New €800m Ballymun Town Centre Approved
The final piece in Ballymun Regeneration programme gets go-ahead
Friday 19th December 2008. Treasury Holdings, the leading international property company, has today been granted planning permission to develop Spring Cross, Ballymun Town Centre, an €800 million mixed use development in the heart of the Ballymun regeneration area in North Dublin. It is hoped that construction will start in 2009 during which time 2,000 jobs will be generated. It is expected that 8,500 direct and indirect jobs will be created once complete in 2012.
Mr. Niall Kavanagh, Director of Development at Treasury Holdings Ireland said, “We recognise how important the regeneration of Ballymun is to Dublin City and are delighted with today’s announcement as it means we can now move forward with the project. Regeneration projects are key in challenging times like these, for any economy. Ballymun today has existing and growing catchments with shopping, employment and leisure needs that desperately need to be met. A lot of hard work has gone into planning this development and we look forward to delivering the much needed quality shopping, leisure facilities and civic amenities for local residents.”
“This is an attractive development and there has been strong retailer interest, even before we secured planning permission. This is due to the unique nature of the new town which will be home to 40,000 people when complete. There are a number of factors attracting interest including the developments strategic location in the heart of north Dublin, its accessibility to the airport, the Capital and major motorways as well as the metro stop which will be integrated into the development. The presence of IKEA, which will be only a short distance away, is also a prime attractor for many retailers.”
“The design of the development is based on a sustainable open street scheme which is conducive to community living and a positive retail experience. This is the final piece in the Ballymun regeneration programme and it will become the focal point for the local community,” he concluded.
The new town centre will be based on a 5.9 hectare site and will comprise over 60,000 sq.m of retail space, 28,000 sq.m of office space and over 11,000 sq.m of leisure facilities including an 11 screen cinema, bowling alley, family entertainment centre and a child drop in centre.
Complementing 367 residential units will be; state-of-the-art civic amenities, a public library, child friendly amenities, along with car parking spaces and cycle spaces in the new town centre. There will be a new Civic Square at the heart of the scheme which will cater for a host of new restaurants and cafes and a large leisure and cinema complex which will overlook this new public space.
The development is strategically located in the heart of north Dublin and has easy access to the rail network, the airport, Dublin City Centre and the M50, M1 and M2 motorways. It is at the heart of the economic corridor between Dublin Airport and Dublin City Centre, while a Metro stop on the new Metro North line will also be integrated into the development. The station will provide access to the City Centre in 15 minutes and to Dublin Airport in 10 minutes. In addition the town centre will only be a short walk from the only IKEA store in the Republic of Ireland which is expected to attract 2 million visitors per annum.
Treasury Holdings has been a pioneer in the property sector, both in Ireland and internationally, identifying and capitalising on emerging trends across the globe. The company’s portfolio includes state of the art residential, commercial, retail and leisure developments in Ireland, the UK, London, Russia and China. The company has been responsible for landmark developments including the largest urban regeneration in Ireland at Spencer Dock, and the country’s first Ritz-Carlton Hotel in Powerscourt, Co.Wicklow.
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