Hines and Davy vie for Stephen’s Green Shopping Centre majority stake

Businessman Pierce Molony and Madison seeking €130m for 62.4% shareholding

  St Stephen’s Green Shopping Centre, Dublin,   is currently producing rental income of about €8 million. Photograph:   Alan Betson

St Stephen’s Green Shopping Centre, Dublin, is currently producing rental income of about €8 million. Photograph: Alan Betson

US-headquartered real estate giant Hines, a fund managed by Davy Real Estate, and a private investor acting in partnership with developer Eamon Duignan are understood to be among the parties looking to secure ownership of two separate shareholdings amounting to a 62.4 per cent stake in Dublin’s St Stephen’s Green Shopping Centre.

While the majority stake was offered for sale quietly in a targeted process by HWBC in June at a guide price of €130 million, it is understood that the offers received in the first round of bidding may have fallen short of this figure.

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