Savills has launched Wilton Shopping Centre to the market on behalf of York Capital, guiding in excess of €86m which comprises €76m for the Shopping Centre.
€10m is to be used for a mixed-use development site.
The sale offers an investment opportunity to acquire Cork’s dominant retail centre that boasts Cork city's only suburban Penneys’ store.
The established shopping centre is anchored by the Penneys and Tesco stores and boasts a footfall of over 5.5 million per annum.
Other key retailers in the shopping centre include:
- Peter Mark
- Euro Giant
- EBS Ltd
- New Look
- Lifestyle Sports
Notification of Decision to Grant was recently received for the retail centre’s northern section, close to Cork University Hospital and the Maternity Hospital and include a 190-bed hotel set to serve hospital visitors among other guests, a 14-screen cinema, a public plaza, a two-storey 75,000 sq ft anchor unit along with other retail and office space, and 874-space multi-level carpark among other additional parking provisions.
Fergus O’Farrell of Savills commented;
“The unique combination of accessibility from across the city and suburbs, proximity to the two largest third level institutes and Cork University Hospital, and home to Penney’s only suburban Cork store ensure that Wilton is a sustainably strong retail location with a diverse consumer base supporting the range of retailers within the scheme."
"The opportunity offers future development potential to create a dominant district centre in an area of proven demand, which will ultimately improve the centre and enhance investors total returns.”