Major investment will transform Swords town centre

Swords is to be greatly strengthened as one of the key town centres in the greater Dublin area.

Leading developer Flynn O'Flaherty, who completed The Pavilions Shopping Centre more than three years ago, is gearing up to develop two further phases which will include a range of shopping, leisure and civic facilities that will enable Fingal County Council to transform Swords into the new county town. The overall investment is likely to exceed €400 million.

The Pavilions has already created a focus for the fast-expanding residential and business communities in Swords and around Dublin Airport.

The overall design by OMS Architects provides for a new system of pedestrian walks linking the old town centre with a new civic square and also with the stunning new County Hall built by Fingal County Council.

An Bord Pleanála is due to give a ruling shortly on the second phase of the new town which has already been approved by the Fingal planners.

The planning application provides for a glass-covered public square with 13 retail units and up to seven restaurants at ground and first floor levels.

Permission is also being sought for 11 cinemas - the minimum number now deemed viable by cinema operators before they will move in.

Another large scale development in north Dublin has failed to get off the ground in recent years after the planners refused to increase the number of cinemas.

Flynn O'Flaherty plans to proceed with the second phase of the Pavilions as soon as the board gives its ruling. The company is also on target to lodge a planning application in the next few weeks for the third phase of The Pavilions, which will include two levels of shopping with two anchor tenants and 750 car-parking spaces in a multi-storey building. The extension will cover an area of 30,000 sq m (330,000 sq ft) - slightly larger than the first phase of the scheme. The promoters are also likely to seek approval for a 150-bedroom hotel on the front of the site, including the former home and grounds of Mr Ray Bourke, the disgraced former Minister for Justice.

Development costs for the second phase are likely to be around €50 million and the facilities are expected to be completed in little more than a year.

The Eircom Superannuation Fund, which acquired the first phase of The Pavilions for an estimated €100 million-plus, also has an option to purchase the second stage of the development.

The fund, advised by Irwin Druker of Druker Fanning and Partners, has acquired a reputation for purchasing new developments at an early stage to reap the full benefits.

The fund is said to be "extremely happy" with its investment in The Pavilions and particularly with the high quality fit-out.

The overall design has also proved popular with traders operating from 50 shops on two levels. There is a good tenant mix with high quality and discretionary spending outlets concentrated on the upper level mall.

The ground floor mall is focused more on convenience and comparison goods. The two anchor tenants are Dunnes Stores and Superquinn.

Meanwhile the former Superquinn store close by is to be redeveloped by a separate company to include a large outlet for Penneys and over 100 apartments.