Blanchardstown Shopping Centre
Over 20 years ago, Green Property bought the site where the Blanchardstown Shopping Centre now stands for between £1 million and £2 million. The developers could not proceed until the new Navan road was in place. A further delay ensued when it had to find an anchor tenant. Dunnes Stores stepped into the breach and were followed as usual by Roches Stores and then Easons. It is believed that the three traders bought their units for a total of £12 million. Green Property then proceeded with the development and the centre opened its doors in October, 1996. The main centre has 635,000 sq ft of space which includes the 40,000 sq ft UCI cinema. There are 120 retail units, a large number of which are UK retail multiples eager to increase their stake in the Irish market.
Dunnes has a 100,000 sq ft store there, Roches Stores has 85,000 sq ft, Argos has 9,850 sq ft and Boots has 5,500 sq ft. Zone A rents are pitched on the low side by today's standards, varying between £60 and £70 per sq ft. They are set to rise significantly when they are reviewed next October. Even as things stand, Green has a rent roll of £8 million from the centre and another tidy sum from the retail warehousing which has been equally successful. There are 18 outlets in the retail warehousing on the site, ranging in size from 5,000 sq ft to 40,000 sq ft. They are let at £15 to £20 per sq ft.
There are also a number of miscellaneous "stand alone" businesses amounting to 22,000 sq ft including a pub, Xtra-vision, Paddy Powers bookmakers and a McDonalds Drive Through. The owner of the 10,000 sq ft Budabar is understood to be paying £195,000 per annum rent. The McDonalds Drive Through is paying £80,000 per annum.
Predictions that the opening of Liffey Valley in 1998 would adversely affect business at Blanchardstown have been unfounded. In fact the opposite has been the case, according to Michael Harrington of Palmer McCormack & Partners, who says that people tend to shop at both centres.