Consultancy buys €12m German shopping centre for private investors

TRALEE-based business consultancy McQuinn Consulting has bought a German shopping centre for €12.2 million, on behalf of private investors.

The new property is based in the city of Saarbrucken in south-west Germany and is due to open at the beginning of next month. The investors come mainly from the farming community.

The shopping centre has a full capacity of tenants in place on 15-year lease agreements. These include the likes of Aldi — the German discount retailer, which is one of two anchor tenants at the site — and Rewe, the country’s second largest retailer. Sparkasse Saarbrucken, the leading bank in the region, is also a tenant.