Swiss pharma giant Roche is putting its former manufacturing site in Clarecastle up for sale with an expected €4m pricetag.
Roche’s Clarecastle facility was established in 1974 as Syntex Ireland and became Roche’s pharmaceutical manufacturing facility in Ireland when the Roche Group acquired the site in 1994. Following a decision in 2015 to exit the Clarecastle facility, final production was undertaken in November 2019, and pharmaceutical operations ceased in March 2020. A buyer for the facility could not be secured at the time, and Roche set about decommissioning the site.
Accounts published last year by Roche show the bill for the remediation of the site has already reached more than €150m.
Cushman & Wakefield has been appointed by Roche Ireland Limited to bring the 88-acre site to the market and manage the sale. The estate agents said the site is zoned for mixed use, with a clear objective of identifying an investor capable of delivering sustainable employment and long-term economic benefit to the region.
“The site is one of the most compelling industrial opportunities currently available in the west of Ireland,” they said.
“It offers scale, zoning certainty, and the potential to create a high-quality, future-proof campus environment. It will be made available on a phased basis, with an initial tranche of approximately 20 hectares [45 acres] expected to be available by late 2027.”
Cushman & Wakefield said they would lead a targeted national and international campaign to attract investors, across key growth sectors, seeking a strategic location for expansion.
The site is expected to attract strong interest from international investors seeking access to Ireland’s established multi-sectoral ecosystem, highly-skilled workforce, and supportive business environment.
Commenting on the site’s potential, Patricia Staunton, Cushman & Wakefield said: “This is a unique opportunity to reposition a strategically located site with significant scale and infrastructure, capable of accommodating high-value enterprise.
“We are working closely with Roche to ensure that the marketing process delivers not only a successful transaction, but also a meaningful long-term impact in terms of employment, investment, and regional development.”