CLIC PRIME PORTFOLIO
CORK CITY CENTRE RETAIL MARKET
Cork as a leading centre of production and research in
Europe for the Bio-Tech, Pharmaceutical, IT, Agri-foods
and Electronics industries has seen its population grow
rapidly over the past few years. The south west region
has a projected population growth of 20% over the
next few years and this anticipated population growth
is expected to have a positive impact on high street
retailing in Cork.
Patrick’s Street is the premier retail location in
Cork City Centre and there is a strong international
tenant line up concentrated within the Patrick
Street environment. This includes Marks & Spencer,
Debenhams, Brown Thomas, TK Maxx and Penneys.
The new Opera Lane development on Patrick Street
houses H&M, Next, Top Shop, River Island and Gap.
This strong line-up of international and domestic
retailers makes Cork a strong retail comparison
destination which is unrivalled outside of Dublin and
is powerful enough to attract a strong level of repeat
foot fall to the City Centre. The City Centre also has
a diverse mix of cultural, food and retail all combining
to deliver a shopping and leisure environment which is
difficult to rival. There are in excess of 90 retail units
located on Patrick Street.
There has been significant capital expenditure within
Cork City Centre from the Local Authority over the
past decade with Patrick Street and the Grand Parade
receiving a major re-vamp. In addition, there is a
significant number of multi storey car parks within the
City Centre precinct, these are located on South Main
Street, Paul Street, The Grand Parade and Merchants
Quay. A Park and Ride service from the Southside of
the City services the City Centre.
With improving consumer confidence there has been
a substantial take-up of new space in the past few
months with international multiples such as; Starbucks,
Superdry, Holland & Barrett, Hairspray and Pandora all
opening outlets on Patrick’s Street. Investor confidence
is starting to strengthen as evidenced by recent
transactions on Patrick’s Street.
LIMERICK CITY CENTRE RETAIL MARKET
Limerick City comprises a compact retail area with the
prime offer centred on the northern end of O’Connell
Street adjoining William Street and Cruises Street
together with the Arthurs Quay shopping complex. The
City Centre has a strong Department Store presence
with Debenhams, Brown Thomas and Penneys all
located adjacent to the Cruises Street pedestrianised
core. Dunnes Stores occupy a newly built unit on
Henry Street and Tesco have a large supermarket unit
in Arthurs Quay Shopping Centre.
Limerick City Council has committed substantial
capital expenditure to the Limerick retail core over
the past nu X