Invesco's Frascati Centre Set To Return To Market For €80M

Why It Matters

The transaction highlights the growing appetite for high‑quality, mixed‑use assets in affluent Dublin and offers investors a platform with stable cash flow and upside development potential.

Key Takeaways

• Guide price €75‑80M (~$81‑86M) after €98M total investment
• Rent roll €6.9M (~$7.4M) with 60% from grocery anchors
• 42 apartments generate €1.5M (~$1.6M) annual income
• Planning permission secured for 123 additional rental apartments
• Cushman & Wakefield and Eastdil Secured lead sale process

Pulse Analysis

Dublin’s retail landscape has been reshaped by mixed‑use developments that blend shopping, living and leisure, and the Frascati Centre exemplifies this trend. Originally a single‑storey mall owned by the Roche family, Invesco’s 2015 acquisition and subsequent €30 million overhaul turned the site into a 220,000‑square‑foot town‑centre anchored by Marks & Spencer and Aldi. The strategic location in Blackrock, one of Dublin’s most affluent suburbs, has attracted premium tenants and sustained high foot traffic, positioning the asset as a benchmark for urban regeneration projects across Ireland.

Financially, the centre delivers a robust rent roll of €6.9 million (roughly $7.4 million) annually, with retail contributing €5.4 million and residential units adding €1.5 million. The grocery anchors alone account for more than 60% of revenue, providing a defensive cash flow amid volatile retail trends. Occupancy rates remain high, and the 42 residential apartments are fully leased, underscoring the appeal of integrated living‑work environments. For investors, the asset’s stable income stream and diversified tenant mix mitigate sector‑specific risks while delivering attractive yields in a low‑interest-rate environment.

Looking ahead, the Frascati Centre’s upside lies in its approved plan for an additional 123 rental apartments, a move that could significantly boost the property’s income profile and asset value. The upcoming sale, guided by Cushman & Wakefield and Eastdil Secured, signals Invesco’s willingness to monetize mature assets and redeploy capital into higher‑growth opportunities. As Dublin’s housing shortage intensifies, developers and institutional buyers are likely to view the site as a rare chance to acquire a fully‑leveraged, income‑producing platform with clear expansion potential, reinforcing the city’s status as a hotbed for real‑estate investment.