M&S to create 450 jobs in Dublin

Marks & Spencer is to create 450 jobs when it opens its largest store in the State in north County Dublin.

However, recruitment will not start until four months before the outlet opens in 2014.

The retailer has agreed to become one of the anchor tenants in a new development at the Pavilions shopping centre in Swords, Co Dublin after a negotiation process that has lasted about a year.

The move is part of a €500 million extension to the north Dublin shopping centre, which is expected to be completed in five years time.

In September, An Bord Pleanála gave the go ahead to the extension, which will increase the total size of the development to more than one million square feet. Current anchor tenants in the retail centre include Dunnes Stores, Superquinn and Zara.

The new jobs will be a mix of full and part-time permanent positions, according to Marks & Spencer's Ireland chief Jonathan Smith.

"It's an indicator of a long-term strategy, despite the economic difficulties at the moment," he said. "M&S is a popular brand. Our food business is very different from other supermarkets. It wil bring something different and exciting to the centre."

Marks & Spencer has 20 stores in the Republic and employs 3,000 people.

The centre is part owned by Chartered, Land, which has a 50 per cent stake in Pavilions and also has interests in the Ilac Centre and Dundrum Town Centre in Dublin.

Chief executive Dominic Deeney said the expansion would allow the creation of a regional shopping centre in the area and was viewed as a long-term investment.

"Large-scale regional shopping centres take anything up to 10 years to deliver. It's inevitable there will be one or two economic cycles during the period," he said. "We anticipate by the time we build the centre, it'll be well into the next upswing in the economy. We try to time the delivery of the scheme so it's being delivered in an upswing."

The centre was bought by Chartered Land in 2006 for over €500 million. The remaining 50 per cent is split between Irish Life and IPUT, which each have a 25 per cent stake.