Tuesday, September 20, 2022

Fairgreen Shopping Centre is up for sale for €22.85m

CARLOW’S Fairgreen Shopping Centre is up for sale with a price tag of €22.85m.

The centre, developed and owned by Northern Ireland businessman Dr Gerard O’Hare, extends to 23,117sq m of retail space and 50 retail units, including three owner-occupier anchor tenants.

The current nett rent roll is €2.36 million per annum, with a potential net yield of 9.4%. It is reported in the Irish Times that there is footfall of some three million visitors annually. The two main phases of the three-phase scheme are virtually fully occupied at present, with just one kiosk space unoccupied.

Planning permission was also secured in 2019 for a new two-storey standalone retail unit with a view to securing an additional large anchor tenant. The centre was previously put up for sale in 2016 with a price tag of €36m but failed to sell at the time.

Property specialists JLL are bringing the centre to the market on behalf of Ernest and Young.

 

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