Tesco is "optimistic" that its £12 million (15.1 million) Clearwater shopping centre at Finglas in north Dublin will fare better than its predecessor, Janelle, which is scheduled for demolition.
Janelle will continue to trade until the new centre, being constructed across the car-park, opens at the end of October.
Developed by Monarch Properties in 1987 on the site of a textile factory, Janelle's fortunes have declined in more recent years as a result of competition from bigger centres like the Blanchardstown shopping centre and the Omnipark in Santry.
"Janelle is not at the races any more," says Ms Sara Morris, of Tesco's Ireland's Corporate Affairs division "It's dark and enclosed and these days people are used to better." Tesco purchased the centre from Wanze Properties (Ireland) two years ago for an undisclosed sum.
The new centre is a single-storey open format centre comprising a 37,000 sq ft supermarket with a department store element selling a range of household goods. It will be the first in Ireland to sell Tesco's own-brand fashion label, Florence and Fred.
There will also be six independent retail units made up of existing tenants of Janelle: a newsagent, butcher, clothes shop, pharmacy, travel agent and a post office.
The centre is open fronted, meaning each retailer has own-door frontage, giving them the flexibility to open to their own hours.
When the old centre is razed later this year, three retail warehousing units will be built in its place, two of 10,000 sq ft and one of 8,000 sq ft. It is expected they will command rents of between £18 and £22 per sq ft (22.70-27.74). There are also plans to knock down the Janelle cinema, along with industrial units located beside it.
The new centre is to be called "Clearwater", the English translation of Finglas, which Ms Morris says was decided upon in consultation with locals. "This is a new development and a different time. They want to draw a line in the sand," Ms Morris said.
Tesco has 77 stores in the Republic. It currently has a 29,000 sq ft store under construction in Tralee and has just opened a store of 28,400 sq ft in Newbridge. The group also has planning applications for stores in Michelstown, Co Cork and Tullamore, Co Offaly, while an application for a store at Clarehall, Malahide is on appeal with An Bord Pleanβla.
