Great news for the Citywest community. The nationwide restaurant chain, Camile Thai Kitchen has chosen Citywest Shopping Centre for its latest location.
As property managers and letting agents for the centre, we wish Camile the very best of luck as they create new jobs for the local area and become part of this thriving scheme.
EZ Living Interiors have opened their fifteenth Irish store at The Retail Park Liffey Valley. The store, which adds to an already impressive retailer line up in the park, is home to over 100 sofa collections, 50 dining sets, 50 bedroom ranges and a divine collection of home accessories, with everything from the timeless to the trendy. With an array of furniture designed and manufactured locally in Ireland, the Irish-owned family business is passionate about supporting Irish jobs, skill and craftmanship.
Bannon are proud to act as Asset Manager, Property Management Agents and Lettings Agents for the scheme.
A very exciting site visit earlier this week for Bannon’s Consultancy Team with Quintain Ireland at The Crossings, Adamstown where Tesco Ireland and Aldi Ireland are fitting out their new stores. Bannon are delighted to be appointed as Management and Lettings Agents for The Crossings, which upon completion will be the first new Irish shopping scheme delivered in over a decade.
For letting enquiries, please contact Darren Peavoy.
Pret A Manger opened their first store in Ireland on Friday. Located on Dawson Street, Dublin 2 the store had a busy morning and we managed to visit between that and the lunchtime rush to get a full tour. The Pret a Manger team are so impressive in terms of their approach to quality and attention to detail.
This will no doubt be a great success and we are proud to be part of the team bringing the brand to Ireland.
Another fantastic addition to the Tenant mix at Marshes Shopping Centre diversifying and complementing the existing offer.
Best of luck Thérapie Clinic.
The Bannon Retail team is acquiring stores on behalf of national and international retailers with a variety of use categories including Card Factory, Lush, Pret A Manager, Eason, Jump Juice Bars, Matt Britton, McCabes Pharmacy, Tuthills, Gino’s and L’Ombre Hair & Beauty. As part of our work, we advise them on their rollout strategy across Ireland.
On meeting a potential acquisition client, we study the retailer to understand their brand placement and their customer profile. This together with other research allows us to accurately assess where best to locate them.
We secured the acquisition instruction for Smiggle (the Australian go to brand for school, lifestyle and stationery products) and by way of a sample case study we set out below the service provided and our contribution to a successful store roll out.
The Brief:
On successfully pitching our acquisition services, our brief from Smiggle was to provide a full service in identifying new store locations and negotiating lease terms on their behalf.
Stage 1:
Smiggle was a new entrant to Ireland. We began by educating them on the current economic climate, the retail market within Ireland and the retail hierarchy across the country. Leasing structures in Australia are quite different to those commonly used in Ireland. We prepared a detailed presentation on the standard leasing terms in Ireland to include lease length, owner and occupier renewal rights, upwards downwards rent reviews, break options and sub-letting terms. We also assisted them in securing a legal team to represent the company in Ireland.
Stage 2:
Understanding the retailer’s model, we used our expertise to advise where their initial focus should be placed for unit acquisition. We completed a table of target locations and collated an individual pack on each detailing footfall, scheme size, current retailers, available units and sample costs. We toured the Country with them and agreed the target towns and cities where they wished to secure representation.
Stage 3:
We began searching for suitable available units within the agreed target locations. We commenced negotiations and proceeded to agree rental terms, tenant incentives, lease structure, break options and additional tenant specific requirements. On finalising terms, we assisted the legal team in bringing the lettings to lease signing. We assisted them in appointing a fit-out contractor and liaised with the team to provide unit plans and the technical information required to prepare fit out drawings for owner approval.
Outcome
Smiggle saw a stronger opening in Ireland than in any other territory they trade in. The conclusion to the roll out strategy saw the opening of stores in Dundrum Town Centre, Blanchardstown Town Centre, Swords Pavilions, Ilac Centre, Mahon Point Shopping Centre, Crescent Shopping Centre and Winthrop Street in Cork.
Based on our understanding of the market and the Smiggle brand, our advice was an initial roll out of 5-10 store openings. We achieved this target, and the occupier was extremely pleased with our seamless acquisition strategy and the stores secured.
The Bannon Retail team specialises in both owner and occupier representation nationwide. We complete on average c. 170 retail transactions per year. Understanding the market is key whilst advising both owners and occupiers across their portfolio. We collect over 250 pieces of turnover data weekly/monthly, and we use this data and experience to maintain insight as the leading advisors to the retail market across the country.
Author: Jennifer Mulholland, Divisional Director, Bannon
Date: 15th June 2022
Bannon is delighted to have been part of a very successful launch today of 112/113 Grafton Street. A superb retail building redeveloped to the highest standard by Irish Life Investment Managers. 13,000 sqft of top quality space now available through Bannon and joint agent Savills.
Premium fashion group Flannels has signed a deal for its second Dublin store.
Having committed earlier this year to occupy half the retail space at the Clerys Quarter on O’Connell Street, the luxury retailer is to open for business at the Blanchardstown Centre.
Flannels, which is part of Mike Ashley’s Frasers Group, will occupy the ground floor of the former Debenhams unit. At 45,000sq ft, the space will be the larger of the two outlets committed to by the retailer in the Irish market to date. Flannels’ premises at the redeveloped Clerys store will extend to 30,000sq ft.
Commenting on the opening of the latest store, a spokesperson for Frasers Group said: “We’re excited to open Flannels in Blanchardstown and bring a world-class shopping experience to a new destination. Our ambitious expansion plans mark a pivotal moment for the business, and we’re pleased to be opening in Blanchardstown as part of our next cohort of store openings in Ireland.”
Pat Nash, managing director at the west Dublin retail scheme’s asset manager Falcon AM, added: “Flannels’ commitment to a new lease in Blanchardstown Centre is a huge endorsement of the scheme and follows the completion of a major €17 million mall refurbishment. This is in line with our ongoing strategy to strengthen and reposition the asset . We are excited to be welcoming new retailers to the centre and indeed the Irish market during these unpredictable times.”
Falcon AM made the decision to split the Debenhams’ unit, which comprises more than 100,000sq ft in its entirety, to meet with current retailer demand according to the firm’s leasing director, Sharon Walsh. Ms Walsh said that a further announcement will be made in relation to the upper level of Debenhams’ former premises in the coming weeks.
BNP Paribas Real Estate and Bannon are the joint leasing agents for the Blanchardstown Centre.
