Located in the heart of an established residential area, the shopping centre comprises 24 retail units with a combined floor area of 12,007sq m , on a 3.8 hectare site. The scheme is anchored by, owns its own premises. There are 702 free car-parking spaces within the site at surface and basement levels, and the centre has an annual footfall of some 3.3 million.
Since being acquired by Savills IM, the west-Dublin retail scheme has been the subject of a programme of asset management, involving a number of lease renewals and an extension of the lease with the Musgrave Group for its SuperValu store. Savills also secured planning permission for the development of two additional retail units within the scheme’s car park.
The passing rent of the centre is now in the region of €2.7 million, underpinned by the long-term lease agreement to SuperValu, which accounts for approximately 60 per cent of the income. The weighted average unexpired lease term to expiry is about 12.5 years.