Confidence returns to Cork as recovery prompts retail to take centre stage

Retail will move centre stage in Cork during 2016, with economic recovery prompting new city centre developments, new trader arrivals, and the sector will also be characterised by moves to ‘market’ rent negotiations, where rents can go up or down, a final end to the ‘upward only’ regime.

“These will be vigorously contested by both landlords and retailers, who will have differing opinions on how the market has evolved in the last five years,” notes the imminent Lisney Review of 2015 and its preview of 2016 trends.

Retail changes are expected at the former Capitol cinema site, Merchants Quay, and the more-than doubling of Penneys’ presence on Patrick Street, as well as possible redevelopment at the Savoy/Quills, and the Victoria Hotel for a retail-led mixed use scheme.