Shopping Centres: The large new shopping centre which Tesco is developing at Clare Hall, at the end of the M50 in Dublin 13, will introduce layout ideas new to Ireland. Jack Fagan, Property Editor, reports
The only major new shopping centre due to open in the Republic this year, Clare Hall at Malahide Road in north Dublin, will introduce a new planning concept that may well have a knock-on effect on future retail developments in this country.
The €25 million centre, due to open for business before the end of July, will have the anchor Tesco store on the upper level with the car-parking and some retail units on the ground floor. This novel layout is frequenly used in central Europe and should prove popular here because it will mean that virtually all the car-parking facilities will be under cover - an undoubted bonus in this country given the poor climate.
With the complex being developed by Tesco, it is hardly surprising that the multiple will dominate the centre with a store of 8,361 sq m (90,000 sq ft). Because of the retail guidelines, the foodstore will have to be kept to 3,500 sq m (37,600 sq ft). The balance of the extensive space will accommodate the company's largest department store in this country.
Clare Hall will also have 28 separate shops to bring the total retail area up to 18,580 sq m (200,000 sq ft). The vast majority of these shops have already been let or are in the process of being allocated to a good mix of tenants.
Two European fashion retailers, Mexx and B-Young, have already agreed terms and negotiations are well advanced with other traders such as The Jean Machine, Natures Way, First Choice Travel, Purple and 02.
Most competition has centred on the pharmacy, where there was the usual intense competition between the big chains for the available unit.
McCabe's Pharmacy was chosen at a rent of over €968 per sq m (€90 per sq ft) on a 25-year lease with five yearly rent reviews. This will bring the McCabe chain of pharmacies up to 13. Otherwise unit rents in the centre are ranging from €538 to €753 per sq m ( €50 to €70 per sq ft) depending on the size of the units.
Karl Stewart of agent CS Tierney O'Neill says that with only five shops available at this stage, they would be looking mainly at a range of traders specialising in fashion, footwear, sports good, computers and video games.
Like most recent shopping centres, Clare Hall will have a foodcourt with four individual units trading as a coffee shop, juice bar, fast food outlet and a restaurant.
Clare Hall is the first greenfield shopping centre development by Tesco in Ireland and comes at a time when there are few opportunities available for the large supermarket chains to expand their operations in the Dublin area.
The centre will give Tesco an important strategic advantage over its competitors not only because of the ever expanding local population but more importantly because Clare Hall, located near the end of the M50, will be easily accessible for shoppers.
