Value brands are still on the expansion trail in the Irish market but the big issue remains the abolition of upward only fees.
Larry Brennan, chairman of Savills and director of retail for Ireland, said today at MAPIC, that opportunities are still tough, although they are doing deals with the likes of Aldi and Lidl.
“Two years ago we were in a major decline in terms of retail spend, but, while retail sales are still dropping, the decline is much lower.”
But, one positive said Brennan is the hope that the government will abolish Upward Only Rent Review terms in all leases. The bill to bring in the ban is due to be made before Christmas. “This is a hot topic and it’s a key issue affecting the market today,” he said.
noella.piokivlehan@estatesgazette.com
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