Irish Retail Investment Portfolio for Sale
Agents Bannon are delighted to present to the market the sale of Hazel Portfolio, comprising of two provincial shopping centres and one retail park. Geographically diverse collection of retail assets which benefit from their position as dominant retail centres in their respective catchments. High profile tenants include Pennys, TK Maxx, Next, New Look, Homebase, B&Q and Harvey Norman.
1. Wilton Shopping Centre is located in the suburb of Bishopstown approximately 3 kms south west of the city centre and opposite Cork University Hospital.
Wilton Shopping Centre is the second largest shopping centre in Cork (after Mahon Point), with an impressive footfall of approximately 105,000 per week (5.5 million per annum). The centre extends to 10,151 sq.m (109,259 sq.ft) (excluding Tesco) of sales, ancillary and storage accommodation over predominately one trading level. The shopping centre has extensive surface car parking, 607 included within the sale and a further 394 relating to Tesco, situated on a site area of approximately 9 hectares (23 acres).
2. Drogheda Retail Park is situated at Junction 9 of the M1 Motorway and Donore Road. It was developed in 2005 with additional phases added in 2006 and 2008. The entire extends to approximately 19,919 sq.m (214,405 sq.ft) across 15 units with over 982 free surface car parking spaces.
Included in the sale is Unit 15 Newgrange Business Park which is located adjacent to the Retail Park. The unit is fully occupied by Blackstone Motors at a passing rent of €120,000 per annum with a term certain of 5.87 years. This unit is located close the Tesco F60 store.
3. Gateway Retail Park is located on the west side of Galway City just off the Bothar na dTreabh via the Western Distributor Road. The surrounding area is a densely populated suburb of Galway City with undeveloped residential zoned land which has potential to absorb future housing demand.
The Retail Park forms part of a wider estate which includes an office development occupied by Aviva and an industrial unit occupied by Zenimax. Planning permission was granted for Aldi immediately adjacent to Gateway Retail Park with site works underway. Planning permission was also granted for a primary school on adjacent lands.
The retail park was developed in 2005 and comprises over 7,798 sq.m (83,936 sq.ft) across four units (excluding Dunnes). Car parking is provided at surface and basement levels for 698 cars.
Should you require further information or would like to discuss the opportunity in more detail please feel free to contact Alexandra Patterson on +353 1 6477900.
