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2025 Retail Parks Report

10/12/2025

Trends shaping retail parks performance

  • Retail parks remain near full capacity
    Vacancy has fallen to c.3.3%, with demand driving performance rather than new development, signalling one of Ireland’s most stable retail formats.
  • Home, value and leisure retailers continue to lead growth
    Furniture & Home Furnishings remains the largest category, accounting for just over one-fifth of total GLA.
  • Argos and Homebase space re-absorbed into the market
    Backfilling of major boxes, including five Range and three B&Q deals, reflects resilient occupier appetite for well-located big-box space nationwide.
  • Capital targets secure income and strong catchments
    Over €350m in major transactions completed in 2025, reinforcing confidence in well-let retail parks with compelling yield profiles.
  • A format aligned with Irish consumer trends
    Stable employment, rising real incomes and tight supply continue to underpin growth, with retail parks offering resilient, income-secure investment opportunities.
 

Contacts

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Karl Stewart

Director, Head of Retail
Dublin, Ireland


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Tom McCabe
Tom McCabe

Director, Head of Research & Insights
Dublin, Ireland


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Peter Love

Director, Retail & Capital Markets
Dublin, Ireland


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Alex Trimble

Senior Research Analyst
Dublin, Ireland


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More Insights

Market Forecast
Research

European Logistics & Industrial Market Forecast

We anticipate that occupier activity will remain subdued over the remainder of 2023 and into early 2024 before rallying as businesses feel more optimistic. Availability will remain constrained as developers slow their speculative deliveries. Rental growth is expected to slow in 2024 and beyond but will remain in positive territory across European markets.
Brendan Smyth • 06/12/2023
two people talking
Research

Offices, Obsolescence & Opportunities

Irish office markets are clearly undergoing a significant post-COVID adjustment which is likely to play out over the next decade. Repurposing surplus offices into alternative use is expected to form part of that adjustment.
Tom McCabe • 25/10/2023
DevLandMarketbeat_Q22023
Insights

Irish Development Land Market

Deal flow drops below levels seen during COVID pandemic. Activity in the development land segment was subdued in the first half of the year with approximately €130 million worth of transactions across 45 deals, down 67% from €390 million in the first half of 2022 and below levels seen during the height of the COVID pandemic in 2020.
Tom McCabe • 09/08/2023

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