Tesco Ireland has begun work on a major new convenience and comparison retail scheme in Maynooth. The 9.1 ha site is an amalgamation of the former Mart site and existing shopping centre.
The development will include a Tesco anchor store, with a further 23 retail units totalling 17,246 sq m. The units will range in size from 75 sq m to 4,716 sq m. In addition there will be a family restaurant and drive-thru restaurant together with car parking for 1,448 cars.
Phase I, comprising the Tesco store and approximately 10 retail units, will be available for fit-out in autumn this year. Phase II, comprising two anchor stores and the balance of the units, will be ready in spring 2009.
Karl Stewart, retail director at letting agent DTZ Sherry FitzGerald, said: "A number of high-profile retailers have entered into the advanced stages of negotiation." Quoting rents are about €430 per sq m.
Have headline rents in shoping centres started to fall?
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