NPP Group Acquires Unit 2 Vantage Business Park for in excess of €8.85 Million
NPP Group has contracted to purchase the first building in the new Vantage Business Park, a strategically located development in a high-profile position fronting the N2, just off Dublin’s M50 Motorway (Junction 5). It is located in the Dublin Enterprise Zone (DEZ).
The new, state of the art, high bay industrial / warehouse and office facility will extend to 59,014 sq. ft. on a site of 3.5 acres and is scheduled for completion in December 2019. It will benefit from a clear internal height of 12 m. (39 ft.) together with dock level and grade loading access.
David Duffy, Managing Director of NPP Group comments:
“We are delighted to acquire our new HQ facility in Vantage Business Park that will be prominently located and easily accessible. Our company’s success is underpinned by the formulation and execution of solid strategic plans and the commitment of a loyal and growing capable staff. Over the past 2 years, our pace of growth has accelerated and we have completed 3 acquisitions. The most recent is Asgaard Packaging Ltd which is a flexible packaging supplier that specialises in the meat, fish and dairy markets.”
Vantage Business Park is being developed by the Erigo Group, a new industrial & logistics property development vehicle from the Flood family.
“We are delighted to agree terms with NPP Group. We look forward to delivering a superior quality HQ facility for it and the position of Vantage Business Park speaks for itself. At a time when many other developers are opting to lease buildings to end users only, we are offering buildings to owner occupiers at competitive prices. Naturally, we will also lease buildings to suitable tenants.”added Laurence Flood, Director of Erigo Group.
The sale of Unit 2 was handled by HARVEY, Industrial Property Specialists, which is the Sole Agent for the development. It is now engaging with interested parties regarding Unit 1 (45,896 sq. ft.) which has Full Planning Permission and in respect of the Phase 2 lands which extend to approximately 23 acres. Unit 1 can be delivered in a timeframe of approximately 12 months with any sale handled via separate land sale and building contracts, thereby offering significant stamp duty savings. The asking price for Unit 1 is €150 per sq. ft. and quoting annual rent is €9.50 per sq. ft. (exclusive).
About NPP Group
NPP, now 35 years in business, is a dynamic “Source and Supply Hub”, designed to satisfy the industrial flexible packaging requirements and high service expectations of Irish Industry. It has evolved as the market leader, supplying the food, drinks, pharmaceutical and agri-business sectors with an almost limitless range of bespoke packaging materials.
Following an MBO in 2008, the company has more than doubled in size, both in terms of turnover and numbers employed. Sustained success has come from a combination of organic growth in traditional product / market areas, and from a total of 9 acquisitions. While these have been individually small, they have contributed in terms of broader product range, new markets, and recruitment of commercial experience from the owner-managers who have remained with the business.
Today, the business trades as “NPP Group” for flexible packaging and “COMBIND” for a broad range of other materials – specialist tapes, strapping, fastening suppliers, tools, equipment, and machinery etc.For further information, contact:
Philip Harvey, HARVEY t: +353 1 4532755