Winter Maintenance – Case Study

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Background

The Property Management team at Bannon currently manage over 70 commercial sites across Ireland. The portfolio is made up of Shopping Centres, Retail Parks, Business Parks and Office Parks.

In recent years there has been an unquestionable shift in weather patterns, and this is particularly noticeable in the colder winter months. One such example was the severe weather experienced in February 2018 when Storm Emma hit Ireland. During the course of the storm, we saw significant accumulations of snow across our sites and temperatures as low as –11.0°C.

In any given year we see c.100 million visits to Bannon managed sites across the country and maintaining safe access to these sites is a crucial part of our role as Property Managers. We manage this risk by appointing contractors to carry out gritting services during periods of cold weather and snow clearance when required.

A number of years ago we recognised the obvious synergies associated with managing our winter maintenance services on a portfolio basis. For that reason, we have split our portfolio into three distinct zones (see below) and we tender the contract every 3 years.

Zone 1 – Greater Dublin Area

Zone 2 – South & South East

Zone 3 – Midlands, West & North West

Tender

A sub-team of Property Managers were appointed to oversee the tendering of the Winter Maintenance contract for the portfolio. The following tender process occurred;

Phase 1 – Review of portfolio geography and creation of 3 distinct zones

Phase 2 – Preparation of Request for Tender (RFT) document

Phase 3 – Shortlisting of suitable contractors including a visit to contractors’ facilities

Phase 4 – Issue RFT to shortlisted parties

Phase 5 – Review & analysis of tenders

Phase 6 – Selection & contract award to winning tenderers

In total the RFT was issued to 10 contractors and we received 6 complete tender submissions. The submissions were assessed and ranked based on pre-set criteria. All but one tenderer submitted a proposal for all three zones. The sub-team assessed the proposals and made a recommendation to the directors of the department to appoint three separate contractors (one per zone). This recommendation was followed and the contracts were awarded to the following parties;

Zone 1 – Greater Dublin Area – SAP Landscapes

Zone 2 – South & South East – O’Brien Facilities

Zone 3 – Midlands, West & North West – Ken Fitzsimons Landscaping

Benefits

The benefits of carrying out a procurement process of this nature are far reaching, to include;

  1. Value – The buying power of procuring the same service across 70 sites at the same time.
  2. Service – The inclusion of strict KPI’s in the respective contracts means a consistent approach across the portfolio.
  3. Health & Safety – Once predicted weather conditions meet a certain pre-agreed criteria our contractors will automatically mobilise to all sites and carry out gritting. In so far as is possible we have attempted to remove any subjectivity from the decision-making process.
  4. Insurance – Each appointed contractor has undergone an extensive vetting process to include a detailed review of their insurances.
  5. Administration – The associated burden of managing individual contractors across 70 sites has been significantly reduced.

Overall, we have seen significant benefits in procuring our Winter Maintenance services on a portfolio wide basis.  Our retail clients can enjoy consistency of service across all sites.  With a proactive and data driven approach, we ensure that footfall does not drop and visitor health and safety is managed.

 

Neil Bannon on the Future of Dublin Retail

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Neil Bannon is a leading expert on retail property in Dublin. In the upcoming December 2021 issue of the Dublin Economic Monitor, Neil provides his thoughts on the future of the Capital’s retail core.

In advance of the publication, the below video gives a snapshot of Neil’s views on Dublin’s retail sector and the outlook for the future.

Article by Dublin Economic Monitor 

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.

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.

Shop Local

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The retail industry in Ireland employs c285,000 people. That is 12.5% of the working population. As leaders in the sector, we are very proud at Bannon to manage over 50 shopping destinations across the country. These destinations are home to over 1,100 businesses who in turn employ 10’s of thousands of local people. Supporting trade locally is supporting your local community. As we reset after COVID, make the right choice, shop local.

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.

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 

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

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 

Liability Insurance / Health & Safety

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Bannon would like to extend a big thank you to Ross Barron (Director – Resure Corporate Brokers) and Dr. Paul Cummins (Managing Director – SeaChange) for their recent presentation on Liability Insurance / Health & Safety. It was also great to see such a strong attendance from the on site teams across our portfolio. We all gained some very valuable insights on subjects which play a huge part in our industry.

Bannon Shopping Centre Footfall (2019, 2020, 2021)

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There is an air of positivity coming from our shopping centre & retail park management teams across the country. It has been great to see the rebound in footfall since full reopening of our portfolio on the 17th of May last. The first three weeks since reopening have seen weekly footfall jump back to 86% of the levels seen in 2019. What’s much more significant is the number of retailers reporting May 2021 sales information (a total of 14 days) being ahead of May 2019 (31 days). There is no question that retailers need to see a sustained period of brisk trade but the data so far is pointing in the right direction.

Retail park portfolio’s €78m sale tests investor appetite

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With online shopping having come into its own following the unwelcome arrival of Covid-19, the sale by New York-headquartered Marathon Asset Management of three of Ireland’s best-known retail parks is set to test the post-pandemic appetite of investors for traditional bricks-and-mortar retail.

