Carlow Retail Park – Investment

Property Profile

Carlow Retail Park is a substantial commercial property, located on Hanover Road, a mere 500 meters from Carlow town centre. Developed in 2003, the park consists of nine warehouse units with a combined footprint of 9,166.8 sq m (98,671 sq ft) and 600 car-parking spaces. Anchor tenant Woodie’s, along with seven other tenants, forms the current tenant base.


Our Role

We were tasked with representing a private Irish investor in the ‘off-market’ purchase of Carlow Retail Park from Aviva. In 2018, Carlow Retail Park was acquired by Friends First for €18.05 million. It was then sold for €15.4 million, marking a significant transaction in the Irish commercial property market.



The retail park, with a well-diversified tenant portfolio, is a substantial commercial investment. It currently generates an annual rental income of €1.25 million, offering the new owner a net initial yield of 7.5%.

Once the final vacant unit is let, Carlow Retail Park is poised for further potential income increases. There is over seven acres of undeveloped zoned land that allows the new owners the option to further expansion.


How We Helped

Murphy Mulhall leveraged its industry expertise and contacts with its deep understanding of the market to assist the investor in identifying the opportunity and making an informed purchase decision. We carefully assessed the retail park’s potential and its strategic location near Carlow town centre. Recognizing the opportunity, we facilitated the negotiation process and ensured a seamless transaction over a very short period of exclusivity.



The sale was a successful one, concluding with the private Irish investor acquiring the retail park for €15.4 million. It signifies a promising addition to their portfolio, with a potential for yield increase after the leasing of the final unit.

You can read more about this project in our News. To discuss your investment needs, contact our team today.

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