Dún Laoghaire Shopping Centre is planning a €10 million redevelopment in a bid to attract a new anchor tenant.
The centre’s owner, Coltard, is seeking planning permission to renovate the property to create two large anchor stores fronting on to the Dublin harbour town’s Marine Road and George’s Street. The work is estimated to cost €10 million and, if Dún Laoghaire-Rathdown County Council gives it the go-ahead, should be finished at some point in the second quarter of 2017.
Anchor tenants
According to
Jason Miller
of the centre’s agents and property manager,
Murphy Mullhall
, potential new anchor tenants should be able to move in ahead of Christmas next year.
Mr Miller said the centre is generating a profit but its backer believes it needs a new direction that will assist it in attracting more business at weekends.
Trade is strong between Monday and Friday, he said, but shoppers tend to go to other centres over the weekend. The addition of new anchor tenants is designed to counter this.
“It should result in more footfall and earn more money for the centre as a whole,” he said.
Potential interest
He added that some potential tenants had indicated their interest in moving into the centre once the work is complete.
Mr Miller's colleague, Robert Murphy, said the property received an extensive internal renovation in 2009 and described the current proposals as the final piece of the jigsaw.
Dún Laoghaire Shopping Centre has a yearly rent roll of €2 million. Grocery chain SuperValu currently anchors the property, while other tenants include New Look, Specsavers and Lifestyle Sports. Tesco Ireland, the local arm of the British retailer, has its Irish headquarters in a 40,000sq ft office above the centre.