The Parks Collection is being offered to the market individually or as one lot by joint agents Cushman & Wakefield and Savills at a guide price of €78 million. The portfolio comprises Belgard Retail Park in Tallaght, Dublin 24, the M1 Retail Park in Drogheda, Co Louth, and Poppyfield Retail Park in Clonmel, Co Tipperary.

While the sale of the entire offers the prospective purchaser the opportunity to secure a collection of strongly-performing retail parks and an attractive net initial yield of 8.43 per cent, the portfolio’s assets are expected to see interest on an individual basis also.

Belgard Retail Park, for its part, is regarded as one of the foremost retail parks in the capital. Located on the Belgard Road in Tallaght and 11km from Dublin city centre, the scheme comes for sale fully-occupied and anchored by B&Q, the largest home improvement and garden centre retailer in the UK and Ireland. Other occupiers include Homestore & More, Dealz, Carpet Right, Halfords, Right Style Furniture, Burger King and Starbucks.

While the scheme currently extends to 12,728sq m (137,000sq ft) with 482 car parking spaces, it has planning permission for an additional retail warehouse unit of 2,404sq m (25,877 sq ft) over two levels with 1,409 sq m (15,166 sq ft) of ground-floor space and 995sq m (10,710sq ft) of retail warehouse/storage space at mezzanine level.

The total current rent is about €3.13 million per annum with a weighted average unexpired lease term of 7.3 years. B&Q contributes around 67 per cent of the income on a lease until 2028 with an upward-only rent review clause.

The M1 Retail Park is located 3km west of Drogheda town centre and just off the M1 motorway connecting Dublin and Belfast. It comprises a mix of retail, office and leisure accommodation extending to a total of 24,805sq m (267,000sq ft), along with 600 car-parking spaces. The majority of the development is taken up by retail and leisure (89 per cent) and is anchored by Woodie’s DIY who occupy 4,885sq m (52,585sq ft). The park’s other tenants include Smyths Toys, Sports Direct /Brand Max, Dealz, Equipet and EZ Living amongst others.

The total current rent is €2.44 million per annum with a weighted average unexpired lease term of 8.4 years. Woodies (with lease guarantees from Grafton Group plc) contributes around 40 per cent of the income on a lease until September 2030 with upward-only rent reviews.

The scheme also includes Mellview House, a four-storey building comprising 25,048sq ft of office space, a 30,483sq ft gym at ground floor, basement and mezzanine levels operated by Gym Plus and a number of other smaller retail units. Another building known as the Pavilion is home to Costa Coffee and TC Matthews with a recent new letting to Lanu Medi Spa.

An additional site adjacent to M1 Retail Park also forms part of the Parks Collection sale. The land extends to 27 acres and comprises three adjoining plots with proposed zoning under the Draft Louth County Development Plan 2021-2027 for three uses, namely ‘A2 New Residential’, ‘ C1 Mixed Use’ and ‘ B4 District Centre’.

99% occupied

Poppyfield Retail Park is located 2.5km from Clonmel town centre at the junction of the Cahir Road and the N24. Developed in 2004, the scheme extends to 12,821sq m (138,000sq ft) and comprises a mix of 14 retail warehousing units, a neighbourhood centre and 393 car-parking spaces. The park is 99 per cent occupied and anchored by Woodie’s DIY (with a lease guarantee from Grafton Group plc) and SuperValu. Other high-profile tenants include Harry Corry, Maxi Zoo, EZ Living, World of Wonder and DID Electrical. The neighbourhood centre is occupied by Costa Coffee, Sam McCauley, along with a hair and beauty studio and fish-and-chips operator. KFC also have a drive-through at the entrance to the park which does not form part of the sale.

The total current rental income is €1.43 million per annum and the weighted average unexpired lease term is seven years. Woodie’s and SuperValu contribute around 52 per cent of the income, and have seven and eight years remaining on their respective leases.

Marathon Asset Management acquired the M1 and Poppyfield parks originally as part of a larger portfolio in 2014, which also included The Park, Carrickmines; Lakepoint Retail Park, Mullingar; and the Four Lakes Retail Park in Carlow. Belgard Retail Park was acquired separately.

Marathon has undertaken significant asset management and phased disposal of these assets since then. The latest sale from its Irish retail portfolio was completed only this week and saw a private high net worth investor paying close to €7 million to secure ownership of Lakepoint Retail Park in Mullingar.

The scheme, which is anchored by Woodie’s DIY, is generating total rent of €516,000 per annum giving the purchaser an initial return of just under 7 per cent. The deal was brokered on Marathon’s behalf by Rod Nowlan of Bannon while Declan Bagnall of Bagnall Doyle McMahon represented the purchaser.

Article by The Irish Times 

Neil Bannon on Retail Recovery

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One of the recommendations in our recent report on City Centre retail for Dublin City Council was to improve connectivity between the Retail Core and the Office and Cultural hubs within the City making it easier for City workers and tourists to connect to the shopping areas. Delighted to see the works taking place on Merrion Row and Baggot St which will both improve the pedestrian experience and facilitate on street dining.

