The Square Shopping Centre has been bought by Shane Scully’s Eagle Street Partners according to reports
The Square sold in deal worth €130m
THE Square Shopping Centre in Tallaght has been sold in a deal reported to be close to €130m.
The price is about half the €250m previous owner Oaktree paid Nama for the shopping centre in 2018, but above offers in the region of €125m reportedly made earlier this year.
According to the Irish Times, who first reported the sale, the buyer is Shane Scully’s Eagle Street Partners, which owned a number of investment properties in the UK and Ireland.
The acquisition includes control of 118 of The Square’s 160 shop units, a cinema with 13 digital screens, and more than 2,400 car spaces.
The centre is anchored by Dunnes Stores and Tesco.
Penneys opened a large shop in the centre two years ago.
Earlier this year The Square was placed into receivership by key lender AIB.
US private equity giant Oaktree paid NAMA €250m for the shopping centre in 2018.
