Acquisition and Sale of Land for Galco Steel
Acquisition of approx 9 hectares for €10 million for industrial land and disposal of approx 7 hectares for excess €25 million on behalf of Galco Steel.
The client is a steel fabricator located in Ballymount, Dublin 22. Savills was instructed to acquire a suitable site for the relocation of the company and on completion of the acquisition, was instructed to dispose of the company’s 7 hectares of land in Ballymount.
Galco Steel Limited
We identified an off market land holding however, the site was double the size required by our client. We then agreed and concluded a deal with a developer to take a 50% stake in this site. On closing, we then marketed our client’s existing land holding in Ballymount for sale by tender, for which a record price per hectare was achieved.
How we added value
Savills achieved excellent value for money on behalf of our client in the acquisition of an alternative production site and achieved a significant premium for their existing land holding in Ballymount.
Savills Dublin Commercial
+353 (0) 1 618 1340