Global retailers continue to expand footprint in ireland
- Retailers Are Still Expanding in Ireland Despite Exiting Other Markets - Dublin and Cork Are Growing At the Same Rate as Singapore and LA - Over a Quarter of Global Retailers Are Operating in Ireland
Dublin, 18 April 2011 – While some mature retail markets witnessed no growth or even an exiting of global retailers from their key centres over 2011, Ireland continued to attract international retailers to its prime streets. It has maintained its position as 32nd most targeted market for international retailers, according to the 2012 edition of How Global is the Business of Retail? by leading global property adviser CBRE.
CBRE’s annual survey – now in its fifth year – has shown that despite tough trading and economic conditions, the Irish retail market remains on the radar of global retailers aiming to expand their footprint in to new markets. On a city level, Dublin and Cork both grew at the same rate as more internationally diverse markets such as Singapore, Los Angeles and Madrid, showing that retailers still regard the Irish retail market as an important European location.
The survey carried out by CBRE and due to be launched in full later today, mapped the global footprint of 326 of the world’s top retailers across more than 200 cities to identify trends in global retail expansion at national and local levels. Standing at 64th and 146th respectively in the overall city rankings, the retail footprint of global retailers in both Dublin and Cork has grown by 0.3% over 2011, despite remaining the same or even dropping in other key global retail markets.
Florence Stanley, Executive Director of CBRE, commented:“While we can’t claim to be on par with such global retail hubs as London and New York, it is encouraging to see that Ireland is still on the strategic radar of international retailers aiming to expand their footprint globally. North American retailers have been the most active in their expansion plans globally and we have certainly witnessed that here in the last twelve months, following the addition of Hollister, Abercrombie and Fitch and Disney to some prime retail units.”
According to CBRE’s How Global is the Business of Retail? survey, Ireland holds its position in the top half of the rankings at 32, accommodating 26.4% of the retailers surveyed by CBRE.
Michael Harrington, Pan Ireland Head of Retail, CBRE, commented:“This survey has shown the continued willingness of global retailers to expand in to new markets and the huge potential that is still out there for this expansion to continue despite tough trading conditions. There is huge scope for this to continue in to 2012, as we are already expecting a number of new entrants in to Europe over the coming years. Given Ireland’s location, demographic and the relative affordability of retail accommodation in the current market, it will continue to be on the radar for global growth plans within Europe”.
Aaron Richardson CBRE +44 20 7182 3329 / +44 7985 876 212/ firstname.lastname@example.org
Sarah Bishell F T I Consulting +44 (0)20 7269 9361 /+44 (0)7711 557 830 / email@example.com
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 110 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.