GRE sells stake in Letterkenny centre

GUARDIAN Royal Exchange has sold its remaining stake in the Courtyard Shopping Centre in Letterkenny, Co Donegal, for slightly…

GUARDIAN Royal Exchange has sold its remaining stake in the Courtyard Shopping Centre in Letterkenny, Co Donegal, for slightly more than £3 million. The company's holding has been acquired by the joint developers, auctioneers Mr Paul and Mr Joe Reynolds, and a Buncrana builder Mr Michael Hegarty. They are now planning to sell on their interests in the centre which is located in a tax designated area. The owners say that the present rent roll of £470,000 per annum could reach £700,000 if tenants were found for 20 per cent of the space still available.