Savills and the Jervis Shopping Centre are delighted to announce a major retail coup for Dublin with the arrival of US fashion giant Forever 21 as the new anchor store in the centre. This will be the first European store for the US retailer which already has 500 stores worldwide and it is one of the biggest retail deals to take place in Ireland over the past three years.

Set to open on the 15th of November 2010, the Forever 21 store will occupy a massive 70,000 sq.ft. unit over the Ground, Upper Ground and First floor levels. Forever 21 will pay an annual rent of €2.75 million.

Forever 21 is a Los Angles based US multinational retailer with 500 stores worldwide. Founded by Korean American Dong-Won Chang in 1984, the chain has been phenomenally successful with annual turnover in excess of $2.3 billion. Specialists in providing high fashion trends at great prices, Forever 21 prides itself on the fast turnaround of catwalk designs to shop floor and is aimed at young female and male fashion fans. This letting marks a huge expansion of the brand into Europe with anchor stores planned in every major city.

“This deal is the culmination of significant and active property management by Jervis Centre’s owners which included negotiating with Arnotts on the surrender of its Arnotts Project 108,000 sq.ft. store in order to facilitate this and other forthcoming deals. These deals not only improve the consumer offer and tenant mix but have added significantly to the overall rent and hence capital value of the scheme” says Darragh Cronin of letting agents Savills.

"Jervis Shopping Centre is delighted to welcome Forever 21 into our already excellent mix of domestic, UK and European retailers. Forever 21’s choice of Ireland and in turn Jervis as its first European store is an excellent vote of confidence for Irish retail and confirms the resiliency of the Irish retail market” added Mr. Cronin.

The Jervis Shopping Centre has been trading for 14 years and continues to attract the premier retailers from Ireland, Europe and the US. The centre extends to approximately 36,000 sq.m. and boasts in excess of 60 retail units and 750 car parking spaces. Jervis Shopping Centre already houses a number of leading fashion retailers including Stradivarius, Bershka, Dorothy Perkins and Schuh.

In the coming weeks, further announcements are to be made about new additions to the tenant mix. For all future opportunities, please contact Savills.

Darragh Cronin of Savills acted on behalf of Jervis Shopping Centre.

James Ebel of Harper Dennis Hobbs acted on behalf of Forever 21