Overseas retailers heading for ‘Pana’

A turnaround in the fortunes and occupancy levels of Cork city’s premier retail boulevard Patrick Street is predicted in the next year, with significant national international brand names set to arrive and take significant floor space.

However, the new arrivals will also see further evidence of a two-tier retail market, with new traders on significantly better rent terms, admits director of Savills’ Cork office, Peter O’Meara.

“We expect a number of high-order retailers to rejuvenate the street this year,” Mr O’Meara says, reporting that international retailers are once more beginning to focus their attention on prime locations in Cork city centre. The last big burst was the opening of Opera Lane, which breathed new energy and footfall in the centre of St Patrick’s Street over five years ago.