Giant multiple C&A will be the third anchor store at the Pavilions Shopping Store in Swords, north Dublin, when it opens in October.
The two other main traders, Dunnes Stores and Superquinn, will own their premises, while C&A will rent 24,500 sq ft on the upper level fashion mall. The first year's rent is likely to be in excess of £250,000 per annum.
The company has one other Irish store at Liffey Valley Shopping Centre in west Dublin. C&A's decision to pitch for Swords will greatly strengthen the line-up of tenants going into the centre, which will have 250,000 sq ft of retail space.
About 14 of the 20 fashion shops planned for the centre have already been committed to Irish and international traders, according to Larry Brennan of letting agents Hamilton Osborne King. Although the Irish traders have not been identified, they are likely to include Pamela Scott, Sasha and A Wear.
There has also been strong interest in 25 other shops in the centre which are being let at £35 to £40 per sq ft.
Dunnes is understood to be paying about £15 million for 80,000 sq ft on two levels. The ground floor will be used as a supermarket, while the upper floor will trade as a department store. Superquinn, which has been operating a supermarket in Swords for many years, is relocating to the centre, where it will trade out of a 40,000 sq ft premises which will cost them around £7 million before fit-out commences.
The Pavilions is being pre-funded by Eircom Super-annuation Fund. The investment is likely to be between £50 million and £60 million, though the precise amount will be determined by the rent roll. Zone A rents are expected to be around £110 per sq ft, compared with £140 at Blanchardstown Town Centre.
Leading property company Flynn and O'Flaherty is handling the development of the centre, which will have a multi-storey car-park for 1,600 cars. The design provides for a new system of pedestrian walks linking the town centre with a civic square.
The only other major shopping complex planned to get under way in the Dublin this year will be at Dundrum, on the southside of the city. A fresh planning application was recently lodged for the £200 million complex after An Bord Pleanala rejected a previous plan by Castlethorn Developments.
