ShoppingCentres The massive Scotch Hall mixed-use scheme in Drogheda will shake-up the local retail scene, writes Fiona Tyrrell
A €200 million retail and leisure development on the banks of the River Boyne in Drogheda will shake-up the retail market in the region when it opens next week.
Scotch Hall will be one of the largest mixed-use developments outside of the Dublin region, with a floor area of 92,900sq m (999,966sq ft) on an eight-acre stretch of riverbank, where the town's thriving mills once provided much employment.
The mixed-used scheme includes 18,000sq m (193,000sq ft) of retail space, a 104-bedroom four-star hotel, 3,000sq m (32,000sq ft) of office space and 80 apartments, which come to the market later this month through agent Felicity Fox.
By attracting many Irish and UK multiples, Scotch Hall is hoping to transform the retail scene in the north-east by attracting shoppers from Navan, Newry, Dundalk and north Dublin. Designed by Douglas Wallace Architects, Scotch Hall - a new landmark glass and metal waterfront building - incorporates protected mill buildings, as well as an elegant new pedestrian bridge crossing the River Boyne, bringing pedestrian traffic from the town centre to the centre.
Parking for 700 cars is available on four floors above the retail element of the centre, accessed via the Dublin Road. There are also 200 surface car-parking spaces off the Marches Road. Parking at Scotch Hall will cost €1.20 an hour for the first three hours, but goes up to €5 an hour from the fourth hour on.
The scheme is almost fully let, says Galway developer Gerry Barrett of Edward Holdings, with only two small units to let, as well as a river-view food/deli outlet, which incorporates some listed mill structures. In addition to anchor tenant Dunnes Stores' 7,400sq m (80,000sq ft) premises, there will be 52 other retail outlets. The two-story retail element is laid out over two 250-metre malls.
Agent Douglas Newman Good has secured tenants, such as Next, which will trade from a unit of 1,858sq m (20,000sq ft) at the entrance to the centre, New Look, Monsoon, Oasis, Pull & Bear, River Island, which will occupy a shop of 1,393sq m (15,000sq ft), A Wear, Burton Menswear and Sasha.
The Arcadia Group has taken five shops for five of its labels - Wallis, Top Shop, which has a unit of 929sq m (10,000sq ft), Evans, Dorothy Perkins and Burtons. Other shops include Waterstones, Lifestyle Sports, Dixons, HMV and Aldo shoe shop.
With Edmund Douglas of Douglas Newman Good reporting strong competition for virtually all of the units, Zone A rents are around €1,300 per sq m (€121 per sq ft) while the average rents are around €915 per sq m (€85 per sq ft). The main anchor, Dunnes, bought the premises and is likely to have paid around €3,200 per sq m (€300 per sq ft).
The rent roll for Scotch Hall is likely to be around €8-€10 million. The hotel/leisure element of the development, including the four star D Hotel, opened last month. Phase two of the development will involve a significant extension to the hotel adding 69 rooms, a 500-seat conference centre, spa and leisure centre.
Demand for the retail element was so strong that plans for a multi-screen cinema in the Scotch Hall development were changed to retail. Now a nine-screen cinema will feature as part of the mixed-use €300 million Southbank scheme, which is still at the planning stage.
If this element of the scheme gets approval from An Bord Pleanála, it will add another 92,903sq m (1m sq ft) of shopping, leisure and residential facilities.
It will also involve the construction of one of the tallest buildings in Ireland, a 27-storey tower, around 12,600sq m (136,000sq ft) of shopping space, 160 apartments and a second new bridge across the River Boyne. An additional 600 car-parking spaces will also be provided. The transformation of the "redundant industrial site" on the riverside marks a new phase of development for Drogheda, which will see the southside of the river integrated with the modern commercial hub on the northside, according to Barrett.
Next on the cards for the Galway property developer is the development of hotels the Victorian-style University Hall in Hatch Street, Dublin 2, which he bought for over €16 million and another hotel at Covent Garden in London. Edward Holdings' Galway five-star hotel The G, will open in four weeks.
