LEGO to open first Irish store in Dublin this summer

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LEGO is to open its first ever store in Ireland with the new store set to open in Dublin’s Grafton Street this summer.

The new Dublin LEGO store will feature the “Retailtainment” concept which blends physical and digital experiences that allow shoppers to immerse themselves in the LEGO brick, as well as create personalised products.

About 10 to 15 jobs will be created when the new store opens.

Simone Sweeney, Vice President of Global LEGO Retail Development, said the company had been looking for the perfect site in Dublin, so it was very excited when the opportunity came about to open on Grafton Street.

“The new LEGO Store will be amongst some of the biggest and best brands in Dublin, in a shopping district loved by many local families and visitors alike,” Ms Sweeney said.

She said that Dublin has been part of LEGO Retail’s expansion strategy for many years given the existing huge number of LEGO Fans in Ireland and the international customers typically found in the city.

“The new LEGO Store in Dublin will allow builders of all ages to be inspired by endless play possibilities and for new builders to welcome them into a new exciting journey of discovery into the LEGO universe,” she added.

The new LEGO store will be housed at number 41 Grafton Street – the former Topman store – in a building which is owned by Irish Life Investment Managers.

The deal was negotiated on behalf of Irish Life Investment Managers by Savills Ireland and Bannon.

The LEGO Group was founded in Denmark in 1932 by Ole Kirk Kristiansen and its name derived from the two Danish words LEg GOdt, which mean “Play Well”.

Today, the LEGO Group remains a family-owned company headquartered in Billund in Denmark and its products are now sold in more than 140 countries worldwide.

Article by RTE News 

Regatta Great Outdoors store is now open in Nutgrove Shopping Centre

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We’re delighted to see the new Regatta Great Outdoors store open in Nutgrove Shopping Centre, Dublin 14.

This was our first acquisition on behalf of our new client Regatta Ltd.

The super smart looking store, which will also incorporate Craghoppers and Dare 2b products, will serve the catchment well and the strong customer base who are embracing the outdoors even more since the arrival of Covid.

It was a great team effort to get the store open and ready for Black Friday and the run into Christmas, working with Brian Fox and the Regatta Team and Andrew Johnston.

We are continuing to look for more opportunities countrywide.

Investors follow footfall into retail parks as high street shuts up shop

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Covid-19 has flipped the performance of retail assets on their head. The previously-held view was that the prime to tertiary hierarchy was – city high street, major town centre, retail park, grocery retail and local necessity centres. However, in terms of demand and performance from the occupiers on the ground, this traditional hierarchy has now been reversed and is resulting in differentiation within a sector previously considered by many investors as a homogeneous entity.

Footfall

Footfall is a very effective barometer to highlight this shift. High street has undoubtedly been the most negatively impacted retail market sector with Covid-19 decimating footfall and in-shop spend. Bannon estimates that there are almost 40 shops either vacant or available on Grafton Street and Henry/Mary Street out of a total of 162. Similarly the hospitality sector, including food and beverage, like non-essential retail, has been severely impacted during Covid-19. Despite a strong recovery city centre footfall counts for Q3 2021 were still 30 per cent below 2019 levels. According to the IPD Index year-on-year total returns within the sector are showing minus 12.5 per cent.

In stark contrast the necessity retail sector (being grocery, medical and service-related offers) as well the retail parks have proved to be exceptionally resilient through Covid and continue to perform very strongly. Car counts in many retail parks for Q2 and Q3 2021 exceeded 2019 levels with retailers reporting considerable turnover growth. Provincially convenience-focused shopping centres have remained resilient with limited vacancy as shoppers choose convenience and to shop locally. We are seeing footfall levels return by up to 90 per cent of their 2019 equivalents.

In the latter half of 2021 the ‘money’ began to follow the data into retail parks as is evidenced by the position taken by AM Alpha in Nutgove Retail Park (€66.3 million) and M&G Investments through the acquisition of the Parks Collection Portfolio (€74.5 million) and the agreed acquisition of Manor West (€56 million). We estimate retail parks transactions will represent more than two thirds of all retail transactions in 2021 and will be the only retail sector within the IPD showing positive total returns for 2021 (currently running at plus 6.3 per cent).

Inflation

Supported largely by the threat of inflation, the resurgence in the retail grocery sector had already commenced pre-Covid in the UK and Europe, with long-let standalone grocery often trading at yield levels of between 4 and 5 per cent. This demand is beginning to emerge in the Irish market, with a shrinking gap between what the sector is trading at in the UK and the perceived value in Ireland. More recently we have seen a number of transactions which are at materially stronger yield levels than market expectation and these are due to sign before the end of the year.

Due to the structural limitations in scalability in the “grocery market” sector in Ireland (where most anchor stores are owner occupied) and the large delta which is developing between “pure grocery retail” and “necessity retail” (being service, health, medical and food-related occupiers) this sub-sector may come into more mainstream investment focus in 2022. The disconnect between the emerging grocery yields (5 per cent to 5.5 per cent) and those in the supporting “necessity retail” (9 to 10 per cent plus) seem irrationally high, especially as the necessity retail operator’s turnover is derived from the same customer base as their high-value grocery anchor neighbours. These centres along with retail parks serve to highlight opportunity within the sector where the negative narrative in the overall retail sector is keeping yields high despite resilient trading.

Rod Nowlan is an executive director at Bannon

Article by The Irish Times 

Boojum is now open in Blanchardstown Centre

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Another great brand coming to Blanchardstown Centre. The addition of Boojum will bring a boost to the F&B offering of the centre and the catchment. It was great working with Sharon Walsh, Andrew McPhail and Gareth Shiells on the letting with discussions commencing pre-Covid and taking a few twists and turns before agreeing this super new store. Congratulations on the opening and we wish you the best of luck.

FitPink is now open in Blanchardstown Centre

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We often rush to welcome international brands to Irish high streets and shopping centres, potentially overlooking the quality of home grown indigenous brands. With that in mind, its great to have been involved in bringing Donegal originated FitPink Athleisure to Blanchardstown Centre.
This is the first physical store for FitPink in Rep of Ireland which no doubt will go from strength to strength, capturing the move to active lifestyles which people have embraced over the last 2 years. Best of luck to Jenni Timony and her team in the new venture and hopefully we will see some more stores opening around the country in 2022.

Costa Coffee is now open in The Retail Park Liffey Valley

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Bannon are delighted to announce the opening of Costa Coffee at The Retail Park Liffey Valley in their new bespoke coffee pod.

SOSU, POCO and Walker & Hunt Opening in Blanchardstown Centre

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Great to see a host of new store openings in Blanchardstown Centre with three very exciting brands, SOSU by Suzanne Jackson, POCO By Pippa and Walker & Hunt being the latest additions to the ever-growing Tenant mix in the run-up to the Christmas trading period.
Bannon are pleased to be involved in the leasing of Blanchardstown Centre which has continued to show great resilience as a shopping destination throughout all of the challenges faced over the past 19 months. We are also excited to watch the centre go from strength to strength once the ongoing mall redevelopment is complete.

Pink is now Open on South William Street

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South William Street is getting a blast of colour with the new Oliver Dunne restaurant Pink, which opened its doors yesterday.

This deal started as we entered lockdown 2021 and it showed the belief that a seasoned and experienced operator has in Dublin City Centre trade.

It was a pleasure negotiating the deal on behalf of the landlord and wishing the team in Pink all the best of success for the future.

First Sky Store in Ireland Coming Soon to Blanchardstown Centre

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Another first for Blanchardstown Centre and part of a run of some exciting announcements for the scheme. Having the first Sky Store in Ireland will bring some interesting animation and events to the centre.

We are delighted to have advised Falcon AM and Blanchardstown Centre on this letting working with Eoin Feeney on the successful deal.

