{"id":315290,"date":"2026-02-24T20:27:13","date_gmt":"2026-02-24T20:27:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/315290\/"},"modified":"2026-02-24T20:27:13","modified_gmt":"2026-02-24T20:27:13","slug":"will-sale-of-stillorgan-village-shopping-centre-resolve-parking-fees-gridlock-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/315290\/","title":{"rendered":"Will sale of Stillorgan Village shopping centre resolve parking fees gridlock? \u2013 The Irish Times"},"content":{"rendered":"

The dispute at Stillorgan Village Shopping Centre between retailers and the centre\u2019s ownership, Kennedy Wilson, rumbles on.<\/p>\n

After the US development giant imposed parking fees <\/a>at Ireland\u2019soldest shopping centre, some tenants threatened to withhold rent due to their footfall dropping by up to 20 per cent, they say.<\/p>\n

The current situation, Cantillon understands, is that no meaningful progress has been made since what seemed like half of Fine Gael<\/a> visited the shopping centre, with its management having curtailed engagement with retailers. <\/p>\n

\"\"Could Simon Harris\u2019s savings scheme for the \u2018middle classes\u2019 prove to be a sound investment?<\/p>\n

However, shortly after the radios went silent, Kennedy Wilson announced it will \u200bbe acquired by a consortium <\/a>led by its chief executive William McMorrow and Fairfax Financial for about $1.5 \u200bbillion (\u20ac1.27 billion).<\/p>\n

The stated goal is to ditch the cost and administrative burden \u2060of being publicly \u2060listed, with the deal expected to close in the second quarter of 2026. McMorrow will remain in operational control.<\/p>\n

The question has been raised whether the sale is causing gridlock on the issue, with managers unwilling to rock a boat whose ownership is in flux.<\/p>\n

[\u00a0Making sense of the parking charge battle at Stillorgan Shopping Centre – CantillonOpens in new window<\/a>\u00a0]<\/p>\n

Anyone thinking that the goings on in Ireland would not be affected by the wider group would do well to consider that Kennedy Wilson\u2019s Irish interests represent a big portion of its holdings.<\/p>\n

As of September 30th last, its investments here stood at $488.6 million with mortgage debt of $215.7 million. Some 20 per cent of Kennedy Wilson\u2019s annual net operating income of $434 million was generated in Ireland, according to third-quarter results.<\/p>\n

What is more, of Kennedy Wilson\u2019s 4.3 million sq ft of commercial properties, more than one million is in Ireland. <\/p>\n

Locals are hoping the sale might be the change needed to resolve the dispute, with local Fine Gael Cllr Eoin O\u2019Driscoll \u201curging the shopping centre\u2019s new owners to prioritise constructively engaging with tenants and the local community and reconsider the imposition of these parking charges\u201d.<\/p>\n

Unfortunately, it seems unlikely that an insurance company, which already owns the third largest number of Kennedy Wilson\u2019s shares (9.66 per cent), will change the company\u2019s trajectory in a significant manner once in the majority position.<\/p>\n","protected":false},"excerpt":{"rendered":"The dispute at Stillorgan Village Shopping Centre between retailers and the centre\u2019s ownership, Kennedy Wilson, rumbles on. After…\n","protected":false},"author":2,"featured_media":315291,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,6572,61,60,83768,83767],"class_list":["post-315290","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-cantillon","tag-ie","tag-ireland","tag-kennedy-wilson","tag-stillorgan"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/315290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=315290"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/315290\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/315291"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=315290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=315290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=315290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}