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

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


@Dan Sullivan wrote:

There is a rumour that is trying to do the rounds that the Parkway Valley project is stalling as the developer couldn’t confirm an anchor tenant and the banks were some what unsettled by this.

It’s on the Limerick Blogger but it could just be a wind up what with so many off for the builders holidays.

Drove past the site today, seemed to be a limited amount of work going on, maybe 2 cranes in operation although it could of course be down to the builders holidays. Even if the project is going ahead, it may well struggle to pull in “big name” tenants especially if the decidedly second rate anchors are anything to go by.

Its not so long ago that the developers were promising ” 2 high profile international retailers” to anchor the centre, I dont think things have gone entirely to plan!:rolleyes:

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Parkway Valley Development going ahead

Nick Rabbitts

One of the companies behind the new multimillion Euro Parkway Valley shopping centre on the Dublin Road has issued an emphatic denial that construction has halted on the site.

At the moment, just 60 builders are working on the Dublin Road site but Darren Peavoy, associate director at property consultants Bannon, told the Limerick Leader that a full quota of construction workers will return to the site “in the next few weeks.”

Asked whether there was any truth in speculation that a bank was withholding its support until it received confirmation of the anchor tenants, Mr Peavoy stressed: “As far as we are concerned, there is no truth in this.”

The scheme which will bring extra retail to the Dublin Road area is, alongside Bannon being managed by Dunloe Ewart with construction by Danningers and Grifdon Structures.

The facility, which was granted permission in 2005, promises “iconic surroundings” and “dynamic shopping” with more than 47,000 square metres of retail space. It was expected to draw shoppers from a wide catchment area in Limerick City and County as well as neighbouring towns and villages in Tipperary.

Mr Peavoy also confirmed the two anchor tenants on the site are clothes chain Penneys and giant food retailer Tesco Ireland, and added: “We would be hoping to make an official announcement very soon but these things take time.”

Meanwhile, Maria Kelly, CEO of Limerick Chamber of Commerce criticized rumours on the sites future which have appeared in a local website. “I have been listening to rumours and speculation about various businesses since the start of the year, and a lot of them are unfounded. It’s a frenzy and its having an effect on consumer confidence, which is a key factor in bringing down an economy,” she said.

A spokesman for Tesco Ireland said “they would not comment on speculation.” Neither Penneys nor Dunloe Ewart were available for comment.

One of the conditions on which the Parkway Valley project was granted permission was the widening of Childers Road. The site is expected to welcome its first customers within the next year.

© Limerick Leader

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