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Retail Is Still Booming For Some: Hammerson Irish Portfolio "Virtually Fully Occupied"

Dundrum shopping centre, Dublin
Dundrum shopping centre, Dublin

British REIT Hammerson reported increased income and occupancy for its Irish portfolio.

In its results for 2017 Hammerson said the net income generated by the Ireland portfolio increased by 7.4% to £34.8M.

The company's Irish portfolio is “virtually fully occupied” at 99.7% with most of its profits delivered by Dundrum shopping centre, it said. Hammerson owns the shopping centre in a joint venture with Allianz.

The 2017 results included leasing deals with Smiggles, Hotel Chocolat and Moss Bro’s in Dundrum which the company acquired in 2016.

In addition to its Dundrum site, Smiggles has signed a lease in the Illac centre, part-owned by Hammerson with Irish Life, for its first store in Dublin’s city centre.

In the Pavilions shopping centre, the retail company has secured Superdrug and Butler’s Chocolate Café as tenants since taking ownership in September.