Joint owners of the Ilac Centre, Hammerson and Irish Life, have commenced work on the redevelopment of the Centre’s Moore Mall South. Agreements have been exchanged for four of the five newly created units.
The redevelopment, which involves an investment of c.€1.5 million, will be completed by summer 2017 and forms part of the owners’ wider plans to improve the tenant mix at the Ilac centre.
The Ilac Centre comprises 291,808 sq ft of retail accommodation and in the 12 months to December 31st 2016 had footfall of 17.8 million people.
The centre is adjacent to Henry Street, Ireland’s busiest shopping street and is home to 85 retail and catering units, including H&M, River Island, and Argos. New brands introduced to the centre in recent months include Tiger, Paese Cosmetics and Chopped.
BB’s Coffee & Muffins has committed to 1,679 sq ft, serving a popular range of pastries, sandwiches and coffee. Book retailer, The Works, will occupy 1,958 sq ft and sport supplement store, So Nutrition will occupy 560 sq ft. Specialist catering equipment retailer, Nisbets, will complete the new leasing agreements, occupying 5,554 sq ft.
Hammerson’s Director of Retail in Ireland, Simon Betty said, "Investing in the retail experience and improving the tenant mix at the Ilac Centre will be a major priority over the course of 2017, and we look forward to working with Irish Life to achieve this."
He added, "The centre is well located in the centre of Dublin, benefitting from high footfall and sales, and through this refurbishment and other asset management initiatives we will ensure that the centre continues to offer our customers the right mix of retail and food & beverage."
Source: www.businessworld.ie
