Re: Ballincollig Town Centre
:rolleyes: O’Flynn Construction’s 7 year, 500m euro Ballincollig Town Centre development in the western suburbs of Cork city is seeing its firts 28 houses come on the market, with Sherry Fitzgerald handling enquiries. The houses on sale, part of the Old Quarter element, start at 355,000 euro for a 3 bedroom semi-detached. They will be the first batch of ultimately 791 units in all.
Nearby at the Murphy’s Barracks Square, as part of the BTC development, over 120,000sq ft of office space is due to get under construction in the next few months.
However, its news on the Ballincollig Town Centre Shopping Centre that people seem anxious about. The BTC SC will be 44,000sq m in gross space – internal space will be only 17,875sq m – with 3 anchor tenants and 35 smaller retail units. O’Flynn Construction have informed me they have a quality line-up under final negotiation – and according to Colliers Jackson-Stops and HOK, the units have attracted a lot of interest. In an early post I deducted that a possible tenant could be Marks & Spencers (although a certain Cork tabloid quoted me as saying [non-acknowledgedly] that it was a dead cert) – who had been actively pursuing an additional Cork city store – but due to financial troubles back home, had had their hands tied, and were unable to locate at Mahon Point – ultimately, Tesco stepped into that position. It seemed BTC was an ideal location – Dunnes Stores had 2 stores nearby at Bishopstown Court and Bishopstown SC (both which were undergoing expansion) – it would seem a poor strategic move to locate at BTC given the proximity of the other 2 stores. SuperValu already had 2 stores in Ballincollig. Superquinn had been quoted as saying it was enticing but not part of the strategic growth plan. Tesco were already investing heavily in Wilton and Mahon Point (Tesco bought Wilton SC for 80m euros from a trust fund and spent a further 12m renovating and extending it). So, with all the major players to one side, M&S seemed the ideal choice – given their history and earlier intentions. However, I am informed that Dunnes Stores have made a serious bid proposal to anchor the grocery element (and possible clothing anchor) at BTC. O’Flynn have told me that they are at least 1 of 3 bidders – but the favourite. I am aware of the other 2, but I’m not sure of the extent of their bids and negotiations. In a city saturated by Dunnes Stores already (who are reviewing expansion plans for their Patrick’s Street original store) – do we really need another one? A little choice would be nice. In Cork it’s either Tesco, Dunnes or SuperValu – M&S to a lesser extent. I, personally, would like to see a little variation. I’ll let you know further details soon.
Apologises, but I have been advised to remove the BTC tenant list until a more appropriate time later this year, or earlier next year.
The BTC SC is due to open October 2005.