Outlook

30 LISNEY | REVIEW 2015 & OUTLOOK 2016 RETAIL
12 MONTHS
January
2015 started off on a positive note with
the volume of retail sales increasing
by 3.3% in January and by 8.8% in
the 12 months. 6 Grafton Street, Bus
Stop, newsagent was let to another
newsagent operator. Ecco Shoes
took a lease on 47 Grafton Street at a
reported rent of ¤210,000 per annum.
Bewley’s announced its intension to
close its Grafton Street store for a
number of months for refurbishment
with the café’s 140 staff made
redundant.
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March
Mango, the fashion retailer, opened its
flagship store at 46/47 Henry Street.
Nos. 50 and 87 Grafton Street, the
former O2 shops were placed on the
market as it rebranded to Three. BB’s
Coffee & Muffins chain was sold to
a group of investors for a reported
¤10m. The Grafton Group, operators
of the Woodie’s DIY chain, reported a
56% increase in pre-tax profits. Dublin
city councillors approved plans for the
¤3m redevelopment of the fruit and
vegetable markets in Smithfield.
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May
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Fitzwilliam Finance Partners gained
control of Arnotts by reaching an
agreement with Apollo to acquire
its 50% stake. Dublin city councillors
approved plans to sell a site on
Ballymun Main Street to the Alanis
Group for the construction of a
new shopping centre. Key money
re-entered the Dublin market when
Lacoste put its Wicklow Street lease
on the market, quoting ¤100,000.
The lease was subsequently taken by
Joules, which opened in November.
JUNE
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RS
February
April
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Clerys on O’Connell Street was sold by
Gordon Brothers to Natrium Ltd and
the department store was immediately
closed. Dealz announced its long-term
plan to operate 70 stores in Ireland,
adding to its existing 41 stores. Project
Jewel loan sale went on the market. It
contained the loans relating to Dundrum
Town Centre, the Dublin Central retail
development site and 50% interests in
the Pavilions and Ilac Shopping Centres.
This was bought by Hammerson &
Allianz Real Estate in November.
The owners of Liffey Valley Shopping
Centre announced plans for a ¤26m
expansion of the centre. Karen Millen
closed its store on Grafton Street
but confirmed its long-term future
in Ireland. Irish grocery market sales
were up by 1.2% in the three months
to the end of February, following the
strongest Christmas figures since 2010.
Tesco sales in Ireland declined 6.3% in
the year to February.
Next announced its plans to close its
Grafton Street store with Hugo Boss
lined up as the new tenant. HMV moved
into the former Karen Millen store at
27 Grafton Street on a temporary basis.
Mango took over the former Awear
shop in the Blanchardstown Centre.
SuperValu’s market share overtook
Tesco for the first time. Tesco had
been market leader for over 10 years.
Ladbrokes Irish retail business entered
examinership but later exited in July with
the closure of 52 of its 196 outlets.