Prominent Mayo industrial site is to be sold at a healthy profit

Castlebar councillors have approved the sale of a section of the former Volex site and the sale price represents a healthy return on Mayo County Council's original investment.

The Breaffy Road property is being sold to Ballinrobe-based company Dextex Limited for a sum of €1.27 million. The local authority had purchased the premises for approximately €700,000.

However, the sale of the premises had to be first approved by local councillors. It is being sold in accordance with Section 183 of the Local Government Act, 2001, which means the disposal of the property, comprising of approximately 60,000 square feet, must be approved by elected members of Castlebar Municipal District and Mayo County Council.

A separate section of the property, consisting of 20,000 square feet, was leased by the council to another company several years ago.

Castlebar councillors rubber-stamped the deal at their monthly meeting last week. There were no dissenting voices in the council chamber.

“I would like to congratulate everyone involved in the negotiations and wish the very best of luck to the new tenants,” said Cllr Al McDonnell.

The Vaughan family, which operates a number of shoe shops in Mayo, are to purchase the building.

Cllr Cyril Burke said the sale makes perfect sense for the local authority. 

“It’s a great price and a great opportunity for the town and a business going into it,” said Cllr Burke.

The building has been vacant for about 14 years. 

“That’s too long for a prime site like it to be lying empty,” said Cllr Burke.