Irish consumers to spend €5bn in six city centres in 2009

SHOPPERS will spend €5 billion in the country’s six city centres this year.

Almost half of this spend, at €2.4bn, will take place in Dublin city centre — nearly three times more than the €756 million expected to be spent in Cork city, according to the Experian Ireland 2008 Retail Ranking survey.

The centres of Limerick, Galway, Waterford and Kilkenny will see a combined spend of €1.6bn.

Dundrum Town Centre meanwhile will see almost €700m spent there, more than in most Irish cities this year.

Dundrum will hold its third place in the rankings in the Republic, but will see a reduction of 4% in spend due to improvements to Dublin and Bray.

Spending in Belfast city centre is expected to increase 25% over the next 10 years to €1.4bn, while Liffey Valley shopping centre will see a fall of 19% to €447m.

The biggest loss over the next 10 years will be in Arklow with a fall of 50% to €70m, due mainly to the significant developments in Bray.

The seven main shopping districts in Cork are expected to record a spend of €1.46bn this year.

Cork city spending will be followed by Mallow at €208m, Douglas €146m, Wilton €104m, Blackpool €95m, Mahon Point €76m and Bantry €70m.

In Limerick €648m will be spent in the city centre and €117m in the Crescent Shopping centre, followed by €95m in the Parkway retail park. The Shannon Sky Court will see a spend of €32m, says the survey.

Tralee is one of the top locations for retail spend with an expected take of €318m this year. Galway city centre is in sixth place with €376m.

Retail spend in Dublin city centre will grow by 14% to €2.7 billion over the next 10 years, mainly as a result of new retail developments and extensions to existing schemes.

However, the report said several smaller centres and retail parks surrounding Dublin will be affected by the improving retail scene in Dublin city centre and improvements to the larger centres in the Dublin area.

Director of Experian retail consultancy Jonathan de Mello said: “For the first time now we have an accurate and very powerful measure of retail expenditure for every significant retail location in Ireland.

“With so much new retail development planned over the next decade, it is vital retailers, investors and developers conduct detailed and careful research before investing in a location.”

The figures are based on the take for the first quarter of 2008, with an annual figure forecast from this.


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