It’s being reported a major retail park in Kerry is to be put up for sale.
US investor Marathon Asset Management has instructed its agent to bring Manor West Retail Park in Tralee to the market, according to the Irish Times. Located in Tralee, Manor West Retail Park has a guide price of over €55 million.
This represents a 6% discount on the €59 million the current owners paid for the park six years ago. The report by the Irish Times says the retail park, with over €5.3 million in annual rent, has a number of large tenants across its 29-acre site.
Agents Cushman & Wakefield told the paper the sale represents a unique opportunity to acquire an established and dominant retail park and shopping centre, which caters for an extensive catchment in the southwest of Ireland.
The newspaper adds the retail park offers further development options, subject to planning permission, as well as potential opportunities to extend tenant leases and carry out rent reviews.
A range of investors are expected to express their interest in the park.
