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Cinema boost for shopping centre

Drogheda Town Centre shopping complex is to get a shot in the arm with the decision by Odeon UCI to lease its planned new €3 million cinema complex.

An Bord Pleanála has already cleared the way for the six new cinemas with about 1,000 seats on the first floor of the building. The roof of the centre is also to be raised to accommodate the screens, two of which will have seating for 250 and 300 patrons.

There are already three cinemas operating at the nearby Boyne Centre. Two rival developers were recently reported to be planning to open cinema complexes in the town.

Cinema rents have in the past reached €400 per seat – at that level the new Drogheda complex would receive an overall rent of €400,000 per annum – but in the present difficult trading environment operators frequently secure generous concessions.

The decision to open the new cinemas at the Town Centre complex will be seen as an attempt to re-establish West Street as the main shopping precinct.

Agents Mason Owen Lyons are letting agents for the centre.

New tenants at Whitewater

Whitewater shopping centre in Newbridge, Co Kildare, continues to attract new tenants.

Burritos & Blues, the Mexican food retailer, which has opened its fourth Irish store within the food court, will be paying a base rent of €40,000 per annum and a top-up based on the turnover.

Also moving in is Trespass, the UK outdoor clothing and sportwear retailer, which has leased a unit of 148sq m (1,600sq ft) on the first floor.

Bannon and Savills handled the lettings.