H&M gets go-ahead for expansion plans in Athlone Towncentre
The retail offering in Athlone's Towncentre is set to expand after Westmeath County Council granted planning permission to Swedish fashion retailer, H&M, to amalgamate two additional units into its current business.
H&M is one of the centre's long-term anchor tenants, and the local planning authority has given the go-ahead for a plan by the company to amalgamate their existing retail unit, no.16 (over two levels), with two other units within the centre to create a single retail store. The two additional units are no 17, on the ground floor level and unit No. 48 on the first floor level, which was previously occupied by Pamela Scott before its relocation with Athlone Towncentre.
As part of the granting of permission, Westmeath County Council has stipulated that written confirmation of any other future occupier of the development must be submitted to the local authority “prior to them occupying the unit.” They have also stipulated that “no change of use” of the units occupied by H&M should take place “other than with the consent” of the planning authority.
The modifications which form part of the proposed development are “entirely internal” and will have no impact on the external town centre façade, and no change in gross floor area is proposed as part of the application covering just over 1,499 square metres.
A planning report prepared by MCG Planning on behalf of Hurley Property ICAV, for and on behalf of its sub-fund, National Property Fund, argued that the proposed development would create increased footfall, retail activity and employment to “currently underutilised and vacant retial and restaurant units” within Athlone Towncentre.
The report also stated that the proposal would increase economic activity in the shopping centre and aid in the strengthening of the “urban regeneration of town centres and supports a vibrant retail sector.”
It also argued that the expansion plans by H&M would “improve the retail competitiveness” of Athlone and its importance as a 'Regional Growth Centre.'
“H&M is one of the few comparison retail businesses actively expanding and opening new stores in Ireland despite the uncertain in-store retail environment post-Covid with online retailing growing exponentially to the detriment of high street stores,” the report added, explaining the rationale behind the project, plans for which were initially lodged with Westmeath County Council on March 20 last.
H&M has over 4,300 stores in 77 different markets, including 14 in Ireland, but like many retail fashion houses, it has struggled to compete with lower-cost rivals in recent times. Despite this, the company is aiming to raise its operating profit margin to 10% this year – up from 6.2% in 2023.