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US Firm Buys Skerries Shopping Centre In €3.4m Deal

Grand Coast Capital has bought the Skerries Point Shopping Centre in a €3.4 million deal.

The investment is reportedly €400,000 above the guide price and will show a net yield of 7%.

Currently, the vacancy rate 'stands at 57%'.

The American investment also acquired Swords Plaza three months ago, as well as a 'mixed-use office and retail development' on Main Street, for €13.5 million.

Sources close to company said it is looking for additional retail centres in good locations, reported Irishtimes.ie

The key tenants within the shopping centre include Eurospar and Boylesports.

Skerries Point extends to 6,381sq m (68,682sq ft) and has parking at surface and basement level for 200 cars.

© 2017 - Checkout Magazine by Donna Ahern

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