RETAIL MARKETThe competition for the retail market in Drogheda is to intensify further with the granting of planning permission for the German discounter Aldi to open a store in Drogheda Retail Park.

And with the supermarket precedent now established, the promoters have followed up with a planning application for a 6,000sq m (64,583sq ft) store which is likely to be pitched at Tesco.

Aldi is understood to have paid over €7 million for its 1,278sq m (13,756sq ft) premises at the entrance to the park where the line up includes Homebase, TK Maxx, Argos Extra, Harvey Norman, DID Electrical, Harry Corry, Halfords and KFC. Permission has also been secured for a further 2,800sq m (30,139sq ft) of retail warehousing and, says Peter Levins of letting agent Bannon, two new tenants to be named shortly will each occupy 700sq m (7,535sq ft).

The Aldi store will be its first in Drogheda and comes after the huge success of two Lidl outlets. The increasing competition by the two German giants will obviously make life even more difficult for the three existing shopping centres which are already feeling the effect of a resurgent West Street.

Galway developer Gerry Barrett is to embark on a major extension of Scotch Hall shopping centre which has been trading for over two years. In addition to the 18,000sq m (193,750sq ft) of retail space, there are plans for an additional 13,000sq m (139,931sq ft) of shopping facilities at ground and first floor levels. The scheme will also include an eight-screen cinema, a 13-storey office block and a 67-bedroom extension to the D Hotel.

Meanwhile, the Laurence Centre, which opened last year on the opposite side of the River Boyne, still has about 25 per cent of its retail space vacant. The anchor traders at the Laurence Centre are Marks & Spencer and Shaws.

Dunnes is also to anchor yet another new shopping centre on the Dublin side of the town to be known as South Gate.