Caterpillar HQ makes €4.5m

A new headquarters building developed in west Dublin in 2010 at cost of over €30 million for the former Caterpillar dealer McCormick MacNaughton has finally been sold for close to €4.5 million.

The 9,030sq m (97,210sq ft) building stands on a six acre site at the entrance to Aerodrome Business Park in Rathcoole and is built to a particularly high standard. It features two-storey offices, a showroom extending to 345sq m (3713sq ft), three self contained industrial units, a large basement car park and a service centre to the rear.

The building was first offered for sale at €12 million in 2010 on the instructions of William O’Riordan of PwC after he was appointed receiver to McCormick MacNaughton. There were no takers, even when the price was reduced to €9 million

Brendan Smyth of DTZ Sherry Fitzgerld, appointed selling agent earlier this year, has just managed to sell the premises to Finning (Ireland) Ltd which was awarded the Caterpillar dealership when McCormick MacNaughton went into receivership. The company, with headquarters in Vancouver, Canada, also operates outlets in Cork and Belfast.