Savoy owners buy Quills

A REVAMP of the long-established Savoy Shopping Centre may be on the cards, following the circa €2m purchase of the former Quills clothes shop, at nos 106/107 Patrick Street, by the Savoy’s owners, the Clarendon Group.

The sale of the Quills property — which faces Debenhams and Brown Thomas — was confirmed this week by its selling agent, Lisney director Margaret Kelleher, who said it was “a further positive step, with a focus coming back to retail on Cork City’s Patrick Street.”

Clarendon may follow the acquisition of the 3,500 sq ft Quills property with another former fashion outlet, A-Wear, to enlarge the Savoy. The shopping centre is on the site of the former iconic Savoy cinema, which closed in 1975, before being redeveloped by Robin Power. Now owned by the Dublin-based Clarendon Group, who have extensive Irish and international retail centres, the Savoy has had several refurbishments, in 2001 and 2010, and has a separately-managed entertainment complex overhead. Current tenants include Home Focus/Hickeys and Champion Sports, as well as 3Mobile on Patrick Street.

Headed by seasoned developers and investors, Paddy McKillen and Tony Leonard, Clarendon last year finalised a €12m redevelopment of a 25,000 sq ft store for H&M, at the former NIB bank branch at College Green, Dublin, and they also own Cork’s Queens Old Castle centre.

Quills’ wedge-shaped unit, at 106/107 Patrick Street (previously Lesters chemists), came to market last September, with Lisney, acting for receivers E&Y for one of the group’s companies. The 1939-established Quills continues to trade online and in Killarney, Bantry, Glengarriff, Kenmare and Sneem.

Also this week, sale terms were agreed by Seamus Costello of DTZ Sherry FitzGerald, at 125 Patrick Street, the former BlackTie corner premises facing Merchants Quay Shopping Centre, for about €800,000.

DETAILS

: Lisney, 021-4275079; DTZ: 021-4275454