The Square to be put on market for €170 million

THE Square Tallaght shopping centre is to be put on the market later this year by it’s American owners for about €170m.

Oaktree capital, the US private equity company that bought The Square from Nama, the state bad bank, in 2019 for €250m, declined to comment to the Sunday Times.

The Square, which is managed by Sigma Retail Partners, scored a significant coup last year when Penneys opened in the old Debenhams unit.

The mall has 53,000 sq m of shopping space distributed over more than 130 outlets and a Movies@ cinema, owned by the Spurling family.

The American doughnut chain Krispy Kreme has also recently opened a shop in the mall.

Indego, one of the Square’s operating companies, was granted an extension to planning permission for a 21,490 sq m extension at level two and a six-storey car park, but it’s due to expire next year.

There is also potential for residential development on the site but no planning application has yet been submitted.

Companies Registration Office filings for Indego show its parent company extended its €191m loan facility with AIB for 12 months, after it was due to expire this month.

News of the planned sale of the Square follows the revelation that Goldman Sachs is to put Blanchardstown shopping centre and its adjoining retail parks on the market for between €650m and €725m.

The investment bank acquired the centre from Blackstone, another US private equity firm, in 2020 for about €750m.

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