DevelopmentPlans: Treasury Holdings has launched a new retail division to "enhance and develop" properties in Ireland and abroad with a projected end value of €2.4 billion.
Treasury Retail, launched at this week's European retail fair, MAPIC, in Cannes, will provide a broad range of services for the various retail projects ranging from design to management, legal, research and marketing.
The new division will operate under the direction of Robert Tincknell, group deputy managing director, who has a wealth of experience in the retail and mixed-use development sector. He was most recently involved in Treasury's expansion into China where it is planning a €1.2 billion mixed-use development on a large site in Shanghai.
He said yesterday that, as the retail and leisure property market continues to grow, Treasury Retail would ensure they could continually enhance and actively manage their portfolio to "maintain the highest standards to attract and keep the best in retail on a national and global scale".
Treasury Holdings has an interesting portfolio of retail and mixed-use developments in the pipeline, including the planned 50,000sq m (538,195sq ft) retail and leisure town centre in Ballymun and the proposed 700,000sq m (7.5 million sq ft) of space at Dublin's Spencer Dock which will have a mixture of offices, residential, retail and leisure facilities. Elsewhere in Dublin, 15,000sq m (161,458sq ft) of leisure and retail space will be developed on the Allegro site in Sandyford; planning permission is still awaited to expand Stillorgan Shopping Centre to provide over 18,000sq m (193,750sq ft) of shopping space.
On the opposite side of the city, Treasury is to build Ireland's first dedicated motorway service area which will have 12,000sq m (129,167sq ft) of retail and leisure space at the M1 Business Park in Balbriggan.
Treasury says that, after an intensive community consultation and planning exercise, the proposed Clondalkin town centre "is also evolving into a comprehensive mixed-use development offering 110,000sq m (1.184 million sq ft) of retail, leisure, commercial and residential space".
Outside of Dublin, Treasury's ambitious scheme for Sligo town centre includes a 20-storey residential tower, a 15,000sq m (161,458sq ft) open air retail plaza, 150 residential units and three major anchor stores. The company's land holdings at Nazarath in Sligo has also been targeted for 20,000sq m (215,278sq ft) of retail space, including a department store anchor, 200 apartments, an 80-suite hotel, a 10,000sq m (107,639sq ft) private medical facility and a leisure centre with outdoor attractions.
Treasury's most recent acquisition was a 16-hectare site in Leixlip, Co Kildare, where it is proposed to develop Collinstown town centre with 150,000sq m (1.614 million sq ft) of retail, office and residential space.