Neil Bannon on the Retail Sector

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Dublin Town reporting footfall in the City Centre at 87% of 2019 levels last Saturday, given the lack of Tourists that’s a very encouraging recovery. It will be interesting to see which retailers benefit most from the return of the consumer.

Retail giants poised to land in Dublin

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Retail Giants Poised to Land in Dublin. Neil Bannon commented that “retailers should fill the street by the first half of 2022. We will see Grafton Street pivot away from a UK-dominated high street mix to a more international mix”. Full article available in The Sunday Times.

Bannon Shopping Centre Portfolio – Footfall (2019, 2020, 2021)

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In a normal year we welcome in excess of 100 million people into Bannon managed shopping centres. As is evident from the chart below the last 12 months have been very different. That said we remain hopeful that the end is now in sight and we look forward to seeing the portfolio back to full capacity in the near future.

After the pandemic: in Dublin’s bare city

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After the pandemic: in Dublin’s bare city. Our streets must be reimagined to entice visitors rather than cater to workers. Bannon advises on this in The Sunday Times.

Neil Bannon on the Retail Sector

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The dramatic improvement in the balance sheets of Irish Consumers in the last decade is astounding, savings are up 35% and debt is down 33%, a €70bn nett turnaround. The potential for a positive impact on the retail sector post reopening is clear, the question is where will the money be spent. We are modelling the potential impact on the different retail sub-sectors and expect to see a very different outturn to the 2013 recovery.

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 

Retail in Dublin City Centre 1790-1990

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Are you interested in the history of some of Dublin’s past and present retailers?

Well, the Central Library are hosting a new series by Dublin City Council Historian in Residence Dr Mary Muldowney which takes a look at retail streets like Henry Street and how they have changed over the last 100 years or so. The series features Dublin favourites Arnotts, Clerys, Roches Stores and other major retailers that have disappeared; as well as featuring the small businesses.

In her opening talk on 8 February, Mary introduced us to the history of retail in Dublin City Centre.

The next talk, Shopping in Dublin City Centre 1790-1990. Henry Street and the women who worked there is on 8 March at 7pm.

This lecture will take place on Zoom and, in honour of International Women’s Day on 8th March, it will focus on the women who ran and worked in the many retail businesses on Henry Street.

Article by Dublin City Council

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 

VIEW LETTING BROCHURE 

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.

Shopping Centre Portfolio – Footfall

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In general the footfall across our portfolio is remarkably consistent every year, however 2020 is very different. We remain hopeful that people will shop with purpose when the restrictions are eased at the start of December.
Businesses across the country need a strong finish to the year and we can all help to make it happen.

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 

VIEW LETTING BROCHURE

Neil Bannon on the Imposition of Essential Goods

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The inconsistent and illogical nature of the imposition of essential goods only sales in retail across the country is causing serious damage to the sector.

We have reports from across the portfolio of local Jewellers who are operating on a Click & Collect basis being told to pull their shutter, a news agency being advised that can sell cigarettes and lotto tickets but not books or magazines, a florist being told to close who traded during the last (and more severe) lockdown.

The government needs to think about where this spend will go. A customer told they cannot buy a magazine or a book in a shop that is already open is one click away from redirecting spend from a small local business to Jeff Bezos

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 

VIEW LETTING BROCHURE 

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 

VIEW LETTING BROCHURE 

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 

VIEW LETTING BROCHURE 

Neil Bannon – Retail Recovery

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On the face of it the recovery in the retail sector is astounding. Excluding Cars the value of retail sales in Ireland in July was 5.9% higher than in July 2019. These are boom type numbers. Dig deeper and the continued polarisation of the Retail sector’s recovery is laid bare.

Bars, Books, Fuel & Department stores (Debenhams closure might be a large part of this) are still way down on last year meaning that the increase in sales in other sectors is stratospheric. Electrical up 26.5%, Furniture & Hardware up 20%, Food & Beverage up 16% and this is in comparison to 2019 not the lock down period. Bodes very well for Retail Parks.

Also positive to see 3.6% annual growth in the value of Clothing & Footwear. A note of caution, the natural rhythm of the retail sector has been greatly disrupted by COVID & lockdowns so we will be monitoring how sales in different sub-sectors balance out over the months ahead.

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.

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 

VIEW LETTING BROCHURE

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

VIEW LETTING BROCHURE

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 

VIEW LETTING BROCHURE

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 

VIEW LETTING BROCHURE 

Neil Bannon – Retail on the High Street

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There has been a lot of talk about the future of the bricks & mortar of Irish retail and flagging local retail performances – most of which has been framed through the arrival of online sales.

But is it all as worrying as we’re led to believe?

Neil Bannon, Executive Chairman of Commercial Property Consultancy firm Bannon joined Bobby to discuss how retail is faring in Ireland and ask if all the doom and gloom is actually warranted?

Click here to play via Newstalk website

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

VIEW LETTING BROCHURE

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

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