German company seeking to buy Whitewater Shopping Centre

A German company is understood to have offered over €170 million for  Whitewater Shopping Centre in Newbridge.

Deka already owns the Tommy Hilfiger store on Dublin’s Grafton Street which it bought in 2009 for €23 million. It previously acquired Mahon Point shopping centre in Cork for €250 million.

Whitewater generates a net operating income of around €11.7m per annum. Of this, 87% is produced by the shopping centre tenants and the remainder is from the car park and residential units.