Irish real estate investment trust Green REIT has confirmed that Toys R Us is to open its first stores in the country at two of its retail destinations.
The American-based toy retailer, which has over 50 outlets in Britain and Northern Ireland, will make its debut at the Westend Shopping Park in Blanchardstown, followed by the opening of a second store at Parkway Retail Park.
At Westend, Toys R Us has leased a 10,000 sq ft unit (with a 7,000 sq ft mezzanine floor) at a rent of €325,000 (£238,334) per annum, while at Parkway it has signed a €200,000 (£146,665) per year lease for a 17,800 sq ft unit. These were the last remaining units at both locations.
Chief Executive of Toys R Us Ireland, Brian Donoghue, explained that this is only the beginning of the retailer’s expansion into the country.
“We plan to open up 10 outlets in Ireland and we are delighted to have chosen Westend Shopping Park and Parkway Retail Park as the locations of our first two stores,” he said.
“These locations give us a great exposure to our target consumer base, with the store in Westend to open in September and Parkway in October.”
Toys R Us will join an impressive occupier line-up at Westend Shopping Park, which includes Next, Nike, New Look, Lidl, and Argos. At Parkway they will join retail brands including Homebase, TK Maxx and Currys/PC World.
Ronan Webster, Asset Management Director of Green REIT Ventures Limited, said: “We are very excited to welcome Toys R Us to both Westend and Parkway with their first two stores in Ireland and we believe they will prove to be a great draw for shoppers while further improving the strong tenant mix in both locations, which are now fully let.”
Savills and CBRE acted for Green REIT and Bannon Commercial acted for Toys R Us.
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