The former production facility of Cartamundi, located in Waterford city, is returning to the market with a considerably lower guide price of €11 million, jointly managed by agents Lisney and CBRE. Cartamundi, the Belgian manufacturer of popular board games like Monopoly, Scrabble, and Trivial Pursuits, declared their intention of shutting down their Irish operations by March 2023 due to the implications of the Covid 19 pandemic. Speaking to over 200 expected job losses, the company previously brought its facility to the market in September 2023 with a guide price of €17.85 million. The sale however, did not proceed, leading the property to be reintroduced at a lower price.
Situated in the IDA Industrial Estate on the Cork Road, the building sprawls across an area of 22,914 sq m (246,646 sq ft), inclusive of ancillary office space roughly measuring 1,023 sq m (11,010 sq ft). Internal heights within the facility range between 4.6-11m, and loading access is made available via 19 dock levellers and a variety of grade level doors. The property also has a secure, standalone site of approximately 5.66 hectares (14 acres), comprising of three undeveloped acres, a promising prospect for prospective purchasers keen on expansion.
The surrounding neighbourhood boasts of presence of several major healthcare and pharmaceutical corporations such as Bausch & Lomb, Teva Pharmaceuticals, West Pharmaceutical and Sanofi. A number of trade, storage and logistics-related companies also operate from the area, including Chadwicks, Bolands, U-Store It, Store-All Logistics and Waterford Stanley.
Lisney Commercial Real Estate’s James Kearney emphasized the significance of the sale as a one of a kind chance for proprietors and investors to secure a significant, fully-equipped property in a market experiencing severe supply constraints. He added that the facility offers potential buyers a ready-to-use building with ample room for expansion, located strategically with an excellent road network and a strong potential pool of employees, given the presence of a university and several notable businesses in the immediate vicinity. Offers are to be submitted by 4pm on Tuesday, November 5th.