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Dublin: 11°C Wednesday 21 April 2021

Charlestown Shopping Centre could be yours for €35.5 million

Around 54,000 people a week visit the centre.

Image: Tony Healy

CHARLESTOWN SHOPPING CENTRE in Dublin is up for sale, with a guide price of €35.5 million.

The site includes an adjoining development site with planning for 247 apartments and ground floor commercial space.

Joint agents Savills and Bannon will be looking for proposals for the site, which it will sell as two lots or individually, consisting of the existing shopping centre and leisure/cinema block and the separate mixed-use development site.

Charlestown Shopping Centre is currently anchored by an owner-occupied Dunnes Stores – with the balance of the centre comprising 8,638 sq. m of lettable area across 26 units, kiosks and external shops.

Around 54,000 people a week visit the centre, which has over 1,300 car parking spaces.

The existing shopping centre produces a combined net income of €2,835,738, with an average unexpired weighted income of just under nine years. Over 75% of the income is derived from 10 tenants and current occupancy is running at 91%.

The adjoining site, which sits above a basement car park, extends to just over three acres and has recently received planning permission for a 247 unit apartment scheme above an additional 7,000 sq. m. of new commercial space at ground floor.

Savills says it expects strong demand in the site.

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