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Ballymun Town Centre Gets Go-ahead
Real Estate Opportunities (REO) has secured full planning permission for the €800m regeneration of Ballymun Town Centre in north Dublin. At 255,000 square metres, Spring Cross, as the new development will be known, is reputed to be the largest mixed-use town centre permission that has ever been granted in Ireland. The scheme includes 360 apartments, 60,000 square metres of retail, 35,000 square metres of offices and 11,000 square metres of other uses, including an 11 screen cinema, bowling alley, public library, creche and restaurants. REO, which is 67% owned by Treasury Holdings, expect that about 2,000 jobs will be generated during the construction phase which will get underway in 12 months' time if the company can pre-let the facility and secure funding for the building costs. Treasury hopes that Tesco, which has an ageing supermarket in the area, will agree to be an anchor tenant in the new facility. The development is expected to cost up to €400m to construct and that will be done in nine or 10 phases with the shopping centre and leisure blocks development first. |
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