Retail Property - Dublin's Tallaght mall set to double in size

The Square Town Centre at Tallaght, Dublin, one of the city's largest shopping centres, will become twice as big - almost 1 million sq ft (930,000 sq m) - if plans for a EUR500 million (£335 million) expansion scheme go ahead.

Opened in 1990, the centre was originally developed by GRE Properties and Monarch Properties. It has a gross area of 860,000 sq ft (80,000 sq m), of which 430,000 sq ft (40,000 sq m) is accounted for by lettable retail space.

Tallaght has 165 retailers at present. These include many top UK and Irish high street names, such as Boots, Dixons, Dunnes Stores and Tesco.

The centre's owner - a consortium of about 16 investors, including Bank of Ireland Asset Management and Guardian Royal - has formed a joint venture with leading Irish property developer Noel Smyth. They are drawing up plans to double the size of the centre.

If the plans get the green light, The Square Town Centre will rival Dundrum Town Centre, which is being built, in retail capacity.

CB Richard Ellis Gunne in Dublin says that current rents in the centre are EUR1,800 (£1,200) per sq m, compared with EURA2,800 (£1,880) per sq m in the Liffey Valley shopping centre and EUR7,000 (£4,700) per sq m on Grafton Street in central Dublin.