Liffey Valley Shopping Centre
A c.46,000 sq.m shopping centre located on the N4 just outside Dublin city centre. It comprises c.75 shop units and is anchored by M&S, Boots and a 14 screen cinema. It has c.3000 free car parking spaces. The centre opened in 1998.
The Brief
The client engaged us to act for them on the basis that we were to provide quality advice on the asset enhancement, create capital gain, add a quality tenant mix, increase rent in terms of new lettings and rent reviews, and to maintain a low/competitive service charge whilst ensuring the smooth running of the centre providing a well managed scheme.
The Client
Quarryvale 2 and 3 Ltd
Our Solution
Savills has been engaged right from the start of this project, from site assembly through to current active management and letting of the scheme. The same staff members are working on this project since it started, maintaining stability and credibility. We have endeavoured to maintain a fully let scheme since it opened in 1998. On the relevant review periods we created evidence by introducing new rental deals which in turn provided rental increases of over 100% in 2004 and a further c.30% in 2009.
How We Added Vaule
Savills introduced strong rental growth from numerous lettings. Liffey Valley would be ranked as one of the top shopping centres in Ireland. The centre has maintained a high quality retail mix, spend, customer user friendliness and excellent footfall traffic which has seen strong growth over the years. The centre continues to trade extremely well through tougher market times. Having the same team involved in the management, rent reviews and lettings has benefited the scheme.
