US firm snaps up Tougher Business Park for €17m

US-based York Investment Corporation has won a bidding war to buy Tougher Business Park near Naas for more than €17m – €3m more than the guide price.

The sprawling 125-acre business park, sold on the instructions of the National Asset Management Agency and the former Bank of Scotland Ireland.

The property includes 56 buildings dating from the 1990s and early 2000s with an overall floor area of 70,000sq m (753,446sq ft).

About €1.12 million of the overall rent €1.8 million comes from global transport and logistics company DSV, which occupies almost 34,374sq m (370,000sq ft) of industrial buildings.

The company recently rented a further 18,115sq m (195,000sq ft) to facilitate the growth of its business.

Other high-profile tenants in Toughers include KildareNow breaking news website, The Kildare Post as well as Lidl, Domino’s Pizza, an NCT centre and the HSE.

A section of the park not included in the sale has a 23,224sq m (250,000sq ft) Primark warehouse and buildings occupied by Nationwide Tiles and a BMW showroom operated by Conlan Motors.

With 27 acres of industrially zoned land available, 26 acres of forestry and 24 acres of unzoned land, York will have a range of options open to them, including the one to sell off plots to companies prepared to build their own premises.

The zoned land alone can accommodate about 46,500 sq m (500,000 sq ft) of industrial buildings.

The sale also includes a farmhouse and adjoining park which extends to 48 acres, some of it with excellent road frontage.