Business Irish

Sunday 22 October 2017

New managers at centres

Property consultants Bannon have been appointed as managing agents for three regional shopping centres at: Thurles, Co Tipperary; Dungarvan, Co Waterford and Johnstown near Navan, Co Meath.

Owned by Clancy Construction, the centres are quoting rents of €250-350 per sqm and have achieved occupancy levels over 90pc. Dungarvan is the largest of the centres with more than 30 units while Thurles has 25 and Johnston 10.

Bannon is one of the biggest managers of Irish shopping centres and retail parks collecting in excess of €75m in rents per annum and administering €20m of service charges throughout their portfolio.

Tara Giles, an associate director in Bannon said managing shopping centres is about understanding how customers and retailers interact, how that interaction generates sales, and consequently rent and capital value for clients.

Indo Property

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