well what about the developments popping up in the shannonside ?

Re: well what about the developments popping up in the shann

Postby Griff » Fri Sep 09, 2011 2:03 pm

hmmmmmmm I wonder now...
http://www.limerickpost.ie/index.php?op ... &Itemid=60

Parkway Valley SC set to proceed
by John O'Shaughnessy
Wednesday, 07 September 2011 15:35
INDIAN-born investor Suneil Sharma, who put the ill-fated Opera Centre package together, has now diverted his attention to the abandoned Parkway Valley Shopping centre, having completed negotiations with National Irish Bank to purchase the site. It has also emerged that Mr Sharma parted with €30 million in acquiring the adjoining retail park, a major success since it opened about eight years ago.

According to an Irish Times report, NIB, owned by Danske, the Danish banking group, had exposure of €100 million on the 15-acre site.

The retail park, home to TK Maxx, Currys, Homebase and PC World, and others, produces annual income of around €3million.
Shortly after he assembled the site for the Opera Centre, he sold on his interests to a Dublin-based consortium, headed by developer Gerry O'Reilly.
In fact, the Belfast-based Mr Sharma has developed a 'love' affair with Limerick in that the Childers Road Retail Park, where the site was purchased from City Council, was also his brainchild.
He later sold to a Dublin based property group.
The Parkway Valley project was abandoned in 2008 when the Zoe Group, owned by developer Liam Carroll, went into liquidation.
According to reports, Mr Sharma will control 100 per cent of the equity, with the development expected to cost around €60m to complete.
A few hurdles will have to be overcome before work can proceed on the Dublin Road site; the County Council, for example, will have to grant an extension of the planning permission as the original consent has run out.
Also, city centre traders are unlikely to take too kindly to any development there.
Patrick Street businessman Tony Connolly, recently told the Limerick Post that full concentration should be on developing the Opera Centre rather than the Parkway Valley, helping to bring life back into the city centre.
It is suggested that the owners of the Crescent SC, which has one of the highest footfalls in the country, are monitoring developments at the Parkway Valley project with a view to a possible involvement.
They had lined up Marks & Spencer for the Crescent two years ago, as exclusively reported in the Limerick Post, and were disappointed when planning permission for an extension was refused.
The original plan for the Parkway Valley was for almost 40,000 sq m to accommodate 50 shop units, three anchor tenants and 1,650 parking spaces.
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Re: well what about the developments popping up in the shann

Postby Griff » Fri Sep 09, 2011 2:07 pm

Meanwhile back in town....
http://www.limerickpost.ie/index.php/na ... ject-.html

M&S key link to city centre project
by Limerick Post exclusive by Marie Hobbins
Thursday, 01 September 2011 09:30
Council to seek expressions of interest in large tract of land

EXPRESSIONS of interest in a prime city centre site are to be sought by City Council, which could result in the long awaited arrival of Marks & Spencer.
It is understood that M&S are part of current negotiations, as are the Roche Group, which has leased its former Roches Stores premises to Debenhams.

The area involved includes Sarsfield Street, lower O’Connell Street and Liddy Street, as well as the vacated Dunnes Stores site and a section of Arthur’s Quay Park.
An impeccable source has confirmed to the Limerick Post that although the council will officially advertise for expressions of interest, “there really is only one gig in town, and that is the developer, Michael Tiernan.”
It has also been confirmed that a prominent Limerick city business woman is involved.
Some years ago, the Limerick Post exclusively revealed Mr Tiernan’s plan to demolish the aforementioned city centre block.
The proposed development, put on hold when the Opera Centre was approved, is now, according to reliable sources, “ready to roll.”
Marks and Spencer are being sought as anchor tenant, and serious talks are taking place.
“The area is ripe for development and there is no impediment to the title, if approval is given by the Department of the Marine,” the Limerick Post was told
Shortly before going to press, this newspaper was informed that Mr Tiernan, brother-in-law of accountant Gerry Boland, closely associated with JP McManus, is also keen to purchase the Opera Centre, which would be a welcome development for the council.
Another source told the Limerick Post: “Mr Tiernan, who developed the Arthur’s Quay Shopping Centre, would ideally like to attract M&S to the city.
“Such a move would gain the goodwill of the council, which would have reservations about any possible entry of M&S into Arthur’s Quay Park, a proposal which had been put on the table”.
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Location: Limerick

Re: well what about the developments popping up in the shann

Postby daire english » Fri Sep 09, 2011 7:31 pm

That m&s project seems optimistic more than anything but such a development is sorely needed:(
daire english
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Re: well what about the developments popping up in the shann

Postby Griff » Mon Sep 12, 2011 3:25 pm

Not to be promoting m&s or anything but it's one shop that would def help increase footfall in the city....
and they do have a great deal in buy one pair of jocks get one at half price !!!

Delighted to see this building get some TLC.. more info here..

http://www.limerickpost.ie/index.php/na ... ation.html
29082011604 by Gryff123, on Flickr
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