Page 41 - RLI November 2019

MIXED-USE PROFILE - EUROPE | CHERRYWOOD

A New Way

of Thinking

Currently under construction, the upcoming Cherrywood

mixed-use project represents a step change in scale retail in the
buoyant city of Dublin. Here, RLI sits down with Derek Rossel,

Development Director at Hines, developers of this strategic
urban development to discuss the features visitors can expect

when the scheme opens to the public.
ChERRywOOD TOwN SqUARE

“Cherrywood is a reboot of scale herrywood is the largest new sustainable creating the ultimate experience for the customer. These
retail in Dublin and as such we greenfield urban development in Ireland. The include a 3,000sq m restaurant and bar street under one
masterplan of the 324ha site will include a retail-
roof and a 2,000sq m experiential food hall connected to a
have opportunities to introduce C led town centre of some 350,000sq m, Grade destination rooftop bar with views of the Irish Sea and the
new concepts, formats and A workplaces, over 9,500 homes, 18,000 office workers, six Dublin Mountains.
new schools, three major parks, an extensive network of
The Cherrywood Town Centre sits at the geographical
brands to consumers who demand jogging and walking trails and a future population of more and social heart of the masterplan and is the focal point
these elements but have been than 25,000 residents. of access from two key motorways with a light rail station
at the front door of the scheme. The retail has been very
Developers Hines are now working on the town centre
underserved to date” section of this project, having already delivered over five carefully curated to ensure that it has a clear positioning
kilometres of new roads, services and 82 acres of parkland. in the market to complement existing offers while also
The mixed-use scheme is located in the heart of the offering the South Dublin catchment something very
broader Cherrywood masterplan and in Ireland’s wealthiest new, engaging and relevant to their evolving customer
retail catchment area. preferences and lifestyles in what is an affluent and
The 67,000sq m next generation retail town centre aspirational market. FOOD hALL
product will have a forward thinking mix of retail, F&B, “The retail scene in Ireland has been behind the curve
leisure and entertainment uses with a strong emphasis for many years. Cherrywood is a reboot of scale retail in
on convenience, place and community - ensuring that it is Dublin and as such we have opportunities to introduce new
well suited to meet structural retail industry change and concepts, formats and brands to consumers who demand
evolving customer and retailer preferences in Ireland. When these elements but have been underserved to date. We
complete, Cherrywood Town Centre will be the newest anticipate that when we open that the response may well
scale retail scheme in almost 20 years in Dublin. exceed our expectations given the pent-up demand for this
“Having launched our brand and retail scheme in May, we kind of offer,” explains Rossel.
are currently in an intensive phase of anchor leasing, starting The approach to Cherrywood emerged and was
with the first five key deals. Currently the scheme is 20 per strengthened by drawing on experiences, benchmarks
cent let and we are targeting around 50 per cent of the and lessons learnt from across the globe, particularly in
space to be leased by early-to-mid 2020,” explains Derek high growth markets like the Middle East and Asia where
Rossel, Development Director at Hines. innovation and forward thinking are critical to thrive in highly
A key element of Cherrywood is the ‘Streets & Squares’ competitive fast-paced environments.
layout, which centres around delivering a retail led mixed- “We are creating an omni-channel platform that both RESTAURANT STREET
use project that delivers true retail convenience, a strong customers and retailers are demanding for the future. With
sense of place and a community hub that will foster social so much change in retail we are positioned with the right-sized
connections day and night, all working together to create a mixed-use scheme, with ideal transport links and an enviable
South Dublin destination that will draw different people in at underserved catchment area. The combination of these
different times of day for different reasons. factors and our dedication to create the best experience in
“In delivering this we have really focussed intensely on the market will ensure that we have every chance to be a
an individual customer’s journey for different visitation very successful proposition for all stakeholders.”
experiences to ensure that we are walking in the shoes of Rossel concludes the interview by explaining that while
the customer. In doing so we have improved navigation and market challenges will come and go; a quality product that
the pleasure of the shopping experience for customers and understands the future will endure. Hines has taken a long-
the trading experience for retailers,” says Rossel. term view and is committed to Ireland and Cherrywood.
The Cherrywood project will see three new to market www.cherrywoodretail.ie
concepts launch, each of which supports the goal of www.linkedin.com/showcase/cherrywood-town-centre

NOVEMBER 2019 RETAIL & LEISURE INTERNATIONAL 35
ChERRywOOD LIghT RAIL STATION MIXED USES