Case Study
Cashel Town Shopping Centre
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
Cashel Town Shopping Centre is the only purpose-built shopping complex in Cashel built in 2008. The scheme is anchored by a 3,511 sq. m. Tesco and has an overall floor area of 6,537 sq. m. with 342 surface car parking spaces. The retail units are spread over two levels with a dual height galleried area overlooking the lower level where the anchor unit sits under the car park.
In 2016, Davy acquired the shopping centre and appointed Bannon as sole leasing agents to the scheme.
The Skills
On appointment, Bannon implemented a comprehensive leasing strategy to help reposition the scheme, which had been experiencing significantly high levels of vacancy since the schemes development. Bannon worked closely with the client to deliver a retailer mix that matched the catchment. We placed emphasis on targeting retail uses that would complement the grocery anchor and pharmacy.
The first floor was recognised as a challenge to lease in its existing use as retail space. Bannon focused on repurposing the vacant first floor retail space by targeting alternative uses.
The Result
Since our appointment, we have implemented a comprehensive leasing strategy that has successfully reduced vacancy rates, improved the mix of retailers, and increased customer dwell time.
Bannon have attracted a strong mix of operators to the scheme, including Starbucks, Euroworld, and Boston Barbers. Additionally, the first floor, previously difficult to lease as retail space, is now fully let to an office occupier.