Savills and JLL have been appointed on behalf of two separate vendors to bring Ireland’s National Portfolio to market this week for a price in excess of €162m (£114m), representing a 7.2% yield.
The 1.1m sq ft portfolio comprises five Irish retail parks and is the largest Irish real estate opportunity to come to the market in terms of overall floor area. The portfolio will be available in three lots.
Lot one is Nutgrove Retail Park in Rathfarnham, south Dublin. Lot two includes four major regional schemes: Letterkenny Retail Park, Sligo Retail Park, Tullamore Retail Park and Deerpark Shopping Park in Killarney. The two lots are available to purchase together or separately.
The sale is expected to attract interest from domestic and international investors looking for value-add investments in an improving retail landscape. The current annual gross income across the entire portfolio is around €12.2m pa and offers a WAULT of around 10 years.
