Eyre Square, Galway’s leading shopping centre, is due to be brought to the market by Colliers for €13 million, according to a report from Galway Advertiser.
Developed by McInerneys in 1991, it remains the city’s premier retail destination comprising over 70 retail units and kiosks attracting approx. 270,000 visitors a week.
The centre also has direct access to 450 car parking spaces in Eyre Square car park. The building forms part of a combined shopping centre with both Corbett Court and Edward Square Shopping Centre, with access provided directly from Eyre Square, Williamsgate Street and Castle Street. Anchored by Penneys and Dunnes Stores, the centre enjoys a strong mix of local, national and international retailers.
The sale comprises eight retail units, control of the centre together with the freehold common area units. The eight retail units boast a strong tenant lineup, including JD Sports, Great Outdoors, Specsavers, Diesel, Starbucks and Vero Moda.
The Common Area Units comprise a number of short and long term rolling licence agreements to include various kiosks, store rooms, telecoms masts and general mall income.
Michele McGarry, Capital Markets, who is handling the sale on behalf of Collier, said they are expecting to see significant interest from investors given the attractive yield and high profile of Eyre Square Shopping Centre.
“Furthermore, with the current strong demand from both international and domestic buyers and the rarity at which we see good quality product in Galway and indeed in all locations West of the Shannon, we expect solid demand for Eyre Square,” McGarry added.
