Our latest Retail Pulse has now gone live. In this months edition our Retail Leasing team look at some of the recent activity in the Irish Food & Beverage market.
Full report available here.
Great morning with Property Managers and Centre Managers with their extended teams together for a Marketing Insight Session with speakers Peter Higgins & Demi Wright from Walker Communications speaking on social media and Alex Herbert from Elevation Promotional Marketing on “Everything has changed, yet nothing has changed”.
A huge congratulations to our own Diarmuid Kilroy at Bannon who completed the Limerick Regeneron Marathon at the weekend in a staggering 2:57:59 to rank 58 overall out of 1553 participants! Some going Diarmuid!! 👏 🏃
Photo taken from I Love Limerick 📷
The sun was shining for the Bannon Future Leader Brunch & Racing Day at House Dublin, with the gang now currently at Punchestown.
Bannon are delighted to welcome the ‘future leaders’ from our client firms across the industry for a day of sun, fun and racing.
Another successful Completely Retail Marketplace conference wrapped up for the Bannon Retail team. Interest in the Irish market remains strong, with international Retail and F&B brands exploring expansion opportunities. The sunny weather was a bonus letting them have many productive alfresco meetings. Overall, the team had a very positive and engaging feedback on Irish Retail with plenty of active requirements.
James Quinlan Darren Peavoy and Jennifer Mulholland
The Bannon Property Management Retail Portfolio continues to support local communities nationwide. Ballinteer Neighbourhood Centre, located in the heart of South Dublin, has long served as a vital hub for local residents. Situated just minutes from the M50 and close to the vibrant areas of Dundrum and Marley Park, the centre enjoys excellent connectivity by car, foot, and several Dublin Bus routes.
Home to a population of over 15,500 people, Ballinteer is a bustling and close-knit community. The shopping centre plays an active role in local life, regularly supporting neighbourhood initiatives and schools in the area. It is also home to community-focused occupiers that contribute to the local atmosphere, including medical services, cafés, and independent retailers.
Ballinteer Neighbourhood Centre is committed to sustainability and environmental responsibility. Recent initiatives include the creation of bug hotels, bird boxes, and the development of wild meadow areas throughout the centre’s grounds. These efforts are designed to encourage biodiversity and support local wildlife, reflecting the centre’s dedication to maintaining a greener, more sustainable environment for the community.
Spanning over 60,000 sq.ft, the centre comprises a well-balanced mix of retail, food and beverage outlets, and essential services. Anchored by SuperValu, the centre also features a pharmacy, pub, bakery, café, barbershop, and a range of other convenience and lifestyle retailers. In 2023 a full carpark upgrade was completed designed to significantly improve convenience, safety, and overall customer satisfaction. Dedicated bays for electric vehicles, families, and people with disabilities have also been added to cater to a diverse range of needs. The upgrade includes enhanced lighting throughout the facility, improved signage for easier navigation.
With a welcoming and community-oriented layout, Ballinteer Neighbourhood Centre is designed to offer a convenient and friendly shopping experience for families and individuals alike. Its occupier mix reflects the strong sense of local identity and loyalty, with a blend of well-known names and independent businesses.
Former British Prime Minister Harold Wilson once quipped that “a week is a long time in politics”. While not a politician I can personally attest to the fact that 20 years is most definitely a long time in the commercial property profession. Having commenced employment with Bannon in the heady days of January 2005, there have been many ups, downs and ‘back-up agains’ in between.
The initial years of my career in Bannon, and the development land department specifically, were filled with developer flyovers via helicopter, seven figure deposit cheques, foreign Christmas parties (!) and a general ‘the only way is up’ attitude fuelled by copious Kool-Aid consumption long before the phrase became fashionable on this side of the Atlantic. By the Autumn of 2008 the seismic collapse of Lehman Brothers heralded the onslaught of the great financial crash and the development land sector in Ireland (as in most parts of the world) ground to a crushing halt. Thoughts of ‘what now?’ quickly took hold amongst property professionals and the answer came in the form of four letters which would dominate the sector for many subsequent years, NAMA.
