The Bannon Property Management Retail Portfolio continues to support local community nationwide. Sligo Retail Park, opened in 2005, is a fully occupied retail park situated on the outskirts of Sligo Town. It benefits from excellent accessibility via the N4 and is just an 8-minute drive from Sligo town centre.
Sligo Retail Park is actively involved in the community, having provided heart defibrillators to local organisations such as St. Molaise Gaels GAA, Benbulben Girl Guides, Yeats United Soccer Club, and Cliffoney Men’s Shed. Additionally, the park supports Sligo GAA by offering parking facilities during events held at Markievicz Park.
The 240,000 sq.ft retail park is made up of 13 retail units, three food and beverage outlets, and a gym. Situated on a site of approximately 30 acres, the park provides over 1,000 surface parking spaces for visitors, including 25 designated disabled bays and 15 parent-and-child spaces. Additionally, 85 of these parking spaces are conveniently located adjacent to the restaurants. The park is also accessible by public transport, with the 471 bus service stopping just a 4-minute walk away.
Designed in an L-shape layout, Sligo Retail Park features three food and beverage outlets strategically positioned near the entrance. The park hosts a diverse mix of international, national, and local tenants, with prominent occupants including Homebase, Homestore and More, Harvey Norman, McDonalds and Smyths Toys.
In the past year, Sligo Retail Park attracted over 1.5 million visitors, reinforcing its status as a premier shopping destination in the North West region.
General Commentary from Executive Chairman Neil Bannon
The conversation around sustainability in the Irish commercial property sector has evolved over the last 12 months. Although everybody was aware of the significance of the challenge last year this has been brought into sharper focus as the various sources of capital in the market have set out their stall. Access to and cost of capital, both funding and equity, is clearly going to be very different for assets depending upon their sustainability credentials. This has been most evident in the office sector where deals continue to be done in new buildings with market leading green credentials both from expanding entities and those relocating form brown buildings. As investor and funders watch this they are becoming increasingly concerned about the risk of obsolescent for older stock and how the value of older buildings will have to reflect the cost of bringing them up to standard.
It is interesting and, we think, helpful to see the conversation move from an aspirational desire to become more sustainable to a clear financial motivation to protect capital. This will accelerate activity in the market as capital positions itself to ensure it is a net beneficiary. Bringing market forces to bear will help our green transition and is a welcome development.
Property Management from Directors Ray Geraghty and Alex Patterson
As custodians of a nationwide portfolio of real estate the Bannon property management team are involved in multiple projects at any moment in time where the focus is sustainability and energy conservation. There is an awareness about sustainability and ESG measures among property owners, funders, asset managers, occupiers, and service providers which is driving positive change.
In the last 12 months Bannon have been involved in some very significant sustainability projects which are now delivering much need energy savings for stakeholders. One such project was completed at Athlone Towncentre Shopping Centre (in conjunction with the SEAI) at a cost of c.€1.6 million. As a result of the project energy consumption at the shopping centre has reduced by almost 50%.
Retail Agency from Directors James Quinlan and Darren Peavoy
Smaller Domestic Retailers are becoming more ESG aware however have not fully embraced the concept. International and national retailers on the other hand have delivered significant ESG improvements across their portfolios with big improvements in solar generation and logistics improvements being a significant focus. Some international retailers are beginning to commit to BREEAM Good fitouts however are seeking significant assistance from owners to deliver this. Some institutional retail property owners are very focused in improving the BER status of their high street portfolios whereas shopping centre owners are very focused on improving energy usage in common areas within their schemes.
Where the ESG agenda was previously being pushed by the owners, we are seeing a shift in this from a smaller group of retailers who require owners to sign up to their ESG agenda rather than the other way round. Retailers are focused on reputation and branding, and they are utilising ESG credentials as a powerful marketing tool. This focus will begin to see a shift in the retail leasing market as it will influence building design and occupier’s expectations.
