MONARCH Properties has formed a joint venture company with the Tralee Urban District Council to develop the Lee Valley, an 18-acre site, on the outskirts of Tralee. It could create 150 jobs during construction and up to 400 jobs when the project is complete in two years time, Tralee UDC, said.

Tralee UDC said the site has been earmarked for leisure related development to strengthen the town as a holiday destination. The development will include a themed retail village, a multi-purpose leisure arena, a hotel and factory outlets with emphasis on Irish goods. The total cost is estimated at £20 million.