Plans for the €100m refurbishment of one of the country’s most popular shopping centres, St Stephen’s Green Shopping Centre, are unveiled for the first time.
Davy, a fund managed by a stockbroker and wealth manager, has presented plans to Dublin City Council to add two floors to its existing six-storey shopping centre.
St Stephen’s Green shopping center first opened in 1988 and Davy submitted the eight-storey plans after paying €175 million for the center on behalf of his clients in 2019.
DTDL Ltd’s project provides an additional gross floor area of 21,419m² and includes a redesigned shopping center opening onto St Stephen’s Green.
A report submitted with the application on behalf of Davy Real Estate Investment and Management offers an honest assessment of the limitations of the current “outdated” center design.
An architectural design statement created by the architects for the ambitious plan, said BKD Architects. Since opening in 1988, St. St. Stephen’s Green Shopping Center has faced many challenges in attracting sustainable retailers.
According to the report, most units are undersized and smaller retail units, particularly on the upper floors, trade poorly and can only operate on short-term leases.
The report states that the main tenant, Dunne Stores, is doing well along with Boots and TK Maxx.
As part of the plan, the project will now reconfigure the street level mall to accommodate larger, better quality stores with a partial retail level on the first floor and commercial offices on the upper floors.
The applicants also propose to introduce a new cafe/restaurant/bar area connecting the mall to the street.
The statement said that “the symbiotic relationship between the proposed uses will ensure the successful delivery of a rejuvenated and enhanced city centre experience for retail trading, in combination with workplace and leisure uses”, reports Independent.
BKD Architects said the plan is a vibrant commercial sustainable use capable of revitalizing surrounding streets; Create a new city gate and rejuvenate South King Street.
Planning consultants for the project, John Spain & Associates, said the existing building “has become outdated” and the proposal aimed to modernize a high quality shopping center and office facility in a centrally located location.
Mr Spain has stated that the proposed mixed use scheme will include the use of shops and cafes/restaurants/bars on the ground and first floors with offices on the 1st to 7th floors.
Mr Spain said the proposal will increase the number of on-site bars/restaurants and will improve the business core in Dublin city centre.
Mr Spain says the proposal represents a significant rejuvenation of a key site at the entrance to Dublin’s South Mall.
The report finds that St Stephen’s Green shopping center is currently underperforming in its retail function and its supply has the potential to significantly improve retail proposition in the region by supplying mid-sized units that are currently in demand by higher tier retailers.
A decision on the program is expected in 2023.
Tell us your thoughts in the Facebook post and share this with your friends.