Two major property investment deals worth €60m combined completed in Cork city

Oz retailer Harvey Norman buys retail element of O'Flynn Group-developed Eastgate scheme in Cork for close to €24m as an investment, while a fund spends €114,000 per student bed space in c €40m deal by Munster Technological University off city's Model Farm Road

Go, Harvey, go: Harvey Norman has bought as an investment the retail park element at Eastgate, Little Island, Cork for an unconfirmed €24m from developer/owners the O'Flynn Group. Picture: Eddie O'Hare

TWO major property investment deals, worth over €60m combined, have just been secured in Cork, at Eastgate Retail Park, which has been sold to Australian retailer and park tenant Harvey Norman for c €24m, along with a 342-bed student complex in the western suburbs by MTU, for up to €40m.

The Eastgate deal is Harvey Norman’s first property investment in Ireland, where it operates at 16 locations to date, and is also notable as it sees the online and store-based retailer invest in retail locations here with co-anchors/other tenants.