Valuations from Managing Director Paul Doyle and Director Niall Brereton
The Bannon Professional Services team continues to embrace ESG within our reporting, whilst also complying with RICS Valuation Practice Guidance Notes on ‘Sustainability and ESG in Commercial Property Valuation and Strategic Advice’. This Guidance Note requires the valuer to demonstrate how they have considered sustainability and ESG credentials in their valuation approach, calculations and commentary. This commentary is required to include a reference to potential future cost liabilities to meet regulatory and investor requirements.
In the past year or so we have noted that our building owner client has become much more aware and reactive to ESG. By example, if we are valuing a trading asset the client will most likely have responses to-hand in terms of our standard queries on the energy efficiency or otherwise of their premises. Elsewhere, if valuing an older office premises, a client will likely have a solution modelled to enhance the property’s ESG credentials. In the case of offices we continue to see a widening value gap between older/stranded buildings and those which are ‘B or better’
Investment and Office Agency from Executive Director Rod Nowlan
Sustainability has firmly moved to the top of the investment and office leasing agenda across all size requirements. It is no longer a focus of just the larger lots sizes. Its pursuit will be a key factor in the acceleration of “the big switch” where many office occupiers are beginning to act upon what they now determine is their new office size and style requirement in a maturing blended working market. ESG is a key target in this mix. As a consequence, we are going to see a material acceleration in office obsolescence creating a huge opportunity for those with the skills to efficiently transition these buildings back to the institutional mainstream. In this regard, valuing and selling these assets will require an in-depth analysis of the true costs associated with bringing them up to standard.
Internal from Chartered Surveyor, Sustainability Manager Cillian O’Reilly
Bannon has always had sustainability in mind within the office ever since Joe Bannon himself monitored how many pages were being printed by each team member. The culmination of this was Bannon developing and implementing an ISO 14001:2015 Environmental Management System which was certified by the NSAI in 2022.
Bannon’s Carbon Footprint is relatively low at 78.7 tonnes CO2E in 2023, none the less the firm has taken steps to target and reduce its largest contributors namely electricity usage and commuting milage. Bannon has made huge strides to curate a greener and more efficient workplace and will continue to be a market leader as trends evolve.
Great to see our client Swatch opening their latest international flagship and their first full sized Irish store.
Great to see another exciting addition to The Square Tallaght line-up with the opening of beauty and wellbeing brand, Rituals UK & Ireland, on level 2 last week.
The new store boasts an impressive modern fit-out and offers the full Rituals suite of body care, skincare, home fragrances and wellness products. Rituals is already proving very popular among The Square customer base and we wish them well for the years ahead.
For further leasing queries, please contact Daniel Murphy or James Quinlan.
In recent years, some in the property industry have dismissed ESG as a buzzword or see it as a form of greenwashing. However, ESG has steadily emerged as a critical consideration globally in real estate. Now, Ireland is aligning with this global shift by implementing new legal frameworks aimed at reducing carbon emissions and fostering healthier, more sustainable buildings.
This shift is timely: according to the United Nations Environment Programme, buildings account for a staggering 39% of global greenhouse gas emissions annually. Reducing the carbon footprint of the built environment is vital, and there is growing demand across all sectors for corporate entities to take proactive steps in ESG reporting.
Voluntary sustainability certifications have gained significant traction among investors and asset managers seeking to enhance portfolio performance, particularly in terms of carbon reduction and sustainability. Leading organizations such as GRESB, BREEAM, and Fitwell provide frameworks that standardise and validate sustainability reporting across the real estate sector. Fitwell’s research revealed that nearly half (49%) of building owners are willing to pay a premium for properties that are accredited or demonstrate tangible environmental benefits. Similarly, GRESB’s annual ESG benchmark survey now has over 1,000 participating companies and funds. The U.S. Green Building Council found that LEED-certified buildings generate 34% lower CO2 emissions compared to non-certified properties. For both owners and occupiers, investing in these improvements is essential for futureproofing their assets and leases.
