Post-recession, Ireland is seeing the emergence of a new breed of Retail and Leisure operators. Whilst rural pubs continue to decline, a new wave of leisure entrepreneurs are actively reinvigorating the pub and restaurant sector. At the same time, with increased public scrutiny on personal health and fitness, we are seeing the first growth signs for many years in the fitness, leisure and tourism sectors. New initiatives – Greenway businesses, 24-hour gyms, outdoor boot camp franchises are all beginning to surface and grow. Consolidation of restaurant and pub chains and a vibrant city scene is attracting foreign investment and we will see more mega-mergers in the coming months and years. International retailers are back and the key money which disappeared for a decade has re-appeared for key lease locations in Dublin and beyond. The sector is hot at the moment and our clients are right in the middle of it.
About the Sector
In most retail and leisure businesses, their real estate will form the cornerstone of the business. The ban on upwards only rent reviews has helped encourage retailers to take risks on new stores and we have a very broad range of experience in assisting with this key element of the business.
We can advise on:
- Lease negotiations including fit-out agreements
- Lease restructures
- Rooftop / Mast licences with major operators
- Marketing suites and showroom arrangements
- Kiosk licences and concession arrangements (including festive pop-ups)
- Temporary occupation and consent arrangements
- Concession, franchise and licence agreements
- Pub and restaurant licensing structures and processes
- Dispute resolution
- Sale of units/unit assignment and transfer
We have the privilege of working on both sides of the fence when it comes to property deals in the sector. Amongst the recent work we have done:
- Sale of a €23m Retail Park including 8 tenanted units to a Pension Fund
- Lease arrangements for a new UK retailer taking 6 new units all across Ireland
- Joint venture arrangements for a new gym development in South Dublin
- Complete development and letting of a multi-tenanted mini-mall in North Dublin – including food, leisure, pharmacy and retail users
- Compilation of an 18 unit leisure business throughout Dublin encompassing some of the highest profile branded pubs and restaurants in the city
We have also supported a number of well-known UK retailers expand into the Irish market and helped them to familiarise themselves with the Irish property system. We are currently working with many big brands retailers across fashion, beauty, leisure, lifestyle, health and gaming. These include well known high street stores, shopping centres, gyms, health centres, spas and many of Dublin and Ireland’s newest venues including pubs, restaurant and night clubs.