DUBLIN CITY COUNCIL is to take over Ballymun Shopping Centre after fears were raised about its future.
The local authority, which currently owns 47 per cent of the centre, is to buy the remaining 53 per cent from co-owner NAMA.
In a statement, Dublin City Council said it believed that taking over the entire shopping centre could help to boost it and help with the overall regeneration of Ballymun.
Tesco, the anchor shop in the beleagured centre, announced in March that it would close its store due to a significant decline in customer numbers in recent years.
The shopping centre was neglected during the regeneration of the north Dublin suburb, with many shops shuttered and jobs lost. There had been plans to close it down and build a new shopping centre but these plans flailed and eventually died.
The local authority said that the problems facing the centre could be best dealt with by a single owner.
Local Fine Gael councillor Noel Rock said that a strong retail presence was needed for the future of the area, particularly for the many residents who don’t have cars and can’t drive to other shops.
“Currently we have a relatively empty shell facing out on to Ballymun Road, and I think we should be working to ensure that this is renewed, revived and regenerated,” he said.
Dick Brady, the assistant city manager, was optimistic about the future of the centre.
“This acquisition, working with existing tenants of the centre, along with placing on the market a site just to the north of the existing centre which will hopefully secure a major retail outlet, will create the conditions necessary to advance the complete redevelopment of the site and the completion of a new modern heart for Ballymun town,” he said.
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