Eurospar and Safaro Childcare agree 20-year lease at Clancy Quay in Ireland
Global real estate investment company Kennedy Wilson have completed two long-term commercial leases at Clancy Quay, the largest multifamily community in Ireland.
These new offerings will support the strong demand seen for the most recent phase of 246 apartment units brought to the market in July 2020, which are already 46 per cent let.
Safari Childcare has agreed a 20-year lease of c8,500 sq ft in The Ridge building, fronting onto the River Liffey and easily accessible by the South Circular Road. This early learning childcare centre will add a much needed creche to the local community and fit-out works on the unit are currently underway, with opening expected in August 2021.
BWG, trading as EUROSPAR, has agreed a 20-year lease to take c6,400 sq ft of the ground floor of the Watchtower building, part of the recently completed phase of the development. EUROSPAR is enhancing its convenience offer at this supermarket location and will incorporate a deli counter, bakery and internal Insomnia coffee dock and seating area.
With the addition of the most recent phase delivered to the rental market in the summer of 2020, the number of residential units at this signature development will total 875 units, once fully complete. The final six storey Stevens House building will be marketed in Q2 2021, providing 20 new high-specification studio apartments.
Jason Byers, Head of Residential Ireland, Kennedy Wilson Europe, says: “These exciting new tenants will enhance the existing food offerings of Storyboard and The Yard food market and add to the already vibrant Clancy Quay community. This will be complemented by the completion of Stevens House, delivering the first modern studio apartments to be constructed in this cycle.”
Ali Rohan, Head of Ireland, Kennedy Wilson Europe, says: “Clancy Quay builds on Kennedy Wilson’s growing multifamily portfolio, based on prime locations and best-in-class amenities. This award-winning development is an exemplar of the Kennedy Wilson resident offering, having delivered the final phase of the development with leading environmental credentials including BREEAM Excellent in new construction. Aided by our new virtual leasing platform, occupancy is already at 46% and demand is outperforming our projections.”