Marathon sprints off with €9.575m from sale of Eyre Square but took a 25% hit on price hopes

Marathon selling in Galway, Tralee and Waterford for c €90m combined. Galway's  AMV was €12.75, and it sold now for €9.575m. Marathon bought at Eyre Square  for €21m in 2015, but sold off the Penneys unit last year for €11m via Colliers

Eyre Square Shopping Centre in Galway has been bought for €9.575 million  by Davy Group via Colliers agent Michele McGarry, who sold the Penneys unit seperately last year for c €11 million

NEW York-based asset management fund Marathon has sold the first of a trio of Irish shopping centres it put on the market last year guiding a combined €90m+ but in separate deals,  in Tralee, Waterford and Galway.

But, while Tralee’s Manor West made just over its €55m price guide, with the purchase linked to Kerry property dynamo Pat Crean’s Marlet Group late in 2021, and the sale of Waterford is agreed and advancing, the Galway centre, the cheaper of the three,  has been sold off at 25% lower than the guide price/AMV.