While many companies have voluntarily embraced ESG reporting, this landscape is rapidly changing. The European Union has introduced laws that make ESG reporting mandatory for businesses, asset managers, and property owners. The European Commission’s ‘European Climate Law,’ also referred to as the ‘European Green Deal,’ aims to make the continent climate-neutral by 2050. In support of this, the Corporate Sustainability Reporting Directive (CSRD) mandates sustainability reporting, starting with companies of 500+ employees and eventually extending to smaller enterprises.
At Bannon, in partnership with Evia Sustainable Real Estate, we leverage the power of data to help our clients navigate this evolving ESG landscape and achieve their sustainability goals. Our tailored approach begins with a comprehensive analysis of energy, waste, and water consumption across real estate assets. We specialise in delivering bespoke solutions for the collection and analysis of environmental data, designed to meet the specific needs of commercial real estate portfolios.
As ESG continues to reshape the real estate industry, those who embrace sustainable practices and reporting not only align with new regulations but also gain a competitive edge in an increasingly climate-conscious market.
Authors: Cillian O’Reilly, Chartered Surveyor, Bannon & Alison Manning, Graduate Surveyor, Bannon
Date: 9th September 2024
Don’t miss your chance to attend the Shopping Centre Managers Association Ireland Conference & Expo 2024. It’s the perfect opportunity for shopping centre professionals to gain insights and network with industry leaders.
We are extremely proud to be on board this year as Entertainment Sponsors helping to bring incredible entertainment experiences to the conference. Get ready to enjoy, connect, and celebrate on Tuesday, 17th September 2024, at the Slieve Russell Hotel Golf & Country Club 🥂
As the date draws closer, delegate tickets are selling fast – secure yours now here!
🔗
Our Chairman, Neil Bannon participated in an engaging panel discussion this morning at the Bank of Ireland Commercial Real Estate Breakfast Briefing on how sustainability will impact commercial real estate.
A thought provoking morning focusing on what needs to be done to address the challenge and how Bannon and Evia Sustainable Real Estate are here to help create more sustainable and resilient real estate assets.
A big thank you to Bank of Ireland Corporate and Commercial for hosting the event and for driving these essential conversations.
Our latest monthly Retail Pulse has now gone live. In this publication our retail leasing team focus on leasing activity in new developments.
Separately in our “Expert Insight” section Neil Bannon looks at the importance of a deeper understanding of data (the Relevance of Relativity) and how this is impacting investors appetite for the sector.
Full report available here.
Bannon is delighted to have been retained as the managing agents of Tipp Town Shopping Centre following its recent sale. Bannon has been managing Tipp Town Shopping Centre since 2015 and are excited to be working closely with the new owners.
Anyone who has visited the centre in the last few weeks will already have noticed some changes and a new letting to Card Factory who opened their doors on the 23rd of July last.
Bannon is a leading provider of comprehensive property management services, with a focus on innovation, sustainability, and customer satisfaction. Bannon manages a diverse portfolio of commercial properties and deliver tailored solutions that meet the unique needs of each client.
We are delighted to announce the arrival of luxury jewellery brand Austen & Blake to Henry Street, as they prepare to open their second Irish store.
This exciting addition highlights the ongoing resurgence of high street retail and retailers growing confidence in Henry Street as a premier shopping destination.
Austen & Blake will sit alongside neighbouring brands on the street, including Lovisa Pty Ltd, Pandora, and SWAROVSKI.
We look forward to seeing the store when it opens.
For further leasing opportunities please contact the Bannon retail team.
How fabulous do the ladies look at the Dublin Horse Show yesterday afternoon! Such a wonderful event and we were so proud to get to host again this year 🐎✨
Lovisa opened their new store over the bank holiday weekend in Dundrum Town Centre showcasing an impressive fit out!
This marks another exciting new addition to the centre which has seen significant activity with the recent openings of Mango and Space NK.
For further leasing opportunities please contact Ali O’Gorman, James Quinlan or Daniel Murphy.
