Dunnes buys Lucan Shopping Centre
LUCAN shopping centre

Dunnes buys Lucan Shopping Centre

LUCAN shopping centre has been bought by the owners of Dunnes Stores.

According to the Sunday Times, the deal is reported to be worth €38 million.

SuperValu is the anchor tenant in Lucan shopping centre where it also has offices, and is one of Dunnes biggest rivals.

In April last year, before the mall was put on the market, it signed a 20-year lease at an annual rent of €1.6 million.

There is also a Dunnes Stores in the centre, the unit owned by the retail group since the complex was built in the early 1990s.

The sale price is a steep discount on the €43 million that Savills Investment Management paid for the centre on behalf of its European retail fund in 2017, the report stated.

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