Starbucks open state-of-the-art coffee pod at Naas Retail Park

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After a highly anticipated wait, coffee lovers in the Naas and surrounding areas finally get to see Starbucks open in Naas Retail Park. It is a state-of-the-art 2,500 sq. ft coffee pod with in-store seating as well as a customer collection drive-thru lane for customers who want to grab a coffee on the go. There are also three e-charging car park spaces located at the front of the store for the charging of electric vehicles.

Arguably the most famous coffee company in the world, Starbucks was founded in 1971 in Seattle and currently has more than 15,000 stores in over 50 countries. This will be Starbucks 105th store in Ireland and their third store in County Kildare.

The new opening of Starbucks is a wonderful addition to the strong line-up of retailers currently in Naas Retail Park. At present the retail park is home to Harvey Norman, B&Q, JYSK, Carpet Right, Choice, Currys PC World, Halfords and Right Price Tiles.

Paddy O’Connor from Sigma Retail Partners is the Asset Manager for Naas Retail Park, said “From the outset we have always seen the requirement for a coffee offering at the retail park, therefore we are more than delighted to have such a strong brand like Starbucks joining our tenants in the park. There has been a lot of excitement about Starbucks opening ever since construction begun and we are so pleased to finally see it materialise.”

Naas Retail Park is located off junction 10 of the N7 and is just ten minutes from Naas Town Centre. The retail park offers ample free customer car parking too. It also has a GoCargo van for hire on-site that can be booked by the hour or day via the GoCar app or website, to conveniently transport bulkier purchases home.

Article by Sigma Retail Partners 

It’s Official: Penneys arrives to The Square Town Centre

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Penneys will bring its ‘Amazing Fashion at Amazing Prices’ to The Square Town Centre as the much-loved iconic Irish retailer announces that a new Penneys store will open at the centre, marking the continued expansion of the brand in Ireland. The new store will provide a huge boost to the local economy and create 300 new jobs for the community, with doors opening to customers next year.

The new store will be located on the ground floor of The Square Town Centre and will boast 43,000 sq ft of retail space which will feature Penneys’ famous affordable fashion favourites, including the latest seasonal trends along with everyday must-haves for everyone. The much-anticipated arrival of Penneys to The Square Town Centre will mark the retailer’s 37th store in Ireland; a significant milestone for the company that operates in over 395 locations across Europe and North America.

Damien O’Neill, Head of Sales, Penneys ROI, said; “We are really excited to confirm the opening of our new store in Tallaght next year. Penneys is iconic in Ireland; we have a strong presence in Dublin and across Ireland, and it’s really important to us when opening any new store, that we do so in the right location. We couldn’t wish for a better location for our next store in our home market than in The Square Town Centre. In the coming months, our teams will be working hard to bring Penneys’ unique in-store design and customer experience offering to life and we are looking forward to opening our doors to customers later next year.”

Jack Martin, Head of Retail for The Square Town Centre, said; “We are absolutely delighted with this announcement as it has been long overdue for Tallaght. Penneys is a fantastic retailer that will add a great offering to the Centre. For many years, the people of Tallaght have been very vocal in their desire to have Penneys in The Square and I have no doubt they will celebrate this news with us and make this opening a very successful and memorable one. This will bring jobs and prosperity to Tallaght and we are very excited to be partnering with such a great brand.”

Freda O’Donnell, The Square Town Centre’s asset manager from Sigma Retail Partners, said; “We are so pleased to announce that Penneys will be opening in The Square; a huge refit of the space is underway, and we are very excited with Penneys’ plans for their new store. Since we were appointed asset managers of the Square Town Centre in 2018, securing Penneys as a tenant has been a priority for Sigma Retail Partners and we are thrilled that they are joining our tenant line-up. They will no doubt be very successful, and we wish them all the best for now and the many years to come.”

Cushman and Wakefield and Bannon are joint letting agents for the owners of The Square while Penneys were advised by Savills.

The Square Town Centre was acquired by US private equity giant Oaktree Capital in 2018 and it is asset managed by Sigma Retail Partners. It currently has 160 retail units and more than 2,400 car spaces. The Square Town Centre consists of 577,500 sq. ft located on a site of 27 acres. Hugely popular with shoppers, the centre attracts footfall of over 15 million people each year.

Article by Sigma Retail Partners 

Maxi Zoo to open its first Sligo store in Sligo Retail Park

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Maxi Zoo will open their first ever store in Sligo on 9th September at Sligo Retail Park. Their new store is over 7,000 sq. ft and stocks an extensive range of pet products. This store is Maxi Zoo’s 21st store in Ireland and it will create 15 new jobs.

As one of Ireland’s largest pet retailer with 21 stores in the Republic of Ireland, Maxi Zoo opened its first store in Cor

k in 2006 and currently employs over 170 staff. It is part of the Fressnapf Group with over 1,700 stores across Europe, with more than 8,000 products in their extensive range and offers personal consultations for pet owners.

Maxi Zoo is celebrating the opening of their new store with a ‘Spend and Save Incentive’ from 9th – 12th September, with fun and exciting in-store and outdoor activities including a photo booth, in-store DJ, balloon modeller, magician and hourly raffle prizes planned for Saturday 11th September.

“This is a really exciting new store opening for Maxi Zoo as our first step to realising our ambition to extend our offering, first-class customer service and vast product range to pet owners in the West of Ireland,” said Enrico De Luca, Country Manager for Maxi Zoo Ireland. “This marks a new chapter for the business and signals our strategy for continued growth. Over the last 18 months, we have seen our business and sales boosted dramatically with more new pet owners and existing pet owners having a greater desire and disposable income to treat their pets. It’s been wonderful to see the bond that owners have with their pets become even stronger throughout the challenges and uncertainty we’ve faced. Choosing the dynamic region of Sligo in the heart of the North West was a natural first choice of location. Our new store in Sligo will be closely followed with another large store opening in the South West with further plans for expanding Maxi Zoo’s retail network over the coming 12 months.”

Maxi Zoo Sligo store manager Rory Farrell added: “We are so excited to open the doors and to welcome pet owners and their pets in our store. We are always on hand to offer advice on food, as well as coat and harness fitting and a free weight check for your dog. We really do have everything a pet parent might need – after all, happier pets, happier people.”

Paddy O’Connor from Sigma Retail Partners is the Asset Manager for Sligo Retail Park. He said “Maxi Zoo is a very well-known and strong brand in Ireland and Europe and we are delighted that they have chosen Sligo Retail Park as their first store location in Sligo. Their new store’s fit-out looks fantastic and we are confident that pet owners and animal lovers will enjoy their presence immensely. We look forward to them performing very well in the retail park.”

Sligo Retail Park is the primary retail park destination in the North West catchment area with stores catering to a wide variety of customers and accommodates diverse retail use. It has a total of 14 retailers that include JYSK, Currys PC World, Smyths Toys, Homebase, Castle Davitt, Right Price Tiles, Pet Stop Discount, Homestore & More, EZ Living, McDonalds, Costa and KFC, with 1,000 free car parking spaces.

Article by Sigma Retail Partners

Krispy Kreme to open second Irish store in Swords

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Krispy Kreme has chosen Swords Pavilions shopping centre in North County Dublin for the site of its second store in Ireland.

The new Swords shop is due to open this winter and will be located in the former KFC unit, beside Elverys Sports and Penneys in the shopping centre.

Krispy Kreme opened its first store in Ireland – in Dublin’s Blanachardstown – in 2018.

Hammerson and Irish Life are joint owners of the Swords Pavilions shopping centre.

With over 100 retail, dining and entertainment brands at Swords Pavilions, Krispy Kreme joins The Gift Shed, a new pop-up concept by the Kilkenny Group, fashion brand Catch and music store Golden Discs as recent openings in the shopping centre.

