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Retail parks seize opportunity presented by High Street’s difficulty

It’s difficult to imagine things getting any worse for the retail sector than they did in 2020. But the chief driving force behind the decline of investor interest began long before Covid-19 arrived. There has been growing concern in relation to the impact of online retail and changing consumer trends on the long-term supply-demand dynamic […]

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Shopping Centre Portfolio – Footfall

In general the footfall across our portfolio is remarkably consistent every year, however 2020 is very different. We remain hopeful that people will shop with purpose when the restrictions are eased at the start of December. Businesses across the country need a strong finish to the year and we can all help to make it […]

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Harvey Norman much-anticipated arrival into Sligo Retail Park is finally here

Harvey Norman has just opened their brand new 45,000 sq. ft store in Sligo Retail Park on Thursday, 5th November. It is Harvey Norman’s first store in County Sligo and the 16th store in Ireland. The store is opening under the Government guidelines on a restricted basis due to level 5 lockdown with only essential […]

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Neil Bannon on the Imposition of Essential Goods

The inconsistent and illogical nature of the imposition of essential goods only sales in retail across the country is causing serious damage to the sector. We have reports from across the portfolio of local Jewellers who are operating on a Click & Collect basis being told to pull their shutter, a news agency being advised […]

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Neil Bannon – September Retail Sales

September Retail Sales indicate that at least one part of the economy is definitely experiencing a K shaped recovery. The stellar numbers that continue to come out of the DIY sector (YOY: Hardware +27.6% YOY, Electrical +21.1% & Furniture +11.9%) contrast sharply with Bars which are predictably down 48%. What’s interesting is that total value […]

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Neil Bannon – Retail Sales

As per the Retail Sales figures released by the CSO and our own experience across our retail park portfolio DIY & Household goods sales have been the stand out performer of the Retail sector since March. Retail Parks continue to perform well with rolling restrictions on other retail outlets redirecting spend into home improvements. Interestingly […]

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Owners of vacant properties beware!

Since the introduction of the Local Government Reform Act 2014, Local Authorities have been given autonomy to vary the level of rates relief granted to owners of vacant properties. As a result, the level of refunds on commercial rates available to Landlords of vacant properties varies significantly between Local Authorities. In Dublin City Council for […]

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How much do our Local Authorities rely upon retail rates?

Businesses across Ireland contribute approximately €1.5 billion in commercial rates to Local Authorities across the country each year. This is a critical source of income for each of the 31 Local Authorities in the State and typically accounts for between 16% and 53% of their revenue stream with the national average standing at 33%. According […]

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Household Finance and Consumption Survey (HFCS) 2018

The Central Statistics Office has today issued results from the Household Finance and Consumption Survey (HFCS) for 2018 and comparable data for 2013, the previous year this survey was run. Commenting on the report, Stephen Lee, Statistician, said: “The HFCS is the only household survey that collects combined information on asset, income and debt levels […]

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Retail Sales volume increased by 3.6% in December 2019

The volume of retail sales increased by 3.6% in December when compared to November on a seasonally adjusted basis and increased by 5.8% on an annual basis. Note: ‘Black Friday’ is included in the December reporting period for the RSI, which covers the 5 weeks 24/11/2019 – 28/12/2019. In 2018 ‘Black Friday’ was covered in […]