The National Asset Management Agency was founded in 2009 and valuers were contracted to conduct asset valuations by either the lending institution transferring loans over to NAMA or by NAMA itself to provide checks and second opinions. And so ensued a colossal nationwide valuation exercise of every conceivable property asset ranging from abattoirs to retail parks and everything in-between. Overnight, investment agents and leasing teams who were largely at a loose-end due to inactivity in their sectors were seconded to put their shoulder to the wheel and reacquaint themselves with ‘The Red Book’. It’s unlikely that we’ll ever experience a valuation exercise on such a scale in this country again with property assets worth an estimated €50 billion valued over the space of three years in the depths of a recession.
While valuations could never claim to be the sexy side of the profession, the NAMA valuation process kept the lights on, wages paid and demonstrated the resilience and flexibility of the fledgling Bannon brand which not only weathered the storm but flourished in the post-apocalyptic commercial property market. Niall Brereton is a Director of the Professional Services & Land Department in Bannon.
Image taken from NAMA
This Easter, Bannon is proud to support The Salvation Army Houben House Family Hub by donating 230 eggs to families in emergency accommodation.
We are hoping to bring a sense of celebration to those currently facing the challenges of homelessness this Easter break reinforcing the importance of community support.🐰
The Dublin office market has had a strong start to 2025, with significant leasing activity and a clear trend towards high-quality, centrally located spaces. Notably, city centre areas accounted for 80% of office take-up in Q1, reflecting ongoing demand for accessibility, modern amenities, and proximity to transport links.
As the workplace landscape continues to evolve, businesses are prioritising Grade A office space to meet the needs of their teams. Dublin remains an attractive hub for both established and emerging industries, particularly in the TMT sector.
Exciting times ahead for the market!
To view the full report, please click here.
The retail sector dominated turnover this quarter, accounting for nearly 50% of transactions, with Bannon involved in most deals. Geopolitical uncertainties have impacted larger transactions, especially in the office sector. However, robust activity in the sub-€15 million market is expected, driven by French funds and high-net-worth individuals.
To view the full report, please click here.
Exciting News at The Retail Park Liffey Valley!
A heartfelt thank you to our local Irish Men’s Sheds Association group for their contribution of a beautiful bug hotel here in the park! 🐞
This initiative not only boosts biodiversity but also highlights the strength of community involvement. Together, we strive to nurture a more sustainable and vibrant environment for everyone to appreciate.
Our latest Retail Pulse has now gone live. In this months edition our Retail Leasing team look at some of the recent activity in the Retail Park market.
Full report available here.
We are very proud of the sustained growth of our Property Management portfolio over the last 20 years. In 20 years, the Bannon portfolio has grown from under 1 million sq.ft. of space in 2005 to almost 10 million sq.ft. in 2025.
We would like to take this opportunity to thank our valued clients (past, present and future) for entrusting us with the management of their assets.
Check out these amazing bird houses and insect hotels built by the Irish Men’s Sheds Association to beautify the Naas community! We were thrilled to contribute to this fantastic project.
It’s inspiring to see such a dedicated group fostering social connections and storytelling among members. Great job, everyone!
Exciting News! Dominic Smith Electrical new store is now open at Leopardstown Retail Park in Sandyford.
Spanning over 8,000 sq. ft., the impressive new store brings a wide range of electrical products, expert advice, and exceptional customer service to the heart of Sandyford. This opening enhances the retail mix of the park, making it an even more compelling destination for customers.
For further leasing queries, please contact Darren Peavoy.
Great for the Bannon team to have been involved at multiple levels in such an important sale for the Irish market. Congrats to Oaktree Capital Management, L.P. and to the Sigma Retail Partners team. Wishing the new owners Realty Income Corporation all the best with this exciting portfolio!
The Square Tallaght is one of Ireland’s leading retail destinations, offering a versatile mix of shopping, dining and entertainment options. The centre opened in 1990 and provides c. 570,000 sq. ft. of retail space, making it one of the largest shopping centres in Ireland.
The scheme is located in the heart of Tallaght, one of Dublin’s most populated suburbs, just minutes off Exit 11 of the M50. There are over 2,400 car spaces available onsite, and the centre is just a short walk from Tallaght Luas stop, making it easily accessible by car, foot & public transport.
