Plans have been submitted by investment fund Kennedy Wilson for a revamp of the State's oldest shopping mall, the Stillorgan Village Shopping Centre in south Dublin.

A new glass roof and facade is planned for the 50-store centre, which was owned by Johnny Ronan's Treasury Holdings before the property crash.

The overhaul also proposes the construction of a new, large restaurant on top of the existing Donnybrook Fair food store, as well as the extension of the retailer by knocking through the wall to an adjoining outlet.

Redesign

It is understood, however, that talks have not yet been held between the landlord and Donnybrook Fair over the detail of the plan.

Kennedy Wilson also proposes to extend the existing off-licence in the shopping centre, and plans to add 443sq m of floorspace.

The developer also plans to redesign the car parks and shift the entrance and exits. Much of the internal layout of the centre will be retained, however.

Kennedy Wilson said it wants to keep a “community atmosphere” at the centre.

The investor submitted its plans this week to Dún Laoghaire-Rathdown County Council for its overhaul of the centre, which will be 50 years old in 2016.

The opening of the State’s first mall in 1966 was a national event at the time.

RTÉ broadcast its high-profile opening ceremony featuring the entertainer Dickie Rock, while local schoolchildren even got the day off to attend.

Post-crash portfolio

Kennedy Wilson, which bought the centre as part of a €306 million portfolio of Treasury’s loans in 2013, was one of the biggest buyers of Irish commercial property in the aftermath of the crash.

It snapped up several high-profile Dublin buildings, including the headquarters of KPMG off Harcourt Street and Bank of Ireland's headquarters on Mespil Road.