Dublin centre marks first major completion of retail development since recession
The Frascati Centre in Blackrock, Dublin, has now fully opened after its €30m extension and refurbishment, marking the completion of Ireland’s first major shopping centre development since the recession.
The new-generation centre offers a diverse mixtures of tenants, with a third of its newly developed space given over to health and beauty, and another third dedicated to food and beverage. It is situated in the heart of the most affluent area of the country.
The centre has doubled in size and now has over 170,000 sq ft for retail and other uses. Anchor retail tenants include M&S, Aldi and Debenhams with Vodafone, Boots, Bannon Jewellers, Vienna Shoes, Bookstation, Pamela Scott, Serena Boutique, Sun Bear Gelato, Health Store and Murrays Mobile also having outlets there.
The centre also has Irelands first dedicated Health and Beauty quarter which includes a flagship new Peter Marks, gents grooming/pampering studio at Sugar Daddys, Sugar Coated manicures, Sisu Aesthetics Clinic beauty plus Blackrock Medical Centre, Yoga Hub and a gym.
John Bruder of Burlington Real Estate, the Irish operating partner of owner, Invesco Real Estate, a global real estate investment manager said: “This centre will provide the most modern retail offering in the country, outdoing all of its competitors for design and style. The diversity of what is on offer at Frascati is central to a strategy of attracting customers to visit retail outlets despite the prevalence of online shopping in modern culture.
“While customers are finding online shopping convenient for various purposes, our attractive and comfortable food and beverage space and high-end health and beauty quarter along with modern leisure and medical facilities ensure visitors get an experience here that they cannot get through online shopping.”
CBRE and Cushman and Wakefield are the joint letting agents for Frascati. The Frascati Centre project is being undertaken by Burlington Real Estate on behalf of Invesco Real Estate, a global real estate investment manager.