Retail Scheme Positioning

Scheme Positioning & Enhancement is one of the most progressive and recent services that Bannon offers.

In the current climate, shopping centre owners and funders are experiencing the perfect storm of reduced rent, rent roll which had been paid quarterly in advance is now being paid on a monthly basis, with retailers accruing arrears or paying rent at a level lower than their lease obligation. The standard adversarial approach in dealing with this results in high costs in terms of legal fees, landlord's resource and the erosion of the landlord and tenant relationship which may have been built up over years.

At Bannon, through our scheme positioning role we seek to treat the disease and not just the symptom. We do this by gaining a true understanding of the rental value of the asset by analysing the sales generated within the scheme and the sales required to sustain the lease obligations. Bannon have been retained by a number of shopping centre owners & funders tasked with establishing the true potential market position of the retail asset and working with the retailer to increase sales and ultimately the lease rent.

Using this information Bannon establishes a bespoke business plan for the shopping centre which draws upon catchment, competitor, customer and tenant mix analyses. This analysis can also provide a greater understanding of the potential rents which will be generated from a turnover tenant. The plan is implemented to increase retailer sales and therefore increase the rent receivable back to their lease obligation.

Bannon's ultimate goal is to increase the profitable sales generated in a retail scheme therby increasing the rent currently being paid to the landlords.

Currently the team are working on:

TEAM

Neil Bannon, Managing Director

Neil Bannon has been in the commercial property business for 20 years. He is acknowledged as Ireland’s leading retail property expert.

Neil has led shopping centre projects from site assembly through design to opening through successive rent reviews and unit re-lettings, has led asset management teams and dealt with both the acquisition and disposal of large scale shopping centres.

Emma Leonard, Associate Director

Emma has over eight years experience in the commercial property business. For the 2 years she has been specialising on repositioning shopping centres, building proactive relationships with retailers, assessing turnover potential and demographics and liaising with marketing teams on sales driven initiatives

Current projects she is involved in are Athlone Towncentre, The Retail Park, Liffey Valley and Whitewater Shopping Centre.

Keith Craddock, Surveyor

Keith has been working with Bannon for over five years. He has gained an extensive insight into retailer turnovers and sustainable rent matrixes. Keith also has significant experience in analysing a scheme's catchment demographic.