Blackrock Village Centre €10M Refurbishment Nears Completion - Construction Network Ireland - Construction Network Ireland

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Published in Commercial Property on 11/09/2019

Blackrock Village Centre €10M Refurbishment Nears Completion

#savills

CNI Editor reports

Works which began on Blackrock Village Centre at the end of January this year are due to reach completion in May 2020, bringing 1,501 sq.m. of retail space to the Dublin leasing market.

The renovation of the centre incudes a complete upgrade of the common areas, realignment of the malls and circulation and the installation of a contemporary, predominantly glazed covering, which will retain natural ventilation. A new façade and entrance off Frascati road will transform the exterior of the centre and car parking facilities will also be upgraded, with the introduction of a new vehicle exit onto Rock Hill.

The upgrade, which will be fully completed in May 2020, will provide a fresh environment for both retailers and customers to meet in keeping with modern consumers’ expectations.

Constructed in 1984, Blackrock Centre is located midway between Dublin City Centre and Dalkey, in the affluent suburban town of Blackrock. It occupies a high profile site on one of Dublin’s busiest arterial traffic routes serving numerous south county Dublin suburbs, and has over 400,000 people living within a 20 minute drive.

The centre will extend to 6,176.6 sq m upon completion and is anchored by a 2,712 sq m SuperValu, one of Ireland’s largest grocery retailers. Parking is provided for over 200 cars and the centre is adjacent to Blackrock DART Station.

There are over 30 units in the centre and well known retailers include: Lloyds Pharmacy, Holland & Barrett, L’Occitane, Dubray Books and Diffneys Menswear. Blackrock is also an established and popular suburban office location, with major occupiers including Zurich Insurance, Canada Life, Eagle Star, IFG, Ulster Bank and AIB.

Savills Ireland who, along with BNP Paribas Real Estate are acting as joint agents on the centre, say they expect demand for the limited number of vacant units to be strong given the location and catchment.  The immediate area is thriving and has experienced consistent growth – with 84,568 persons within 10 minutes of the site, an increase of 5% over the last 5 years.  Having had several enquiries from interested parties since it became public that Aviva had secured planning permission for the refurbishment in November 2017

Patrick Roe of Aviva, which took full ownership of the property in 2014, said “Investment in Blackrock has been on an upward trajectory in recent years – as evidenced by the various construction works currently underway in the village and surrounding environs. The redevelopment of Enterprise House is well advanced with the tenant, Zurich Insurance, due to commence their fitout before the end of 2019.   Launching this second phase of the Blackrock Village Centre project reinforces Aviva commitment not just to the area, but to the provision of carefully crafted retail and office space that can facilitate modern suburban living, while complimenting with the visual and cultural aspects of the area.  The centre is being upgraded so as to deliver a modern contemporary environment for both customers and retailers”.