€20m medical centre site put up for sale
A development site with full planning for an estimated €20m medical centre near Cavan Town has been put up for sale.
The greenfield property of 1.46 ha (3.61 acres) at Lisdaran is directly adjacent to Cavan General Hospital between Golf links Road and Loreto Road.
A little over 12 months ago An Bord Pleanala upheld a decision of Cavan County Council to grant planning for the proposed 83,000sqm centre development, albeit with revised conditions.
The property has been listed for sale by CBRE, a global leader in commercial real estate services and investments.
Plans for the centre were granted to Lisdarn Partnership, a Cavan based investment company.
It was, at one stage, envisaged that the medical centre would be developed as part of a wider health village that could, according to planning submissions, one day “relieve pressure on existing acute medical services” locally due to its strategic proximity to Cavan General.
The second element to the site was a proposed 160 bed nursing home to be build in two phases of 80.
In September, Trygve Limited, whose largest shareholder is the Dublin-registered but French owned Emeis Ireland Limited, published their intention to apply for permission a new two-storey 112 bed nursing home instead.
That application however was deemed incomplete, and earlier this month the company returned to local planners with a fresh set of plans for a similar type development.
The Lisdarn Partnership, a local business consortium, are understood to have sold the nursing home side of the site to Emeis, which rebranded from Orpea earlier this year, following a series of allegations in France which the company has at all times rejected.
In March of this year Emeis Ireland successfully secured the sale and leaseback of three brand new nursing homes- Portmarnock, Portlaoise and Kilkenny- to Healthcare Activos in a deal worth €56m.
The properties sold were only recently constructed, and have a total capacity of 332 beds.
They continue to be operated by Emeis Ireland.