Commissioner Michael McGrath officially marks completion of major refurbishment programme as owners set out long-term vision for landmark Cork retail destination
Joint venture partners Patron Capital and Lugus Capital have completed a €2.5 million investment programme at Blackpool Shopping Centre, marking a significant new chapter for the landmark Cork retail destination, its retailers and the wider northside community.
The investment has delivered a comprehensive upgrade of the centre environment, including new flooring, improved lighting, new bulkheads and signage and enhancements across public areas. It forms part of a wider strategy to build on the centre’s established strengths – its accessibility, loyal customer base, retail mix and community links – while creating a modern environment capable of attracting new retailers and customers.
Open for more than 25 years, Blackpool Shopping Centre and Retail Park is home to over 60 businesses supporting more than 1,900 jobs. The ownership partnership also intends to position the Shopping Centre and Retail Park as one integrated destination offering retail, food, services and leisure. Recent new additions to the shopping district include, JYSK, Eason, Kerry Hanaphy, The Pantry & Box’d coffee.
The investment comes at a time of wider planned development in the area, including the new railway station at Kilbarry, which will significantly enhance public transport connectivity for Blackpool and support its future growth.
European Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, Michael McGrath said:
“This investment is a very positive statement of confidence in Blackpool, in Cork’s northside and in the future of established retail centres that play such an important role in the communities they serve.
For more than 25 years, Blackpool Shopping Centre has been part of the fabric of life in Cork, serving generations of families and providing an important hub for local employment and enterprise. Investment on this scale will help ensure that the Centre continues to play that role into the future – supporting jobs, creating opportunities for retailers and businesses, and providing a high-quality environment for the thousands of people who visit and use the Centre every week.”
Roger Dineen, Head of Asset Management Lugus Capital, said:
“The rationale for this investment has been to protect the centre’s strengths while improving the environment in which our retailers operate and our customers shop. The refurbishment is the most visible part of that programme, but our ambition goes beyond the physical improvements. We want to continue strengthening the tenant mix, attracting new brands and creating a destination that can perform strongly for the long term.”
Stephen Green, Senior Partner , Patron Capital, said:
“Blackpool has an established place within the Cork retail market and, importantly, within its local community. Together with Lugus Capital, we saw an opportunity to make an impactful investment in the centre, enhance the quality of the environment and position it strongly for its next phase of growth.
“The work completed to date is a clear demonstration of that strategy in action. We believe there is further potential to be realised at Blackpool and remain committed to working with Lugus and the wider team to support the centre’s continued development.”