UPDATE: ECMI cigar factory sells for over €540,000

The cigar factory in Ballaghaderreen has sold for more than €540,000.

The Exclusive Cigar Manufacturing Ireland plant is in the process of closing, with the loss of 38 jobs, after being in operation since 1978.

Connaughton Auctioneers put it under the hammer in Durkin’s, Ballaghaderreen, this afternoon, with a reserve of between €550,000 and €600,000.

Advertisement

But a bidding war ended at €540,000 and after consideration with the owners, auctioneer Ivan Connaughton withdrew the property.

However, after the auction ended, it sold for an increased offer to a purchaser in trust.

Mr Connaughton says he has been informed by the purchaser in trust that the intended use of the premises will be for light industry.

However, it won’t open until at least the latter half of 2018.

The 47,000-square-foot premises is located on the Charlestown Road.