Blanchardstown Shopping Centre goes up for sale

The centre has a current rent of approximately €50m per year

Blanchardstown Shopping Centre, for sale, Dublin, Green Property Group, rent, footfall, Stephen Vernon

File photo | Image: RollingNews.ie

The property group that owns the Blanchardstown Shopping Centre in Dublin says it intends to sell it.

It will be formally released to the market by joint agents JLL and Eastdil Secured in early February 2016.

The centre sees annual footfall in excess of 16 million, which Green Property Group says is exceptionally strong by European standards.

The centre has an existing development of 112,000 sq. m. with 176 stores - including 20 restaurant/food outlets, two retail parks, and a multiplex cinema.

It also is made up of four anchor tenants: Debenhams, Dunnes Stores, Marks & Spencer and Penneys.

It also has up to 6,000 surface car parking spaces and is served by some 600 buses daily, according to the Green Property Group.

The centre has a current rent of approximately €50m per year.

Stephen Vernon, Green Property Group chairman, said: "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," he added.