Extra time required for shopping center worth €200m

Lindat Ltd, the owners of Galway Shopping Center, is confident that they will be able to secure funding for their renovation of the center.

They
stated that the progress of the project was hampered by the global
economic recession.

The
company, part of Pat Doherty Harcourt Developments, is seeking an
additional five years to complete the residential and 53400m² retail
project. In hand planning permission is set for expiration at the
end of February.

Lindat’s
consultants have stated that the initial application was passed early
during 2010 when the economic crisis was at its height. The positive
economic signs that now prevail has given them confidence that they
will be able to obtain funding and an extension to complete the
project is feasible.

The
development will take place over four blocks around a new public
street, consisting of six to eight storey buildings. This will
include:

• A
  total of 84 apartments, including eight three-bed, 75 two-bed and 15
  one-bed, along with private and public amenity facilities

• Four
  anchor units, including Tesco, Penneys and Marks & Spencer

• Smaller
  retail units totaling 90 within an internal center, along with
  eating establishments

• A
  theatre, music center and municipal art gallery

In
excess of 1450 parking spaces will be available, with a dedicated bus
lane and pedestrian footpaths.

Harcourt
Developments is one of the largest property companies in the country
and carries debts of about €800m.