Blanchardstown Shopping Centre for sale
Blanchardstown Shopping Centre in Dublin is to be put on the market by its controlling property group next month.
22 January 2016 | 0
Blanchardstown Shopping Centre is to be put up for sale next month. The centre, Ireland’s largest retail complex and home to more than 170 stores including Dunnes Stores, Penneys, Debenhams and M&S, will be released to the market next month by Green Property Group and joint agents JLL and Eastdil Secured.
With an annual footfal of more than 16m people and rental total of approximately €50m, interest is expected to be high in the current climate of strong economic recovery. As well as the retail stores, Blanchardstown has 20 restaurant and food outlets, two retail parks and a multiplex cinema. The development covers 85 acres and boasts 6,000 car parking spaces.
The land also contains capacity for expansion in the way of office space, apartments or further retail units under a master development plan.
Green Property Group’s chairman Stephen Vernon described Blanchardstown Shopping Centre as “one of Europe’s most successful and vibrant retail destinations.
“I believe now is the optimal time to transition to new ownership and take advantage of its development potential and capitalise on the recovery phase of the consumer cycle.
“A fundamentally strong economic backdrop, compelling development potential and the inherent strengths of this asset present significant opportunity for the new owners of this great centre.”