M Core acquires Cork’s Opera Lane for up to €30 million

Pan‑European property investor M Core has bought Opera Lane, Cork city’s first purpose‑built shopping street, in a deal valued between €20 million and €30 million.

The transaction, completed earlier this year, marks M Core’s second Irish acquisition following its 2025 purchase of the Arena Centre in Tallaght for a reported €35 million. The investor took over the mixed‑use scheme from London‑based private‑equity firm Henderson Park and pledged to support existing retailers, enhance the customer experience and keep the lane central to Cork city life.

Opera Lane comprises a 107,251 sq ft (9.96 sq m) open‑air retail development with 12 units along a pedestrianised thoroughfare linking St Patrick’s Street to Emmet Place, adjacent to the Crawford Art Gallery’s €93 million redevelopment. Developed by O’Callaghan Properties in the mid‑2000s, the site was marketed in February 2023 with a guide price of €26.75 million.

The lane hosts a strong tenant mix, including Tommy Hilfiger, Next, Specsavers, H&M, Victoria’s Secret and Bath & Body Works. A former New Look unit remains vacant, with Savills reportedly in early talks with a replacement retailer.

M Core, active in seven countries, added the Cork asset to a busy year that saw retail purchases across Britain, an entry into Italy with four retail sites for about €300 million, and a portfolio of roughly €6 billion in assets.

Source: Irish Examiner. Photo: Craig Adderley / Pexels.