Property development and investment company Development Securities has bought two retail investment properties in Dublin for €12.8m.
The two properties - Nutgrove Retail Centre and Beacon South Quarter - were acquired in a 50-50 joint venture with Clarendon Properties, an investment vehicle owned by Patrick McKillen and Tony Leonard.
Nutgrove Retail Centre, in Dublin's Rathfarnham area, comprises 45,000 sq ft of accommodation with key tenants including Petworld and Home Store & More. Its currency occupancy rate stands at 80.7%.
Beacon South Quarter is a mixed used development made up of retail, restaurant, residential and office space in south Dublin.
Matthew Weiner, the executive director of Development Securities said the deal marked the latest in a number of acquisitions that the company has made in Dublin.
He said that Dublin was an important market for the company, adding that it sees further opportunities for development, trading and investment activity.
"Both of the properties acquired today are well-located, established retail destinations that offer the potential to enhance value through proactive asset management," Mr Weiner added.
