Retail

The retail element makes up 36.0% of the passing rent and is backed by excellent covenants. Overall retail occupancy at The Arena Centre is 98% occupied. The final two vacant units are reserved by interested parties.

Tallaght benefits from a strong catchment area and the organic growth of its retail presence can be linked to its location in southwest Dublin which targets customers from Dublin, Kildare and Meath.

The Arena Centre has a diverse mix of retail tenants within its 3 large warehouse units and six smaller units, which extend to approximately 95,915 sq. ft. (8,911 sq.m.). The tenant line-up is largely classified as destination occupiers including high-profile names such as Woodie’s, Maxi Zoo, and Polonez. Woodie’s DIY also includes an extensive garden centre on the site and is the only Woodie’s within a 7km radius.

There is also a large Lidl (owner-occupied) on the site, which drives footfall into the scheme. Lidl recently refurbished their unit to an excellent standard.

COVENANT

Grafton Group plc is a builders merchants business based in the United Kingdom and Ireland. It is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index. The group also has operations in Belgium and Poland. The Group is the largest DIY retailer in Ireland trading from 37 stores nationally under the Woodie’s brand and also operates a kitchens business that trades from seven stores under the In-House brand. The company had a turnover of over £2,110m up to 31 December 2021 reflecting a +25.6% increase in 2020.