Another Dublin suburban shopping centre is to be offered for sale in the coming weeks. Turley Property Advisors and Knight Frank are guiding €2.75 million for Greendale Shopping Centre in the north Dublin suburb of Kilbarrack, which will show a return of 9.5 per cent after standard purchaser costs.
The centre has nine retail units and OPW offices with an overall floor area of 2,322sq m (25,000sq ft). The OPW pays an annual rent €100,000 for its extensive facilities, which includes a employment area and a dole office extending to 929sq m (10,000sq ft). The overall rental income from the centre comes to €268,799; tenancies have an average of 8.33 years to run.
The Centra’s 464sq m (5,000sq ft) supermarket, which is owned by the McHugh Group, is about to be doubled in size in the existing building. The new arrangement will involve a newly set rent of €40,000 for the landlord.
Shops in the centre range in size from 25sq m to 947sq m (270sq ft to 10,678 sq ft) and are let to Paddy Power, Ryans Pharmacy, Coast Cabs, St Vincent de Paul, Sopranos Takeaway, Good Fortune Chinese and Vanity Fair.
The centre also benefits from income from on site advertising. The extensive surface car parking is managed by Fingal County Council.
The centre is located along the Greendale Road about 9.6km northeast of Dublin city centre and 0.35km from the Howth Road. The shopping facility is about five minutes’ walk from Kilbarrack Dart station.
