RedevelopmentSite: A redevelopment with a mix of retail, offices and apartments is on the cards for the Meath Chronicle facility in the centre of Navan, writes Jack Fagan
The offices, shop and former printing works of the Meath Chronicle in the centre of Navan are likely to be redeveloped for a mixed-use scheme when they are sold by private treaty.
Local estate agent Raymond Potterton is quoting over €5 million for the entire site of 0.14 of a hectare (0.35 of an acre) which includes a mix of old and new buildings fronting on to Market Square and two other streets.
Because of its pivotal location, the complex should ideally be bought by the local authority for a mixture of social and civic amenities but, with the public sector forever complaining about a shortage of financial resources, it is more likely to be acquired by a developer who will demolish most of the buildings and replace them with a mixture of retail units, offices and apartments.
A buyer will inevitably get an opportunity to enlarge the site if, as expected, ACC Bank eventually offloads its modern premises on the corner of the block. The bank has apparently decided to sell a number of other branches in the coming months. At least one other adjoining retail building beside the Meath Chronicle is available for sale.
The centrepiece of the property is a listed three-storey building fronting on to Market Square which, like the other original buildings, has been poorly maintained over the years. There is access via an archway to a yard at the side which is shared by four other property owners.
The rear of the split-level site is occupied mainly by a three-storey office building with a floor area of 453sq m (4,876sq ft).
This part of the site seems likely to be redeveloped for a mixture of offices and apartments to take advantage of the uninterrupted views over the River Boyne.
While the Raymond Potterton agency would obviously prefer to sell the property in one lot, it may opt to dispose of the three-storey block facing Market Square as a separate lot. The guide price is over €1 million. The agency is quoting €4 million for the rear which includes the modern offices and the former printing works.
The Meath Chronicle has thrived since it was bought by the Celtic Media Group in 2003 for over €30 million. Its circulation has grown since then by 15 per cent to 17,250 copies per week, according to the operations director David Sheehan. The sale includes a new printing operation on a local industrial estate where the company has built up a successful contract printing business.
