Food And Beverage Still On The Menu For Dublin Retail Sector
Despite a surge in the number and variety of dining options in Dublin in recent years, the market continues to see strong demand for space from a range of food and beverage operators.
Dublin has largely managed to avoid the problems that have hit the U.K. casual dining space over the last year or so. In March, chartered accountancy UHY Hacker Young reported that total pre-tax profits at the U.K.'s top 100 restaurant groups had fallen by 64% over the previous year, from £345M to £125M. Meanwhile, several high-profile chains — Byron, Prezzo and Jamie's Italian among them — have undertaken company voluntary arrangements this year.
Over-expansion and increased costs for restaurants were cited by UHY as key drivers behind the fall in profitability.
Savills Director Retail Darragh Cronin puts the U.K. experience down to saturation in the market. “A lot of these food groups were…
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