Shopping centre landlord Hammerson in talks about rents with Irish retailers

Dundrum Shopping Centre

Shopping centre landlord Hammerson — best known in Ireland for its Dundrum, Kildare Village, and Ilac shopping centres — said it in talks with retailers about rents after the closure of its flagship outlets.

It said that its flagship Irish centres have been closed apart from stores designated as essential by the Irish Government, which account for about 25 units or 8% of its Irish rents.

“We are engaged in similar discussions with our brands [in Ireland] to those in the UK ahead of the quarter day on April 1,” Hammerson said.

“In these circumstances, we believe we should support our occupiers, particularly smaller and independent brands that are less resilient to the closure of their space in our centres,” it said.

Hammerson owns a 50% stake in Dundrum Shopping Centre, Ireland’s largest mall, which it co-owns with Allianz. It is also co-owner at the Ilac in Dublin city centre with Irish Life, and controls the nearby 1916 battlefield site. It owns half of the Pavillions in Swords, with Irish Life and Iput owning the rest, and has a significant minority stake in the Kildare Village.