Cork's Pana retail revitalisation gets a setback by Penneys decision
Penneys, Patrick Street
While efforts to revitalise Cork City's St Patrick's Street continue with a series of developments set to bring new life to the area, one of the street's main tenants has confirmed plans to scale back major expansion plans.
Fashion retailer Penneys said it will trim its long-awaited €60m expansion, which would have seen the retail space grow by almost 50%, marking a blow to the improving retail scene for Cork's St Patrick's Street.
A spokesperson for the company said that while they remained committed to transforming the store, the scale of the development would be reduced, with a new planning application set to be submitted for the works.
Following the pandemic, several high-profile closures sparked worries for the city, with retail giants Debenhams, TopShop, and, more recently, New Look all closing their city centre stores.
However, recent months have seen an overall improvement, with the arrival of several new fashion retailers adding to the momentum.
But Penneys' decision to downscale its original plan serves as the latest blow for the changing city, with the cutback linked to several factors, including the length of time it took to clear planning hurdles.
The application to expand was lodged in 2021, but final clearance wasn’t obtained until November 2023, as it went to An Bórd Pleanála (now An Coimisiún Pleanála).
Construction costs have also increased significantly during this time.
The fashion retailer also spent €4m revamping its Wilton Shopping Centre store, which was completed last September.
While its St Patrick’s St expansion plan has been rolled back, it will still involve “significant investment”, the spokeswoman said.
The scaling back also raises questions about neighbouring properties, such as the former AIB building, which was predicted to be taken over by the retailer as part of its initial growth plan.
With a €3.5m price tag, the former bank building at No 26 St Patrick’s Street remains on the market.
But as Penneys takes a step back from its major expansion, a series of new retailers are set to open on the street in the next few months.
Mango's new store on Cork's Patrick's Street replacing the former Quills premises.
The new store will operate out of 101 St Patrick’s Street, which has been empty since the 2019 closure of women's store Dorothy Perkins-Evans.
Meanwhile, momentum is picking up at Debenhams, with a planning application recently lodged for the redevelopment and reuse of the former Roches Stores.
The phased development will take place across two blocks, A and B, with four individual units, located within Block A, forming part of the planning application. Proposals for the remainder of the former department store, including the service yard to the rear and the properties of 38-40 Maylor Street, will form part of a separate, later application.
Fortunes for Cork City's main street have improved in recent years following the closure of Debenhams and other long-standing retailers since the pandemic, with the arrival of Spanish fashion giant Mango and the more recent opening of Seasalt Cornwall breathing new life into the area.
Other relative newbies at St Patrick's Street include fashion retailer Flannels at the former Eason store, outdoor wear specialists The North Face, UK footwear retailer Dune, fashion jewellers Lovis and Neve/Diamond Direct, at No 22, under the banner of Austen & Blake.
Meanwhile, Opera Lane, where women’s fashion store New Look recently closed, has new tenants too, including Mountain Warehouse, which took over the lease at the long-vacant Topman, as well as Victoria's Secret and Bath & Body Works.
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