DWS acquires €148m Dublin retail park

Westend Retail Park

Green REIT has exchanged on the sale of Westend Retail Park in Dublin to a DWS real estate fund for €147.7m (£129.3m).

The sale of the Blanchardstown retail park which contains 230,742 sq ft of retail space and 71,249 sq ft office space is expected to complete by the end of June. The cash price is slightly above the most recent valuation of €147.1m at 31 December 2017.

Retail tenants of the park include Next, Heatons, New Look, Lidl, Nike and Argos delivering an annual contracted rent of €8.5m. The net proceeds from the sale will be applied in reducing the company’s revolving credit facility ahead of planned further at its Central Park office park in South Dublin and at Horizon Logistics Park adjacent to Dublin Airport.

This is premium content

You must be logged in to view premium stories.

Gated access promo

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

  • Breaking industry news as it happens
  • Expert analysis and comment from industry leaders
  • Unlimited access to all stories, including premium content
  • Full access to all our online archive

To get access to premium content subscribe today

Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts

If you are already a registered user or a subscriber you can SIGN IN now