BVK, Germany’s largest pension scheme group, and Universal-Investment, as investment manager have completed the acquisition of Liffey Valley Shopping Centre and a 7 hectare adjacent parcel of development land.
Liffey Valley was formerly owned by a consortium comprising HSBC Alternative Investments, Grosvenor Britain & Ireland and Hines. Hines will continue to act as asset and development managers for the centre following the closing of the sale.
Liffey Valley Shopping Centre comprises over 71,000m² of retail and leisure space. It includes over 100 shops, restaurants and multiplex cinema and 3,500 parking spaces.
In August 2016, planning permission was granted for an additional 22,000m² net retail space together with a mix of other uses. Plans include a transformation of the Centre’s civic spaces with the addition of a major new public space equivalent to a typical European-scale Urban Plaza.
HWBC acted as advisers to the purchasers and as the transaction managers and co-ordinators for all parties on the BVK and Universal Investment side.
