Penneys is understood to have agreed purchase terms at around £12 million for a 60,000 sq ft store in the proposed extension to The Square Shopping Centre in Tallaght, Dublin 24. South Dublin County Council has announced its intention to grant permission for a £150 million extension to the complex which is owned by about 15 investors including AIB Investment Managers, Bank of Ireland Asset Management and Dunloe Ewart. The Penneys store will take a large portion of the 152,000 sq ft of retail space to be added to the centre. The extension will include 386 apartments, a 43-bedroom hotel, a 47-unit apart-hotel, a basement night club and a multi-storey car-park with 1,529 spaces. Despite opposition from Liffey Valley and Blanchardstown, Tallaght is continuing to trade exceptionally well, attracting around 15 million shoppers annually.