Prime Waterford property deals

TWO prime Waterford City investments worth €13.5m — one next to where Wetherspoons have acquired a 4,000 sq ft city footprint for a new bar — are new to market for a local family of investor/owners.

The sales include a two-storey, 500-space car park under the City Square Shopping Centre — which is also for sale, at a €20m-plus valuation, as previously reported here, and which is likely to go to a best-bids conclusion in coming weeks with JLS and DNG Commercial.

Now, into the investor spotlight trained on Waterford City centre comes the John Sisk-built car park at City Square, with income in excess of €1m pa and with a substantial profit margin: it’s priced at €7m by local agent, Des Purcell. Its timing is good, given the interest in the City Square Centre, where another investor is also offering two units held in separate ownership to the main IBI-owned shopping mall, via Savills.