Tesco to spend tens of millions on massive new store
Published 03/02/2012 | 05:00
Tesco is likely to spend tens of millions of euro building a major new outlet at the Liffey Valley Shopping Centre in Dublin. It will be one of its biggest stores in Ireland.
The British retailer has applied to South Dublin County Council to construct a two-storey anchor retail development at the massive Liffey Valley complex, which is owned by Aviva Investors and the Duke of Westminster's Grosvenor Estates vehicle.
The application was accompanied with a €38,000 application fee payable to the council.
The blueprints call for a 5,200sqm (56,000 sq feet) Tesco store, which will probably rank in the top 15 of the retailer's portfolio here.
About 3,500sqm of the space will be dedicated to the sale of food and the remainder to items such as clothing and electrical goods.
It's likely the store will employ close to 200 people when completed. Tesco is Ireland's largest grocery retailer, with a 28pc share of the market.
Tesco's 'Extra' outlet in Clare Hall, north Dublin, which cost a reported €70m to build and opened in 2004, was originally roughly the same size as the planned Liffey Valley store. However, the overall Clare Hall development is now much larger, housing a number of other retail outlets. The Tesco outlet there extends over about 70,000 sq feet.
The Liffey Valley project will have a food court and five retail units on its ground floor and a total of 587 car parking spaces.
Tesco's largest store in Ireland is its Extra premises in Naas, Co Kildare, which opened in 2010. It's also the retailer's largest such outlet in Europe.
The new Liffey Valley store will be built close to an existing B&Q outlet on a 2.4 hectare site. It will necessitate a number of local road upgrades. The retail park already has Dunnes Stores and Marks & Spencer as anchor tenants.
A decision on Tesco's application is due from the council in March.