Marlfield Mall sold for €950k at online auction

Marlfield Mall sold for €950k at online auction

By Aideen O'Flaherty

THE Marlfield Mall in Kiltipper, Tallaght, was sold for €950,000 at an online auction last week.

The development attracted one bidder, who looks set to acquire the multi-use retail investment opportunity, consisting of four ground-floor retail units.

Bidx1 marlfield Mr Price compressor

The Marlfield Mall was sold for €950,000

Three of the four units are already occupied, including Nua Hair and Beauty, on a five-year lease from November 2018 with a current rent of €15,000 per annum, and Diego’s Takeaway, on a ten-year lease since October 2017 with a current rent of €36,400 per annum.

The largest tenant is Mr Price, with a unit of 743 sq m, which is on a 20-year lease which began in August 2018, bringing in a current rent of €79,970 per annum.

The fourth unit, totalling 105 sq m, is currently vacant, while surrounding occupiers include Kiltipper Cafe Bar and Cocoon Childcare.

In the listing for the development, it was stated that the development that went under the hammer consisted of the four retail units at the ground floor of the Marlfield Mall only, and that the subject property is part of a wider mixed-use development over ground and two upper floors.