Ciara Connolly, Head of Leasing, Ireland at Hammerson, said it was a real vote of confidence in Swords Pavilions that a household name such as Krispy Kreme has chosen to join the centre in the early stages of its Irish expansion.

Article by RTE

Consumers prefer real-life shopping experiences, says leading Irish retailer

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Retail is back and it’s here to stay, says Christine Dolan of Quayside Shopping centre in Sligo Town.

The centre manager believes that the majority of Irish consumers prefer the social experience of a trip to the shops over the convenience of e-tail.

She told the All-Ireland Business Times that Quayside is busier than ever.

“I think people have missed coming into the shops”, she said. “It’s a totally different experience to shopping online.”

“People love the social aspect of a day out shopping and I think most people are sick of the virtual experiences – there are a lot of people who have been quite lonely through the pandemic and you can’t beat meeting up with friends for a lunch date while having a browse through the shops.”

“There’s a great buzz around at the moment and people are starting to mix again and enjoy themselves.”

A 2020 report by Deloitte found that retail is Ireland’s largest industry and the largest private sector employer, employing almost 300,000 workers – with three in four of those employed based outside of Dublin.

Quayside Shopping Centre opened its doors in 2005 as the largest shopping centre in the northwest of Ireland.

With 130,000 feet of floor space the centre boasts 43 retailers including TK Maxx, Lifestyle Sports and Next.

Quayside lost two retailers over the pandemic, one of them was a Carphone Warehouse store which was a casualty of the Group’s decision to close 80 stores in Ireland last year.

Christine revealed that units have since been filled by two new tenants with more set to come on board.

While Christine admits that competing against online retailers will be a tough challenge in the years to come, she is not worried about the long term future of her industry.

“What we’ve proven here time and time again is that we are resilient.”

“We’ve been through a recession and we’ve come out stronger on the other end so I have no doubt that we will get back to where we were pre-pandemic.”

“In fact, I think we’ll be in a better place.”

According to the Central Statistics Office’s Retail Sales Index retail sales increased by 3.3% in June this year compared to May on a seasonally adjusted basis. On an annual basis, retail volumes were 10.6 per cent higher than in June last year.

Interestingly the retail sales figure for June this year was 13.4% higher when compared to two years earlier, before the Covid-19 pandemic.

Quayside Shopping Centre recently landed its third Business All-Star Accreditation in recognition of its contribution to retail in Ireland.

Reacting to the news, Christine said: “I am delighted to be part of an ambitious All-Star Business. To be accredited for the third year in a row is a huge honour and I see it as recognition of the hard work that goes on behind the scenes.”

Quayside’s focus over the next few months is to promote the “shopping centre experience” and Christine revealed that the centre will be introducing an initiative to help local craftspeople and creators.

She said: “We have plans to relaunch our very successful Christmas markets and hope to do this a little bit early this year. The markets provide a wonderful opportunity for local traders who may have been out of work the last while and want the chance to set up a pop up shop or trading stall.”

“We really want to celebrate with our customers and give something back to the local community this year.”

To learn more about Quayside Shopping Centre Sligo, visit their All-Star showcase page here.

Article by All – Ireland Business Times

Mercado 52 is Now Open

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Another fantastic addition to South William St with Mercado 52 opening it’s doors to the public in the past few weeks. This unique multi-concept bar and restaurant is an exciting new venue for Dublin City from the team behind Juanito’s on Drury St. It was a pleasure to work with Cian Hamill and Aviva on this letting and we look forward to working with the guys again in the near future.

Give Bannon a call on 01-6477900 to discuss other similar properties currently available or if you have a property you might be interested in bringing to the market.

 

Thurles Shopping Centre welcomes award-winning store The Gourmet Butcher

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Thurles Shopping Centre has just opened a new store The Gourmet Butcher in the last two weeks. This is their second store with the first one in Clonmel, Tipperary. The new store has a lovely, modern-looking fitout. The Gourmet Butcher are speciality Artisan butchers who are locally-owned and independently run, supplying the highest quality locally sourced meat and dry aged beef.

The owner Kevin Walsh, a Tipperary businessman, decided to expand his operations despite the uncertainty caused by the ongoing pandemic and up to eight jobs have been created in the newly opened store. He said “Thurles Shopping Centre is a location we have been looking at on and off for the last two years. Our business model is a proven model and we won Best Retailer in Tipperary with the Chamber Business Awards two years ago. We think we’ll be a really good fit for the centre – there’s a massive grocery footfall there. We just think that our set-up, which is a traditional butcher with a modern twist, will go really well in that area.”

Sigma Retail Partners, the asset management company for Thurles Shopping Centre, acquired the centre in July 2015 and has put in place an active asset management plan since its acquisition. Emma Leonard from Sigma Retail Partners is the asset manager for Thurles Shopping Centre. She said “We warmly welcome The Gourmet Butcher to the shopping centre and believe they will bring a fresh offer to the centre’s customers. The Gourmet Butcher has received an overwhelming response in their first few weeks of trading and we are confident that they will do very well in the centre. I wish them all the best in their new store.”

Thurles Shopping Centre is walking distance from Thurles Town Centre and has a floor area of 110,000 sq ft. It has a footfall of approximately 55,000 per week and houses 600 car park spaces. Anchored by Dunnes Stores, it has 28 units in total with retailers including Boots, Vodafone, Holland & Barrett and Carraig Donn.

Article by Sigma Retail Partners 

New Eir Store opens in Dungarvan Shopping Centre

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Dungarvan Shopping Centre is excited to announce that it has just added Eir to its established list of retail stores.

This latest store in Dungarvan Shopping Centre has further increased the wide variety of shops already trading in the shopping centre. The brand Eir is very well-known in Ireland and it is one of the principal providers of fixed-line and mobile telecommunications services, serving approximately two million customers. The Eir group provides a comprehensive range of advanced voice, data, broadband and TV services to the residential, small business, enterprise and government markets.

Paddy O’Connor from Sigma Retail Partners is the Asset Manager for Dungarvan Shopping Centre. He said “We are fortunate that one of the leading brands of telecommunications services in Ireland has opened a new store in Dungarvan Shopping Centre. We have always believed in the importance of offering a wide range of retailers in all our shopping centres, for our customers and the local community, and the new Eir store complements very well to the tenant mix. Their new fit-out looks great and we wish them the best of luck in the centre.”

Anchored by Dunnes Stores, Dungarvan Shopping Centre has a total of 34 retailers including Eason, Carraig Donn, Game Stop and Lloyds Pharmacy. Dungarvan Shopping Centre is located in the centre of Dungarvan town centre and has a large multi-storey car park available to its customers.

Article by Sigma Retail Partners 

Maxi Zoo to join Sligo Retail Park’s impressive tenant line-up

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Maxi Zoo has confirmed that it will open a new store in Sligo Retail Park in September this year. Fit-out works have already begun, and this will be their first store in Sligo.

The store will be over 7,000 sq. ft and much to the delight of pet lovers in the local community and the surrounding catchment areas, it will stock their extensive range of pet products.

Maxi Zoo is Ireland’s largest pet retailer with 20 stores in the Republic of Ireland, and opened its first store in Ballincollig, Cork in 2006 and the company currently employs over 170 staff. It supports numerous local animal welfare charities and is Ireland’s largest pet retailer and part of the Fressnapf Group, with over 1,650 stores across Europe with more than 8,000 products in their range.

Paddy O’Connor, Asset Manager from Sigma Retail Partners, said “Maxi Zoo is a very strong brand in Ireland and Europe and we are delighted that they will be joining the tenant line-up in Sligo Retail Park. Maxi Zoo also has stores in two of our retail parks that we manage, Naas and Waterford Retail Parks, and their business continues to perform strongly despite the current challenging times. We are confident they will continue their success in the new Sligo store and warmly welcome them into the retail park and wish them all the best.”

