Despite the rise of online shopping and vacant outlets remaining an issue in the capital, the pipeline of international retail investment looks strong
Grafton Street: the chief executive of the business organisation Dublin Town was pleased to note that by September, the footfall situation in Dublin City Centre had improved significantly. Photograph: Dara Mac Dónaill
Eoin Freeney, director of retail at Colliers, is especially upbeat about the new tenant for 42 Grafton Street. The former Ted Baker outlet is a high-profile opportunity, which he says has already received five firm offers from international clients. Feeney says much of the interest has come from fashion and cosmetics retailers.
On this point, Feeney would like a change to the Dublin City Council development policy which, he says, restricts retail outlets spanning several adjacent buildings. EU forecasts show Ireland’s economy is expected to grow by 1.2 per cent in 2024 and 3.6 per cent in 2025, supported by an improvement in global trade, falling inflation and a strong labour market. All of which supports some optimism for the medium-term future at least.
New hotels planned for Capel Street and Middle Abbey Street will help to rebalance the number of hotels – and their restaurants – which are currently concentrated on the southside, he adds.
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