Major retail park investment portfolio on the market for €162 mln (IE)

The portfolio includes: Nutgrove Retail Park, Letterkenny Retail Park, Sligo Retail Park, Tullamore Retail Park, and Deerpark Shopping Park. It represents the largest Irish real estate opportunity to come to the market in terms of its overall floor area.
Savills and JLL have been appointed on behalf of two separate vendors to bring ‘The National Portfolio’ to the market this week. The portfolio comprises 5 well located retail parks. At over 102,193 m², the national portfolio will represent the largest Irish real estate opportunity to come to the market in terms of its overall floor area. The portfolio will be available in 3 lots.
Lot 1 is the highly successful Nutgrove Retail Park in Rathfarnham, South Dublin. Lot 2 includes four major regional schemes namely Letterkenny Retail Park, Sligo Retail Park, Tullamore Retail Park and Deerpark Shopping Park in Killarney while Lot 3 comprises the entire National Portfolio.
The quoting price, in excess of €162 mln, equates to an initial yield of approximately 7.2% and is expected to attract significant levels of interest from domestic and international investors looking for value-add investments in an ever improving retail landscape. The current annual gross income across the entire Portfolio is approximately €12.2 million per annum and offers an attractive WAULT of approximately 10 years.
Source: Savills