Carlow’s Sandhills centre for €4m

Sandhills has eight ground floor retail units and a restaurant at first floor level

Sandhills: overall rent roll of €427,900
Sandhills: overall rent roll of €427,900

The eight-year-old Sandhills Shopping Centre at Hacketstown Road in Carlow town goes on sale from today at about €4 million, offering new owners a net initial yield of 10.2 per cent. The busy complex is located off the N80 bypass in a heavily developed residential area, less than two kilometres from the town centre.

Sandhills has eight ground floor retail units and a restaurant at first floor level, all fully occupied and with an overall floor area of 2,532 sq m (27,260 sq ft). The traders include SuperValu, Crotty’s Bakery and BoyleSports, who contribute to the overall rent roll of €427,900.

Michele McGarry of Colliers International, who are handling the sale, described Sandhills as a busy neighbourhood centre with a good tenant mix and long unexpired leases. She said the investment would appeal to someone looking for an easily managed retail portfolio.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times