House of Fraser is to open its third Irish store at The Pavilions shopping centre in Swords, Co Dublin. The UK department store multiple also trades in Dundrum Town Centre and next March it will become one of the anchor tenants in the new Victoria Square shopping centre in Belfast.
House of Fraser has reserved 11,612 sq m (125,000 sq ft) in the third phase of The Pavilions which is due to be completed by 2012.
Joe O'Reilly of Landmark Developments, who bought The Pavilions two years ago for €575 million, agreed rental terms with the chief executive of the London store, John King, at the annual conference of the British Council of Shopping Centres in Newcastle.
Mr King, a native of Co Laois, refused to disclose the rental terms but said the "deal would ensure that it works for both partners". He said they would also consider opening a third but smaller store in Dublin city centre, possibly in the new shopping enclave linking O'Connell Street with Moore Street which is also to be developed by Mr O'Reilly.
Mr King said House of Fraser planned to spend significant funds on improving its Dundrum store before bringing in new brand names with a strong appeal. Another of Mr O'Reilly's companies, Castlethorn Developments, owns the town centre.
Marks & Spencer will be the second anchor store in the next phase of The Pavilions where it will have its largest Irish outlet of 12,077 sq m (130,000 sq ft).
A planning application is to be lodged early next year for an extension of 55,740 sq m (600,000 sq ft), bringing retail space in The Pavilions to more than 92,903 sq m (1 million sq ft). The other shareholders in The Pavilions are the Irish Pension Unit Trust and Irish Life which paid €240 million for a joint stake.
