Bannon - The Ilac Centre

Case Study

The Ilac Centre
Leasing Agent

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

A joint leasing strategy was implemented from the outset which involved targeting best in class retailers with a focus on international brands to broaden the Centre’s profile. We also successfully engaged with multiple retailers situated on Henry Street, exploring opportunities for them to relocate from the street into the scheme.

There was also importance placed on enhancing the Food & Beverage offerings within the scheme to attract more visitors and increase customer dwell time. In close collaboration with the clients, we initiated a gradual process of improving and diversifying the retailer mix.

The Result

Our engagement has attracted new retailers to the scheme, enriching and diversifying its retail offerings, thereby strengthening its position in the city centre retail landscape. Our joint strategic leasing approach has resulted in many successful lettings to international brands such as Smiggle, The Works, The Flying Tiger and Yours Clothing. The F&B offering in the scheme has experienced significant rejuvenation with the addition of Shake Dog, Ginzeng and Chopped.

Recent notable lettings as joint agents include the new 13,000 sq ft flagship Footlocker store and the successful negotiation of an upsize for Liverpool FC.

Over 10 years on from our appointment as joint agent, Bannon continue to work on refining the retailer mix, positioning the Ilac Centre as a premier retail destination in Dublin city centre.