Commercial Property

Colm Lauder: Footfall figures in Irish shopping centres give Christmas cheer to investors

Investment in retail centres has been negligible for the last decade but well-known wealth managers have been tempted into the market

Goldman Sachs bought Blanchardstown Shopping Centre in Dublin from Blackstone, the US investment fund, for an estimated €750 million in December 2020

Shopping centre investment property, for a long time a jewel in any respectable fund managers portfolio, has long faded as a precious stone. But well-managed centres continue to deliver inflation busting income returns, and the Irish occupier market is a top performer with strong footfall and consumer sales. Next year is also expected to see some of the strongest deal flow in over a decade, so are we finally close to a turnaround in capital ...