Nationalist this week, Mr. Peter Flanagan of BNP Paribas Real Estate, who negotiated the sale of the property, explained that they were not in a position to reveal the identity of the buyer as they are subject to a confidentiality clause.
Asked if he knew when it would be made public, Mr. Flanagan responded that he knew the buyer had no intention of doing so in the short term. Further questioned as to what particular manufacturing sector the buyer belonged to, Mr. Flanagan again said that he could not say.
Mr Flanagan commented that the sale was aided by the fact that the property had a good range of existing services including a significant power supply and the building and site had been well maintained.
Kieran Moynihan of Moynihan Curran said the sale was very good news and a vote of confidence for Tipperary Town.
“It would also hopefully lead to new employment being created at this excellent facility in the short to medium term,” he added
The purchase of the facility was warmly welcomed at Tipperary Town Council’s monthly meeting on Monday night,
Expressing her delight and highlighting the fact that this was the largest industrial property to be sold in the Irish regions this year, Tpperary Town Manager Claire Curley, said that this gave a great boost of confidence to the town.
She also noted that one of the main selling points remarked on by the agents was the fact that it had been so well maintained. Ms. Curley added that they were now waiting to see who had bought the facility.
Describing the news as ‘fantastic’, Tipperary Town Mayor Ruadhri Devitt said it was a very welcome boost for the town and that he hoped that there would be jobs as a consequence.
Also welcoming this news Cllr. Denis Leahy said that the availability of natural gas in the town was possibly an aid to selling the property. He also asked if anyone knew the identity of the mystery buyer. Cllr.Leahy said there was a ‘frenzy of excitement’ in the town when news spread of the sale of the site.
“Hopefully jobs will be created at the site which would give the town the shot in the arm it badly needs. It might lead to shops that have been closed during the last two years opening up again,” he said.
“I do think the enhanced profile the town secured as a result of the opening of the decentralised offices and the new civic offices will make this town a more attractive option for investors,” he said.
Councillors Billy Bourke and Jacqui Finnan also welcomed the sale of the property.