Re: Re: well what about the developments popping up in the shannonside ?

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Opera Shopping Centre Update

Limerick shops around (Irish Independent.)

By Con Power Wednesday May 14 2008

LIMERICK’s city centre retail space looks set for further expansion with the latest news from its new Opera Centre shopping complex, as well as the Thomas Street centre.

The Opera Centre is set to be significantly increased. Originally envisaged as costing around €250m, a revamped blueprint has now been rolled out, boosting the value of the project to an estimated €350m by scaling up some of the key elements.

A reconfigured scheme has been drawn up by promoter Regeneration Developments. This increases the scale of the ambitious project to around 38,000sqm, compared with the original 28,000sqm plan.

The new design, by Douglas Wallace Architects, follows the acquisition by the developer of city centre buildings, including the old town hall.

The additional buildings will be used to provide an improved streetscape onto Patrick Street and Ellen Street. An additional 500 basement car spaces will now be provided.

The two retail anchors have been increased to around 16,000sqm combined — one of which will be directly accessed via the new basement car park. There have been unconfirmed reports that Marks & Spencer is considering occupying one of these anchors.

The promoters expect to start on-site construction by the autumn and the project is expected to take between 18 months and two years to complete.

The proposed development is expected to provide a welcome jobs boost, with forecasts for the original plan predicting that 1,200 jobs will be generated

“This is the one of the most exciting city centre regeneration schemes to be proposed and puts Limerick city centre back where it belongs amongst the top retail shopping centres in the country,” commented Robert Bloomer of agent Savills Hamilton Osborne King.

The agents report “excellent” demand already from regional, national and international retail operators who are keen to gain representation in — or, in some cases, re-enter — the city centre.

Meanwhile, other news from Limerick is that the Thomas Street Centre development is now under construction in the heart of the city’s shopping/ business precinct.

This complex is due for completion in September and will provide six new retail units.
Joint agents O’Connor Murphy Gubbins and Rooney Auctioneers are quoting rents of between €753-€968 per sqm for ground floor space, €108 pe sqm for the basement and €215 per sqm for the first floor.

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