Aldi signs in to revamped Frascati Shopping Centre
German giant joins Debenhams and M&S as anchor tenants in south Dublin destination
Frascati Shopping Centre: Aldi will become a tenant of the refurbished retail centre in Blackrock, Dublin
Aldi will join existing anchor tenants Marks & Spencer and Debenhams and will provide a catalyst to introduce new tenants into the centre. The complex itself will almost double in size between now and the end of 2018 and is already attracting interest from national and international names.
The agreement to lease a 1,207sq m (13,000sq ft) store to Aldi was announced yesterday by global firm Invesco Real Estate and its Irish advisers, Burlington Real Estate. Invesco acquired the shopping centre two years ago for more than €68 million.
The refurbishment and extension works under way will increase the size of the centre from 9,290sq m (100,000sq ft) to 15,793sq m (170,000sq ft). It will add 24 new retail units and five additional food and beverage units in a dedicated restaurant location with views over Dublin Bay.
A major car park extension will bring total spaces to 550. Improved access to Frascati Road is designed to further enhance the shopping experience.
John Bruder of Burlington said the company was thrilled that Aldi would be its first agreed new tenant.
“The transformed Frascati Shopping Centre will offer huge variety and quality and is set to become the leading shopping destination in one of the country’s most affluent areas,” he added.
Giles Hurley, the Aldi Group’s managing director, said the company was excited to be expanding their Dublin presence at such a fantastic location.
“Aldi always aims to offer the very best in award-winning quality and unbeatable value for money to our customers, and we are confident that our presence in the new and improved Frascati Shopping Centre will make Blackrock an even more attractive destination for shoppers.”
Aldi has confirmed that the Blackrock outlet will be one of its new concept stores featuring its latest layout and design. Fresh produce will be displayed more prominently at the front of stores as part of the €60 million Project Fresh refitting of all 129 stores in the group.
Joint letting agents Cushman & Wakefield and CBRE acted for the landlord while Lavelle Chartered Surveyors advised Aldi. Invesco has more than $66 billion of real estate assets under management around the world.