Case Study
Nutgrove Shopping Centre
Leasing Agent
Address
Hambleden House
19-26 Pembroke Street Lower
Dublin 2
D02 WV96
Ireland
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Contact Us
Phone: +353 (1) 6477900
Fax: +353 (1) 6477901
Email: info@bannon.ie
The Task
Nutgrove Shopping Centre in Rathfarnham first opened in October 1984. The centre has nearly 1,000 free surface car parking spaces, 70 shops and 5 restaurants with anchor tenants including Tesco, Dunnes Stores, Penneys, Argos and a McDonalds which was Ireland’s first ever drive thru restaurant.
Bannon were appointed as joint agents with Lambert Smith Hampton in 2016 and sole agents in 2018. Our task was to decrease vacancy, increase customer dwell time and bring new and diverse brands to the centre.
The Skills
Bannon adopted a multi-disciplinary approach by combining property management and leasing expertise to advise the client on options to best deal with the vacancy. Bannon identified the positive potential of repurposing the vacant first floor retail space to an alternative use. Through market analysis, office space was identified as a viable alternative.
Bannon analysed the existing retailer mix on the ground floor and identified underrepresented uses in the scheme. There was emphasis placed on diversifying the mix and attracting further non-fashion uses and international brands.
The Result
Bannon have successfully enhanced the retailer mix as a result of the lettings concluded with Lifestyle Sports, Skechers, The Works, Card Factory and The Pantry. By leasing the previously vacant retail units on first floor as office space, Bannon not only increased diversification in the scheme but also helped reduce the void costs significantly.
The introduction of office space also led to an increase in dwell time which assisted in attracting new F&B occupiers to the scheme. The transformation has yielded positive outcomes for the entire scheme and expanded the reach of MacDonagh’s customer base.
Bannon continues to develop the retailer mix through strategic leasing to ensure MacDonagh Junction remains an essential part of Kilkenny City Centre.