Arnotts' €750m redevelopment of its Henry Street store in Dublin city centre has been given the green light by Dublin City Council. The decision is still subject to ratification by the Irish planning appeals board but it is a step forward for the 1.6m-sq ft Northern Quarter development.
The planning consent covers a site bounded by Henry Street, O'Connell Street, Abbey Street and Liffey Street. It permits 47 new shops and four new cafes totalling over 200,000 sq ft plus a new store for Arnotts. The mixed-use scheme also includes 175 apartments and a 149-bed hotel.
At the same time Arnotts has confirmed that negotiations are at an advanced stage with a "strategic partner" which will carry out the development. UK-based regeneration specialist Centros Miller is expected to win the project ahead of Irish-based Ballymore. Construction is scheduled to begin before the end of 2008.
Arnotts is being advised by Savills Hamilton Osborne King and King Sturge.
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