Case Study
Dundalk Retail Park, Co. Louth
Background
Location: Dundalk, Co Louth
Sector: Retail Park
Size: 253,445 sq ft
Year Acquired: 2022
Positioned approximately 3km from Dundalk Town Centre, in a high-profile location, Dundalk Retail Park is situated along the N52 at Marshes Upper, with access to the M1 motorway.
The modern retail warehouse scheme is anchored by Woodies DIY and comprises approximately 248,427 sq ft of retail warehouse space across 20 units. Additional retailers include Currys, Halfords, Heatons, Smyths Toys and Home Store + More. The scheme also features an Omniplex, as well as an Applegreen Service Station spanning 5,018 sq ft.
What We Did
Dundalk Retail Park is strategically located between Dublin and Belfast, offering a gateway between Ireland’s two largest cities.
We recognised its huge potential when it made its way to market, and purchased Dundalk Retail Park in December 2022 for €25 million.
We oversaw significant capital investment at the site. We also managed planning appeals and appointed specialist partners, as necessary.
The Results
Having invested substantially in the property, we agreed a 25-year lease for Unit 14 (over 10,000 sq ft) to EZ Living in early 2025.
The unit had previously been occupied by Argos, who surrendered their lease in September 2024 following the group’s exit from the Irish market. Within four months, we had agreed the lease with EZ Living, bringing Dundalk Retail Park back to 100% occupancy.
Having purchased the development for €25 million in 2022, we received an offer of €36.1 million in late 2024. The property is now worth circa €40+ million.