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SDCC confirms proposed agreement with NAMA re: development at The Square, Tallaght

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19/09/2013

Archived item. This item is published here for historical reasons. The information below may be out of date.

South Dublin County Council confirms proposed agreement with the National Asset Management Agency (NAMA) to facilitate development at The Square, Towncentre, Tallaght.

South Dublin County Council, following detailed analysis, considers that the disposal of certain lands within the vicinity of The Square Shopping Centre will assist with the overall development and enhancement of The Square and help to increase economic activity and create jobs in the area.After very constructive discussions, the Council has reached agreement to sell these lands to NAMA subject to obtaining all necessary approvals from the Council’s Elected Members, who will consider this proposal at their next meeting scheduled for the 14th October.

The proposed disposal is in line with the Council’s on-going efforts to rejuvenate The Square and promote job creation and development in the County. The Council identified NAMA as an appropriate partner given its expertise in progressing developments and its existing interests in the Square. By co-operating in this way, we are confident of enhancing the value of the assets in which NAMA has an interest whilst rejuvenating The Square as the economic hub and town centre for Tallaght. Towards this end, a planning application for a major expansion of The Square will be lodged in the coming days with NAMA support and funding.

Notes to the Editor:

October’s meeting of South Dublin County Council will consider proposals that would see the Council dispose of its interest in the lands comprising the surface car park at The Square to NAMA.

NAMA, in its role as secured lender, has an interest in a substantial number of existing units at The Square.

The proposed expansion will generate approx. 300 construction jobs and 400 operational jobs when complete.

For further information, please contact the Communications Office on 01 4149285

email: communications@sdublincoco.ie

-ENDS-

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