The Square Towncentre in Tallaght has gone on sale, with an expected asking price in excess of €233m.
The 577,500 sq ft scheme was originally opened in 1990 and sits on a site of around 27 acres.
Cushman & Wakefield and JLL are joint agents for the sale.
Anchored by Tesco, Debenhams and Dunnes Stores, The Square has estimated door counts in the region of 22m per annum.
A number of the 160 units in the scheme were originally sold to owner occupiers, individuals and to groups of separate investors.
Over the past six years the ownership of the scheme has undergone a significant transformation with the current vendor consolidating its ownership to a position whereby the new owners will hold 118 Retail Units (including a 13 digital screen Cinema) and six ATMS in the centre and have the controlling stake in the management company.
The vendor’s interest is generating a net operational income of around €13.97m with a current weighted average unexpired lease term of just under seven years
Over 70% of this income is secured for over five years.
