The owner of the Blanchardstown Centre, which is Ireland's largest shopping complex, has announced its intention to sell the property.
Green Property Group has reportedly valued the centre at around €1bn and joint agents JLL and Eastdil Secured will bring the property to market next month.
The 112,000 sq m centre - with an annual footfall of around 16m - has 176 stores, including 20 food outlets, two retail parks, and a multiplex cinema.
Blanchardstown has four anchor tenants (Debenhams, Dunnes Stores, Marks & Spencer, and Penneys [Primark]) and has a yearly rent roll of around €50m.
The existing development and lands covers 85 acres with up to 6,000 surface car parking spaces and has strong road and public transport links.
A significant attribute of the site encompassing the centre is that is has additional development capacity in the region of 148,500 sq m, comprising 93,000 sq m of retail space, offices, leisure space, and 600 apartments, under a master development plan that governs the site.
John Moran of JLL, joint selling agent with Eastdil Secured, said: "There has been a wave of international, institutional capital chasing the very best of Irish real estate, with established players such as Hammerson, Allianz, Hines, Starwood REIT and a number of the German funds, Union, Real I.S. & Deka making significant investments in the past 12 months.
"We expect strong international interest in the development which offers potential for both rental growth and development opportunity," he added.
