Munich-based investor ALPHA buys Nutgrove Shopping Centre for €64m

AM ALPHA, the Munich-based investor, has bought Nutgrove Retail Park in Rathfarnham, for a sum believed to be more than €64m.

It was sold by Davidson Kempner, which had bought it as part of a portfolio of retail assets for €170m.

Facing Nutgrove Shopping Centre, the retail park is fully let and tenants include Harvey Norman, Homebase, Harry Corry, Costa Coffee and Aldi.

Extending to 197,700sqft, its space includes 168,000sqft of retail and 29,800sqft of offices. The Health Service Executive holds the office lease.

CBRE advised the vendor and TWM the purchaser.

“This transaction is a perfect example of how we are implementing our goal of delivering sustainable value to our long term investors,” said Martin Lernke, Managing Director or AM Alpha.

“As we are very convinced of its further potential and future growth, Ireland will continue to be a main focus for us and we will actively seek core and value-oriented investments across all sectors,” he added.