Donnybrook Mall is the latest high profile retail asset to be put on the market. Property advisors, CBRE, have been instructed by Willaim O’Riordan, receiver of the assets of Padholme, to dispose Donnybrook Mall.
The trophy asset, located in the heart of Dublin 4, is rumoured to have a guide price of €6 million. The scheme comprises of a two-storey retail parade and is 100% occupied. Aside from being anchored by Tesco, who opened the scheme in 2012, other tenants include Lloyds Pharmacy, The Natural Bakery, Expert Hardware, Lyk Nu dry cleaners, Abrakebabra and Marian Gale. The selling agents are confident that this move will captivate investors because of the redevelopment potential it offers. Natalie Brennan, Director of CBRE, said, “With the existing tenant line up accounting for 48% of the income as well as the future redevelopment prospects, this will captivate interest from a variety of investors.” Padhome obtained planning permission to demolish the existing scheme in 2008 and replace it with a four storey over basement mixed use development extending to 4’492 sq. m. This permission has been extended until January 2019 and any buyer will inherit this. © 2014 - Checkout Magazine by Stephen Wynne-Jones