Darren Spoonley from Maxi Zoo said “Maxi Zoo Ireland are looking forward to opening our first store in Sligo as part of our ongoing expansion plan, bringing our store network to 21. We are excited to bring our huge range of pet products to new customers. Our highly trained teams will be on hand to advise on all your pet needs and highlight our fantastic prices and offers.”

Sligo Retail Park is the primary retail park destination in the North West catchment area with stores catering to a wide variety of customers and accommodates diverse retail use. It has a total of 14 retailers that include JYSK, Currys PC World, Smyths Toys, Homebase, Castle Davitt, Right Price Tiles, Pet Stop Discount, Homestore & More, EZ Living, McDonalds, Costa and KFC, with 1,000 free car parking spaces.

Article by Sigma Retail Partners 

Blanchardstown Centre primes food offering for post-Covid shopping spree

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With the rollout of Covid-19 vaccines now under way, the owners of Blanchardstown Centre are gearing up for the return of significant numbers of shoppers to its stores, with three additions to the west Dublin outlet’s food and beverage line-up.

Having played host in 2018 to US donut giant Krispy Kreme’s most-successful opening globally, Blanchardstown has added boutique coffee house The Art of Coffee and specialist donut brand Off Beat to its offering. They will be joined later this year by gourmet burger chain Bunsen.

The Art of Coffee’s unit is its first in a shopping centre and is located at the red mall entrance beside BT2. The new 65sq m (700sq ft) store was added as part of the same development that saw German supermarket chain Aldi open a new 2,200sq m (23,680sq ft) store last December. Off Beat’s new store is located near Dunnes Stores in the green mall.

Bunsen’s new restaurant will be located immediately next door to Krispy Kreme. Extending to 190sq m (2,045sq ft), it will represent the popular chain’s first foray into a shopping centre since its establishment in 2013.

Commenting on the decision of the three brands to locate at Blanchardstown Centre, Sharon Walsh, leasing director at Falcon AM, said: “All three brands are best in class and Irish-owned. We are delighted that when they looked at growing their businesses in these challenging times, Blanchardstown was their destination of choice. These new additions will appeal to a broad demographic and enhance and compliment the already-wide food and beverage offering at Ireland’s largest shopping and leisure location.”

BNP Paribas and Bannon are the joint leasing agents at Blanchardstown Centre.

Article by The Irish Times 

Harry Corry is now open in Cavan Retail Park

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Despite the challenges facing the north-east this year due to impending Brexit and stricter lockdowns than their counterparts on either side of the border, it’s great to have some positive news and see Harry Corry open their latest store in Cavan Retail Park. Harry Corry are an international retailer specialising in home furnishings and this letting brings the park to full occupancy, further re-affirming the resilience of the retail park market.

Retail parks seize opportunity presented by High Street’s difficulty

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It’s difficult to imagine things getting any worse for the retail sector than they did in 2020. But the chief driving force behind the decline of investor interest began long before Covid-19 arrived. There has been growing concern in relation to the impact of online retail and changing consumer trends on the long-term supply-demand dynamic for the bricks-and-mortar format. Much of this has been imported from the US where retail supply is five times that of Ireland, and the UK where it is 25 per cent higher and undergoing a sustainability crisis.

While the relative performances of these markets may already have been up for debate, the impact of Covid has ended the discussion. By mid-March the sector became virtually un-investable due to Covid-related uncertainties attaching to rental payments being added to those longer-term occupational concerns. The consequence of this is manifest in year-end investment turnover figures where retail will represent a record low 2.5 per cent of an anticipated total investment market turnover of € 3 billion. This from a sector that represented 24 per cent of investment turnover for the last decade (to 2019), but descending rapidly from a high of 53 per cent in 2016 to a previous record low in 2019 of 9 per cent.

Unsurprisingly for 2020 High Street retail has been worst affected with Grafton Street top of the list experiencing a 66 per cent reduction in footfall for March to October. While the street’s footfall figures had been holding steady at 25 million for the last two years, the 2020 outcome will be closer to 13 million.

No surprise then that almost a quarter of the units on the street are effectively available. Henry Street performed a little better as did some of the other city’s high streets, but the tone is similar. Next in line were the “comparison led” shopping centres which, as a general rule, saw footfall collapse during the first lockdown and rent collections plummet below 35 per cent. However, they did improve quickly and were less affected by the second lockdown. The burden of the service charge costs of running these mall-based schemes was exposed during these periods and will be a key factor in assessing the risk of ownership of these asset types in the future.

The resilience of the grocery sector shone through. No surprise therefore that 65 per cent of the limited 2020 retail investment transactions were grocery deals. Similarly, smaller grocery-led schemes performed better and recovered quicker than major town centres but weaker covenant strength and holding costs affected net rental collections.

Low holding costs
The retail sector’s star performers, however, have been the retail parks. Indeed, in the case of the 15 retail parks under Bannon management (between nationwide lockdowns) car throughput actually increased year on year for the period with rent collection rates approaching 100 per cent and impressive turnover increases. Even where tenants were adversely affected, low holding costs relative to shopping centres maximised the net income return to landlords.

If this crisis has accelerated the sector’s movement to the “retail endgame”, then retail parks and their occupiers have risen to the challenge. In this regard we envisage this asset type, along with grocery, to be the most liquid and popular sector for the year ahead.

Outside of this and following both Brexit and an anticipated mid-January lockdown we foresee a post-vaccine period of rebuilding balance sheets and filling occupational voids. While this period could take 12 to 24 months, there is little doubt that the rebasing of the sector generally will attract new investors wishing to get ahead of the recovery. This will probably manifest as loan trades first with a focus on fundamentally-sustainable schemes and high streets at attractive yields with occupiers who have embraced the omnichannel experience.

More sophisticated investors will recognise the buying opportunity that Covid-19 presents, especially if valuers fail to acknowledge the vast differences in performance across the sector.

Rod Nowlan is investment director at Bannon

Article by The Irish Times

The Warehouse Gym signs new lease in Gateway Shopping Park, Galway

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Gateway Shopping Park will soon have an exciting and state of the art gym opening. The Warehouse Gym has just signed a lease with the shopping park and is due to open in the second quarter of 2021. It will be one of the biggest gyms in the west of Ireland at 18,000 sq. ft and it will be their third location in Galway.

The Warehouse Gym was founded in County Galway in 2013 and has exploded in popularity due to its large selection of strength equipment, free weights, machines and cardio equipment. As their community grew, they expanded out of the city centre to Oranmore in the outskirts of Galway, where they continue to serve their loyal members. The new gym in Gateway Shopping Park will host Galway’s largest selection of free weights, squat racks, cardio equipment and resistance machines. Services offered include personal training, InBody scans, virtual coaching software and nutritional consultations which are all bookable through a mobile application.

Michael Shortall, the General Manager of The Warehouse Gym, said “As a local business, The Warehouse Gym is super excited to be opening the largest gym in the west of Ireland right here in the heart of Galway. Gateway Shopping Park is the perfect location for serving the health and fitness needs of the Knocknacarra and surrounding communities. It’s our mission to fulfil that need by providing a welcoming, clean and modern health club for all ages and interests.”

Sigma Retail Partners are the asset management company for Gateway Shopping Park. Paddy O’Connor, Asset Manager for the park, said: “Finding the right fitness offering for our park was a key strategy for us. We wanted to ensure that we selected the right gym operator to provide the local community and the surrounding areas with a state of the art and well-run fitness centre. We are so pleased that a well-established gym in Galway will be joining our newly extended shopping park. The Warehouse Gym will be the eighth new addition to the Phase 2 extension and we look forward to welcoming them into our shopping park next year.”

