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Five provincial shopping centres on sale for €50m

Five relatively small provincial shopping centre are to be offered for sale on the instructions of Nama labelled “The Harvest Portfolio”. Joint agents Bannon and Lisney are to seek in excess of €50 million for the grocery-led centres in Dungarvan, Thurles, Mullingar, Navan and Cashel which are to be sold in a single lot.

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Regatta Flagship Store Opening Today

Regatta, the high performance outdoor wear brand, is opening a flagship store at the Pavilions Shopping Centre today, with another store to follow in Athlone Town Centre soon. Congrats to the Bannon letting team.

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NAMA to bring five major portfolios of Irish property to the market in Q4 2014

The National Asset Management Agency (NAMA) has announced that it will bring five Irish property portfolios, with a combined value of approximately €600m, to the market in Q4 2014. The portfolios will comprise offices, shopping centres, hotels and apartments. This announcement is in line with NAMA’s publicly stated intention to bring property portfolio sales with a minimum value of €250m to the market each quarter.

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Retail Warehouse Units For Sale – Barrow Valley Retail Park, Carlow

Barrow Valley Retail Park have 9 retail warehouse units for sale on the instructions of the Joint Receivers Michael Madden and Michael Coyle. Units are available individually or as a single lot.

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Six Irish shopping centres to be offered in Project Spectrum

Joint agents Bannon and Savills are quoting €120 million for six Irish shopping centres at Douglas in Cork, Quayside in Sligo town, Bloomfields in Dún Laoghaire, Co Dublin, The Mill in Clondalkin, Dublin 22, Kilbarrack in Dublin 5 and Dundalk Retail Park in Co Louth. The sale also includes a rented three-storey office building in Clondalkin and 30 acres of development land adjoining Dundalk Retail Park.

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KPMG prepares fresh sales process for IBRC’s unsold projects

KPMG has repackaged all €2.4bn unsold IBRC non-performing loans (NPL) in three separate portfolios, dubbed projects Amber, Quartz and Pearl, in a set of fresh blind auction processes which are targeted for staggered closures before the year end.

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RBS shortlists for Project Achill Final Round

Royal Bank of Scotland has selected a shortlist of three private equity funds and one investment bank – Lone Star, Cerberus Capital Management, Oaktree Capital Management and Deutsche Bank – to progress to the second and final round for the nominally-valued €1.2bn Project Achill portfolio, following first round bids which were submitted on 1 August. The four finalists are understood to have bid for the majority of Project Achill, which comprised 31 separate borrower connections over six subpools originally extended to Ulster Bank, an RBS subsidiary.

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New partnership in Northside Shopping Centre

Patron Capital Partners has formed a new retail and residential partnership with Brian O’Callaghan, the son of well-known Cork developer Owen O’Callaghan. Patron has already begun working on its first joint project with Mr O’Callaghan to operate and expand the Northside Shopping Centre on the northern fringe of the M50 in Coolock, Co Dublin.

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Värde Partners wins NAMA’s Acorn portfolio for over €170m

Värde Partners outbid a joint venture of Burlington Real Estate, the reborn management team from Treasury Holdings, and US hedge fund Davidson Kempner to acquire the Acorn portfolio from NAMA for more than €170m, 30% above the initial asking price.

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Bannon appointed management agents for Gorey shopping centre

Bannon have been appointed management agents for the Gorey shopping centre.

The centre is anchored by Dunnes Stores in the South-East, who are joined by some of the leading Irish and international retail names such as the Carphone Warehouse, Elverys Sports and Gamestop. Gorey has over 30 stores spanning more than 150,000 square feet, is open 7 days a week, and have over 400 FREE parking spaces.