Tenancy & Income Analysis
LEASING OVERVIEW
- Penneys’ (Primark) only suburban store in Cork, where they have been in occupation since 2007 reinforcing the centre’s position as a dominant suburban scheme
- 68% of tenants are categorised as renowned national and international brands
- Lack of cross over tenants adds the possibility to expand the tenant offer and diversify the mix even further
- Consistently low vacancy rate of 1.5%
- Opportunity to increase rent roll through letting of vacant units and actioning upcoming rent reviews
- Potential to actively engage with tenants in order to improve the WAULT
68% of tenants are categorised as renowned
national and international brands.
TOP TEN TENANTS BY PASSING RENT
| Unit No. | Lease Name | Tenant | Annual Passing Rent |
% of Total Passing Rent |
Unexpired Lease Term |
| Anchor | Primark Ltd | Penneys | €1,226,000 | 22% | 14.0 |
| 48/49 | New Look Retailers (Ireland) Limited |
New Look | €365,000 | 6% | 0.8 |
| External unit | The Governor & Company of the Bank of Ireland |
Bank of Ireland | €292,033 | 5% | 3.3 |
| 54/55 | Donese Wilton Limited | Lifestyle Sports | €203,000 | 4% | 10.8 |
| 45 | The Works Stores Limited | The Works | €150,000 | 3% | 8.2 |
| 24 | Wilton Chi Limited | Café Hi | €142,500 | 3% | 13.3 |
| 56 | Sara McGregor | Homefront | €131,820 | 2% | 14.3 |
| 33B/34/35/36 | J.R. Porter (Wilton) Limited | Easons | €127,000 | 2% | 1.3 |
| 28/29/31/30C | Bushgrove Limited | Euro Giant | €120,000 | 2% | 4.1 |
| 3 | Game Shop Limited | Game Stop | €100,000 | 2% | 10.2 |
| Total | €2,857,353 | 51% | 9.6 |