The new shopping park extension is the first provision of retail space outside of Dublin since 2008 and the first in Galway in more than two decades. The development provided over 150 jobs during construction phase and is expected to create over 300 jobs in Knocknacarra and Galway when fully occupied. It will have open-use retail units and food and beverage units.

Gateway Shopping Park already has an impressive line-up of retailers including Dunnes Stores, B&Q, New Look, Next and McSharry Pharmacy, with new tenants recently opened in the Phase 2 extension, Harvey Norman, Boots, Carraig Donn, Petstop and Sonas Childcare. With the inclusion of The Warehouse Gym, the Phase 2 extension will be over 90% let.

Article by Sigma Retail Partners 

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Bag City is now open in Marshes Shopping Centre, Dundalk

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Bannon are delighted to welcome Bag City to Marshes Shopping Centre, Dundalk in the lead up to Christmas despite a turbulent 2020. Jennifer Mulholland, Divisional Director, comments that the addition of Bag City to the Tenant mix at Marshes is another positive testament for the scheme which continues to be the North East’s most dominant retail scheme.

Name It is now open in The Square Tallaght

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Great to welcome Name It to The Square Town Centre, Tallaght! Fantastic news to start off the Christmas season.

Golden Discs & Catch open their doors in Pavilions Shopping Centre, Swords

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As we exit level 5 restrictions, there is cause for double celebrations yesterday in Swords Pavilions Shopping Centre with the opening of 2 new stores. Great to see both Golden Discs & Catch open their doors in the lead up to Christmas.

Aldi is now open in Blanchardstown Shopping Centre

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We are delighted to be part of the team to deliver the new Aldi store in Blanchardstown. This will be a fantastic addition to the scheme which continues to grow and improve with new tenants and mall improvements.

Pop Up Store Walker & Hunter to open again this December in Athlone Towncentre

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Great to see local menswear brand Walker & Hunt going from strength to strength and gradually making the shift from online to bricks and mortar, taking space in Athlone Town Centre for the second year in a row, opening soon.

Eden Medical Clinic is now open in MacDonagh Junction Shopping Centre

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Bannon are delighted to welcome Eden Medical Clinic to MacDonagh Junction Shopping Centre, Kilkenny. Great to be involved in securing new store openings despite current level 5 restrictions.

Harvey Norman much-anticipated arrival into Sligo Retail Park is finally here

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Harvey Norman has just opened their brand new 45,000 sq. ft store in Sligo Retail Park on Thursday, 5th November. It is Harvey Norman’s first store in County Sligo and the 16th store in Ireland. The store is opening under the Government guidelines on a restricted basis due to level 5 lockdown with only essential goods and click and collect available.

It is also the fifth Harvey Norman store in Sigma Retail Partners’ portfolio, with other Harvey Norman stores in Naas Retail Park, Drogheda Retail Park, Waterford Retail Park and Gateway Shopping Park.

With over 290 stores worldwide and currently 16 in the Republic of Ireland, Harvey Norman is the leading retailer of furniture, bedding, computer and electrical goods. The first Harvey Norman store opened in Swords in Dublin in August 2003. Its stores have over 750,000 square feet of retail space and boast a massive range of goods. Harvey Norman has a worldwide presence with stores in eight countries across the globe, including Singapore, Malaysia, Slovenia, New Zealand, Croatia and of course Ireland.

Paddy O’Connor, Asset Manager from Sigma Retail Partners, said “We are very pleased that one of the biggest and most well-known global retailers in household and electrical goods has joined Sligo Retail Park. It is the completion of a lengthy asset management strategy with a focus to bring Harvey Norman to Sligo and the wider North West catchment. We are very confident that Harvey Norman will perform extremely well in Sligo and they are a great addition to our other fantastic retail partners in Sligo Retail Park.”

Sligo Retail Park is the primary retail park destination in the North West catchment area with stores catering to a wide variety of customers and accommodates diverse retail use. It has a total of 14 retailers that include JYSK, Currys PC World, Smyths Toys, Homebase, Castle Davitt, Right Price Tiles, Homestore & More, EZ Living, McDonalds, Costa and KFC, with 1,000 free car parking spaces.

Article by Sigma Retail Partners 

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Sonas Early Learning Centre opens in Gateway Shopping Park, Galway

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Gateway Shopping Park in Galway has opened a Sonas Early Learning Centre that offers childcare to children from 6 months up to 12 years. It is the fifth unit to open in the shopping park’s newly completed extension in the last three months.

Sonas Early Learning Centre offers quality childcare to babies, toddlers, pre-school and after school children, in a caring, comfortable, and child-led environment. The centre has large, secure outdoor play areas equipped with infant-friendly surfaces, climbing equipment, play equipment and sports and exercise equipment. Sonas is part of the Spraoi Early Learning Centre group and this is Spraoi’s sixth centre in Galway and its eighth centre in Ireland.

Theresa Murphy from Spraoi said “We are delighted to announce that our newest early years service is now open, delivering excellence in childcare in our state of the art, purpose designed, spacious 5 playroom service. Our services focus on the delivery of a child led early years experience, implementing a curriculum under the Aistear Curriculum framework. Our service has recently undergone a TUSLA inspection and achieved full compliance with all the regulatory requirements. Our on site chef delivers delicious and nutritious meals prepared with the nutritional needs of your child in mind. We look forward to welcoming you.”

Sigma Retail Partners are the asset management company for Gateway Shopping Park. Paddy O’Connor, Asset Manager for the park, said: “There are many young families in and around the surrounding areas of Gateway Shopping Park and coupled with a school right next door, we knew that a crèche would be a wonderful addition to the development. We are therefore very pleased that Sonas has joined our newly extended park and we wish them all the best.”

The new shopping park extension is the first provision of retail space outside of Dublin since 2008 and the first in Galway in more than two decades. The development provided over 150 jobs during construction phase and is expected to create over 300 jobs in Knocknacarra and Galway when fully occupied. It will have open-use retail units, food and beverage units and a gym.

Gateway Shopping Park already has an impressive line-up of retailers including Dunnes Stores, B&Q, New Look, Next and McSharry Pharmacy, with four new stores recently opened in the Phase 2 extension, Harvey Norman, Boots, Carraig Donn and Petstop.

Article by Sigma Retail Partners 

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Newly extended Gateway Shopping Park opens its fourth store, Petstop

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In a matter of weeks the newly extended Gateway Shopping Park in Galway has opened its fourth new store, Petstop. The new store has a floor area of 6,500 sq. ft and brings the total number of Petstop stores in Ireland to eight, which include The Park Carrickmines and Limerick One Shopping Park.

Petstop is a chain of pet shops in Ireland stocking pet foods, pet supplies and pet accessories. They are a one-stop-shop for all petcare needs with over 7,000 products in their stores. Established 25 years ago in 1995, they are one of the leading pet store chains in Ireland.

Anthony Gallagher, the Managing Director of Petstop said “Petstop are delighted to have opened our latest store at Gateway Shopping Park in Galway. The reaction so far from pets and their parents has been fantastic. I hope we can welcome many more pet families to visit us at Knocknacarra. I would like to send my warmest congratulations to all my colleagues at Petstop in Galway and my friends at Sigma Retail Partners for making our opening such a success.”

Sigma Retail Partners are the asset management company for Gateway Shopping Park. Paddy O’Connor, Asset Manager for the park, said: “On behalf of Sigma, we are absolutely delighted to welcome Petstop to Gateway Shopping Park and feel they are a great addition to the existing line-up of retailers. Petstop will join top quality retailers including the recently opened Harvey Norman, Boots and Carraig Donn, as well as the impressive list of existing retailers. We wish them all the best in their new store.”

