Exclusive

 

By Sean Moriarty

 

Killarney Outlet Centre could change hands in the next few weeks, the Killarney Advertiser understands.

 

The shopping centre on the lower Park Road has been on the market since 2016. At this time it was expected to fetch €11.5 million but the market and economy changed dramatically since then.

 

Killarney Outlet Centre is owned by Dublin-based Green Property and the sale is been handled by property advisors CBRE.

 

It is understood that a consortium of Killarney-based businessmen have placed a substantial bid for the property.

 

Green Property refused to comment on the finer details of the potential sale but told The Killarney Advertiser that they were negotiating a contract of sale with a buyer and that a sale was “fairly close”.

 

The 8,407 square metre property comprises of 39 retail units with Kerry GAA, Costa Coffee and Nike Sports amongst the tenants occupying the 20 ground floor units.

 

There are  further 18 units on the upper floor along with public toilet facilities and office space.

 

Last November the centre celebrated 20 years in business.

 

“We are for sale, after that I cannot comment,” said Centre Manager Paul Sherry.