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Frascati Shopping Centre in Blackrock

Written by Robert McHugh, on 12th Oct 2017. Posted in Property

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The first phase of the extension and refurbishment of Frascati Shopping Centre in Blackrock is due for completion next month with the new multi-storey car park to be opened by the end of November.
 
The refurbishment and extension works which are currently underway will cost over €30m and will increase the size of the Frascati Shopping Centre from 100,000 sq ft to 170,000 sq ft.  It will add 2 new high profile MSU units, 21 new retail units and eight new food and beverage outlets in a restaurant hub benefiting from spectacular views over Dublin Bay. 

A major car park extension will provide a total of 550 spaces coupled with an improved access with a new right turn by way of Frascati Road.

CBRE and Cushman and Wakefield are the joint letting agents for Frascati which is owned by Invesco Real Estate, a global real estate investment manager.
 
CBRE claim all phases will be completed by the end of 2018. The opening of the multi-storey car park next month will give a major pre-Christmas boost to current retailers The Centre is attracting interest from national and international names, making Frascati one of the most interesting retail projects in the region.
 
Anchor tenants include Debenhams, Marks & Spencer and ALDI which will open for trade in second quarter 2018 while existing retailers are keen to upsize with tenants, including Vodafone signed up to take additional space in the redeveloped shopping centre. The tenant mix at the centre is set to evolve and improve as a result of the strong anchor tenants in place as well as the additional sizable units that the development will offer. 
 
Speaking this week, Louise Donnelly of Cushman & Wakefield said, "We are already experiencing a strong level of interest in the scheme, particularly from food & beverage operators. It is very exciting time for the people of Blackrock and surrounding areas and once completed will provide an enhanced shopping and F&B experience for the immediate catchment."

Source: www.businessworld.ie

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