IT has been a landmark in Killarney since 1998 but Killarney Outlet Centre has now been offered for sale, by private treaty, by property advisors CBRE.
The prominent 8,407sq m retail building in the centre of Killarney town is producing a rental income of approximately €1 million per annum and it is expected to generate enormous interest, locally, nationally and internationally.
Killarney Outlet Centre It occupies a high-profile corner site adjacent to Killarney Bus Station and Killarney Railway Station is also situated adjacent to the scheme and the building is highly accessible, with two entrance points at opposite sides of the centre.
Vehicular access to is off Fairhill, a busy thoroughfare leading into town, and there are 230 car spaces on the site which extends to 5.14 acres.
The centre is in a prime position to benefit from the high volume of tourist activity in the town and the diverse retail offering in the scheme also attracts a family customer base which is evidenced by the centres footfall peaking during the traditional school breaks.
Killarney Outlet Centre comprises 39 retail units laid out over ground and first floor level. The ground floor is majority occupied by a high quality tenant mix featuring well known national and international brands, anchored by a 678sq m Nike factory outlet.
Additional tenants include Claire’s Accessories, Holland and Barrett, Tiger, The Works and Pavers. The centre benefits from having popular food and beverage retailers, Costa Coffee and O’Brien’s Sandwich Bar trading from the ground and first floor levels.
Killarney Outlet Centre offers significant potential for rental growth which can be achieved through active asset management and there is opportunity to improve the overall tenant mix and increase rental income through letting of vacant space
Fiona Kennedy of CBRE commented: “It presents an opportunity to purchase a key piece of real estate in the thriving town of Killarney. The centre has performed exceptionally well in recent years attracting high quality retailers and further asset management will allow Killarney Outlet to reach its full potential.”
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