A key element in a €700 million commercial and residential development in a Co Cork town, which it is hoped will retain over €70 million in retail business in the local community, was officially opened yesterday.
O'Flynn Construction built the €150 million town centre and shopping complex in Ballincollig as part of a major residential and retail development of some 90 acres of the former Murphy Barracks site on the northern side of the satellite town.
The development will mean that Ballincollig will now develop northwards towards the River Lee. The town had historically developed south of the main road to Macroom as the area to the north was occupied by the barracks.
Michael O'Flynn, of O'Flynn Construction, said the 90-acre development will make Ballincollig a strategic town as the new town centre also includes a 12,000sq m (129,000sq ft) office campus, 800 residential units and a hotel, as well as the 16,500sq m (177,605sq ft) shopping centre.
He also pointed out that the 35- unit Ballincollig Shopping Centre, which includes Dunnes Stores, Easons and Dixons among its tenants, will provide an extensive choice of shopping for the people of Ballincollig and surrounding areas.
According to Mr O'Flynn, 20,000 people now live in Ballincollig, but the Cork Area Strategic Plan predicts this will rise to 30,000 by 2020. About 65,000 people currently live within a 10-minute drive and a further 66,500 people live within a 20-minute drive of the town.
Mr O'Flynn said existing retailers in Ballincollig have welcomed the development as they will benefit from the increased numbers of shoppers visiting the town and stop the retail leakage from the area.
"Almost 30,000 people in this catchment area spend €47 million on clothes, durable household goods, etc but only €4 million of that is spent in Ballincollig - over 90 per cent of it is lost to the area," said Mr O'Flynn.
"Similarly, €50 million is spent on convenience goods such as food, beverages and other non-durable goods, but only €20 million of that is spent in Ballincollig, so some 63 per cent of that is lost to the area - this development will cut down on that loss," he added.