Irish Times 27th March 2002

Atlantic to anchor Galway retail park

Atlantic Homecare is to anchor a new retail park at one of the principal gateways to Galway city. Wellpark Retail is to be developed on a key seven-acre site off the Moneenageesha roundabout on the Dublin road, which has also been earmarked for a high quality leisure complex.

The redevelopment of the former builders providers yard owned by Corbetts, only one kilometre from Eyre Square, probably means that it will be the last major retail park so close to the city centre.

The mixed scheme is being developed by businessman Gerard Barrett, whose company, Edward Holdings, was responsible for the successful Edward Square retail scheme in Galway city centre. The company is also to embark on a major shopping centre in Drogheda later this year (see below).

Atlantic Homecare will be paying a rent of around ?50,000 for two units of a combined 4,181 sq. m. It will also have back-up accommodation at mezzanine level to the rear and an external garden centre.

All the indications are that the park will have a scarcity of lettable retail warehouses because of the high level of interest in it. Two leading traders are in separate negotiations to rent two units each and if these lettings proceed, there will then be only four more units left ranging in size from 697 sq. m. to 1,439 sq. m.

Edmund Douglas of agent Douglas Newman Good is quoting ?69 per sq. m. for these buildings which will have slick front elevations combining frameless glass and elegant panels with integrated signage canopies.

The front block in the park will have an interesting mixture of retail warehousing, convenience stores, restaurant and offices over a basement car-park. There is likely to be plenty of competition for the two-storey convenience stores because of the big local population and the high level of traffic passing the park. The largest retail warehouse of 2,100 sq. m. will have a strong presence off the roundabout, and will have a double height glazed faie. It is likely to be of interest to outlets specialising in furniture, toys, sports goods and electrical appliances. The 1,204 sq. m. of convenience stores are available to rent at ?78 per sq. m.

The office element will be laid out over three floors along the Dublin road frontage. Designed by Gerry Hand of Douglas Wallace architects, there will be 6,200 sq. m. of floor space that can be let to a single tenant or subdivided around a reception core with individual units starting at 600 sq. m. Office rents are likely to be around ?18 per sq. m.

Another phase of the park, about to go before the city planners, will provide almost 6,000 sq. m. of leisure facilities including a seven-screen multiplex cinema, leisure centre and a swimming-pool, skating arena and a Hard Rock style restaurant.

These facilities, which will be a real boom to the city, will be provided in a contemporary three-storey glazed block which will be highly visible from the Dublin road. Surface car parking will include 250 spaces in the centre of the site and further 350 spaces below ground.

Edward Holdings is also developing around 100 homes on an adjoining site which will be completed this year. The retail park is due to open for business in the autumn of 2003.

By Jack Fagan

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