Carlow’s Sandhills centre for €4m

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.