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Deerpark Retail Park up for sale

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By Michelle Crean

Killarney's popular Deerpark Retail Park has been put up for sale as part of a collection of three Irish retail parks - with a guide price excess of €67.5 million.

Tenants will not be affected as property advisors CBRE offer The Cobalt Collection - which includes Letterkenny Retail Park, Co. Donegal and Tullamore Retail Park in Co Offaly, for sale by Private Treaty.

The entire collection is producing a stable rent roll of €6,475,000 per annum.

The tenant mix is diversified, not reliant on any one retail use and has an impressive combination of national and international brands including anchor tenants, Woodies DIY, TK Maxx, Homebase and M&S.

Retail Parks have proven to be a resilient asset class out preforming all other retail sub-sectors over the course of the pandemic. This is due to their deemed “essential use” class which were not subject to Government closures coupled with open air surface car parking and large open space configuration. The Irish retail park sub-sector is increasingly sought after by investors, as it is considered stable and a good prospect in the low current interest environment and in comparison, to the lower returns prevailing in other sectors, according to CBRE.

Deerpark Retail Park

Deerpark comprises of 13 retail units extending to approximately 11,342 sqm and is the leading retail park in Killarney, occupying a pivotal location on the western side of the town centre.

Its anchored by Marks & Spencer and EZ Living and provides a mix of bulky and open use occupiers to an extensive catchment area. Additional tenants include New Look, Argos, Boots and Costa Coffee. Its total net operating income is approx. €1.30m per annum.

“We anticipate strong interest for The Cobalt Collection," Selling Agent, Paddy Farrelly, Capital Markets Division, CBRE said.

"From an occupational perspective, retail parks have proven themselves extremely resilient through retail market challenges and having just come through one of the most significant challenges in the sector, it is hard to ignore the opportunity and return profile on offer in the sub-sector.
The Cobalt Collection is a notable example of this resilience at an individual asset level. It offers an incoming investor scale, diversified income and stability in the sector as a portfolio. Each scheme's individual performance is exceptional, serving as prominent retail hubs within their catchment areas.”

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Volunteers wanted for street collection

By Michelle Crean October is Breast Cancer Awareness Month and local volunteers are keen to not only raise awareness but also funds. Kathrina Breen, Eleanor O’Doherty and Kathleen O’Shea who […]

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By Michelle Crean

October is Breast Cancer Awareness Month and local volunteers are keen to not only raise awareness but also funds.

Kathrina Breen, Eleanor O’Doherty and Kathleen O’Shea who have been supporting the Irish Cancer Society for many years are delighted to be able to get back to their Pink Ribbon street collection in Killarney town next Friday (October 7).

They are the only group in the country doing the collection as many fundraisers have moved online since the pandemic struck.

“We’re the only town in Ireland doing it this year,” Kathrina, who feels it’s important to keep a street collection going, told the Killarney Advertiser.

“We haven’t done it in two years since before COVID. I pushed to do it as it raises a lot of money. People have been supporting this for years, this money goes towards breast detection equipment, information leaflets in doctors surgeries and towards cancer grants.”

In 2021, donations helped 254 breast cancer patients with free transport to and from 2,380 chemotherapy appointments by volunteer drivers, 154 patients received 514 nights of end-of-life care from Night Nurses and 3,430 enquiries were made about breast cancer through the Freephone Support Line 1800 200 700 and at 13 Daffodil Centres across the country.

And she added that they’re looking for a few volunteers to help out on the day.

“If anyone would like to help they can contact me on 087 2612992.”

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Calls for Council to acquire vacant Rock Road properties

By Sean Moriarty There are calls to make two vacant properties on Rock Road available to Kerry County Council’s housing inventory. The two cottages, one either side of the entrance […]

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By Sean Moriarty

There are calls to make two vacant properties on Rock Road available to Kerry County Council’s housing inventory.

The two cottages, one either side of the entrance to St Finan’s Hospital, are vacant for some time.
Cllr Maura Healy-Rae raised the issue at a recent Killarney Municipal District meeting.

“Regarding two vacant houses at the entrance to St Finan’s on Rock Road which appear to be vacant for a significant period of time. One of the properties is in the ownership of the HSE. I requested that Kerry County Council would liaise with the HSE with a view to potentially acquiring this house,” she told the Killarney Advertiser after the meeting.

“I stressed that it is important that the local authority exhaust all possibilities when it comes to providing more houses, particularly properties located within the town of Killarney where the need and demand for housing is critical.”

Kerry County Council said it would get the Vacant Homes Officer to contact the owner of the privately owned bungalow.

“They will inform the property owner that there is funding available under various schemes and grants to aid the return of this property to habitable use. Such schemes include the Repair and Lease Scheme and the recently launched Croí Cónaithe vacant property grant,” said a Council official.

Cllr Healy-Rae added: “I requested that KCC would liaise with the HSE with a view to potentially acquiring this house.”

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