Ireland’s largest regional shopping centre, Whitewater in Newbridge, County Kildare, has been bought by Deka Immobilien on behalf of Deka-ImmobilienEuropa for €180m (£141m).
It bought the mall from a joint venture between Sean Mulryan and Michael McAteer as administrator of the estate of Liam Maye. Having previously acquired Mahon Point shopping centre in Cork in 2005, this latest acquisition means Deka now controls two of Ireland’s prime regional shopping schemes.
Whitewater, which was developed in 2006, extends to 320,640 sq ft over a two storeys. The mall includes four anchor tenants, 47 shops, 10 food court units with seating for 650 people, nine kiosks, a six-screen cinema, 17 external retail units and 1,701 car parking spaces. There are also 84 homes.
Domhnaill O’Sullivan, director at Savills Ireland, said: “The sale of Whitewater shopping centre was keenly anticipated by many domestic and international investors looking for scale and security but potentially not willing to compete for the enormous scale which was offered through Project Jewel. This was apparent throughout the sales process which attracted strong interest from domestic and global institutional capital, as well as a host of private equity investors.”
Savills acted for the vendor; CBRE represented Deka Immobilien.
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