Re: Re: well what about the developments popping up in the shannonside ?
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Interesting news here, a proposal that would transform the shannon street area, the side of the street where the stella ballroom is located is seriously under utilised and this would tie in very nicely with the bank of scotland development across the street where a number of new retail units have come on the market and the transformation of nearby bedford row, which includes a luxury hotel and 14 shops, glad to see the city centre fighting back, its also good to see local developers willing to put money into the inner city!
A GROUP of Limerick investors are in the process of assembling a number of sites in the city centre with the purpose of creating a new street, similar to Cruises Street.
The Limerick Post can reveal that the investors are locked in negotiations with the owners of the Stella Ballroom in Lower Shannon Street and the proprietors of other nearby properties, with a view to providing a state-of-the-art shopping mall leading onto Bedford Row.
It is understood that plans will shortly be submitted to Limerick City Council.
The proposed development will sit alongside the Savoy project, currently under way.
One member of the consortium confirmed that talks were well advanced.
Their plan, he said, was to transform Stella Lane into a shopping precinct, which would necessitate the demolition of The Stella, a Limerick landmark building.
“Ideally, if we get the green light, we would like to attract high profile retailers maybe even Marks and Spencer Food Only, which are so popular in the United Kingdom and also in some of Irelandâ€™s larger townsâ€.
The present Stella premises, which is used for bingo, almost backs onto Bedford Row.
One city-based auctioneer said he was aware of plans for the redevelopment of The Stella and other adjoining properties.
“There is still some work to be done in putting the pieces together. From what I know, the intention is to model the proposed new street along similar lines to Cruises Street, and we all know how successful that has been. With Bedford Row about to have a face change, and a new hotel on the site of the former Savoy Cinema, the opportunity is now there to complete what is a very exciting packageâ€.
The Limerick Co-ordination Office said the proposed development of the Stella Ballroom into a pedestrianised street mall would be an added boost to the major regeneration of the city centre that is currently underway.
“It would enhance the second phase of the extensive pedestrianisation programme that is now focusing on Bedford Row and make city centre shopping a more positive experience,â€ Limerick city co-ordinator Andrew Mawhinney said.
But Mr Mawhinney added that it would be important to get the right balance in the retail mix.
“A quality anchor tenant would be essential and it must also be a living street that has a good combination of cafes and retail,â€ he said.
Cruises Street, now into its 14th year of trading, was built on the site of the former Cruises Hotel and also involved the purchase of buildings to the rear of the premises.