New lettings at Mahon Point reflect positive Cork City retail outlook

AS agents Savills predict that 2015 will be the best year for retail in Cork since the downturn began in 2008, and witha number of tenant deals and relocations completed along Patrick’s Street (including SuperDry into the Moderne), a 75,000 sq ft site is now on the market for €6m at Grand Parade/Patrick Street: and retail deals are also flowing at suburban Mahon Point Shopping Centre for its owners, Deka.

Savills’ Leigh Hegarty has outlined a number of new lettings at Mahon Point and three more in legals (one is a shoe shop, another’s fashion), with Starbucks cafe (which is already in Mahon at City Gate) moving in upstairs in the centre close to Tesco and Next/Zara.

And, BBs, O’Brien’s and the 12-screen cinema are all refitting, and popular city chipper, Hillbillys, is due to arrive also at the food court.

UK shoe chain, Pavers, have slipped into the former Barratt’s shoe unit, selling Gabor, Marco Tozzi, and Hush Puppies, and Inglot Cosmetics — already in the Crescent Shopping Centre, Limerick — have taken on the former Dr China unit, located in a high-profile corner unit, near Moore’s Jewellers and Tesco.

Meadows & Byrne has extended into the former A-wear unit, at the first-floor entrance to Debenhams, now with 5,400 sq ft.

Also taking more space is Bershka, spreading into a new, adjoining unit to now span 5,000 sq ft with a re-fit carried out, whileTommy Hilfiger is also refitting.

Leigh Hegarty says Mahon Point gets more than six million visitors a year and notes “with strong footfall levels, the focus is to introduce quality new brands to the scheme, with an emphasis on fashion.”

General terms agreed have been ten-year leases and rental levels have ranged from €70 to €115 psf, depending on size and location.

Details:

Savills: 021-427371


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