Case Study: Thurles Shopping Centre
Community shopping centre acquired with a mix of performing and non performing retailers. Strong potential to become the main retail destination for the town and catchment.
The asset management strategy was to increase NOI by replacing non performing tenants with new ones. Planning permission was achieved to amalgamate a number of units to allow a larger unit for Elverys, these landlord works were managed. Other occupiers including Costa Coffee, An Post & Specsavers were introduced which has increased customer and spend.
Planning compliance issues have been resolved through new planning grants and delivery of new landscaped areas at the centre.
A surplus site located adjacent to the centre was sold as a non core asset.
The overall asset appearance was improved with investment through service charge and landlord funds with a replacement of the top deck of the MSCP, improved mall environment and improved landscaping.
The number of positive Green initiatives have been increased; the centre is now run by 100% Green energy, with sensor lighting and mall lighting replaced to LED reducing the energy used, mall recycling bins and bike parking. Increased planting including wildflower pollinator planting with a reduced use of pesticides and eco friendly products used.