The Georges Street Arcade is Irelands first shopping Centre and longest continuously trading Shopping Centre, trading since 1892.
Its owners The Layden Family, have for first time since 1892, temporarily closed the centre, and are forgoing ALL RENTS from all 42 businesses.
In a statement from Gwen Layden, Landlord of Georges Street Arcade and Director Layden Group, she said:
“The Safety of our Traders informed us to close, and their peace of mind informed us to suspend Rent. We have most of the same shops and stalls with us for the 28 years we have owned the centre. In 2008 we reduced rent early and thankfully kept all our Traders .
We hope all 42, can go home, keep well, and that we will keep the centre ready for all on return when it is safe to do so , following Government and HSE guidelines. Gwen Layden is my name and all 42 traders I visit weekly. This is a Family Business, my father Joe Layden started in 1978, almost 50 yrs ago.
Our motivation is the sustaining of people and their businesses. The regard and respect I have for every one of the traders who I visit weekly is huge. Retailers and food and drink units , small /medium sized take risks, are so brave and resilient, work so hard and deserve support.
In my view – we are to share, and Landlords everywhere might have to get a little poorer, so that we can all have a more peaceful time now. You could never sleep well , if you thought you were not doing something to help another sleep well. Commercially, also this policy works very well. We have a full Arcade always. We collect rents, which are fair, always, and we enjoy our relationships with our tenants, always. Landlords, by virtue of owning the property, have something to give. To give til it hurts, is not a bad thing. There are other things free, nature and health ….clear conscience.”
Joe Layden bought the centre in 1992 , when Ireland was in recession. Joe and his daughter Gwen, set about creating a place for people to set up and sustain businesses. The protection of the Architectural Integrity of the Building is something they have cared much to do.