20 Aug 2022

Carlow Retail Park - which boasts stores like Woodies - bought for nearly €17m, reports

Purchase of 15-year-old centre by Friends First

Carlow Carlow Carlow

Carlow Retail Park

Friends First is the new owner of Carlow Retail Park, having bought the 100,000sq ft facility for €16.75 million in an off-market deal, the Irish Times has reported. 

The company already controls Kilkenny Retail Park and The Globe in Naas. It also purchased Citypoint in Galway a few weeks ago.

Carlow Retail Park first opened in 2003 and produces a rental income of €1.412 million.

The anchor tenant, Woodie’s, pays a rent of €577,500 for a store extending to 3,437sq m (37,000sq ft) and a garden centre with a further 2,043sq m (22,000sq ft), according to the Irish Times. 

Other tenants include Harry Corry, Halfords, Carpetright, Homestore and Pet Mania.

The retail park is located at Hanover Road, about 500m southeast of the town centre.

Claire Solon, head of property at Friends First, told the Irish Times that the company had experienced continued rental growth in the retail park market.

Although the fund is predominantly Dublin-based, she added, there have been regional opportunities and the retail park fitted well with Friends First’s existing portfolio.

The Carlow deal was brokered by Robert Murphy of Murphy Mulhall on behalf of the vendor while Michele Jackson of TWM acted for Friends First. 

To continue reading this article for FREE,
please kindly register and/or log in.

Registration is absolutely 100% FREE and will help us personalise your experience on our sites. You can also sign up to our carefully curated newsletter(s) to keep up to date with your latest local news!

Register / Login

Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.

Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.