Reply To: Look at de state of Cork, like!

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Originally posted by d_d_dallas
I do not understand how quoting prime rents can be used to support a theory when a tenant list is used to deride. Office space and costs provide a very good indication as Diaspora pointed out, however tenant lists are equally as important as it demonstrates the types of companies willing of invest in an area and the overall quality of an end product.

I know exactly what your saying and of course the ‘anchor tenant’ will make or break a scheme. But listing non-anchors lengthens the posts.

Originally posted by d_d_dallas
Does anyone think that the redeveloped ILAC will be a success unless it can attract A-list tenants rather than the decidely mostly F-list it currently has. Good development is founded on the promise of a financial return. Bid hitting retail outfits with large pockets to pay large rents make it worth while to invest in a shiny impressive premises. The same applies to the Cornmarket St development so championed by Lexington.

The ILAC suffered for three reasons, firstly the type of retailer in the Irish market now wasn’t here when it first opened. The biggest names back then were all domestic or minor UK like BHS there were no Zara or House of Frazier looking for space in Ireland.

Secondly most of the action was in the suburban shopping centres such as Northside or Dunlaiore, inner city Dublin was not a pleasant experience back then.

Thirdly most of the better occupiers of the Ilac centre left for the better Jervis Centre in 1995, and rightly so.

The Jervis Centre can withstand the onslaught that will be Dundrum because it is a pleasant space to shop in.

Can the Central Merchants (Quay?) centre in Cork survive O’Callaghans edge city super mall?

Todays a-list tenants are not necessarily going to be so prime in 5-10 years time fashions change the architecture remains.

A bit of tax designation for the Docklands wouldn’t be a bad idea, the IFSC model works economically if not architecturally. As rents rise occupiers expect a better looking building, that is why I am often jealous of projects in London such as the Gherkin or even the older LLyods building.

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