Case Study
The Square, Tallaght
Retail Lettings
Address
Hambleden House
19-26 Pembroke Street Lower
Dublin 2
D02 WV96
Ireland
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Email: info@bannon.ie
The Task
With the closure of the Cinema operator and Debenhams in The Square our client needed a strong team to secure the right occupiers for 11,150 sq. m. (120,000 sq. ft.) of newly vacant space. Various subdivisions of the space were considered for a host of occupiers however the client’s target was to secure the premier value fashion retailer in the market, Penneys, and a best-in-class cinema operator, Movies@.
The Skills
Data was key to achieving these lettings. Penneys and Movies@ were not actively expanding at the time. Without access to the market data from the Bannon research team it would have proven difficult to make the strong business case for both of these occupiers to commit. Comparing other locations they trade in and demonstrating the clear business opportunity The Square represented was key. A lengthy negotiation process led to heads of terms being agreed and legals exchanged within a tight timeframe.
The Result
Over the space of 9 months we engaged with Penneys and Movies@ to commit to The Square. Movies@ are now open and trading well with Penneys due to open in Q3, 2022. The successful completion of the biggest Irish retail leasing transactions of 2021 with a combined total floor area of 11,150 sq. m. (120,000 sq. ft.) repositioning The Square as a super-regional centre drawing from a significantly wider catchment than the previous occupiers.
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