The Eyre Square shopping center in Galway has been sold by the real estate company Colliers for 9.75 million euros.
The buyer has not been disclosed, but the center is understood to have been purchased by a private fund managed by Davy Real Estate.
It was put on the market by the current Marathon owners in August of last year, guiding 12.76 million euros.
“The opportunity sparked strong interest from investors, predominantly domestic, given the attractive yield and high profile of the Eyre Square shopping centre,” said Michele McGarry, Colliers Capital Markets.
Developed by McInerneys in 1991, the mall consists of more than 70 retail units and kiosks with around 270,000 visitors a week.
Penneys and Dunnes Stores are anchor tenants on the premises, along with a range of other local and international retailers.
The sale includes eight retail units, with tenants including JD Sports, Great Outdoors, Specsavers, Diesel, Starbucks and Vero Moda, as well as two vacant units.
It also includes control of the center along with the freehold common area units.
The center also has direct access to 450 parking spaces in the Eyre Square car park.
Marathon spent significant funds renovating the building over the course of its ownership.