Anchored by Penneys, Tesco & Dunnes Stores, other notable retailers include JD Sports, River Island, Easons, Lifestyle Sports & Specsavers. These are complemented by an ample range of cafes & restaurants, which include Boojum, Nandos, Insomnia & Zambrero among others. Movies@ The Square’s 13-screen cinema rounds off the centre’s broad offering, showing all the latest movie releases as well as regular VIP screenings.
The centre regularly hosts events & promotions and is very proud to continually offer a wide range of family friendly activities. The Square prides itself on being at the heart of the local community, underpinned by its sponsorship of Shamrock Rovers FC. The centre is also delighted to offer its parking facilities for any events held at Tallaght Stadium.
The Square’s range of shopping, dining & entertainment options, combined with its convenient location, has led to it becoming one of Dublin’s most popular retail destinations for locals & visitors alike. Bannon are proud to have been working with the centre as Managing Agents since 2018.
Prime McDonald’s drive-thru units in Shannon and Cavan are now available for sale, offering investors stable and long-term returns.
Brian Morton of Bannon says: “These prime drive-through restaurants offer the chance to attain an investment with stable and long-term returns. The strength of the tenant covenant along with the assets’ strategic location will make this opportunity highly appealing to any potential investor.”
Great food and a stunning location, we had the pleasure of inviting our friends and connections to our annual lunch at the Gray D’Albion Beach Restaurant during the MIPIM Exhibition yesterday afternoon.
Thank you to our guests for making it memorable and we look forward to coming back again next year.
Great for Bannon to get such a loud MIPIM shout out.
Many thanks to Colm Lauder and the Business Post for the big mention quoted below:
‘Agents Bannon has long championed Ireland’s presence at Mipim through its Great Ireland Lunch, hosted by Neil Bannon and Roderick Nowlan. Now in its 20th year, this event has established itself as the premier Irish market gathering for global institutional investors, playing a significant role in attracting international capital to Irish opportunities. Over those 20 years the need for Irish stakeholders to influence global capital has grown in significance’.
Image taken from The Business Post
Neil Bannon joined Newstalk Bobby Kerr on Down to Business on Saturday to delve into the topic of Dublin retail. Is it experiencing a decline or is it simply a changing of the guard?
Listen to the insightful discussion here.
Our latest Retail Pulse has now gone live. Despite the loss of New Look (27 stores) and Quiz (3 stores) it has been a very encouraging start to the year with a number of retailers already vying for this newly available space.
In our “Expert Insight” section Neil Bannon discusses how “Competitive Socialising” concepts can provide alternative uses in existing retail destinations.
Full report available here.
On International Women’s Day we celebrate the remarkable achievements of the women at Bannon. Their leadership, innovation and passion form part the foundation of our success. Bannon is dedicated to inspiring our female employees, from Jennifer Mulholland and Alex Patterson on the Board of Directors to every level within the company.
This year, we are committed to making a lasting impact by empowering women through education supporting charities dedicated to this cause. For us, International Women’s Day is not just a one-day celebration; it’s a continuous journey towards equality and empowerment.
Alex Patterson, Sarah Fortune, Ashley Pardue, Alison Manning, Emily King and Kate Wolfe attended the SCSI – Society of Chartered Surveyors Ireland International Women’s Day event yesterday. Guest interviewee at the event is entrepreneur, advocate and podcaster Alison Cowzer, Marian Walsh from Carron and Walsh and Anya Llewellyn from Anya Llewellyn Homes and chaired by Lily Eustace.
Another great event organised by the SCSI empowering women in the Property and Construction sector.
Another new opening for Grafton Street with Build-A-Bear Workshop welcoming their first customers to No. 47 this morning.
Thank you to our clients Irish Life Investment Managers for their continued support and joint agents Savills for getting this one open and trading.
For limited remaining leasing opportunities within the portfolio please don’t hesitate to contact Jennifer Mulholland or James Quinlan or our joint agents.
The Bannon team had a great time at the Nexus Table Quiz yesterday evening held by the SCSI – Society of Chartered Surveyors Ireland in McSorley’s pub, Ranelagh.
