Major Limerick retail park on market for €28m

THE City East Retail Park at the Ballysimon Road has gone on the market for €28m, it was revealed today.

Dessie Kilkenny and Brendan Delaney of Savills are seeking offers for the facility, whose stores include B&Q, Harvey Norman, Halfords, Home Store + More, EZ Living, Home Savers and Maxi Zoo.

The area is located near the Garryglass Industrial Estate, Delta Retail Park, Eastway Business Park, East Point Retail Park, Monaclinoe Industrial Estate and Crossagalla Industrial Estate all located on the Ballysimon Road.

Meanwhile, the offices at City East Plaza directly opposite the park are home to the global financial firm, Northern Trust, which employs close to 1,000 people locally.

Constructed by John Sisk & Son in 2006, City East comprises two detached blocks extending to a total area of 16,607.8 sq m (178,764 sq ft) with 525 free surface car parking spaces for customers.

The opportunity also includes the benefit of two separate planning permissions, which are live, but construction has not yet commenced for a coffee shop, and an additional shop unit.

Mr Kilkenny said: “Every dial on the retail economy dashboard is now pointing in a positive direction. On the back of improved disposable incomes and rising house prices / Home Renovation Incentive (HRI) scheme there has been big gains in the bulky good sub-indices with the likes of furniture, electrical and hardware all enjoying strong growth in volume sales. CityEast Retail Park presents investors with the opportunity to capitalise on this retail recovery and gain a foothold in one of the Irelands most exciting cities which is currently undergoing a transformation and significant investment under the Limerick 2030 plan.”