Future looks good for 1/3 of Ireland's Retail Parks
27 July 2012
“2012 – 2013 will see big name retailers from the UK and elsewhere expand their current retail offerings in parks throughout Ireland. This is according to new research from Savills Ireland which looked at Ireland’s retail park market and say that current high quality retailers in high grade parks are understood to be in the midst of expansion plans. These big names include DFS, Boots, Dealz (Poundland), Ez Living, and Halfpenny Golf.”
There is and continues to be a strong trend that any new entrants to the Irish retail park market are seeking and occupying space in predominantly prime retail parks. This reflects the fact that space in prime parks is now more affordable and the tenant mix is stronger, with an established footfall level. This is according to the latest research report from Savills Ireland which reveals that while the future looks promising for what are considered “prime” retails parks, prime-secondary and particularly teritiary parks will continue to face challenging periods in maintaining rents and occupancy for the rest of 2012 and into 2013.
According to Bernadine Hogan, Associate, Retail, Savills Ireland, “ There is and continues to be a strong trend that any new entrants to the Irish retail park market are seeking and occupying space in predominantly prime retail parks. Demand is currently led by quality of retail park, its location, availability, details of specific unit and rental deal available”.
Savills says there has already been some interesting lettings in 2012;
DFS taking approx. 1,950 sq m of ground floor space in Blanchardstown Retail Park
EZ Living taking approx. 1,073 sq m ground floor space and approx. 557 sq m of mezzanine space in Airside Retail Park
Next taking approx. 1,300 sq m of space in Carrickmines Retail Park