It was great to see so many companies across the industry involved and we can’t wait for the next event!
Manor Mills is a shopping centre located in the heart of Maynooth, Co Kildare. It is the town’s most popular destination for shopping and dining.
Opened in 2005, Manor Mills offers a modern shopping experience with a diverse range of occupiers. Retailers include Dunnes Stores, Easons, Intersport Elverys, Tiger, Carraig Donn and Paul Byron to name a few. There are also several Food options including Sasta, Costa Coffee, O’Briens and Zambreros. In addition, there is a hairdresser and beautician located in the centre to provide a full range of services to customers.
Manor Mills is conveniently located a short walk from the main street and nearby university. Manor Mills is also in close proximity to the local train station with a bus stop directly outside the Centre.
There is also ample free parking available in the centre’s underground car park.
Manor Mills proudly supports the local community and every year provides support to the local St. Patricks Day Committee, Tidy Towns, Maynooth GAA club and local schools.
Maynooth is a busy commuter town which is designated as part of the greater Dublin metropolitan area. The town has seen significant population growth in recent decades with an estimated population of 15,000. Maynooth is easily accessible to the Motorway network with the M4 Motorway a 5-minute drive and M50 Motorway within a 15 minute drive. The Maynooth area has considerable technological expertise, and the region plays host to some of the world’s leading companies such as Intel, who have established their European Headquarters in Leixlip which employs over 4,000 people.
Are you ready for the May 2025 deadline?
The well documented implementation of the Residential Zoned Land Tax (RZLT) has posed numerous questions regarding the steps to be considered by the owners of land falling within the scope of the tax. Non-developer owners of land which is subject to RZLT, such as private individuals, religious institutions, farmers etc, may wish to apply to have their land rezoned by their Local Authority prior to 23rd May 2025. Subject to satisfying certain criteria such a landowner can claim an exemption from RZLT for 2025 from Revenue. A decision to seek a rezoning can have significant impacts on the future value prospects for such properties particularly in the context of amendments to planning legislation brought about by the Planning and Development Act 2024. Under the 2024 Act the lifetime of Development Plans will be extended to a 10 year lifespan, representing a significant extension from the 6 year lifespan heretofore.
Therefore, landowners who seek to rezone their land to bring it outside the scope of RZLT will face an extended Development Plan cycle should they wish to revert to a residential zoning at some stage into the future. Consequently, the implications of RZLT requires careful and strategic consideration so as to maintain and maximise an asset’s long-term value.
Contact Niall Brereton, Sam Harney and Paul Doyle to discuss appropriate strategies.
Bannon, Ireland’s leading indigenous commercial property consultancy, has announced senior appointments within the business.
William Lambe has been appointed to Director of Property Management; Sarah Fortune to Divisional Director of Property Management; Cillian O’Reilly to Associate Director of Consultancy; and Daniel Murphy to Associate Director of Retail.
Will, Sarah, Cillian and Daniel are pictured with Bannon Chairman Neil Bannon and Bannon Managing Director Paul Doyle.
Paul Doyle commented; These promotions reflect on the professionalism, enthusiasm and client care shown by Will, Sarah, Cillian and Daniel in their respective areas of expertise across the business. We are extremely proud of their achievements and contributions within Bannon which is reflected in these promotions.
Excited to announce the opening of Mamma Mia Gelato at Nutgrove Shopping Centre! A delightful addition to our F&B selection, offering Italian ice cream, crepes, waffles, and bubble tea.
For further opportunities, reach out to Ali O’Gorman or Jennifer Mulholland
Bannon has successfully concluded the sale of a site of 0.50 acres, including buildings, on Gleeson Street in the heart of Athlone.
The property, sold to a local purchaser, will now see a new lease of life to the benefit of the local area. We wish the purchaser every success with their investment.
For development / land opportunities, you can speak with our specialist team of Niall Brereton, Sam Harney and Paul Doyle.
