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Thurles Shopping Centre Case Study

Case Study: Thurles Shopping Centre

On Acquisition

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.

Actions Undertaken

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.


Performance Stats

Break options not exercised – 4
Number of new lettings – 7 Renewals – 9
Non Renewals – 1
Post Covid – 2 new lettings & 1 break not exercised

Thurles Shopping Park Timeline


Shopping centre acquired in Q4


Replacement of a number of non-performing occupiers. Upgrade of top deck of multi storey car park to improve appearance & performance.


Relocation of some occupiers to allow for 4 units to be amalgamated into one. Planning permission achieved to deliver Elverys Sports which required some landlord amalgamation works.


Elverys take possession of their new store Specsavers open their store


An Post open their new store Costa Coffee open their new store which also delivered a new feature canopied entrance onto the mall


Covid 19 protection measures employed. Planning permission secured to deliver new external landscaping, outside dining space overlooking the River Suir and a new delivery yard.


With the relaxation of construction restrictions, planning works were delivered. This allowed planning compliance delivered for the centre.