H&M coming to Marshes Shopping Centre, Dundalk
Kennedy Wilson Europe Real Estate Plc (LSE: KWE) an LSE listed property company that invests in direct real estate and real estate loans in Europe, announces that it has signed an agreement for lease with high street retailer H&M (Hennes & Mauritz) to open a new enlarged 16,000 sq ft store at Marshes Shopping Centre, Dundalk, Co Louth. Planning permission has already been received to carry out the necessary works to enlarge the unit and H&M are expected to start trading at the Marshes in time for Christmas 2015 following completion of works.
In addition, KWE has also signed a 1,800 sq ft new lease with popular Danish retailer, Tiger, who opened its store in June. This is the first Tiger store on the East coast outside of Dublin.
With over 40 shops, including Dunnes, Penneys, River Island and New Look, the Marshes Shopping Centre is the leading destination shopping venue for the north east, catering for women’s, men’s and children’s fashions, homewares, gift and technology shopping, while also providing an excellent food and drink offer making it the destination shopping location.
Peter Collins, Chief Operating Officer of Kennedy Wilson Europe and Head of its Irish business, commented: “We are delighted to announce these two significant developments at the Marshes Shopping Centre. The decision by H&M and Tiger to locate at the Marshes helps consolidate its position as the premier shopping centre in the region. These lettings also significantly broaden our retail offering at a time that we are seeing a notable improvement in footfall at the centre.
“We expect to announce other major lettings at Marshes over the course of the next few months, which will build on this momentum”.
Gillian Maxwell, Operations Director for Tiger Stores, said: “Dundalk provided the perfect location for a new store. Dundalk is a super town for shopping and it felt like an obvious next step for us. With Dundalk Institute of Technology and lots of international businesses based in the town, there is a real buzz around Marshes, and we are really excited to be part of that.”
A spokesperson from H&M said: “We are constantly looking for new and exciting opportunities to expand our brand and are delighted to be opening in Dundalk this autumn. The store will offer fantastic fashion and quality clothing at the best price in a sustainable way.”
CBRE and Bannon advised KWE.