Tuesday 25 October 2016

Blanchardstown shopping centre up for sale, annual rent roll of €50m

Paul O'Donoghue

Published 21/01/2016 | 14:53

The Black Friday crowds in Blanchardstown
The Black Friday crowds in Blanchardstown

Blanchardstown Centre, the biggest retail complex in the country, is to be put up for sale next month.

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The centre, which is owned by Green Property Group, will be formally released to the market by joint agents, JLL and Eastdil Secured, in early February.

The centre has an annual footfall of more than 16 million people and a rent roll of approximately €50m per annum.

The 112,000 sq.m (1.2 million sq.ft) complex has 176 stores which includes 20 restaurant and food outlets, two retail parks, and a multiplex cinema.

The existing development and lands covers 85 acres with up to 6,000 surface car parking spaces.

There is the capacity for development in the region of 148,500 sq.m (1.6 million sq.ft) comprising 93,000 sq.m of retail, offices, leisure and 600 plus apartments, under a master development plan that governs the site.

Green Property Group Chairman Stephen Vernon said: “Blanchardstown Town Centre is...one of Europe’s most successful and vibrant retail destinations. I believe now is the optimal time to transition to new ownership to take advantage of its development potential and capitalise on the recovery phase of the consumer cycle.

“A fundamentally strong economic backdrop, compelling development potential and the inherent strengths of this asset present significant opportunity for the new owners of this great centre.”

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