The new shopping park extension is the first provision of retail space outside of Dublin since 2008 and the first in Galway in more than two decades. The development provided over 150 jobs during construction phase and is expected to create over 300 jobs in Knocknacarra and Galway when fully occupied. It will have open-use retail units, food and beverage units, a creche and a gym.

Gateway Shopping Park already has an impressive line-up of retailers including Dunnes Stores, B&Q, New Look, Next and McSharry Pharmacy, with three new stores recently opened in the Phase 2 extension, Harvey Norman, Boots and Carraig Donn.

Article by Sigma Retail Partners 

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Ray-Ban opens new store on 32 Grafton Street

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Bannon are delighted to have concluded the deal that sees Ray-Ban now trading from 32 Grafton Street. Congratulations to Ray-Ban for carrying out an amazing fitout.

Carraig Donn’s Largest Store in Ireland to Open in Gateway Shopping Park

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Carraig Donn will open a new store in Gateway Shopping Park in Galway on Friday 11th September. The new store will be the largest of all their retail stores with a floor area of 4,700 sq. ft and it will bring the total number of Carraig Donn stores in Ireland to 42.

Carraig Donn is Ireland’s premier retailer of fashion, jewellery and giftware products. Carraig Donn was established 55 years ago in 1965 and has its head office in Westport, County Mayo. It is 100% Irish owned and currently employs over 500 people nationally.

Pat Hughes is the Managing Director of Carraig Donn and the company was founded by his parents, Padraig and Maire Hughes. Pat Hughes said “We’re delighted to announce the opening of our new flagship store, and our third store in Galway. Despite the challenges that exist in our industry as a result of Covid-19, we are committed to our growth and expansion plan. We have a loyal customer base in Galway, and we are delighted to bring the very best of Irish fashion, jewellery and homeware to Knocknacarra”.

Sigma Retail Partners are the asset management company for Gateway Shopping Park. Paddy O Connor, Asset Manager for the park, said: “On behalf of Sigma and indeed the wider design team and the owners, we are thrilled to welcome Carraig Donn to our newly extended and re-branded Gateway Shopping Park. Carraig Donn will join top quality retailers including Boots and Harvey Norman who also opened their fantastic new stores within the last few weeks, and will join existing tenants Dunnes, B&Q, Next, New Look and McSharry Pharmacy.”

The Phase 2 extension is the first provision of new retail space outside of Dublin since 2008 and the first in Galway in more than two decades. The development provided over 150 jobs during construction phase and is expected to create over 300 jobs in Knocknacarra and Galway when fully occupied. The new extension will have open-use retail units, food and beverage units, a creche and a gym.

Gateway Shopping Park already has an impressive line-up of retailers, including Dunnes Stores, B&Q, New Look, Next and McSharry Pharmacy, with two new stores recently opened, Harvey Norman and Boots, and Petstop opening soon in the upcoming weeks.

Article by Sigma Retail Partners 

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FunTech opens new store in Blanchardstown Centre

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FunTech is now open on Level 1 in Blanchardstown Centre. Phones, gadgets and accessories all available.

Liverpool FC opens new pop-up store in Swords Pavilions Shopping Centre

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Liverpool FC have launched a brand new pop-up store in the Swords Pavilions Shopping Centre, making it the second official club store in Dublin.

International homeware chain JYSK to open in Sligo Retail Park

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International homeware retailer JYSK will open a new store in Sligo Retail Park on Thursday, 27th August. The store will have a floor area of 10,000 sq. ft and it will be JYSK’s eighth store in Ireland. It will also be the fifth store in Sigma Retail Partners’ portfolio, the other JYSK stores in its portfolio are Naas Retail Park, Drogheda Retail Park, Navan Retail Park and Parkway Retail Park (Limerick).

JYSK is an international retail chain from Denmark that sells household goods such as mattresses, bedding, sofas, furniture, curtains, dining sets and soft furnishings. JYSK is the largest Danish retailer operating internationally with close to 2,800 stores in 52 different countries, and many more stores will follow with its worldwide expansion plans. It was the founder and Chairman of the board Lars Larsen’s goal from the beginning to open and grow more and more stores and the aim to expand is a central part of JYSK’s plans. JYSK’s first entry into Ireland was in April 2019 with a store in Naas Retail Park.

Roni Tuominen, Country Manager at JYSK UK & Ireland, said: “The appetite for JYSK’s offering is there amongst Irish consumers. As a result we want to find new JYSK locations in towns and cities all over Ireland so we can contribute to the local economy, especially in smaller communities where our job creation will be extremely valuable.”

“We’re very excited to open the first JYSK store in Sligo which will be the centre of our operations in the West of Ireland going forward. We look forward to delivering exceptional quality products at great prices to our Sligo based consumers”, he added.

Patrick O’Connor, Asset Manager from Sigma Retail Partners, said “New retailers always bring a fresh new feeling and a sense of excitement into a retail park. The fact that JYSK is relatively new to Ireland adds even more to this excitement. We are delighted to have JYSK on board in Sligo Retail Park and we wish them the best of luck with their upcoming store openings.”

In addition to JYSK, Harvey Norman is also due to open a 40,000 sq. ft store in October. Sligo Retail Park is the primary retail park destination in the North West catchment area with stores catering to a wide variety of customers and accommodates diverse retail use. It has a total of twelve retailers that include Currys PC World, Smyths Toys, Homebase, Castle Davitt, Right Price Tiles, Homestore & More, EZ Living, McDonalds, Costa and KFC, with 1,000 free car parking spaces.

Article by Sigma Retail Partners 

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Yours Clothing is now open in the Ilac Shopping Centre

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Yours Clothing, a plus-size retailer, is now open in the Ilac Shopping Centre.

Creation of 300 Jobs at Gateway Shopping Park’s Phase 2 in Galway

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The Phase 2 development provided over 150 jobs during the construction phase and is expected to create over 300 jobs in Knocknacarra and Galway when fully occupied. It is also the first provision of new retail space outside of Dublin since 2008.

After the absence of any retail construction activity in Galway for more than 10 years, the brand new Gateway Shopping Park Phase 2 expansion has just been completed, with the first two retailers, Harvey Norman and Boots opening their stores this month. Boots opened their store early July with Harvey Norman opening their new flagship store of 60,000 sq. ft on 22nd July.

The newly completed Phase 2 extension will have open-use retail units, food and beverage units, a creche and also a gym. It will include over 320,000 sq. ft of retail and leisure space and will make it one of Ireland’s largest shopping destinations. Aside from Harvey Norman and Boots, Carraig Donn, Spraoi Early Learning and Evergreen, Esquires are also included in the line-up of new retailers in the expansion.

Gateway Shopping Park already has an impressive list of current retailers, including Dunnes Stores, B&Q, New Look, Next and McSharry Pharmacy. The asset management company Sigma Retail Partners, on behalf of the owners Targeted Investment Opportunities ICAV, worked extensively on the project and the newly expanded retail asset will reinforce the shopping park as a primary shopping destination.

Gateway Shopping Park is located in Knocknacarra on Western Distributor Road, just across from the new gaelscoil that was built last year, Gaelscoil Mhic Amhlaigh. Gateway Shopping Park is also just a 10-minute drive from Galway city centre.

Article by Sigma Retail Partners 

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Harvey Norman open in Gateway Shopping Park in Galway

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Harvey Norman are set to open their premium store in the new Phase 2 development at Gateway Shopping Park, Knocknacarra, Galway on Wednesday the 22nd July. Harvey Norman will anchor the recently completed Phase 2 extension with the existing Phase 1 anchored by Dunnes Stores and B&Q.

