ShoppingCentres: Dunnes Stores is to anchor a new district shopping centre as part of a mixed-use commercial scheme next to Leopardstown Race Course in Dublin 18.
The announcement of the €100 million shopping complex will come as a surprise to many, including local residents who are unaware that a new shopping facility is in the pipeline.
Dunnes' decision to trade out of the centre off Ballyogan Road when it opens next October will also prove intriguing for the retail industry given that the company already operates a mega- store about three miles away at Cornelscourt.
Dunnes has been aggressively expanding its operations throughout the country, sometimes choosing to open new stores to keep Tesco out. Dunnes' vastly improved range of goods has allowed the company to build on its enormous success in recent years.
The company is thought to have paid around €10 million for the anchor store of 5,400sq m (58,125sq ft) at the proposed Leopardstown shopping centre which is to be built by Michael Cotter's equally successful company, Park Developments.
There will also be 11 further retail units varying from 100-400sq m (1,076-4,305sq ft), bringing the overall trading area up to 10,200sq m (109,792sq ft).
The shopping centre will be in the heartland of middle class Dublin being close to Stillorgan, Blackrock, Foxrock and Sandyford.
Mr Cotter said the existing population was undersupplied in terms of shopping and, with a high level of new homes due to be completed over the coming years, he had no doubt that it would be a great commercial success.
Hamilton Osborne King said that, with Dunnes Stores on board, they expected that there would be "huge demand" for the remaining 11 shops which would be available at €645 per sq m (€60 per sq ft).
An Bord Pleanála has also granted planning permission for an own-door office scheme, two large office blocks, a crèche and leisure facility.
The new retail complex will obviously benefit from the proposed extension to the Sandyford Luas line with a stop scheduled closeby.
Park is already enjoying considerable success with The Park, south Dublin's largest retail warehousing park off the M50 at Carrickmines.
