Retail Healthcheck with Neil Bannon
Neil Bannon joined Newstalk Bobby Kerr on Down to Business on Saturday to discuss what we might do to attract the investment our towns and cities need right now.
To listen to the full podcast, click here.
Neil Bannon joined Newstalk Bobby Kerr on Down to Business on Saturday to discuss what we might do to attract the investment our towns and cities need right now.
To listen to the full podcast, click here.
After many years of engagement McDonald’s will now soon arrive at Rosebank Retail Park in Carrick-on-Shannon. Great to have been involved in delivering another top brand to a very successful retail scheme.
Bannon acted for the owner and JLL Ireland for McDonalds.
Davy Real Estate has appointed Ireland’s largest, domestically owned commercial property consultancy firm Bannon, to manage Harbour Place Shopping Centre in Mullingar. The shopping centre which was opened in the mid-1990s comprises in excess of 100,000 sq. ft. of retail floor space and is anchored by Dunnes Stores. Other notable occupiers include Boots, Paul Byron Shoes, C.R. Tormey Butchers, Carraig Donn, Claire’s Accessories, Peter Mark, Holland and Barrett & Esquires.
Bannon manages over 55 retail shopping centres and retail parks across the country, covering seven million sq. ft. of commercial real estate worth c. €2 billion. As the market leader, Bannon has advised and managed the country’s most notable retail spaces in the last thirty years such as Dundrum Town Centre, Blanchardstown S.C., Swords Pavilions and The Square.
Commenting on the appointment, Director of the Bannon Property Management team, Ray Geraghty said “We are extremely proud to be working with Davy Real Estate on this important asset, and we look forward to working closely with the centre management team and occupiers. This instruction has particular significance for me given that Mullingar is my hometown. The midlands is going from strength to strength and we are proud to be supporting this growth. The appointment further validates the position we in Bannon hold as market leaders of retail property management in Ireland.”
Changing spending patterns saw retail sales in December 2022 fall marginally from November figures indicating the traditional Christmas rush has turned into more of a marathon than a sprint. Annualised figures (excl. motors) show a strong increase in sales values of 7.88% albeit a nominal increase in volumes of 0.16%. This reflects the ongoing price inflation which saw the cross over in the value and volume indexes last year. The data also shows a strong shift away from household and electrical which enjoyed a stellar performance during periods when other retail outlets were closed due to COVID restrictions.
The first Bannon Pulse of 2023 is now live. We look back at the strong level of activity in 2022, highlighted by the large number of lettings and new market entrants. Our occupancy trackers finished 2022 in positive form, as did our trading analysis across the retail categories. Neil Bannon gives his take on the market concluding that, ‘The opportunity for informed investors is to acquire retail assets with robust performance but priced to reflect a negative narrative’.
To view the full report, please click here.
Our final Retail Pulse of 2022 has just gone live. All in all, an exceptionally busy year for the team at Bannon. 2023 is looking very promising for Retail.
Neil Bannon concludes this Retail Pulse with 10 Reasons to be Cheerful about the Retail Landscape in Ireland (page 4).
To view the full report, please click here.
Bannon’s latest monthly Retail Pulse has now gone live. Neil Bannon looks at recent retail sales data to demonstrate how the negative narrative continues to clash with reality.
To view the full report, please click here.
A brand new Zara store will open at Blanchardstown Shopping Centre tomorrow just in time for Christmas.
The store is set to be the largest branch in Ireland and will open its doors and 9am. The fashion retailer’s Blanchardstown outlet has been temporarily closed as they moved to the 52,000sq ft former Debenhams unit in the shopping centre.
A spokeswoman for Blanchardstown Centre said: “The expansive new store will offer the latest womenswear, menswear and childrenswear collections, along with accessories, through a world-class and vibrant in-store experience.
“The new store features the latest technological innovations of Zara’s integrated online and physical store platforms. It is equipped with technological tools to offer customers a unique fashion experience. The store also includes new areas for the latest product lines, such as the menswear Athleticz line (the only one in Ireland), as well as footwear and accessories.”
A busy morning at MAPIC for our retail team Darren Peavoy and Jennifer Mulholland, catching up with retailers and colleagues in The International Retail Network (TIRN).
Great news for the Citywest community. The nationwide restaurant chain, Camile Thai Kitchen has chosen Citywest Shopping Centre for its latest location.
As property managers and letting agents for the centre, we wish Camile the very best of luck as they create new jobs for the local area and become part of this thriving scheme.
Hambleden House
19-26 Pembroke Street Lower
Dublin 2
D02 WV96
Ireland
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Phone: +353 (1) 6477900
Fax: +353 (1) 6477901
Email: info@bannon.ie