Thursday 18 January 2018

Sandhills Shopping Centre goes on the block for €4m

Colliers is quoting €4m for the Sandhills Shopping Centre in Carlow
Colliers is quoting €4m for the Sandhills Shopping Centre in Carlow
Peter Flanagan

Peter Flanagan

Colliers is seeking €4m for the Sandhills Shopping Centre in Co Carlow.

The agents have been retained to offload the cente on the Hacketstown Road in Carlow Town. The property is located off the N80 by-pass, and is less than 2km from the town centre.

Sandhills Shopping Centre is located on the Pollerton side of the town, an established area that has experienced significant residential development over the last decade.

Sandhills Shopping Centre was completed in 2008, it is well laid out and comprises eight ground floor retail units and a restaurant at first floor level, the combined floor area is approximately 27,260 sq ft and there are over 100 customer car park spaces.

There is an excellent tenant mix and occupiers include Super Valu, Crotty's Bakery and Boyle Sports. There are no vacant units and the current passing rent is €427,900 per annum.

"Sandhills is a busy neighbourhood centre on the outskirts of Carlow town enjoying a good tenant mix with long unexpired leases, the property will appeal to an investor looking for an easily managed retail investment," said Colliers' Michele McGarry, who is running the sale process.

The €4m asking price equates to a net initial yield of 10.2pc.

Carlow is a vibrant town located well within commuting distance of Dublin, with numerous International employers including MSD and Oglesby & Butler.

Carlow is also a student town with a large Institute of Technology Campus. The town also benefits from a wealthy agricultural hinterland and the town has a catchment of over 54,000 people.

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