Re: Re: Academy St Development

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From today’s Examiner:

International fashion chain H&M are to be one of the key retailers in Cork city centre’s almost completed €500 million Opera Lane development.
In a welcome jobs boost to the city, 100 to 150 jobs are expected to be provided in the store which will open in late autumn.

H&M’s long-anticipated arrival will be seen as a boost to the O’Callaghan Properties development on St Patrick’s Street, where identities of new traders have been expected since late last year. The collapse in the retail economy has, however, seen negotiations drag out over a longer than expected period.

H&M’s confirmed arrival to a 27,000sq ft unit at the corner of Academy Street/Emmet Place is expected to trigger several other completed signings from traders keen to ally themselves to such a strong international brand.

Financial director of O’Callaghan Properties Brian O’Callaghan described the development as “great news for the project, and for Cork.”

He went on: “It is a big marquee brand and its arrival is a ringing endorsement of the scheme. We are looking forward to announcing other major names in the coming weeks.”

An OCP spokesperson said that Opera Lane (the original name Opera Avenue has been amended) was 75% let or in advanced legals, and the adjacent Half Moon Street development had 60% of its retail space negotiated, via letting agents Savills.

Swedish-based fashion retailer H&M has more than 1,800 stores worldwide, in over 34 markets, and has 10 outlets already in Ireland, primarily in and around Dublin, but also in Limerick and Athlone.

Good to see they’ve taken our advice and dropped the pretentious ‘Avenue’ from the title.

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