The Bannon team enjoyed a fantastic evening yesterday at the Annual Dinner hosted by the SCSI at the Clayton Hotel. Connecting with fellow surveyors, clients, and industry friends is always a highlight of the event. 🌟
Our latest Retail Pulse has now gone live. In this publication our retail leasing team take a lookback at some of the notable new entrants and new store openings in 2024. Separately in our “Expert Insight” section Neil Bannon looks at the recent economic data and what this is likely to mean for the retail sector for the rest of 2025 and beyond.
Full report available here.
Navan Retail Park located on the outskirts of Navan Town forms part of the Bannon management portfolio. Navan is the administrative centre of County Meath with a population of almost 34,000 (2022 Census) making it the ninth largest town in Ireland, this is primarily due to its proximity to Dublin making it a desired location for commuters.
The 152,000 Sq.Ft retail park was built in circa. 2005 with approx. 1,100 car parking spaces. The park currently houses 9 retail units varying in size. Additionally, the park retains undeveloped land for future growth of commercial space subject to planning permission.
The park is home to many recognised international & national brands such as Homebase, Smyths Toys Superstores, TK MAXX, EZ Living Interiors & Petmania to name just a few. The park is served primarily by car & bus. Access to the M3 Motorway is located 3 km from the park, with a bus park & ride located only 600 metres from the site. This is served by the 109 bus with routes to both Dublin & Cavan hourly during peak times.
Under project Ireland 2040, Navan could be set to re-welcome a train service, serving the town via the M4 Parkway line. Subject to planning & funding it is anticipated this service won’t open until the early 2030’s with many obstacles to over come in the intervening period with a project of this scale. Undoubtedly if this project is completed it will only further bolster both Navan Retail Park and town as a destination for its ever-growing community.
The Dublin office market experienced significant growth in 2024, with total take-up reaching 2.2m Sq.ft., an increase of approximately 780,000 Sq.ft. compared to 2023. This surge was primarily driven by the top 5 deals of the year, 4 of which were in excess of 100,000 Sq.ft. Alongside the pending Workday deal, which will add 425,000 Sq.ft. in College Green, these high-profile transactions point to a potential positive shift in the office market. As international businesses increasingly introduce return-to-office mandates, we’re seeing early signs of a market recovery. With the 5-year average at 1.9m Sq.ft. and the pre-Covid average of 3.15m Sq.ft., the outlook for Dublin’s office market in 2025 is looking promising.
Roderick Nowlan, Julia Halpenny, Cillian O’Reilly
To view the full report, please click here.
Now that the property investment market has “survived until ‘25″, what actually happened in the year just past and what does the future hold? See Bannon’s 2024 Investment Pulse which includes an outlook for the year ahead.
To view the full report, please click here.
The Central Bank of Irelands tracking of Household savings continues to show positive growth reaching €159.6bn in November 2024. This marks a 5.1% year-on-year increase and a modest 0.3% rise from October. In contrast, household debt grew at a much lower rate, up by 2.2% year-on-year, with no change month-on-month. Household savings have increased by an impressive 45% since 2019 and Debt has grown by only 12%. As a result, savings are €56 bn higher than debt. The strong savings position shown by Irish households provides more financial flexibility for consumer spending and a potential for further increase in retail sales.
Exciting news! GasMonkey Barbers has just opened their second store at Artane Place, Dublin 5.
Congratulations to the team on the fantastic fitout, offering the ultimate men’s grooming experience.
Our latest and final Retail Pulse of 2024 has now gone live. In this publication our retail leasing team provide a summary of some of the deals which we completed in 2024. Separately in our “Expert Insight” section Neil Bannon looks at the dichotomy between how the property industry is constantly looking backwards at previous transactions to establish value, whereas investors are only interested in looking forward to the future.
The team at Bannon would like to wish all our clients and the industry at large a very Happy Christmas and a prosperous New Year. Roll on 2025!
Our Retail Pulse is updated monthly and all are available on our website – www.bannon.ie.
Full report available here.
‘Our latest monthly Retail Pulse has now gone live. In this publication our retail leasing team review the various Pop Up shops that are active in the market at this time of year. Separately in our “Expert Insight” section Neil Bannon looks at the evolution of the Christmas trading period and how it is now occurs over an extended period of time and doesn’t present the same level of risk to retailers as once was the case’.
