Case Study
Sligo Retail Park
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
Oaktree purchased Sligo Park in 2016. While the scheme had a strong occupier line up including Homebase, Smyths Toys, Home Store & More and Curry’s, there were several long-term vacant units and upcoming lease events which had the potential to increase the vacancy rate. Bannon were retained to provide strategic advice in relation to achieving full occupancy of the park and possibly adding another key anchor tenant to the scheme.
The Skills
Bannon brought experience garnered from working on similar schemes and knowledge of retailer requirements to assist the owner’s team to develop an asset management and leasing strategy for the scheme. Bannon identified key target occupiers using the team’s market knowledge to identify gaps in the Sligo market and scheme and prepared the required marketing material promoting the quality of the scheme’s catchment and prepared direct meetings with target occupiers.
The Result
Bannon worked with the asset managers to create space for a new anchor flagship 4,210 sq. m. (45,318 sq. ft.) Harvey Norman store which also entailed re-locating some existing occupiers within the scheme to vacant units. We also worked on some retailer re-structures to create space suitable for new occupiers to Sligo Retail Park. Bannon agreed further lettings with Right Price Tiles, JYSK, Maxi Zoo, Screwfix and Snap Fitness so secure full occupancy within the scheme, the first time since its opening in 2005.