The final section of The Park retail development near Dublin has gone on sale for a guide price of €45 mln.

The final section of The Park retail development near Dublin has gone on sale for a guide price of €45 mln.

Savills has been instructed to sell the 5.8-hectare site at Carrickmines in one or two lots. The larger lot has a net retail floor space cap of 6,000 m2 and options to develop retail warehousing and a multiplex cinema, while the smaller site located close to the M50 motorway junction has potential to serve as a filling station or car showroom.

Research by Savills indicates that retail is rebounding strongly in Dublin, where disposable income is on average 20% higher than in the rest of Ireland and consumer confidence is at its highest recorded level since 2007.

Mark Reynolds, director of development, agency and consultancy at Savills Ireland, said: ‘These lands hold significant value either in the hands of a retail owner occupier or a specialised retail or mixed use developer. A buyer with credibility around providing a cutting edge scheme can add significant value by expanding the scale and success of the existing retail and business park campus, at a time of a resurgent occupier market.’

All the existing space at The Park is fully let, with tenants including PC World, Tk Maxx, Harvey Norman and Carphone Warehouse.