Atlantic Homecare is to be the anchor store in the Lake Point Retail and Business Park in Mullingar, Co Westmeath. Several other high-profile traders are also in negotiations to open outlets at the park, the largest of its kind in the midlands. Atlantic is a subsidiary of Heiton Holdings plc which is also opening a 35,000 sq ft outlet in Newbridge in the coming weeks.
The Mullingar store will have 31,000 sq ft as well as an adjacent garden centre. According to Heiton, the DIY market in Ireland is growing at 12 per cent per annum, driven by increased prosperity and strong consumer focus on home improvements. Atlantic Homecare, which has 28 per cent of the sector, has generated strong profit growth in the past 12 months on the back of this rising demand.
Lake Point will have 80,000 sq ft of retail warehousing as well as almost 400,000 sq ft of commercial buildings suitable for information technology, industry and business. With extensive frontage on to the Mullingar bypass, it will also have a mixture of 640 residential units which have been selling extremely well. The scheme is located on a 125-acre site and is being developed by Daracom Ltd, whose managing director is Mr Sean McKeon, one the best-known builders in Dublin.
