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12/09/2011
NI Developer To Finish Limerick Centre
A Northern Irish property developer has taken on the job of finishing a half built shopping centre in Limerick.
According to the Irish Times, Suneil Sharma has agreed to take over building the Parkway Valley centre off the Dublin Road after acquiring an adjacent retail park for €30m.
Construction started four years ago on the €150 million Parkway Valley site
but was halted when Liam Carroll’s Zoe Group collapsed three years ago.
The newspaper reported that the project would cost between €50 million and €60 million to complete but that Mr Sharma would not be drawn on how much he is investing in the project.
Movement had been expected on the site after planning permission was extended in late August.
The original plans were for a 92 unit development, which was to include an Olympic sized ice-rink, a 10-screen cinema and up to 40 retail units. Tesco Extra and Penney’s were advertised to occupy these slots in the development.
Mr Carroll halted development on the site in 2008 after failing to secure anchor tenants.
This is the first signs of movement to be seen on the site in considerable time. The skeletal development was left vacant and the cranes were auction off back in March of this year.
(LB/CD)
According to the Irish Times, Suneil Sharma has agreed to take over building the Parkway Valley centre off the Dublin Road after acquiring an adjacent retail park for €30m.
Construction started four years ago on the €150 million Parkway Valley site
but was halted when Liam Carroll’s Zoe Group collapsed three years ago.
The newspaper reported that the project would cost between €50 million and €60 million to complete but that Mr Sharma would not be drawn on how much he is investing in the project.
Movement had been expected on the site after planning permission was extended in late August.
The original plans were for a 92 unit development, which was to include an Olympic sized ice-rink, a 10-screen cinema and up to 40 retail units. Tesco Extra and Penney’s were advertised to occupy these slots in the development.
Mr Carroll halted development on the site in 2008 after failing to secure anchor tenants.
This is the first signs of movement to be seen on the site in considerable time. The skeletal development was left vacant and the cranes were auction off back in March of this year.
(LB/CD)
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Northern Ireland WeatherToday:A chilly start with a widespread frost and some freezing fog, any freezing fog slow to clear. Otherwise bright with sunny spells and coastal showers. Light winds. Maximum temperature 6 °C.Tonight:Coastal showers dying out with a widespread frost developing along with freezing fog, which could become extensive. Winds remaining light. Minimum temperature -3 °C.
