The centre-piece of the Ballymun regeneration scheme is the project's Business and Technology Park. When complete, the park will offer at least 1.6 million sq ft of accommodation, and perhaps up to two million sq ft.

The 105-acre development site sits at the northern edge of Ballymun, with a long frontage to the M50 motorway. Provision has been made for office and commercial accommodation but the package includes a large focal point hotel, conference and leisure components and substantial "park-and-ride facilities" which will link to the proposed LUAS line when it arrives.

Lisney has been appointed as property and economics advisers to the Ballymun regeneration project, including the Ballymun Business and Technology Park. The estimated built value of the park when complete should easily reach £1,000 million, stated the Lisney's divisional director for property management, Niall O'Higgins.

The park development, and indeed all of the development at Ballymun, is being overseen by Ballymun Regeneration Limited (BRL), a company established by Dublin Corporation for this purpose, As the main landholder in the catchment the corporation, via BRL, will retain a shareholding in any development that takes place, with partnerships being established between BRL and the private sector.

BRL has already invited developers interested in participating in the Ballymun Business and Technology Park to put together proposals and these are due by November 30th next. An unusual feature of the tendering procedure will be its land-swop dimension. Interested parties with suitable properties are being asked to trade lands within 5km of Ballymun for a share in the business park. The trade-off has become necessary because the lands proposed for the park are currently zoned for playing fields and open space. BRL must find alternative open space and lands for playing pitches in order to develop the park. Developers looking for a piece of the action at Ballymun can buy into the scheme by offering lands. The value of these parcels can then be weighed against the estimated value of the BRL business park site, says Mr O'Higgins, with the shareholding split between developer and BRL on the basis of these two figures.

This should lead to interesting negotiations as the tenders for development start to roll in. BRL's view is that it wants partnerships but it is not itself into making money, as its own profits will be ploughed back into civic amenities for Ballymun. Obvious contenders might include Bovale, which owns a large parcel of land adjacent to the business park site along the M50, and which BRL would like to see developed along lines similar to its own park. Woodford controls the extensive Santry Demesne, which slices a quarter off Ballymun's natural hinterland. There are also lands nearby, just to the north of the business park site on the other side of the M50.

The only restrictions however relate to the availability of lands within a 5km radius from Ballymun. "We have had expressions of interest from places we wouldn't have expected," says Mr O'Higgins. "It is certainly going to be a competitive undertaking."

Nor will the successful developer have to wait for things to happen. BRL is ready to go immediately and part of the attraction is being able to complete development by 2002 and so benefit from the generous 100 per cent capital allowances and tax incentives that will apply until that date.

Work must be substantially completed by then to make it under the wire, something that should suit developers but also BRL, which wants to see the place up and running and jobs being created.

And while it has decided in very general terms what is likely to be built on the extensive site, it is not going to lay down the law for any developer. "It is very important for (BRL) to have a strong input into it. The question of control is important to them," says Mr O'Higgins.

YET, developers will be free to build on the site to their own plans. "The design and the mix of the business park is really for the developing partner." Selection of a developing partner will be based on just a few but very important considerations, says Mr O'Higgins.

Does the developer have land to trade? Is the company willing to be a joint partner? Is the company substantial enough to handle the project it is proposing? And finally, who will be doing the design? BRL only wants to indicate what should be included in the mix, for example leisure facilities or a creche. "We didn't want to say to people, the building must be X size. The added information is what is important for BRL to meet its master plan aspirations," says Mr O'Higgins. The business park is a key element of BRL's overall plans. "The object is the regeneration of Ballymun in its broad sense." A retail park had been considered for the site but this would have added yet another super-sized mall to those already sitting on the M50. Instead, BRL wants to attract technological employers, for example IT companies, tele-centres, backroom financial service offices and specialisations, such as sound recording.

The organisers expect that at least 20 per cent of staff working in the park will be drawn from Ballymun itself.

"The main idea here is to create employment locally," says Mr O'Higgins. The business park would be expected to provide economic stability for the community through jobs, which would in turn encourage local service industries.

"The idea is to make Ballymun a working neighbourhood."