Douglas Court part of six-scheme sale for €120m

A second Cork shopping centre complex, Douglas Court, developed by the Love family’s Shipton Group, is part of a retail-dominated portfolio that is for sale valued at €120m.

This arrival follows the reported sale for €171 million, during the summer, of the Acorn portfolio. This portfolio included Shipton’s Blackpool Shopping Centre, in Cork, which sold for 30% over the €130m guide for centres in Cork, Tipperary and Dublin.

The Acorn portfolio was acquired by Värde Partners, via JLL and Roderick Nowlan, of Bannon, for Nama, and had a rent roll of €13.8m from 120 tenants: in Blackpool, Cork, in Clonmel’s Showgrounds, and Balbriggan’s Millfield Centre.