Sale of Merchants Quay units could fetch €12.5m

The investment sale of 29 shop units in the Merchants Quay Shopping Centre, on Cork City’s Patrick Street, is expected to make more than €12.5 million, with buying interest likely to come from a range of skilled retail asset investors.

The sale of the dozens of units and central mall excludes the four anchor tenants linked into the centre, and does not include the sizeable extra footprints occupied by Dunnes Stores, Debenhams, Marks and Spencer and SuperValu or the development’s multi-storey car-park.

The parking amenity and strength of the four anchors underpin the centre’s viability and footfall, which tops eight million a year; current rental income is €1.47m.