Eyre Square centre could fetch 22.5 million euro

Galway Bay fm newsroom – The Eyre Square shopping centre in the city could fetch up to 22.5 million euro when it's offered for sale in the coming weeks. According to the Irish Times, the freehold interest as well as a range of shops and retail units are to be sold off. DTZ Sherry Fitzgerald and DNG Commercial are quoting 22.5 million euro for the controlling interest in the city shopping centre- promising an immediate return of 8.6 percent. The 160 thousand square foot complex is currently owned by Gerry Barrett's Edward Holdings, and is producing rents of over two million euro. Planning permission is in place to replace the entrance off Eyre Sqaure with a new three-storey building which would accommodate five new retail units and a café/restaurant with deck area at first floor level. The shopping centre currently attracts in the region of 185,000 visitors a week. DNG says its expecting a considerable number of offers on the shopping centre due to its prime location and strong financial returns. The post Eyre Square centre could fetch 22.5 million euro appeared first on Galway Bay FM.