Irish funds swoop on two Cork retail investments

Irish investment funds IPUT and Davy have made two separate swoops on suburban Cork retail assets.

Davy has paid close to €20 million for the Ballincollig Shopping Centre, with an income of €1.99 million and 7.96% return, while IPUT paid a reported €56 million for the Mahon Point Retail Park, anchored by B&Q, for a 7% yield.