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Bannon Retail Pulse – January 2023

26th January 2023/in News, Reports, Retail, Shopping Centre

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.

https://bannon.ie/wp-content/uploads/Bannon-Retail-Pulse-January-2023_Page_1.jpg 1532 1084 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2023-01-26 17:18:022023-01-26 17:18:28Bannon Retail Pulse – January 2023

Bannon Retail Pulse – December 2022

10th January 2023/in News, Reports, Retail, Shopping Centre

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.

https://bannon.ie/wp-content/uploads/8088-Retail-Pulse-December-2022_Page_1.jpg 1684 1191 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2023-01-10 16:08:312023-01-10 16:08:31Bannon Retail Pulse – December 2022

Largest Irish Zara store to open at Blanchardstown Shopping Centre tomorrow

12th December 2022/in Events, News, Retail, Shopping Centre

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.”

Article by Dublin Live

https://bannon.ie/wp-content/uploads/zara.jpg 539 810 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2022-12-12 14:58:392022-12-12 14:58:39Largest Irish Zara store to open at Blanchardstown Shopping Centre tomorrow

Camile Thai Kitchen is now open in Citywest Shopping Centre

29th November 2022/in Lettings, News, Retail, Shopping Centre

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.

https://bannon.ie/wp-content/uploads/camille.jpg 1030 773 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2022-11-29 11:07:192022-11-29 11:07:19Camile Thai Kitchen is now open in Citywest Shopping Centre

EZ Living Interiors have opened their fifteenth Irish store at The Retail Park Liffey Valley

29th November 2022/in Lettings, News, Retail, Shopping Centre

EZ Living Interiors have opened their fifteenth Irish store at The Retail Park Liffey Valley. The store, which adds to an already impressive retailer line up in the park, is home to over 100 sofa collections, 50 dining sets, 50 bedroom ranges and a divine collection of home accessories, with everything from the timeless to the trendy. With an array of furniture designed and manufactured locally in Ireland, the Irish-owned family business is passionate about supporting Irish jobs, skill and craftmanship.

Bannon are proud to act as Asset Manager, Property Management Agents and Lettings Agents for the scheme.

https://bannon.ie/wp-content/uploads/ez-living.png 720 719 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2022-11-29 11:01:452022-11-29 11:03:06EZ Living Interiors have opened their fifteenth Irish store at The Retail Park Liffey Valley

LUSH is now open in Dundrum Town Centre

29th November 2022/in Lettings, News, Retail, Shopping Centre

It’s been a few years in the making, working to get the right unit on the right pitch … but now it’s open. South Dublin has no excuse not to be smelling lovely with the sustainable, ethical and handmade cosmetics from LUSH.
The new Lush store opened in Dundrum Town Centre and we are proud to be part of the team opening their first flagship for Ireland, complementing Lush’s original Irish stores.
https://bannon.ie/wp-content/uploads/LUSH.jpg 775 1030 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2022-11-29 10:57:542022-11-29 10:57:54LUSH is now open in Dundrum Town Centre

Bannon Retail Pulse – October 2022

14th November 2022/in News, Reports, Retail, Shopping Centre

Occupancy rates continue to improve and retail sales reach an inflection point.

To view the full report, please click here.

https://bannon.ie/wp-content/uploads/Bannon-Retail-Pulse-October-2022_Page_1-728x1030-1.jpg 1030 728 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2022-11-14 10:54:322022-11-14 10:56:20Bannon Retail Pulse – October 2022

Bannon Retail Pulse Report – September 2022

29th September 2022/in News, Reports, Retail, Shopping Centre

Bannon’s latest monthly Retail Pulse has now gone live. In this publication Neil Bannon shares some insights into the ongoing decline of online fast fashion retailers and Darren Peavoy focuses on the rebound in footfall levels which has been seen in Dublin City Centre.

To view the full report, please click here.

https://bannon.ie/wp-content/uploads/7873_Retail_Pulse_Jan_2022_pdf.jpg 530 530 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2022-09-29 14:21:252022-10-06 12:49:15Bannon Retail Pulse Report – September 2022

Penneys is now open in The Square Tallaght

15th September 2022/in Events, News, Retail, Shopping Centre

It is our pleasure to welcome Penneys to The Square Tallaght today. The addition of Penneys is a milestone moment in the history of the Centre.

In the past number of months, we have welcomed a number of new occupiers to the Centre, including a new state of the art cinema. The Penneys opening is another significant investment into the Centre and we wish them every success.

Congratulations to our Bannon team, asset managers Sigma Retail Partners, facilities consultants Evia – Sustainable Facility Services, the centre management team at The Square Tallaght and all who have contributed towards the project.

https://bannon.ie/wp-content/uploads/pennys-705x705-1.jpeg 705 705 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2022-09-15 15:51:182022-10-11 20:05:59Penneys is now open in The Square Tallaght

The Proven Resilience of Ireland’s Community Shopping Centres

14th September 2022/in News, Reports, Retail, Shopping Centre

What is a Community Shopping Centre? 

Community Shopping Centres are characterised by a large supermarket anchor usually occupying over 50% of the scheme’s floor area. The balance of occupiers is typically complimentary or ancillary to the grocery offer, providing daily and weekly convenience needs to serve the local catchment such as butcher, pharmacy, coffee shop etc. These offers typically include local services, food & beverage, and high-frequency of purchase, low-cost retail products. While fashion offers may be included, these will generally be dependent on the catchment and competitive environment. Community Shopping Centres do not have the quantum of space compared to larger schemes to support a destination comparison or fashion led retail experience. 

How did COVID impact on these centres? 

The impact of COVID retail trading restrictions had different effects on footfall levels between shopping centre categories. The prevalence of essential retail uses within Community Shopping Centres meant the impact was relatively minor.  Footfall levels stayed at 80% of pre COVID levels in 2019 and turnover, in many cases, increased as physical retail spend was funnelled into essential services and products only. Comparison led schemes by contrast saw a drop of 40% of footfall during the same period. While the dominance of essential retail in Community Shopping Centres served to preserve footfall during trading restrictions, there has been a significant recovery of footfall over the last twelve months. Footfall levels in Community Shopping Centres are now back to 93% of 2019 levels. 

How will the increase in the cost-of-living impact these centres? 

During periods of recession and high rates of inflation, households still require essential goods and services. An increase in the cost of goods or a decrease in available income will see a larger portion of household expenditure directed towards the purchases of these goods. The net effect is that there is less available spend for want and luxury type goods. As the retail offer in Community Shopping Centres is generally need-focused, these centres are well positioned to perform relatively well and maintain occupier sustainability in difficult market conditions. The reliance on local catchments with short journey times also bodes well for these centres as the increased cost of fuel feeds into decision making for shoppers.

The need-focused nature of many typical Community Shopping Centre occupiers positions this category of centre to hedge against inflationary or recessionary shifts in the retail property market.  

 

Author:                 George Colyer, Surveyor, Bannon

Date:                     14th September 2022

https://bannon.ie/wp-content/uploads/VMA05068-scaled.jpg 1707 2560 Bannon Webpage Admin https://bannon.ie/wp-content/uploads/bannon-logo-trans.png Bannon Webpage Admin2022-09-14 10:34:182022-09-14 10:34:18The Proven Resilience of Ireland’s Community Shopping Centres
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