The largest retailer of appliances, technology and interiors in Ireland, Harvey Norman, will open a new premium 60,000 sq. ft. store which will trade over 2 levels and will include furniture, bedding, homewares, technology and appliances. There is also a Synge & Byrne café located upstairs. Harvey Norman will be an exciting addition to the already impressive line-up which includes Dunnes Stores, B&Q, Boots, New Look and Next.

Commenting on the store opening, Harvey Norman CEO Peter Hearn said, “We are very excited to open the doors to our Galway store. Our team has created THE key shopping destination in Galway for furniture, bedding, appliances and technology. We are proud to showcase our large range of the latest Irish-made furniture and bedding, we’ve installed a huge kitchen display area, a games hub, a Wonder Photo Shop and more. The biggest global brands highlighted by the latest store fit design plus safe shopping measures are all in place for our Galway customers.” There have been 47 jobs created within the store and warehouse.

Paddy O’Connor of Sigma Retail Partners, the asset managers for Gateway Shopping Park, said “we are absolutely delighted with the opening of Harvey Norman in our shopping park. We are excited to finally be able to welcome Harvey Norman to Galway and wish the Harvey Norman team all the best in their impressive new store. This is the first large scale retail development in the country for a number of years and the confidence shown in the scheme, Galway and also traditional retail can be seen with the quality of the international and national renowned retailers we are partnering with. Harvey Norman and the new Phase 2 tenants will solidify Gateway Shopping Park as a leading retail destination in the Galway catchment”.

The new Phase 2 extension is the first provision of new retail space outside of Dublin since 2008 and the first in Galway in more than two decades. The development provided over 150 jobs during construction phase and is expected to create over 300 jobs in Knocknacarra and Galway when fully occupied.

The Phase 2 extension will have open-use retail units, food and beverage units, a creche and a gym. Gateway Shopping Park will include over 320,000 sq. ft of retail and leisure space and will make it one of Ireland largest shopping destinations.

Gateway Shopping Park already has an impressive line-up of retailers, including Dunnes Stores, B&Q, Boots, New Look, Next and McSharry Pharmacy.

More exciting retailers will be announced in the coming weeks.

Article by Sigma Retail Partners

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New restaurant, Sasta by the River, coming soon to Manor Mills Shopping Centre

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Another exciting addition soon to Manor Mills Shopping Centre in Maynooth, Sasta by the River restaurant, offering healthy food & drinks, including a great selection of vegetarian, vegan and gluten-free options, homemade cakes and pastries.

This new eatery is exactly what Maynooth has been looking for. It is great news to have new local businesses emerging in what has been very difficult times for the retail sector. Keep an eye on Sasta by the River social media pages where they will be documenting their fit-out towards their opening.

Article by Sigma Retail Partners 

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Boots open in Gateway Shopping Park in Galway

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Boots is set to be the first store to open in the new Phase 2 development at Gateway Shopping Park, Knocknacarra, Galway on Wednesday 1st July. Boots will come as an excellent addition to the existing park, currently anchored by Dunnes Stores and B&Q.

Boots will occupy a large store of over 7,500 sq.ft and will come as wonderful news to customers of Gateway Shopping Park and the loyal shoppers in Knocknacarra and the wider catchment.

Boots Ireland is a leading pharmacy-led health and beauty retailer with 89 stores in Ireland and over 2,000 employees. Boots is at the heart of the communities it serves and is a staple health and beauty retailer for many people in Ireland. Customers visiting the new store will have access to a wide range of pharmacy services, including prescription service, blood pressure monitor, vaccinations, healthy heart support and hearing care service.

Commenting on the store opening, Store Manager David Boyce said: “We are delighted to open the doors to our new Boots Ireland store in Knocknacarra. The new store will provide local residents with access to our wide range of pharmacy, health and beauty products and services. Our new store has created 16 new jobs in the locality and both myself and the team are looking forward to welcoming customers over the coming days.”

Paddy O’Connor of Sigma Retail Partners, the asset managers for Gateway Shopping Park, said “we are absolutely delighted with the opening of Boots in our shopping park and feel they are a great addition to the existing line-up of retailers. Boots and the new Phase 2 tenants will solidify Gateway Shopping Park as a leading retail destination in the Knocknacarra and wider Galway catchment”.

The new Phase 2 extension is the first provision of new retail space outside of Dublin since 2008 and the first in Galway in more than two decades. The development provided over 150 jobs during construction phase and is expected to create over 300 jobs in Knocknacarra and Galway when fully occupied.

The Phase 2 extension will have open-use retail units, food and beverage units, a creche and a gym. Harvey Norman is also scheduled to open a new flagship 60,000 sq.ft store in July. Gateway Shopping Park will include over 320,000 sq. ft of retail and leisure space and will make it one of Ireland largest shopping destinations.

Gateway Shopping Park already has an impressive line-up of retailers, including Dunnes Stores, B&Q, New Look, Next and McSharry Pharmacy.

More exciting retailers will be announced in the coming weeks.

Article by Sigma Retail Partners 

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Hibernia REIT lets remaining space in 2WML building

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Hibernia REIT has let the remaining space in its 2WML building to online fashion platform Zalando Ireland.

The 47,500 sq.ft has been rented on a 15-year lease, with term certain of seven years, at initial rent of €2.9 million per annum – almost €60 per square foot.

The building is now let to Zalando, Udemy and gym firm Perpetua, at a contracted rent of €3.9 million per annum.

The news follows Hibernia Reit’s statement earlier this month that negotiations over leases on the majority of its vacant office space were “advanced” following an active fourth quarter in the Dublin office market.

“Following this letting the Quarter’s circa 400,000 sq.ft of office accommodation is fully occupied, marking the completion of a six-year programme to transform the Windmill Lane area in Dublin’s South Docks and the creation of our first cluster of office buildings,” said Justin Dowling, Hibernia’s director of property.

Published Article

Specsavers open in Manor Mills Shopping Centre in Maynooth

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Specsavers have now joined the tenant line up in Manor Mills Shopping Centre. The store is equipped with the latest eye and ear testing technology. Maynooth is the only Specsavers store in North Kildare.

Specsavers now have over 1,980 stores worldwide including 79 in Ireland. The chain offers optician services for eyesight testing and sells glasses, sunglasses, contact lenses and hearing aids. Founded in 1983, Doug and Mary Perkins started the business with their first store opening in UK and through the years, Specsavers have partnered with international celebrities such as Kylie Minogue and Will.I.Am in their exclusive eyewear range with Specsavers.

Jenna Culligan, from Sigma Retail Partners, asset managers for Manor Mills Shopping Centre, said “One of our asset management strategies from the outset for the shopping centre has been to bring in a wide variety of retailers to cover all aspects of the needs for our shoppers and residents alike.”

Built in 2005, Manor Mills Shopping Centre is centrally located within Maynooth town itself and is located adjacent to Maynooth University. The shopping centre is home to 30 retailers including Dunnes Stores, Costa Coffee, Carraig Donn, Eason and Hickeys Pharmacy. There are over 500 free car parking spaces in a covered car park. A significant amount has already been invested into the rebranding of Manor Mills Shopping Centre and plans for further investment are set to continue.

Article by Sigma Retail Partners

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Harvey Norman to open Knocknacarra store in April with the creation of over 60 jobs

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Harvey Norman is to open its new store in Knocknacarra in April with the creation of over 60 jobs.

The major retail outlet will be located at the Gateway Retail Park, on the Western Distributor Road beside Dunnes Stores and others such as B&Q.

Recruitment is ongoing for cashiers, sales, administration, and technical support staff.

Manager of the new outlet, Michael Sloane says the Galway store will be one of the best in the country.

Published Article

Starbucks opens drive-thru location at The Marshes

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The first drive-thru Starbucks on Ireland’s east coast has opened at Marshes Shopping Centre and coffee lovers should keep an eye out for promotions throughout the week.