Another new store for Petstop in Waterford! The quality of fitout and what is on offer is second to none with an extensive range for all your pet needs. Congratulations to all the team and we wish you the best of luck 
Image by: Petstop
Pandora opened their doors in Marshes Shopping Centre, Dundalk on Friday. The fit out is fantastic and this international retailer is a great addition to the strong occupier mix. There was a real buzz around the shop over the weekend and the brand is being warmly welcomed.
For remaining lease opportunities, please don’t hesitate to contact Jennifer Mulholland or Ali O’Gorman.
Our latest monthly Retail Pulse has now gone live. In this publication our retail leasing team review activity during the first half of the year.
Separately in our “Expert Insight” section Neil Bannon looks at the ongoing juxtaposition between the replacement cost of retail developments and recent Economic and Social Research Institute (ESRI) population projections. To put it simply the value of almost all existing retail assets is less than the cost of creating a new equivalent. For this reason, one must assume that there is unlikely to be any new retail stock of any significance for the foreseeable future and the demand for existing stock is likely to remain high.
Full report available here.
Bannon were delighted to host a CPD session this morning in conjunction with BHSM LLP. The well attended session gave an overview of current GDPR legislation and its application to commercial property environments. GDPR legislation is in place to protect individuals’ privacy in a digital age and foster a culture of data security along with respect for personal information.
It was great to see so many taking a keen interest in a crucial property management topic.
Thanks very much to BHSM LLP for the interesting and informative CPD and all those who attended from Bannon managed sites.
We at Bannon would like to congratulate Ian Hunter and the team at Swords Pavilions who have been shortlisted in the upcoming Sceptre Awards for Sustainability Initiative of the Year and Manager of the Year showcasing all the ongoing hard work in the centre.
Such a great achievement and we wish the team the very best of luck!
It has been a pleasure to be involved in delivering many of these deals for our client Hammerson. Both Lane7 and Rongcheng will be great additions to the Pembroke District F&B and Leisure offering.
A busy few days for the Bannon Retail team touring Liverpool, Manchester and Birmingham looking at new retail and leisure openings and getting a handle on new market trends!
Thank you to our clients Hammerson for kindly arranging an excellent and very informative tour of Bullring & Grand Central Birmingham with Dan Murphy and Ruth Amor yesterday!
Delighted to see EZ Living Furniture open their doors in Drogheda Retail Park yesterday! Another fantastic brand addition to an already impressive line up.
For further letting opportunities, please contact James Quinlan.
The Bannon team took part in the Nexus 5-a-side Soccer Tournament at Pembroke Hockey Club last Friday held by the SCSI – Society of Chartered Surveyors Ireland.
It was great to see so many companies across the industry battling it out.
We are already looking forward to the next game! ⚽
A 6.8% reduction in Ireland’s greenhouse gas emissions in 2023 marks another vital step towards a sustainable future. However, there is still a long way to go to achieve Ireland’s climate ambition of a 51% reduction by 2030. At Bannon, we are proud to contribute to this effort, reducing our carbon footprint by 29% in 2022 and achieving an additional 5% reduction in 2023.
The retail team track the evolution of Occupiers on Grafton Street whilst Neil Bannon highlights the positive indicators that suggest a benign outlook for retail sales.
To view the full report, please click here.
A surprisingly positive set of Capital Market figures this quarter, suggesting the shifting interest rate backdrop is starting to prompt renewed interest in real estate. Check out this quarter’s turnover statistics in detail and if you have any questions don’t hesitate to contact any of the Capital markets team including Roderick Nowlan, Brian Morton and Cillian O’Reilly.
To view the full report, please click here.
