The former warehouse and offices of the ACB Group at Ranrenagh in Ballyjamesduff, Co Cavan have been sold for just under €1.27 million. The price paid represents a premium of 30 per cent on the €975,000 which had been guided by agent Colliers when it brought the property to the market on behalf of the company’s liquidator, Grant Thornton, in April of this year.

Located on a standalone and enclosed site just off the N3 Dublin to Cavan Road, approximately 14km south of Cavan town centre and 15km north of Virginia, the property comprises a large, modern detached industrial unit of steel-portal frame construction extending to 18,234 sq ft with separate detached modern offices extending to 1,980sq ft.

Finished to a high specification, the property was purpose-built in 2019 for the headquarters of the ACB Group, which had engaged in projects involving data centres, logistics warehouses, motorway service stations and holiday villages.

Commenting on the sale, Stephen Conway of Colliers said: “The property generated significant interest and the strong price achieved illustrates the acute shortage of good-quality industrial accommodation at all almost all levels, but particularly in regional locations. Interest was predominantly from owner occupiers with pressing requirements for industrial accommodation, but we also saw engagement from a number of opportunistic investors looking to gain exposure to the industrial and logistics sector.”