THE FRENCH skincare and cosmetics retailer L’Occitane and UK fashion brand Vila are to open stores at Liffey Valley shopping centre in west Dublin.
The new lettings come as the shopping complex reports a 6 per cent increase in footfall in the first eight months of this year compared to 2010.
L’Occitane, which trades across 85 countries, has leased a 95sq m (1,023sq ft) shop for which it will pay a base rent of around €100,000 or 10 per cent of the turnover, whichever is the highest. It will be the company’s tenth Irish store. Vila, part of the Bestseller’s Group – better known for its Vera Moda, Jack Jones and Only brands – is to occupy a store of 171sq m (1,841sq ft) on a 15-year lease. The company will pay a base rent of €200,000 or 12 per cent of the turnover, whichever is the highest. Bestseller has availed of the improved rental concessions in the Irish retail market to open 30 new stores this year.
Much of the demand for space in Liffey Valley is being driven by existing tenants, according to letting agent Bernadine Hogan of Savills. One such trader, Tommy Hilfiger, is to move to a trading area of 532sq m (5,726sq ft) over two levels where it plans to offer a full family range of clothes. In this case the base rent is likely to be around €500,000 or 10 per cent of the turnover.
Ms Hogan said Tommy Hilfiger’s decision to look for extra space was being seen as an important vote of confidence in the centre which would celebrate its 13th year of trading next October.
Other recent arrivals in Liffey Valley have included men’s fashion retailer Moss Brothers and children’s clothes specialist Pumpkin Patch. Moss Brothers, which also has a shop in Kildare Village, will be paying a base rent of €200,000 or 12 per cent of the turnover for a unit of over 185sq m (1,991sq ft). Pumpkin Patch has apparently agreed fairly similar terms. Liffey Valley manager Denis O’Connell says the shopping centre, which is fully occupied, is now attracting an average of 185,000 visitors per week.