Q2 saw a very positive pick-up in office activity with take-up reaching over 870,000 sq.ft., a material increase on the mere 197,000 sq.ft. transacting in Q1. These figures were boosted by the inclusion of the sale of the 182,340 Sq.Ft. long vacant Seamark office Building in Elm Park which we understand was bought by the HSE for a step-down facility. In addition, in excess of 150,000 Sq.ft. of space was assigned to Stripe at Wilton Park, representing the first sign of large scale prime ESG take-up since covid. More importantly it is the first sign of the TMT sector beginning to become active again. This currently dormant sector usually represents approx. 50% of take-up Dublin figures as opposed to just 27% this quarter.
The average deal size in Q2 was 16,877 sq.ft. increasing from 5,640 Sq.ft. in Q1 and 7,774 Sq.ft. in the same quarter of 2023. As seen in previous quarters, small floorplates continue to dominate deal numbers with 22 transactions (out of 52) occurring in the <5,000 Sq.ft. bracket. This part of the market has actually remained relatively stable since the return to the office post-pandemic. Heading into Q3, there is still in excess of 500,000 Sq.ft. of space reserved, which creates some momentum for the second half of the year.
Another very enjoyable day spent in Willie Bermingham Place, Kilmainham for the Bannon Property Management team volunteering for ALONE, a fantastic national charity that enables older people to age at home and one which Bannon is delighted to support each year.
We had the pleasure of having Brendan O’Brien of Dublin City Council, Head of Technical Services in the Environment and Transportation Department in our office today discussing the new Dublin City Centre Transport Plan followed by a variety of delicious food by Sweet Cicely.
An Bord Pleanála has recently granted approval for two BusConnects Core Bus Corridor Schemes from Liffey Valley to City Centre, and from Bellfield/Blackrock to the City Centre. These approvals mark significant milestones as the first of twelve proposed routes under the National Transport Authority’s BusConnects Dublin project to secure planning consent.
Further Bus Corridor improvements schemes are also planned for Cork (eleven routes) with preliminary route studies also underway for Galway, Limerick and Waterford.
It is expected that all twelve Dublin corridors will be completed by 2030, with the first construction contracts to be awarded at the end of 2024 and on-site construction commencing in early 2025.
Following An Bord Pleanála’s approval of the schemes the National Transport Authority (NTA) is likely to commence the formal compulsory acquisition process of the land required to facilitate the scheme works from individual landowners.
The next stages in the CPO process are likely to be as follows:
Under current legislation, an acquiring authority has a period of up to 18 months in which to serve a Notice to Treat in respect of the lands
which they intend to compulsorily acquire. However, in this instance it is likely that the NTA will instigate the Notice to Treat in the short term given that construction is scheduled to commence next year.
The Notice to Treat is a very important document insofar as it establishes the acquiring authority’s right to acquire the land and it copper-fastens the landowners’ entitlement to compensation. It also has the following effects:
Following service of the Notice to Treat, the acquiring authority can subsequently serve a notice of entry and become the de-facto occupier of the land and allow construction works to commence notwithstanding that a sum of compensation may not yet have been agreed let alone paid to the claimant.
Importantly, impacted landowners should note that the NTA is obliged to pay the reasonably incurred professional fees of the landowner in dealing with the CPO process. Professional advice may be sought from multiple disciplines such as Town Planning Consultant, Consulting Engineer, Solicitor and Chartered Valuation Surveyor, depending on the nature and quantum of the land acquisition.
Given the scale of the BusConnects project across Ireland’s main cities, property professionals can expect a surge of enquiries from affected property owners over the coming months.
Niall Brereton is a Director of Professional Services in Bannon Chartered Valuation Surveyors & Property Consultants
Insightful discussions at this morning’s sustainability talk hosted by AIB. Alex Patterson got to hear from Goodbody Clearstream and Sustainable Energy Authority of Ireland (SEAI) on the importance of the 2030 targets and the crucial steps businesses should take to start their sustainability journey. This was followed by a panel discussion with owners of Brennan & Co. and Magee & Co. on where their businesses are on their sustainability journey.
We are proud at Bannon to share that since we embarked on our sustainable journey, we have reduced our carbon footprint by 78.7 tonnes.
