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Kinsealy enclave of 10 shops and office units sold

A high-net-worth Malahide family is reported to have paid €2.5 million for 10 shops and office units in an attractive neighbourhood centre at Kinsealy in north Co Dublin. Kelly Walsh and Bannon handled the sale of St Olave’s Neighbourhood Centre which is producing a rental income of €221,000 with potential to increase it to €270,000.

The uses include a crèche, gym, bridal shop, hair salon, auctioneers,cafe and home furnishings.

St Olave’s has an L-shaped layout with a village-style setting and landscaped open space. Apart from the own-door offices and shops there are 32 adjoining apartments and townhouses.

Seven of the 10 retail and office units front on to the landscaped courtyard while the other units are located at lower ground and first floor. The range of units extend to 1,300 sq.m (14,000 sq.ft) and are serviced by 46 basement car parking spaces. The centre was developed by Christopher Dowling and George McGarry of Newlyn Developments.

Report by the Irish Times