Parkway Retail Park Sold for 24.3m
The Parkway retail Park is one of Limerick’s Major retail centers and home to the likes of Currys PCWorld, TK Maxx and Homebase to name a few. The retail Park is located on the outscirts of the city and is a popular choice for home improvement shopping
green reit purchased the property back in 2013 for around 14 million and has now exchanged contracts for the sale of the park, the sale is expected to be completed by the end of the March
The sale is to be paid off in two tranches with 1.3 million subject to the securing of a vacent unit which a tenant has been secured.
This contract price reflects a 4.4% uplift on the December 2016 evaluation, and a profit to the company of 74% on the cost of the property