What a fantastic team building day out yesterday walking through Ticknock Forest finishing up with a tasty meal at Johnnie Fox’s Pub.
A huge thank you to our social committee for organising such a great event and we look forward to many more team building adventures in the future! 😄
Congratulations to two members of our team, Cillian O’Reilly and Jamie Brindley for being formally elected as Professional Members of the SCSI – Society of Chartered Surveyors Ireland following their APC graduation last Friday! 🎊 This is a significant achievement, recognising their expertise and professionalism in the field.
Rent Reviews are one of the key commercial events within commercial leases.
The Rent Review process is highly detailed with the wording of the Rent Review Clause setting the parameters and assumptions that are to be adopted for assessing the level of rent applicable at the Review Date.
In undertaking Rent Review instructions on behalf of our clients, Bannon provides unrivalled technical skills and expertise utilising an in-depth insight into and knowledge of the commercial property market.
While Bannon endeavours to reach negotiated settlements in each instance that they are engaged, this does not always prove possible. The Rent Review Clause provides a mechanism of Third-Party adjudication should there be a failure to reach a negotiated settlement.
This can take the form of Arbitration or Independent Expert. Bannon has extensive experience in representing both owners and occupiers in these proceedings. They can take the form of written submissions and counter submissions or attendance at an oral hearing.
The depth of experience in our rent review team:
Director, Des Byrne, is one of the most experienced rent review experts in Ireland. He also has significant experience in the area of Arbitration, as well as acting as advocate and expert witness in third party rent review disputes. Des is actively involved with the RICS Ireland and is the current Chairman. Des has previously served as President of the Society of Chartered Surveyors in Ireland (SCSI) and as Chairman of the General Practice Division of the Society.
Divisional Director, Ben Semple, is a Chartered Surveyor and RICS Ireland Registered Valuer and is involved in Rent Reviews for Dundrum Town Centre on behalf of Crossridge Investments and the provision of general property and acquisition advice to MRPI.
Managing Director, Paul Doyle, has 28 years’ experience in all aspects of commercial property, including rent reviews. Paul’s rent review experience has been across the sectors, representing both occupiers and owners through negotiated settlements and also at Arbitration.
Director, Niall Brereton, is a RICS Registered Valuer and undertakes valuations in full compliance with ‘Red Book’ standards.
Bannon is delighted to have been retained as Property Managers for The Mill Shopping Centre in Clondalkin following the recent sale. The Mill is a popular Shopping Centre located in the heart of Clondalkin Village. We are looking forward to working with the new owner on this instruction.
Our latest monthly Retail Pulse has now gone live. In this publication our retail leasing team highlight Irish occupiers and franchisees with ongoing expansion requirements.
Separately in our “Expert Insight” section Neil Bannon looks at recent household net worth data from the Central Bank of Ireland and the impact that a reduced gearing ratio may have on retail spend.
To view the full report, please click here.
One week on from our Property Management Conference, we’re still buzzing from the inspiring discussions and thought-provoking insights shared by our esteemed keynote speakers; Adam Harris (AsIAm – Ireland’s Autism Charity), Dr. Paul Cummins (SeaChange Ltd.), Ian Hunter (Swords Pavilions Shopping Centre), Shirley Delahunt (Athlone Towncentre), Jack Martin (The Square Tallaght) and Adam Merriman (Evia Sustainable Real Estate).
Here are some of the highlights of the day📽
What a great day at our inaugural Property Management Conference, held at Castleknock Hotel building a future focused retail environment prioritising accessibility, sustainability and health and safety.
We would like to thank our keynote speakers Adam Harris (AsIAm – Ireland’s Autism Charity), Dr. Paul Cummins (SeaChange Ltd.), Ian Hunter (Swords Pavilions Shopping Centre), Shirley Delahunt (Athlone Towncentre), Jack Martin (The Square Tallaght) and Adam Merriman (Evia Sustainable Real Estate) for their insightful discussions on how we are embracing change.
