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Phase 1, The Park, Carrickmines, Dublin 18
The highly successful retail park, which opened in 2006, is fully let to tenants including Woodies, PC World, Jim Langan, Smyths Toys and Halfords, with a rent roll of approximately €4.9m.
The Brief
Savills was engaged to advise on the potential sale of Phase 1 of The Park Retail Park.
The Client
The client was Park Developments.
Our Solution
We advised the client on the value and negotiated with several parties who had made offers to acquire the property. This concluded with the sale of of the development to Warren Private Clients for a price in the region of €104 million, which reflected a record yield for Retail Warehousing in Ireland of approximately 4.25%.
How we added value
We provided strategic advice to our client regarding the value and offers received.
We negotiated with prospective purchasers and liased throughout with legal and professional team to ensure the transaction concluded quickly and confidentially.
