Case Study
Limerick One Retail Park
Leasing Agent
Address
Hambleden House
19-26 Pembroke Street Lower
Dublin 2
D02 WV96
Ireland
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Contact Us
Phone: +353 (1) 6477900
Fax: +353 (1) 6477901
Email: info@bannon.ie
The Task
Bannon became leasing agents on Limerick One Retail Park in 2016. The Park is biggest and best anchored retail park in Limerick, comprises 16 units and extends to 30,000 Sqm. The Park boasts occupiers such as Dunnes Stores, The Range, Boots, EZ Living and Sports Direct. Costa, KFC and Shake Dog make up the F&B offer in the Park.
Bannon were tasked with ensuring strong occupancy over the past 8 years where occupiers like Arcadia and Argos relinquished pace due to bankruptcy and Irish market exit.
The Skills
Bannon brought experience garnered from working on similar schemes and knowledge of retailer requirements to assist the owner’s team to develop a leasing strategy for the scheme. A number of vacancies transpired, and we advised on a strategy of subdivision and transacting with open consent uses.
Bannon identified key target occupiers using the team’s market knowledge and successfully directly targeted use categories that were gaps in the mix, would be complimentary to the existing mix and the catchment the Park serves.
The Result
The Park has successfully traded and has had strong interest from retailers seeking to tap into the significant catchment that the scheme enjoys. Bannon delivered brands such as Pet Stop, Pep & Co, Mountain Warehouse and Shake Dog in the recent past all of whom have confirmed the park trade in the top category of their portfolio of stores throughout the country. A strong electrical brand is close to exchange on the former Argos store and will add an additional draw to the park with another gap in retailer mix complete.