A final thank you to the Bannon team for the work behind the scenes to make this day of networking and idea sharing happen.
𝗧ogether 𝗘veryone 𝗔chieves 𝗠ore (𝗧𝗘𝗔𝗠)
What a wonderful achievement! We want to congratulate the accomplishments of two exceptional members of our team, Cillian O’Reilly and Jamie Brindley, on passing their APC Final Assessment and becoming Chartered Surveyors and members of the SCSI – Society of Chartered Surveyors Ireland and RICS! It’s a testament to their hard work and dedication to their profession.
OAKBERRY have recently opened their second Irish store in Blackrock, Dublin.
Oakberry, the world’s leading providers of Acai Bowls with over 700 stores worldwide, have officially opened their doors on Blackrock’s Main Street. The brand is committed to bringing health-conscious, delicious options to their customers, with other locations due to open in the coming months.
Bannon are now seeking opportunities nationwide for openings in Q3/Q4 of this year. If you have any potential locations in mind, please don’t hesitate to reach out to Mark Hayden or Daniel Murphy.
The Harcourt Building is an iconic 60,000 sq ft piece of office real estate in Dublin city. It features two retail units on the ground floor and boasts occupiers such as Investec, Bloomberg, Starbucks, and Foody’s Pharmacy. Led by Sarah Fortune, Bannon has been appointed as Property Managers for this prestigious asset.
Sarah has an in-depth knowledge of the building having originally managed it in 2007. She brings dedication and an exceptional office management service that will benefit both occupier and owner as the building undergoes significant capital expenditure. This includes a major refurbishment of the bespoke glass lifts and a comprehensive review to increase the building’s BER (Building Energy Rating), ensuring a sustainable future.
The Harcourt Building marks the addition of another property to the expanding Bannon office portfolio and we look forward to delivering a high standard of management services.
In a world of constant change, taking on a new path can often feel like embarking on a journey of a hundred steps. Each step is a new challenge, opportunity to grow both personally and professionally, a chance to learn the new skills. As someone who has made the leap of faith from the mountain of hospitality to the dynamic field of commercial property management, I can vouch for the transformative power of such a transition.
My journey began in the financial sector – until the financial crisis struck and I had to explore another opportunity. The road to a new stage of my life led me to Ireland, where I have began my journey in the hospitality business, perfecting my skills in customer service, operations management, and team leadership. Years of perfecting my skills were recognised in a number of professional achievements and honoured by Irish Hospitality Institute award in 2019 for the best ‘’Food and Beverage Manager of the Year’’. While I thrived in the fast-paced environment, I found myself drawn to the field of property management – a field where attention to detail, customer relationships and strategic thinking are paramount.
The decision to make this move from the hospitality business to commercial property management was not made easy. It required careful consideration, self assessment and willingness to make a leap of faith into the unknown. However, I was determined to make a change and explore new avenues of professional growth.
With guidance from my colleagues, the first steps were to acquire all the necessary technical knowledge and skills in commercial property management, occupier and owner relations and lease agreements.
However, the career change from hospitality to commercial property management was not just about technical knowledge – it also required a shift in my mindset. While the hospitality industry focuses on creating experiences for guests, property management is focused on creating value for owners and occupiers. This shift in perspective allowed me to leverage my background in hospitality to enhance the user experience, improve engagement with suppliers and drive service standards across the portfolio.
Another important step on my professional journey was building a professional network and relationships in the real estate industry. I actively participated in networking sessions and attended industry events. By making professional connections and expanding my knowledge base I became more confident in my line of work.
As I progressed on my journey, I encountered numerous challenges and setbacks. From managing complex maintenance contracts to navigating complex lease agreements, each challenge presented an opportunity to learn and develop. By going through this experience, I was able to overcome all obstacles and gain confidence in my abilities.
Today, as I reflect on my journey from hospitality to commercial property management, I am grateful for the experiences that have shaped me into the real estate professional I am today. While the transition may have been daunting at times, it has been immensely rewarding.