The move has been hailed by centre management at Marshes as “another vote of confidence in the north east’s most popular retail destination”.

Starbucks operates over 20,000 outlets globally, but this is only the second drive-thru in the Republic of Ireland.

The first Starbucks drive-thru in Ireland opened in 2018 at Shannon.

The new drive-thru is located at the Dunnes Stores entrance to the centre, beside an An Bóthar Iarainn and the link road to the Avenue Road/Tom Bellew Avenue.

“We are delighted with this wonderful development at Marshes,” said centre manager Seán Farrell.

“Marshes continues to enjoy great success and the opening of the Starbucks drive-thru is another vote of confidence as the centre experiences more growth and renewal.”

This is the second Starbucks outlet in the centre, the coffee chain has had a store in Marshes since 2014.

Published Article

How To Achieve The Connectivity That Today’s Tenants Need

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Connectivity is firmly established as a necessary utility for office tenants. However, there are still many office locations that don’t deliver the connectivity that businesses require. A Bisnow survey carried out in September found that 69% of businesses had moved location to improve connectivity, while 41% of respondents said poor quality connectivity hindered them from doing their job properly on a weekly basis.

The savviest landlords and developers are therefore using all available technologies to achieve high connectivity. Dublin Airport Central has taken IT infrastructure seriously from the first stages of development, and the scheme has now achieved WiredScore Platinum certification.

“Today, fast internet is the most important factor for specific companies searching for office space who see their IT infrastructure as more important than the physical building they occupy,” DAC Head of Sales and Marketing Paul Byrne said. “Until now there has been very little information available to tenants about the quality of internet connectivity in office spaces. Wired Certification provides that transparency and access to information for tenants.”

What Good Connectivity Means

WiredScore has quickly become a recognised benchmark for a landlord to demonstrate a property’s level of connectivity. To achieve Platinum certification, the development must demonstrate an extremely high quality of infrastructure, as well as factors such as good communication with fibre providers, in-building mobile planning and free WiFi in common areas.

All these elements come together to provide a high level of experience for those who use the building. They come at a cost to the developer, of course, but the return will be an increased level of tenant interest. Businesses will increasingly turn away from offices that don’t meet their connectivity requirements.

Additional concerns for a landlord or property owner are IT security and reliability. Business operations are now so dependent on the internet that tenants need to be assured that they can stay online at all costs.

“At DAC we have installed multiple diverse routes underground that deliver fibre optic connectivity to the IT hub in each building,” Byrne said. “In addition, there are several different IT routes into the overall campus for further security. Being an airport city, IT security is one of, if not the, most important requirements we deliver for our customers.”

To ensure reliability, developments are increasingly including back-up generators to supply emergency power if needed. DAC has taken this further by providing space within the buildings’ plant areas for tenants to install their own private generators.

Future Proofing

It’s not enough for a business to improve connectivity for today’s technology, however. The speed of improvements to both wireless and mobile connectivity and what can be done with technology mean that an office provider must keep one eye on the future. “We have invested and we continue to invest very significant capital into future proofing our campus,” Byrne said. “In a rapidly evolving digital economy, technology is increasingly central to operations. Fast and reliable connectivity is the lifeblood of any modern business.”

An example of DAC’s investment in future proofing is the inclusion of a distributed antenna system to effectively provide high-speed wireless coverage across the campus buildings. This means that when 5G is rolled out, for example, high mobile connectivity should be available.

“Being an airport city, physical connectivity has always been one of our main unique selling points in terms of attracting companies here,” Byrne said. “However, in respect of the actual building and services, achieving world class IT infrastructure was a goal for us from the very beginning as we have always recognised that business continues to evolve at a rate of knots and we must stay up with the pace. For perspective, the iPhone only turned 12 this year, it still isn’t even a teenager. Where will the world be in a decade?”

We are already getting glimpses of how 5G, artificial intelligence and the Internet of Things will change the way we operate. To ensure businesses can make the most of new technology when it arrives, a landlord must lay the IT foundations today.

This feature was produced by Bisnow Branded Content in collaboration with Dublin Airport Central.

MacDonagh Junction – a magical shopping centre and much, much more

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MacDonagh Junction is the larges shopping centre in the South East. But that is a massive under-statement for the Kilkenny centre is so much more.

It is a cultural hub, an entertainment base, a tourist attraction and a place where people meet to eat and enjoy everything from a quick coffee to a leisurely gourmet experience.

MacDonagh Junction is Kilkenny city’s residential, commercial business and leisure quarter, with an architectural style that perfectly suits its historic surroundings.

It is home to 100 luxury apartments, 40 top quality retail units, and a landmark office building. It has restaurants, space for performances, a community youth centre and leisure facilities including a bowling centre.

MacDonagh Junction is a platform for leading Irish and international retailers. The anchor tenants include Dunnes, H&M, River Island, Next and TK Maxx.

“There has been a good uplift in our retail performance over the last six years with sustained measured footfall growth, resulting in improvements in performance across mos of the brands trading at MacDonagh Junction,” says the centre’s manager, Marion Acreman.

This, she explains, has enabled MacDonagh Junction to attract brands that enhance the tenant mix and offer customers an outstanding range of fashion, food and leisure services.

Shopping at MacDonagh junction is always a pleasure. “We have top class experiential services, including a baby -feeding suite, height-adjustable changing bench and free wifi,” explains Marion. “And we have a wheelchair and buggy loan service from our award winning Age Friendly Accredited business.”

The main event space at MacDonagh Junction is known as Workhouse Square. This is a covered outdoor space with access from the main street and direct access from the shopping mall itself.

It is a courtyard-style space with a number of food options, including the Courtyard Bar & Grill, a fully serviced restaurant operated by the award winning chef, David Rousse.

The built environment at MacDonagh Junction merges beautifully with the historic buildings of both the Famine Workhouse and Goods Shed of the old railway station.

And MacDonagh Junction is home to a unique heritage offering, the free Kilkenny Famine Experience Tour. “We have targeted uses that enable us to offer lifestyle services such as optician, beauty, art classes, youth centre, banking and bowling,” says Marion.

MacDonagh Junction offers a free personal shopper service throughout the centre. It’s great opportunity to get personalised style and fashion advice from Karen Morrissey. And here’s another little bonus – there are electric charging points in the Blue Car Park at MacDonagh Junction.

The run-up to Christmas is an exciting time at MacDonagh Junction where they have been celebrating the launch of the new Star Wars movie with a whole platoon of characters to meet, greet and entertain you.

Nore Valley Park are providing an immersive festive programme in Workhouse Square. You can meet Santa and his mischievous elves and see his reindeer. You may even get the chance to bottle feed a baby reindeer.

It’s all part of the MacDonagh Junction magic.

“The benefits of doing business in Kilkenny are immeasurable and we hear that from locals and visitors on a daily basis,” says Marion Acreman. “We are acutely aware of the changing retail environment and feel the way forward for us is offering the experience people are asking for to include being open when people have time for leisurely visits and enhancing the experience to ensure the customer is valued and heard.”

Published Article

Introducing Barking Mad Pet Boutique to Rathmines!

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Barking Mad, who work with local Irish & renowned international producers to supply premium pet food & accessories are now open in The Swan Centre Rathmines.

Visit Barking Mad Pet Boutique today! Show them this image and get 10% off! T&Cs apply.

Elverys opens new store in Crescent Shopping Centre

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Ireland’s leading authentic sports retailer, Intersport Elverys opens new store in Crescent Shopping Centre.

Quigleys Cafe opens in The Square

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Bannon are delighted to welcome Quigleys Cafe, Bakery & Deli to The Square Tallaght.

The new cafe is now open for business just off the centre mall on Level 2.

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Hambleden House
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Dublin 2
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