Sandhills Shopping Centre on sale for €4m
18 March 2016 | 0
Sandhills Shopping Centre in Co. Carlow, presently occupied by tenants including SuperValu, Crotty’s Bakery and Boyle Sports, is on the market with a price tag of €4m.
The Irish Independent reports that Colliers has been retained to sell the centre on the Hacketstown Road in Carlow town. Located off the N80 by-pass, the site is less than 2km from the town centre, on the Pollerton side of the town.
Completed in 2008, the centre comprises eight ground floor retail units and a first floor restaurant. Combined, the floor area totals circa 27,260 sq ft and there are also more than 100 customer car park spaces.
With no vacant units and the current passing rent being €427,900 per annum, with long, unexpired leases, Colliers’ Michele McGarry said the property “will appeal to an investor looking for an easily managed retail investment”.
The €4m asking price equates to a net initial yield of 10.2%.