Friday 23 June 2017

Sigma named as asset managers for Harvest portfolio

Dungarvan Shopping Centre
Dungarvan Shopping Centre
Peter Flanagan

Peter Flanagan

A newly formed fund, GL (Ireland) ICAV has acquired Dungarvan Shopping Centre in Co Waterford as part of the Harvest portfolio sale.

The Harvest portfolio consisted of four provincial shopping centres purchased for almost €40m.

Dungarvan Shopping Centre generates an annual rental income in excess of €1.5m and comprises over 10,000 sq m of retail space with significant asset management opportunities.

The centre also includes residential, office and medical accommodation and provides future development opportunities on two adjoining sites comprising 1.03 acres and 3.51 acres. Both sites are zoned town centre.

Sigma Retail Partners have been appointed as the Retail Asset Managers over the centre and are working in collaboration with the fund managers, Davy.

Sigma Retail Partners MD Marcus Wren commented: "Within a very short amount of time since our appointment [we] have been in a position to implement several important value adding asset management initiatives including new lettings, lease regears and improvements to the centre's 450 spaces car park.

"Our work will continue over the coming months and years with a view to reinforcing Dungarvan Shopping Centre's rightful position as the dominant shopping destination within the catchment," added Mr Wren.

Dungarvan Shopping Centre opened in 2004. Easons and Shandon Medical Centre. The centre will continue to be enhanced by Sigma Retail Partners on behalf of the new owners over the coming months and years. Bannon have been appointed as letting and property managing agents

Sunday Independent

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