Goldman Sachs buys Arklow shopping centre and office block
Competition regulator clears €33.25m Bridgewater purchase by merchant bank
Bridgewater Shopping Centre, Arklow, Co Wicklow: tenants include Dunnes Stores, Argos and River Island, with a rental income of €2.9 million a year
Goldman subsidiary ELQ Investors II agreed to buy the centre and Brunel House last month from North Quay Developments, whose backers include Killultagh Estates and Allen & Smyth Properties.
The deal’s size meant it required the approval of the State’s mergers regulator, the Competition and Consumer Protection Commission’s (CCPC), before it could go ahead.
The commission said yesterday that it had cleared the sale on the grounds that it would not lessen competition in any market for goods and services in the State.
New York-based Goldman is one of a number of investors which have been buying properties in the Republic since its economy began recovering over the last four years.