Dundrum Towncentre tailor-made for us, says Moss Bros
British menswear retailer likely to be paying rent of up to €4,000 per square metre
Moss Bros already operates from the Liffey Valley shopping centre, and has a Savoy Taylors Guild outlet in Kildare Village
British menswear retailer Moss Bros has agreed a deal with Hammerson to let a 343sq m unit in Dundrum Towncentre in Dublin. This will be its second store in the Republic, adding to an outlet in Liffey Valley shopping centre.
It also has an outlet in Kildare Village operating as Savoy Taylors Guild Kildare.
The unit is located on level two of the Dundrum centre, between the Karen Millen and Gap stores. It was previously occupied by French Connection.
The rental level has not been disclosed, but Dundrum was attracting zone A rents of up to €4,000 per square metre last year.
Hammerson took ownership of Dundrum in July 2016 in partnership with German financial group Allianz, and has undertaken a number of asset-management initiatives to maximise the potential of the centre. These include the refurbishment of its food court, which has attracted a broader range of caterers.
Commenting on the letting, Simon Betty, director of retail for Hammerson in Ireland, said: “To attract Moss Bros’ second store in Ireland is a fantastic result for Dundrum. This signing illustrates how Hammerson is able to capitalise on its relationships with UK retailers to secure great new retail options for the Dundrum market.”
The Dundrum Towncentre was developed by Irishman Joe O’Reilly and his Chartered Land company, opening in 2005. Mr O’Reilly’s loans were later transferred to Nama, which sold them on in 2015 as part of the Project Jewel portfolio sale.
Hammerson and Allianz paid €1.85 billion to purchase the loans, with the UK company’s share coming to €1.23 billion.
Dundrum Towncentre is the largest shopping complex in the State, with 120 shops, 40 restaurants and an annual footfall of more than 18 million visitors.