Case Study
Bray Retail Park, Bray, Co. Wicklow
Leasing Agent
Address
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
The Task
Bray Retail Park is a Grade A asset comprising retail warehouse units and a separate, free standing creche facility across 9,729 Sq. M. The accommodation comprises 8,988 Sq. M. of retail warehouse area across six units and a 741 Sq. M. creche. Bannon have been instructed as the sole leasing agents on Bray Retail Park since it was acquired by Sigma Asset Management in 2016.
The Skills
Bray Retail Park has had limited tenant turnover since it was first developed in 2005/2006, with the majority of the current Occupiers contracted into lease agreements which will expire in 2030. Bannon’s role has primarily involved ensuring the retail park remains at the forefront of the retail landscape in Wicklow. Bannon advised our client on the strategic sale of a 0.12 acre site to Costa Coffee, which has had a positive impact on dwell time, footfall and the overall presentation of the scheme.
The Result
85% of income from Bray Retail Park is linked to home focused goods (homewares, DIY, electrical goods). This sector has enjoyed strong sales performance over recent years, and the recovery following the reopening of the sector after Covid closures has seen sales perform above pre Covid levels.
It is anticipated that the targeted housing growth identified for the catchment should be supportive of the Bray Retail Park retailers as new occupiers entering homes generate local demand for these products. The creche facility delivers strong community engagement and consistent weekly visits to Bray Retail Park.