Updated 10.05 am
A REVAMP OF the Parkway Valley shopping centre site in Limerick, which was mothballed after the property crash of 2007, is set to undergo a €100 million redevelopment which investors say could create up to 2,000 jobs.
The site is located on the main Dublin to Limerick road and is only partially completed. Proposals now submitted to Limerick City and County Council by Northern Ireland-based developer Suneil Sharma seeks to resurrect the project under the name Horizon Mall.
The plan reduces the scale of the the original redevelopment with Sharma saying that Marks and Spencer has already agreed to come on board to take 100,000 sq.ft of retail space and create their largest store outside of Dublin.
“We are involved in very positive discussions with other major retail brands and will be making further announcements about this in the weeks and months ahead,” he said.
Sharma is a property developer who is managing director of management, development and investment company of Varsity Estates limited. He was also heavily involved in lobbying for the Race Relations Act into Northern Ireland.
The new Horizon Mall will also comprise 1,575 car parking spaces, a crèche and a playground on lands adjoining the project.
Planners estimate that Horizon Mall will generate in excess of €35 million of net disposal income into the city and local economy.
It is envisaged that the shopping centre will specifically support local jobs by way of an employment scheme similar to that trialled by FÁS prior to the establishment of Mahon Point Shopping Centre in Corlwhich targeted the long-term unemployed.
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