Charlestown shopping centre in north Dublin, along with an adjoining development site with planning for 247 flats and 75,000 sq ft of ground floor commercial space, has been put up for sale with a guide price €35.5m.
Joint agents Savills and Bannon are seeking proposals for the property as either a single entity or two separate lots.
The shopping centre is anchored by an owner-occupied Dunnes Stores – alongside 92,980 sq ft of lettable space across 26 mall units, kiosks and external units. Average weekly footfall is 54,000 people and it has parking for more than 1,350 cars. The adjoining site, which sits above a basement car park, extends to just over three acres.
The shopping centre and leisure/cinema block produces a combined net operational income of €2.8m pa, with an average unexpired weighted income of just under nine years. More than 75% of the income is derived from 10 tenants and occupancy is 91%.
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