Full report available here.
The Bannon retail team are at MAPIC for the annual retail conference. The International Retail Network (TIRN) cocktail drinks are in full swing with a really positive outlook from retailers for 2025!
Swords Pavilions is where you can meet, eat, sip and shop, all under one roof. One of Dublin’s premier shopping destinations with over 100 global and national retailers to choose from, the centre offers world-class stores and is an unrivalled destination for shopping, dining and entertainment.
The centre has set the aim of being carbon neutral by 2030. It has has already been recognised with various awards for the implementation of a number of eco-friendly initiatives, such as Solar Panels, recycling programs and energy-efficient operations, aligning with modern sustainability goals.
Strategically located near Dublin Airport and just off the M1 motorway, the shopping centre is easily accessible by car, with over 2,000 parking spaces available in the centre. Parking is free for the first two hours in the centre. Swords Pavilions Shopping Centre is a major retail and leisure destination which has grown since 2021 to become one of the most popular shopping centres in the region.
Notable stores include Dunnes Stores, SuperValu, H&M, Zara, Next, TK Maxx, River Island and JD Sports. There are also ample dining options in the centre to include cafes, restaurants, and fast-food outlets, catering to different tastes and preferences. Popular options include Starbucks, Nando’s, Milano, Five Guys, Zaytoon and many more.
The centre also has a 11-screen cinema Movies@Swords, offering the latest movies and a premium viewing experience. The addition of Zero Latency in 2024 offering virtual reality gameplay makes the Pavilions a hub for leisure activities in addition to shopping.
It hosts regular events and promotions, making it more than just a shopping destination. Seasonal events such as ice skating, family-friendly activities, and cultural events often take place, enhancing its role as a community hub.
Overall, Swords Pavilions Shopping Centre is a vibrant and versatile destination, blending shopping, dining, and entertainment to cater for all needs. Its convenient location and various facilities make it a favourite among locals and visitors alike.
Bannon is excited to share that Neil Bannon will be judging the Business Post National Property Summit & Awards 2025. The Awards ceremony will take place on the 27th of February at the Intercontinental Dublin, and will celebrate individuals and organisations from across the entire property industry in Ireland.
Nominations opened Tuesday 12th November, and the comprehensive list of categories will identify the highest level of achievement across both the residential and commercial sectors.
So, enter now and shine a light on the very best in the Irish property sector! – https://nationalpropertyawards.ie/awards-categories/2025/
Join us for the black-tie Awards ceremony on February 27th – https://events.businesspost.ie/event/the-national-property-awards/
The awards keep on coming for the Team in Swords Pavilions. The team had an extremely busy Friday last week collecting a number of awards. These include:
Sustainable Energy Authority of Ireland (SEAI) Energy Team of the Year
Fingal Chamber Business Award for Best in Climate Action
Fingal Chamber Business Award for Business of the Year (large / corporate)
The awards are in addition several others won this year by the team. Congrats to the team in Pavilions. The awards are testament to the fantastic work being carried out in the centre.
Photo taken from Swords Pavilions
A powerful inclusivity programme has been implemented through a partnership with Dungarvan Shopping Centre and The A-Team Dungarvan that provides local assistance to people with autism, ADHD, and all abilities. The goal of the project is to increase accessibility and inclusivity for all shopping visitors. Through this initiative quiet hours were introduced in the centre every Sunday morning, Starbucks, in partnership with The A Team, sponsor a coffee morning for families of all abilities, Easons organised Art Therapy sessions, plus a number of other events all year round.
As part of the 20th birthday celebrations at the centre, it was important to continue the inclusion of all in the community. Representatives from The A-Team had a stand on the day promoting ‘Quiet Time’ by handing out balloons. For the festive season Dungarvan Shopping Centre is sponsoring the Autism friendly Family Walk in Colligan Woods, in December. As part of the Santa Meet and Greet Programme a special sensory Santa time is available for children with Autism, sensory issues or additional needs and their families. To top it off, the centre has autism car spaces available on each level signalled by Sunflower signs 🌻
From the Bannon Property Management Team, well done to everyone involved in such an important and inclusive initiative.
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