The regeneration of the River Liffey as a leisure amenity will receive a big boost with this week's opening of two new waterside restaurants at Custom House Quay in the International Financial Services Centre (IFSC).
Gloria Jean's Coffee and D.One Restaurant will be the tenants at The Campshire CafΘs, but such was the demand from the restaurant trade to set up business in this unique location that rents proffered by the successful applicants are considered extremely high for one of the city's new areas. The £60 (€76) per sq ft rent will be double what Milano restaurant is due to pay for a new unit it is shortly to fit out in the same area at Clarion Quay.
Developed by the Dublin Docklands Development Authority (DDDA), The Campshire CafΘs are located directly opposite the new Clarion Hotel, which opened in May of this year, and are housed in two very striking modern glass buildings.
The £1.5 million (€1.9 m) development is likely to be one of the architectural showpieces of the DDDA's leisure and recreational amenities in the area. The campshire, or public space area, running along the River Liffey in front of the IFSC, is still being redeveloped at a cost of over £2 million (€2.5m).
Gloria Jean's Coffee, which will occupy the smaller of the two units, regard this new location as an exciting new opportunity for the chain. The cafΘ and coffee-bean sellers will pay an annual rent in the region of £55,000 (€69,835) for the 970 sq ft premises. D.One Restaurant, a new silver service eatery serving a European -style menu, will occupy the larger 1,450 sq ft unit. The annual rent for this premises will be in the region of £87,000 (€110,467). The DDDA has signed short-term leases of just under five years in both businesses, according to Peter Coyne, chief executive of the authority.
D.One is a first-time venture run by chefs Chris Bailey and Sean Mooney, formerly of Munkberrys Restaurant in Dalkey and Tulfarris House in Blessington. The restaurant will cater for 70 covers and will open for lunch and dinner.
The DDDA advertised the premises and then selected the operators based on a number of criteria. Surprisingly, the rent offered was the main factor in the choice of tenants. The authority also sought tenants who would contribute to the atmosphere of the area by opening early and closing late seven days a week. The huge demand for the premises is reflected in the rent attained for The Campshire CafΘs according to Coyne, who added that "this is an indication of the confidence in the area".
The IFSC/Docklands area has a daily population of about 15,000, which includes 11,000 office workers. While most large companies have restaurant or canteen facilities, the lack of places to eat and drink in the area, and the delay in providing them, has come in for much criticism over the years.
Gloria Jean's Coffees, a US chain similar to Starbucks, has two established outlets in Dublin, one in the Powerscourt Townhouse Centre off Grafton Street and a second next to Superquinn in Lucan. There are a further two franchise operations in Cork City.
Adrian Keaveney operates the franchise for Ireland. The new Gloria Jean's cafΘ, which is currently being fitted out, will depart from tradition and will also offer beer and wine in a bid to attract evening customers. It is doubtful that a premises selling just coffee and snacks would have a sufficient turnover to cover the financial overheads incurred by the high rent. Gloria Jean's Coffees intends to maintain its current prices at the new outlet.
Milano, the pizza chain with three restaurants in Dublin, will open a fourth premises at Clarion Quay before Christmas. This new 180-seater restaurant is expected to do great trade. Rent for this 6,000 sq ft premises will be £180,000 (€228,552) a year - £30 (€38) per sq ft.
A major new leisure and retail development in the pipeline for the last few years is finally to get underway in the 19th century Stack A warehouse, which is the last remaining element of the original IFSC development. This has been a key objective for the authority, and designs are now finalised and have been put out to tender. The 100,000 sq ft building will be transformed into a mix of a museum, leisure and shopping facilities and will be operational by mid-2003.
"The redevelopment of Stack A will make a radical difference to the IFSC. The initial phase of work, which begins in the late summer, will see the comprehensive refurbishment of the building, including the formation of a new glass elevation to the Custom House Quay. It will accommodate high quality retail, leisure and cultural activities. We will shortly be seeking occupiers for the space within Stack A and already we have received strong market interest," said Mr Lar Bradshaw, the chairman of Dublin Docklands Development Authority, at the launch of the 2000 Annual Report earlier this year.
