Ilac Centre refurbishment commences
Hammerson and Irish Life, joint owners of the Ilac Centre, 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.
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.
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.
Simon Betty, Hammerson’s Director of Retail, Ireland, commented: “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. 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.”
Deirdre Hayes, Head of Property Asset Management at Irish Life, added: “The start of the Moore Mall South refurbishment underpins Irish Life’s commitment to retail in Dublin city centre and marks an important milestone for the Ilac Centre by enhancing the quality and mix of retail and leisure for the city’s considerable catchment area. We look forward to working with Hammerson on this and future projects.”