Cork’s long-established Merchants Quay Shopping Centre comes to market

Prime Irish retail investments are now tracking the pick-up evident in the country’s top office markets since 2013; thus, the sale this month of Cork’s long-established Merchants Quay Shopping Centre is expected to gain international traction — despite its relatively small lot size, at a value of just €12.5 million for its 29 shop units and €1.47m rent roll.

The sale of the 27-year old centre bookending Cork’s prime retail thoroughfare, St Patrick’s Street for owners Atrium Nominees, excludes the four key anchors, which are separately owned, and also excludes the busy multi-storey car park.

Those four anchors linked into the centre’s mall are Dunnes (who’ve a new flagship store further down the street), Debenhams, Super Valu and a strongly-trading Marks and Spencers.