New food-hall and restaurant planned in Dundrum Town Centre revamp

Dundrum Town Centre have been granted permission for a new food hall, restaurant and outdoor space. The shopping centre’s latest development will also be the location for fine food company Fallon and Byrne’s latest retail outlet.

Dún Laoghaire-Rathdown County Council have granted permission for Dundrum Retail Partnership to develop a disused space, known as Pembroke Square, behind the centre’s theatre including a new Fallon & Byrne foodhall and restaurant.

Five vacant two-storey buildings on Ashgrove Terrace, located on Dundrum’s main street, will be refurbished as part of the development, which was approved after a local resident’s appeal to An Bord Pleanála was ruled invalid. A new two-storey building will be built at the rear of the existing vacant structures, connecting Ashgrove Terrace to the shopping centre’s Pembroke Square. This will create a 1,000 sq m restaurant and food hall, with entrances on the main street and the new square, as well as an outdoor seating area and a first-floor terrace.

The new Fallon & Byrne outlet will “reinvigorate a currently underutilised part of the centre” according to property giant Hammerson, the co-owner of Dundrum Town Centre, previously said that

The fine food company already operates a restaurant and retail space on Dublin’s Exchequer Street, as well as outlets in Dún Laoghaire and Rathmines. There are also plans to develop a smaller café or restaurant, a basement-level leisure or entertainment facility and a multipurpose outdoor space alongside the new retail space and restaurant. In the planning permission, it is suggested that the square could be used for events such as food and craft markets, exhibitions, an outdoor cinema, food and beverage stalls or retail concessions.

The plans were initially delayed due to the objections of a local resident but these were ruled invalid by Dún Laoghaire-Rathdown County Council.

Australian retail chain Smiggle to open first of Irish stores in Dundrum

Australian stationery chain Smiggle have announced plans to open up to 20 new stores in Ireland over the next three years.

The first store will open next month in the Dundrum Shopping Centre with a second store is scheduled to open this summer. The chain is in advanced discussions to open a further two or three new stores before Christmas.

It is estimated that the stationery market here is worth as much as €338m a year. Premier, the group,who own Smiggle along with a number of other retail brands, said that the Irish market is already the number one market outside the UK for online Smiggle orders.

Smiggle currently operates 90 stores in the UK since expanding its operations there in 2014.

Premier opened 26 Smiggle stores in the UK in the first half of its financial year, which ended in January, and expects annual sales there to hit A$200m (€142.7m) by 2019.

It will open a total of between 30 and 40 more new stores in the UK this year.

Founded in 2003 in Melbourne, Austrailia, Smiggle currently has stores located across Australia (135), New Zealand (23), Singapore (17), United Kingdom (90), Hong Kong (5) and Malaysia (1). The brand is renowned for its use of vibrant bold colours and quirky graphics on most of its branded products.

According to RTE, Simon Betty, Director of retail in Ireland with Hammerson (joint owner of Dundrum Shopping Centre) said it was a “fantastic result” to secure Smiggle at Dundrum for its country debut.

NAMA consider two International bids for Dundrum Town Centre

Project Jewel, suitable named, is a portfolio of loans that include the most prized Retail assets in Ireland. Dundrum Town Centre, Pavilons Swords and the Ilac Shopping Centre are amongst the loans. Over the past week, The National Asset Management Agency has weighed up bids from two groups of International investors.

Both investors are waiting to hear from NAMA who the preferred bidder for the portfolio is. Project Jewel is expected to trade for approx. €1.6 million. The new owner will likely work with Joe O’Reilly and his company Chartered Land to manage and develop the assets.

The portfolio sale also includes 50 per cent stakes in both the Ilac and Pavilions shopping centres in Dublin, as well as a substantial site between O’Connell Street and Moore Street.


NAMA appoint Wells Fargo Bank to handle Dundrum town centre sale

Nama have appointed Eastdil Secured, a subsidiary of the Wells Fargo Bank to handle the sale of the most expensive real asset asset in Ireland, Dundrum Town Centre. The €1 billion loan sale will also cover a number of other properties, with 50% stakes in the successful Pavillions Shopping Centre in Swords and The Ilac Centre on Dublins Henry Street.

Confidence continues to increase that Dundrum, seen as the crown jewel in the Nama portfolio, will attract interest from several sovereign wealth funds as well as some of the largest institutional investors. The loans are due to go on the market towards the end of next month, with first bids due in early August.

Dundrum Town Centre opened in 2005 and covers about 1.34 million sq ft with more than 100 shops, 40-plus restaurants, cinemas, a theatre, and 3,400 car park spaces