Frascati renovation to top €30m as new traders sign on
Blackrock shopping centre will increase to 170,000sq ft upon completion
Aldi, Five Guys, Sugar Daddys and Bookstation are among the new traders at the Frascati Shopping Centre in Blackrock
The refurbishment and extension of the Frascati Shopping Centre in Blackrock, Co Dublin, will mark a major step towards completion with the opening of traders Aldi, Five Guys, Sugar Daddys and Bookstation before the end of October.
Existing traders, including Marks & Spencer, Peter Mark, Vodafone and McDonald’s, have also taken new or additional space in the centre in anticipation of a substantial increase in footfall. Most of the work has now been completed and further letting announcements are expected shortly as the centre attracts interest from national and international traders.
John Bruder of Burlington Real Estate said the recovery in consumer confidence and retail sales, together with the fact that Frascati is located in the heart of one of the most affluent residential areas of the country, explains the keen interest in securing a presence.
“There is a very healthy tenant interest and, with over 80 per cent of the scheme already spoken for, we expect to be finalising the letting of the few remaining units in the near future.”
The upgrading and extension works close to completion will cost more than €30 million and bring the investment in the Frascati centre to over €100 million. The new works are being completed in phases, with the bulk of the scheme to be unveiled before the end of November.
A substantial car park extension will provide 550 spaces coupled with greatly improved access for drivers travelling from the city
The project will lead to an increase in the size of the Frascati centre from 9,290sq m to 15,793sq m (100,000sq ft to 170,000sq ft) and will add a range of retail units and seven new food and beverage outlets in a dedicated restaurant hub with views over Dublin Bay.
There will be a dedicated health and beauty area on the first floor. The provision of facilities for eating/drinking and socialising together with health and beauty will complement the range of more traditional retail offers.
A substantial car park extension will provide 550 spaces coupled with greatly improved access for drivers travelling from the city.
The Frascati project was undertaken by Burlington Real Estate on behalf of Invesco Real Estate, a global real estate investment manager.
The letting agents are CBRE and Cushman & Wakefield.