Steady progress on Cork's St Patrick’s Street in 2025 with the arrival of some strong brands

Urban Outfitters was one of a number of new entries to Cork city centre's fashion retail scene in 2025, writes Savills Lia Dennehy

Wed, 24 Dec, 2025 - 07:00

Lia Dennehy

CORK city centre may not have experienced the same wave of fascia changes this year as in previous cycles, but that doesn’t mean activity has stalled. The evolution is more nuanced, and arguably more significant. The market is rebuilding gradually, driven by small yet impactful wins: Renewed tenant confidence, a more diverse retail mix, and consistent asset management across key streets.

One of the most notable milestones was the October opening of Urban Outfitters in the former Dorothy Perkins unit beside Dunnes Stores on St Patrick’s Street. This deal, three years in the making, represents more than just a new name on the street — it revitalised a large, long-vacant building, enhanced St Patrick Street’s appeal to younger shoppers, and sent a strong signal to international brands considering Cork.

Earlier in the year, Seasalt launched in the former French Connection unit, and its strong early trading performance has already validated the move. It’s a perfect fit for Cork’s customer base and another indicator of growing occupier confidence.

Retail cycles are rarely straightforward, and HMV’s return to Merchants Quay demonstrates that legacy brands can thrive with the right strategy. Their new store prioritises experience over product, adding real value to both the scheme and the city.

HMV returned to Cork in November, opening a unit at Merchants Quay

It was also great to see Bakestone enter the city, taking over the former Perry Street Cafe. They’ve done a fantastic job with the cafe and integrated well with the community, commissioning local artist David Shillinglaw to create a mural inspired by the 10th anniversary edition of Sounds from a Safe Harbour.

Maura and Joe Carey from Bakestone pictured at the opening of Bakestone cafe and restaurant in Cork City centre last May. The premises was previously occupied by Perry Steet Café Picture: Miki Barlok

Meanwhile, The Fifth Quarter has transformed Rory Gallagher Square into an interactive food hub — their latest addition, Urban Pantry, is a little gem, offering high-quality food, largely sourced from Cork.

Behind the scenes, Merchants Quay has been quietly repositioning. Planning approval for a 12,000sq ft restaurant marks a significant step — both in scale and in its potential to boost dwell time and support the evening economy.

Vacancy levels reinforce this trend. Approximately 84% of St Patrick’s Street units are occupied, with another 4% under redevelopment, leaving around 12% vacant — a manageable figure in the current climate.

Looking ahead, 2026 promises a healthy pipeline. Planning has been granted for the former Debenhams site, and anticipation is high for what it will deliver.

CGI of what Debenhams will look like on foot of plans by owners Elverys/Intersports

Ace & Tate will open on Oliver Plunkett St early in the year, introducing a modern, design-led optical concept to a prime pitch. Oakberry is also set to launch, adding depth to the growing food and beverage scene.

Lease renewals provide further reassurance. Opera Lane has secured several recently, including River Island and Office Shoes. At a time when global brands are selective about physical stores, these renewals speak volumes about Cork’s underlying strength.

Challenges remain. Retailers are cautious, reflected in lease terms — typically 10 years with a break at year five — and fashion operators increasingly seek turnover-linked deals. Fit-out costs continue to be a hurdle, with most tenants now requesting capital contributions and rent-free incentives rather than extended rent-free periods. There’s also a shift from traditional full repairing and insuring leases, (FRI, where the tenant is responsible for all repairs and paying insurance premiums), to IRI structures (a cost recovery mechanism within a lease), as tenants aim to limit exposure to older building maintenance costs—placing greater responsibility on landlords.

The recent announcement of the Cork City Council facade improvement grant was a welcome development. The new grant for 2026, alongside the City Centre Action Plan 2025–2030, should help address legacy building issues and enhance the streetscape.

Importantly, the city’s regeneration projects — combined with the visible presence of new gardaí on our streets and the support of Cork City ambassadors — are helping to create a safer, more vibrant city core. There is still much to be done, but as stakeholders, we must actively support our city and work with decision-makers to create a space that benefits all.

Retailer demand exists, but requirements are highly specific, which is why we have some of the existing vacancy on St Patrick’s Street as its too small: The size requirement tends to be units of 2,500–3,000sq ft.

Prime rents remain stable, footfall is normalising, and the city’s broader regeneration plans will strengthen the catchment over time. Taken together, these factors point to a city centre that is quietly but confidently re-establishing itself as a resilient, attractive retail destination.

Lia Dennehy is an associate director, Commercial, with Savills in Cork