Bannon - Marshes Shopping Centre, Dundalk

Case Study

Marshes Shopping Centre, Dundalk
Leasing Agent

The Task

Marshes Shopping Centre, Dundalk is the prime retail destination of the North East of Ireland. The Centre anchored by a 9,930 sq m Dunnes Stores and 6,660 sq m Penneys comprises 36 retail units, a food court and 5 kiosks, along with a 1,641 space surface car park . The total Centre extends to 29,960 sq m. Marshes was originally constructed in 2005 and was subsequently sold to Kennedy Wilson in 2014 and more recently to Davy in 2023. Bannon was initially appointed as joint leasing agents in 2009 in the middle of global financial crisis. Our mandate was to bring stability to the Centre, underpin the rental income of the asset and increase occupancy levels of the scheme during the economic downturn.

The Skills

Bannon on appointment developed a “Leasing Sales Story” for Marshes as an explanation to occupiers as to why they will profit by occupying a store in the Centre. Using our expertise, we set about changing the retailer mix from principally one targeted at young fashion comparison shoppers to a more diverse mix in order to draw more available spend from the catchment whilst at the same time widening its regional appeal.

The Result

The Marshes has grown from strength to strength in recent years and is the number one retail destination of the North East. Our involvement has brought new occupiers to the scheme, enhanced, and diversified the retail mix and as a consequence improved its regional draw. Whilst diversifying the mix we carried out new lettings to Peter Mark, Therapie, EuroGiant, Vodafone, Eir, The Grafton Barber and Starbucks. Enhancing the appeal of the Centre we built on positive retailer additions creating a new MSU for H&M and delivered a new flagship letting to JD Sports.

The scheme now delivers an excellent combination of international and national brands. 2023 and 2024 lettings have seen further international signings with Rituals and Pandora. Bannon remain committed to ensure Marshes Shopping Centre is an acquisition priority for occupiers seeking to expand.