Eyre Square Shopping centre in Galwyas city centre has reportedly been sold for €9.575 million to a fund managed by Davy Real Estate, according to the Irish Times.
The sale was handled by Colliers, who did not identify the purchaser, however The Irish Times said it understood Davy Real Estate to be the scheme’s buyer.
The amount paid is a discount of 33% on the €12.75 million guide price Colliers had listed it as when it brought the shopping centre to market on behalf of US investment company Marathon Asset Management last year.
Eyre Square Shopping Centre comprises over 70 retail units and kiosks, however the sale itself was reportedly confined to eight retail units and control of the centre together with the freehold common area units.
Michele McGarry of Colliers’ capital markets division commented: “This opportunity saw significant interest from investors, predominantly domestic, given the attractive yield and high profile of Eyre Square Shopping Centre.”
