Analysis: Why did Goldman Sachs buy Blanchardstown Shopping Centre?
A tough retail environment, including strong competition and the rise of online shopping, awaits but the bank will still expect a return on its investment
The Blanchardstown shopping centre has always played a supporting act to the flashier Dundrum Town Centre in south Dublin. When Blanchardstown was built it was initially bigger. Dundrum, by contrast, had the bigger retail names in Harvey Nichols and House of Fraser – Blanchardstown was seen as a place to shop, Dundrum the place to go for an experience. It was reflected in the price investors were willing to pay for the assets.
When Dundrum ...