In 2025, one of the standout outperformances in Irish commercial property came from the sale of the Trinity Collection, comprising three retail parks in Clonmel, Drogheda and Belgard Road. The portfolio sold in the second quarter for €123.5 million, a 67 per cent premium on the €74.1 million paid in the final quarter of 2021, just three and a half years earlier.
While MSCI’s capital growth index shows all retail assets declined by 16.8 per cent and the broader market fell 22 per cent over the same period, the Trinity story was different. It illustrates how a clear understanding of market fundamentals, paired with targeted asset management, can drive exceptional returns.
Before this was broadly recognised, some investors had identified that Irish retail parks were trading near full occupancy and had shown resilience throughout the Covid-19 pandemic. With limited new supply, constrained by construction costs exceeding achievable rents, and national occupancy aro
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