This year will see an unprecedented level of activity within the Irish retail property investment market. Sigma Retail Partners has carried out extensive research in respect of the major retail assets throughout Ireland and estimates that over 50% of these assets are in what it describes as transient ownership. Many of the shopping centres and retail parks, which were built in Ireland in recent years, are or will soon be prepared for sale.
Sigma Retail Partners' Managing Director, Marcus Wren, said 'while owners, receivers and banks should take advantage of the current demand for retail assets care needs to be taken prior to releasing major retail assets to the market. Expert advice should be sought to ensure the assets are actually ready for sale, will be presented to the market correctly and that sufficient information is provided in a secure manner to potential purchasers in order to achieve the best possible outcome.'
Prior to releasing, for example, a shopping centre for sale, consideration should be given to what other assets are likely to be released to the market at the same time and it is important to understand the dynamics of each so that owners and banks can differentiate their assets and highlighting their unique qualities.
Equally, incoming purchasers who may be unfamiliar with the individual characteristics of certain catchments and assets will require expert guidance prior to investing to ensure that they can meet their expected investor returns. Once investors have purchased a retail asset they will need ongoing advice to ensure the asset performs to its maximum potential throughout the investment period.