Deerpark Retail Park in Killarney has officially been placed on the market with a guide price in excess of 15.4 million euro, excluding VAT.
International real estate firm Cushman & Wakefield has been appointed as the sole sales agent to handle the high-profile commercial property sale on behalf of its current owner, Investcorp.
Investcorp, a global investment management firm headquartered in Bahrain, had previously acquired the prominent shopping complex.
The sale represents one of the largest commercial property offerings to launch in County Kerry this year.
Located roughly 1.3 kilometres west of Killarney town centre, the scheme enjoys strong regional connectivity and sits adjacent to independently owned operations including a Tesco Extra store, a Tesco petrol filling station, JYSK, and Aldi.
Constructed in 2006, the development extends across approximately 10,482 square metres, or 112,835 square feet.
The scheme comprises a mix of modern retail warehouse units and a complementary neighbourhood centre, offering 13 individual units in total with Part Open and Part Bulky Use planning permission.
The units range in size from 94.6 square metres up to 1,994.9 square metres. Visitors have access to approximately 248 customer parking spaces across the commercial grounds.
The park is currently 100 per cent occupied by a strong line-up of established national and international brands.
Key retail tenants include Marks & Spencer, Boots, DID Electrical, Maxi Zoo, and Mountain Warehouse.
The neighbourhood centre element accommodates service and convenience operators such as Costa Coffee, Card Factory, and Salon B.
The first-floor accommodation is fully let to Peak Performance Academy, which provides additional rental diversification.
Additionally, the scheme benefits from an agreement with Tesla to operate eight electric vehicle charging bays within the customer car park.
Commercial figures show that the property generates a total current rental income of 1,326,458 euro per annum, with a weighted average unexpired lease term of 4.45 years to break options and 6.46 years to lease expiry.
Cushman & Wakefield noted that the quoted guide price of 15.4 million euro reflects a net initial yield of 7.83 per cent, assuming standard purchaser costs of 9.96 per cent.
The selling agents highlighted that the fully occupied asset offers investors an attractive income profile alongside scope for additional income generation through parking commercialisation.