City Square Sold??

GandhiwasfromBallyfermot

I was listening back to one of the Waterford Council Meetings (I know, I have a lot of time on my hands) and one of the dinosaurs on the council mentioned that city square had been sold but nothing more was said. Has anybody heard anything?

JohnC.

Don't know about a sale being completed, but I know it was put up for sale around September.

Asdfgh2020

Chinese 🇨🇳 consortium bought it.,,,nice ‘hair-cut’ price as well apparently…….the former Debenhams units to be converted into ‘living above/along side’ the shop type accommodation

Valhalla90

https://www.boards.ie/discussion/comment/118536825#Comment_118536825

Hopefully not

azimuth17

Vacant Debenhams would obviously affect the rent roll , hence a lower market price, but no chance of living accommodation planning being granted IMHO, Unless they add a floor.

Valhalla90

https://www.boards.ie/discussion/comment/118536825#Comment_118536825

The former Debenhams unit should be split into two units, cant see it getting approved for accommodation makes no sense and would need planning approval etc.

914

Ah lads, I think Asdfgh2020 is pulling your leg about living above and beside

Valhalla90

Sold according to the News & Star!

Valhalla90

GandhiwasfromBallyfermot

I saw that alright. Sold for €18m which is a big loss for the previous owners. The asking price was around €24m I think. They bought it for €21m and then pumped in all that cash for the empty units at the front and the new food court.

Sold to Neville's Construction who also own the Tower Hotel. Will be interesting to see what they do with it seeing as they are a construction company.

BBM77

https://www.boards.ie/discussion/comment/118977523#Comment_118977523

Fair play to Neville Construction for investing in Waterford again. Considering the way they were treated with the Tower Hotel could not blame them for not touching the place again.

Hopefully by Christmas there will be some big names gone into the empty units in City Square.

Flow Motion

City Square and indeed Waterford should think about going down the independent route rather that seeking the big names. The big names are not willing to relocate to the city @ moment. Open the doors to the smaller independent locals & Irish artisans. There's plenty of them about at present. Fill up the empty premises. Make Waterford a different kind of place to shop rather than the archetypal High St roll of names. If they see people are shopping here they wont be too long following the cash.

BBM77

https://www.boards.ie/discussion/comment/118979847#Comment_118979847

Well that is true. Realistically though in City Squares case it is the big name that could only afford the units.

Valhalla90

https://www.boards.ie/discussion/comment/118979847#Comment_118979847

This wont work! People leave the city because they want the big names that we currently don't offer. We need a mix of both strong international and strong local retailers, both will benefit.

GandhiwasfromBallyfermot

Agreed we need the big names while supporting the locals. As great as they are, I don't think most of our local shops like TRM or The Hanger are going to be able to fill the big empty units in city square....

spankmemunkey

spankmemunkey

I've lived in the city since about 2006 and every since I've been here City Square is a bit of a turd, I know locals wont like to hear that but it is, there has since then been constant empty shops and not much pull in there or poor set up, If i want to do a bit of decent shopping ill head to Mcdonagh Junction, I think its a damn shame I'm doing that and wish i had the same shopping experience in somewhere like City Square but theyve just constantly got it wrong in that shopping centre.

914

https://www.boards.ie/discussion/comment/118980872#Comment_118980872

Just had a look at McDonagh Junction shops, as it has been a while since I was there, am I right in saying Waterford has all the same shops in the city centre with the exception of Next and H&M, and champion sports although JD sports v Champion is very similar

https://macdonaghjunction.com/store-directory/

I agree with getting things wrong in city square, not sure I'm convinced by the food hall.

That said if they can fill Debenhams and the front units it would be some lift to the area

JupiterKid

City Square is now 30 years old - and despite the recent enough refurb - it still looks dated and badly needs a change in its fortunes if it is to successfully compete with more modern centres such as McDonagh Junction in Kilkenny and Mahon Point in Cork.

Whatever happened to the planned Newgate Centre?

spankmemunkey

https://www.boards.ie/discussion/comment/118980942#Comment_118980942

yeah look its the range of shops in the one space under a roof, some people are up to their eye balls in work from one end of the week to the next and its nice to drive somewhere park and get all you need under the one roof, (god that sounds like the ad on the radio for lisduggan shoppin centre Boi!!) but ye know what i mean, its not all squashed in and i dont think all the shops in Mcdonagh junction are in waterford or vice versa

Valhalla90

McDonagh Junctions big draw is H&M, even at that its not a very big H&M store compared to the ones in Dublin. City Square could really up its game if it got the likes of H&M, Zara, New Look, M&S in.

914

https://www.boards.ie/discussion/comment/118980973#Comment_118980973

Ye I get that but that can also have a negitive impact, let's say the majority of people in KK or day visitors just head to McDonagh and do all their shopping and leave, where does that leave the town centre?

I think it we have to fill the units with something like, H&M, Zara, M&S, New Look, Next it would have a huge impact.

Hopefully the Neville crowd have a better marketing strategy to get the units filled with good quality shops

914

https://www.boards.ie/discussion/comment/118980942#Comment_118980942

Newgate Centre is gone, the latest plans for that area is student apartment's! Yet the SETU will be looking to build student apartment's on the cork road, you couldn't make it up really

Valhalla90

At least there is certainty now with regards to retail in the city, North Quays I believe was making some of them hold off! now with the units available in City Square some may choose to locate there if they get good terms. The big 3 stores missing Zara, H&M, M&S could all fit into City Square especially if the old Debenhams is divided up into smaller units.

spankmemunkey

https://www.boards.ie/discussion/comment/118981514#Comment_118981514

I thought Frisby was building student accommodation on the old Crystal Site?

niallo76

https://www.boards.ie/discussion/comment/118981080#Comment_118981080

Totally agree with you,was up at Mcdonagh Junction last week.The food hall area is a nice area,but it still relies on a Starbucks and a O Briens sandwich..and apart from H&M,everything else,we have down here.as was previously said,If a few units went into the former Debenhams,it would give a much needed boost to City Square..

914

https://www.boards.ie/discussion/comment/118982605#Comment_118982605

Heard that also! Council said due to the changing landscape of retail, retails isn't and option and there is no desire for a hotel so the latest plans for Michael St was student apartment's!

Such ambition!

Valhalla90

The site could not be more suitable for a hotel its perfect, as you mentioned no ambition and no accountability.