Print

£800 million investment for Fingal, North Dublin

Catherine Deshayes

Dublin's Swords Pavilions shopping centre in Fingal is set to receive an £800 million cash injection from Ireland's Chartered Land, as they apply for planning permission for a major expansion.

The plans comprise two anchor department stores, more than 100 smaller units, 200 residential flats and four office blocks with car parking.

It will also include more than 40 restaurants and a medical centre, crèches, community rooms and a day-care centre. It said the plans reflected Fingal County Council's overall masterplan for Swords.

The company, headed by Joe O'Reilly, lodged the application with Fingal County Council and said the proposed expansion would create up to 3,000 jobs during construction.

Chartered Land said Marks & Spencer and House of Fraser have confirmed heads of terms to open at the Swords Pavilions extension. The extension, designed by Architects Newenham Mulligan & Associates and O'Mahony Pike, is expected to be completed by 2013.

Chief Executive at Chartered Land, Dominic Deeny, said, "We have been particularly conscious of ensuring that our plans for Swords Pavilions are totally in keeping with and supportive of the evolving plans that Fingal County Council has for Swords.

"We are keenly aware of the needs of this part of North County Dublin which is set to continue its population growth well into the future.

"While our expansion plans could well stand alone on their own merits, they will be all the stronger in the context of the many developments envisaged within the masterplan," added Mr Deeny.

Swords Shopping Centre, which O'Reilly bought for more than £400 million in 2006 in Ireland's biggest single property investment deal ever, attracts more than 200,000 visitors a week.

In April this year O'Reilly's Chartered Land also submitted plans for ‘Dublin Central,' a 1.7 million square foot mixed-use development on Dublin's famous O'Connell Street.

Dublin Central will be a £1 billion development with 108 flats, a rooftop restaurant quarter with 17 restaurants and 109 shops including a flagship department store on a 5.5 acre site on the north side of the River Liffey.

To browse properties for sale in Ireland, visit www.themovechannel.com/property/ireland/