In conclusion, the transition from hospitality to commercial property management is not just a career change—it’s a rewarding 100 step journey. So, take that first step and embark on your journey—you never know where it might lead you.
Author: Alex Staskunas, Property Manager, Bannon
Date: 7th May 2024
The next phase of openings in The Crossings @ Adamstown is under way! Urban Vets and THE GRAFTON BARBER have now opened their new stores, in what will be the new Village Centre for the Adamstown area. They join Tesco and Aldi who are already open and trading. The Urban Vets and Grafton Barber additions are the start of the 20 further retail and food units which will make up The Crossings.
Demand for the scheme has been strong and we are excited that more lettings will be announced very soon. We look forward to seeing more stores opening and the creation of the Village Centre which will become a hub for the wider Adamstown community.
For more information on the few remaining units feel free to contact Darren Peavoy or Mark Hayden.
Great to see The Pantry now open and trading in The Swan Shopping Centre, Rathmines. A really nice brand providing a high quality food offer to compliment the existing tenant mix. Further new store openings to be announced in the coming weeks.
We have limited space remaining, please don’t hesitate to get in touch with Jennifer Mulholland to discuss any requirements.
Our latest monthly Retail Pulse has now gone live. In this publication our retail leasing team focus on the Food & Beverage sector and in particular the most active brands in the market place.
Separately in our “Expert Insight” section Neil Bannon looks at the most recent CSO data, specifically retail sales, inflation and household savings. Are Irish consumers ready to break open the Piggy Bank?
To view the full report, please click here.
“Barringtons Hospital is an iconic and historic feature of Limerick City Centre, in use as a hospital for close on 200 years”
Bannon is pleased to offer Barringtons Hospital in Limerick for sale with Vacant Possession and with an element of the current medical fit-out remaining in-situ. The sale of the fully operational 53 bed private hospital comes as our client, Bon Secours Health Systems CLG, relocate to their new state of the art 170 bed hospital facility in Ballysimon, Co. Limerick in 2025.
This unique sale offers a new owner the opportunity to carry the mantle of Barringtons into its next phase. Barringtons Hospital extends to a total of 54,638 sq.ft with a mix of modern and protected interconnecting structures and would suit a variety of uses including medical/hospital/health/surgical hub. Alternatively, given its central location and large footprint, the property could suit uses such as a hotel, educational facility or residential, subject to planning permission.
For further information, please contact Daniel Murphy, Paul Doyle or Neil Bannon on 01-6477900.
The Bannon Retail Team at Completely Retail Marketplace today with good interactions and positive discussions taking place with retailers looking to expand.
James Quinlan Darren Peavoy, Jennifer Mulholland and Daniel Murphy
Bannon would like to extend a big congratulations to Christine Dolan on being named 𝐀𝐥𝐥-𝐒𝐭𝐚𝐫 𝐒𝐡𝐨𝐩𝐩𝐢𝐧𝐠 𝐂𝐞𝐧𝐭𝐫𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐏𝐞𝐫𝐬𝐨𝐧 𝐎𝐟 𝐓𝐡𝐞 𝐘𝐞𝐚𝐫 𝟐𝟎𝟐𝟒 by the All-Ireland Business Foundation. Your hard work and dedication as a Centre Manager at Quayside Shopping Centre Sligo have not gone unnoticed, well done on this well-deserved recognition!
Bannon is very proud to be working with fantastic Centre Management teams across a wide network of shopping centres and retail parks.
Full Article Published by All Ireland Business Times
Bannon is pleased to bring the former Monastery and agricultural lands at Esker, Athenry, Co. Galway to the market on behalf of the Redemptorist Order. The extensive and historical building complex is situated on 173.5 acres and is available in multiple lots.
Niall Brereton comments that the scale of the existing buildings and landholding could lend itself to a multitude of potential uses in the leisure and hospitality sectors. Thanks to Ronald Quinlan for the coverage in today’s The Irish Times.
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