Loves expand their investment at Fermoy
Published: 05 November, 2007
Dunnes Stores and Tesco are battling it out for pole position in the new shopping centre being planned for Fermoy, Co Cork.
The 3.25-ha site has been occupied by Fermoy Mart for the past 50 years and is in the middle of the north Co Cork town, just off Main Street. It was bought in September for €22.5m by the Shipton Group, a specialist in shopping centre development, owned by the Cork-based Love family.
Developing the Fermoy site is expected to take about three years and to cost over €150m. It will include a large supermarket anchor, which both Dunnes Stores and Tesco are keen to acquire, either by rental or purchase, along with a so far unspecified number of other retail units, a hotel, residential space and offices.
The Love family has plans for further developments in the Cork area, including a renewal scheme for Douglas village. The family was behind the initial development of the Wilton shopping centre in Cork and the creation of the Blackpool retail park to the north.
