Monday September 21, 2020

Owners of Dundrum Town Centre report €4m drop in rental income

Hammerson has released a new set of results that serve as a stark reminder of the challenges facing the retail sector. Here are five key takeaways from its report

Killian Woods

Business reporter

@killianwoods
6th August, 2020
Work on the new Brown Thomas store at Dundrum Town Centre began in July, the €15.56 million project will be finished next summer. Picture: Rollingnews.ie

1. Rents are down significantly

Hammerson, the owner of Dundrum Town Centre, recently announced it needed to raise nearly €900 million to weather the effects of the coronavirus crisis after rental income collapsed in recent months.

The group owns Dundrum Town Centre, the Ilac Centre and Pavilions in Swords. Rental income at the Dublin retail hubs for the first six months of 2020 was €16.57 million – €4 million lower than in 2019.

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