Dealz to open shop at previously occupied Penneys store in Rathfarnham
By Maurice Garvey
DISCOUNT retailer Dealz is preparing to open one of its largest stores in Ireland at the Rathfarnham shopping centre.
The 1,130 sq m ground floor unit was previously occupied by Penneys, which closed its doors in February after 28 years, and has left a gaping hole in the retail needs of the shopping centre.
Dealz will be opening in the old Penneys store
Dealz has signed a lease of up to 10 years, with an annual rent roll of about €250,000.
David McKenna of McNally Handy acted on behalf of the landlord while Muireann Griffin of Cushman & Wakefield represented Dealz.
“It’s a blow for any centre to lose Penneys but we are delighted to secure Dealz as a tenant. The store will generate high levels of footfall,” said McKenna.
“The new tenancy has also given us the opportunity to renovate that part of the centre, both internally and externally. It’s quite the transformation.”
The 7,430 sq m Rathfarnham shopping centre, which is anchored by Tesco, has 30 units, a mix of retail outlets and ancillary services, and a handful of small vacant units.
Dealz, which is part of the Pepco Group, has opened more than 60 stores in Ireland since entering the market in 2011.
Last year it announced its intention to open a further 10 stores with an investment of €10m. Dealz owns around 70 stores in the Republic, while the discount retailer has been growing rapidly in Poland and expanding in Spain.
They currently have stores located in The Square, Tallaght, Fonthill Retail Park, Lucan and Nutgrove Shopping Centre in Rathfarnham.
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