The phrase living-over-the-shop could be given a whole new context. Tesco, well known for its diversification into personal finance and petrol, is now looking to make its first foray into Irish residential property development.
The supermarket chain has submitted a planning application to Dublin City Council to build a five-storey over basement building at its village site in Sandymount, Dublin 4, with a new 1,611sq m (17,340sq ft) store and 23 apartments and duplexes above.
The proposal is expected to cause a stir in low rise Sandymount village where few buildings are above two storeys. A Tesco spokesman refused to comment on any potential controversy "while the development is going through the planning process" but it is believed that Tesco may be banking on the planners favouring a high rise development now that more stringent high density guidelines are in the pipeline.
Estate agent Nigel Bennett of Bennetts Auctioneers based in Sandymount village says that five storeys in this location "might be a bit optimistic but that is up to the planners. I imagine there will be some objection from people on Marine Drive who would be overlooked."
There are signs that the height of buildings in Sandymount are gradually going upwards.
A three-storey development is being built beside Tesco with retail at ground level, offices at first floor and apartments above.
The Tesco spokesman said the Sandymount apartment scheme would be the first it has attempted to develop in this country. There are apartments over Tesco Express in Swords, but these were built by another developer.
In the UK, developments are springing up above supermarkets, including Tesco, Asda, Sainsbury's, M&S and Waitrose. Tesco caused controversy in Darlington when it proposed a superstore and 130 apartments on the site of the town hall.
If Tesco's Sandymount venture gets the go-ahead, the apartments are likely to be targeted at time-poor types who like being able to nip down in the lift to the store to buy a ready-meal.
Nigel Bennett says the location will be a draw: "It's very central with the Dart nearby, shops and restaurants."
The entrance to the scheme would be off Marine Drive and there would be 31 basement car-parking spaces, three roof gardens and a courtyard on the 0.53-acre site.
