Liffey Valley Retail Park set to be sold for €60 million

LIFFEY Valley retail park is in line to be sold for €60m.

Preparation for the sale is being organised by the Eircom Superannuation Fund, the scheme responsible for the pension benefits of current and former Eir workers.

The retail park is located immediately adjacent to Liffey Valley Shopping Centre, with a guide price of approximately €60 million via agent Bannon.

Telecom Eireann SA Pension Fund purchased the site in 1999 from its joint developers Grosvenor Estate Holdings and O’Callaghan Properties at a cost of €57 million.

The site comprises 205,514sq ft of retail accommodation distributed across 12 units and a drive-through restaurant along with 550 free surface car-parking spaces.

Tenants include PC World, Halfords, Sports Direct, EZ Living, Jysk, Maxi Zoo, CarpetRight, Harry Corry and McDonald’s.

The proposed disposal of the retail park at Liffey Valley comes just over three years on from the sale for €26 million by Aviva and Irish property company Iput of the nearby B&Q store to the French fund Inter Gestion REIM.

Located on a stand-alone 9.26-acre site, the store extends to 119,213sq ft with an ancillary garden centre and a builder’s stores and a service yard. The unit also benefits from a large surface car park comprising 552 spaces.

Liffey Valley Shopping Centre meanwhile was acquired by its current owner, the German public pensions group Bayerische Versorgungskammer (BVK), for about €630 million in 2016.