International property advisor, Savills, has brought the Point Square scheme in Dublin’s north docklands to the market on behalf of the Joint Statutory Receivers, Stephen Tennant and Paul McCann of Grant Thornton, with a guide price of €75m.
The mixed-use scheme comprises approximately 103,000 sq ft of office space, a 242,000 sq ft shopping centre which incorporates a 95,000 sq ft anchor store, over 61,000 sq ft of space with planning permission for retail and/ or leisure use, a 6-screen cinema let to Odeon, and 756 car parking spaces.
It also houses 24,000 sq ft of permitted café / restaurant space – home to various food and beverage operators including Starbucks, Eddie Rockets, Ruby’s, Salad Box and Freshii.
In addition, Crossfit 353 have opened a gym in the scheme.
The sale will also include the Glass Box, situated in Point Square, Dublin’s first ‘glass box’ restaurant which is nearing completion and currently available to let.
Commenting on the proposed sale, Fergus O’Farrell, investment director in Savills said, “Point Square offers investors that rare opportunity to put in place an innovative and exciting asset management strategy while collecting significant rent roll.
“The retail component of Point Square offers buyers a blank canvas to put their unique stamp on this project, situated in an area that has undergone transformational change in recent years and where the likes of Microsoft, Salesforce and the Central Bank call home along with 25,000 residents.”
