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Tralee’s Manor West Retail Park on the market for €55 million

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Manor West Retail Park in Tralee

Manor West Retail Park in Tralee

Manor West Retail Park in Tralee

kerryman

MANOR West Retail Park in Tralee, Kerry’s largest shopping centre, has been put on the market with a price tag of over €55 million.

The centre’s owners, US based investment group Marathon Asset Management, are currently divesting a number of the Irish retail parks in it’s extensive property portfolio and agents Cushman and Wakefield have now been instructed to place Manor West on the market.

Marathon originally purchased Manor West for a reported €59 million 2015 so the current asking price represents a loss of €4 million on Marathon’s original investment.

There is expected to be significant interest in acquiring the Tralee Retail Park which has enjoyed an extremely successful few years.

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With the retail park now fully occupied – there are two vacant units but both are due to welcome tenants, Jysk and The Range, in the near future – the park will offer potential buyers an annual rental return of over €5 million.

Recently reported figures showed that the rental roll at the retail park had increased by more than 25 per cent since it was acquired by Marathon.

Agent Karl Stewart, of Cushman and Wakefield agent Karl Stewart said Manor West’s sale is “a unique opportunity” to acquire an established and dominant retail park with extensive catchment.

“The park performs incredibly well and has maintained strong occupancy levels since its original construction, with an unrivalled mix of national and international brands,” Mr Stewart said.


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