Announcement

Collapse
No announcement yet.

Wilton Shopping Centre Saga continues

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    Wilton Shopping Centre Saga continues



    I'd say the former Roches Stores workers are feeling fairly ticked off this morning.


    So much for O'Donovan saying he had Penneys lined up to take the tenancy from M&S !


    http://www.irishexaminer.com/irishex...es/story.aspx- qqqg=ireland-qqqm=ireland-qqqa=ireland-qqqid=19508-qqqx=1.as p


    @@@@SPAN =articledate>29 November 2006 @@@@/SPAN>

    @@@@SPAN =articleline>€285m sought for rent row Wilton centre@@@@/SPAN>

    @@@@SPAN =author>By Tommy Barker@@@@/SPAN>
    @@@@SPAN =articlesummary>CONTROVERSIAL property investor Joe O’Donovan is putting Cork’s Wilton Shopping Centre on the market for €285 million, less than two months after 172 people lost their jobs there. @@@@/SPAN>

    @@@@SPAN =article>
    The Wilton complex was bought just two years ago for €124m from Tesco, who paid €80m for it in 2002.

    The Cork centre, which was at the centre of a rent row after anchor tenant Roches Stores closed and left 172 staff out of work, is being marketed with joint agents DTZ and CBRE.

    The complex is being earmarked for major development. Subject to planning, CBRE says it could quadruple to become a new western suburban town centre with a shopping mall, apartments, offices, basement car parking for 1,480 cars and medical centre on up to four floors. @@@@/SPAN>


    Mr O’Donovan had initially bought 60% of the shopping centre in partnership with Howard Holdings. Last month, he bought out Howard’s 40% share for an undisclosed sum.

    The huge price differential being sought is justified by investment specialist Sean O’Brien of CB Richard Ellis, selling for Mr O’Donovan, claiming “it is the best development opportunity in Cork”. The site sits on 17 acres, with scope to develop a new town centre and to go from 150,000 sq ft of buildings to 750,000 sq ft.

    However, Tesco has retained ownership of its new 55,000 sq ft store and controls a significant portion of the parking area.

    Mr O’Donovan hit the headlines in October after he and Marks and Spencer failed to agree over the rental value of retail space.

    Roches had agreed a deal with M&S for the British retailer to take over its lease on the 45,000 square foot anchor tenant’s plot for the same rental price. It also agreed to take on the former Roches staff.

    However, Mr O’Donovan demanded that M&S pay an increased rent. When agreement could not be reached, the deal fell apart. &

    Last night, Linda Tanham of the retail staff union Mandate said: “The debacle with Roches and M&S did seem to be all about money. We did always suspect that there had to be an ulterior motive. Any shopping centre would jump at the chance to have a retailer like M&S going into it.”

    Wilton traders’ spokesman Jim Byrne said traders would have an open mind on any possible redevelopment, and said they’d be glad not to have to deal with Mr O’Donovan as landlord.

    “People are entitled to a profit, but it shouldn’t be on the backs of traders. Our business is down 25% or 30% since Roches closed. We will make a sale difficult for him until our concerns are addressed. It is like a bad divorce and a messy divide.”

    Mr O’Donovan could not be contacted for comment last night.



    #2
    A 4 storey medical centre ? Opposite UCH ?

    Comment


      #3
      A few private centres are being built near CUH. A full private hospital down the road is in planning. The urgent care centre by CUH is to be one of those VHI centres for minor knocks etc. AFAIK.Also:

      New private medical centre for Cork[Posted: Thu 02/11/2006]

      Planning permission for a new medical centre, including
      specialist services for children, is to be sought by the 3G Partnership,
      the development company of the Cork-based Kelleher family, on a 1.1 acre
      site
      beside Cork University Hospital
      The company says it intends to seek planning for a multidisciplinary
      medical centre with underground car parking and related retail uses off the
      Bishopstown Road.
      The Wilton Medical Centre, the company says, will include
      facilities for a day surgery facility, specialist imaging and cancer services,
      a specialist children's clinic and a walk-in urgent care centre that will
      deal with minor injuries and illnesses. The 3G Partnership says the new
      facility will be a boost to medical services in Cork, creating in excess
      of 150 full-time medical-related jobs.
      The Wilton Medical Centre, which will cost €65 million
      to build, is intended to complement CUH and to relieve some of the pressure
      on medical services in Cork,according to the developers.


      Comment


        #4


        Originally posted by Corker
        A 4 storey medical centre ? Opposite UCH ?

        As with all things Tommy Barker, don't let the facts get in the way of the story !!!


        No, the Draft development plan being pushed by Joe O'Donovan's pal (City Manager Joe Gavin), http://www.corkcity.ie/ourservices/p...f/wilton_actio n_plan/Wilton_District_Centre.pdf


        says that the entire site can be demolished (Tesco's part can be excluded if preferred) and a new wider 4 storey structure (6 stories at the corners) with underground car parking. The first 2 floors would be shops, the 3rd floor would be offices/medical rooms, while the 4th would be apartments.

        Comment


          #5
          Originally posted by Clon
          A few private centres are being built near CUH. A full private hospital down the road is in planning. The urgent care centre by CUH is to be one of those VHI centres for minor knocks etc. AFAIK.Also:


          New private medical centre for Cork
          [Posted: Thu 02/11/2006]
          Planning permission for a new medical centre, including specialist services for children, is to be sought by the 3G Partnership, the development company of the Cork-based Kelleher family, on a 1.1 acre site beside Cork University Hospital
          The company says it intends to seek planning for a multidisciplinary medical centre with underground car parking and related retail uses off the Bishopstown Road.
          The Wilton Medical Centre, the company says, will include facilities for a day surgery facility, specialist imaging and cancer services, a specialist children's clinic and a walk-in urgent care centre that will deal with minor injuries and illnesses. The 3G Partnership says the new facility will be a boost to medical services in Cork, creating in excess of 150 full-time medical-related jobs.
          The Wilton Medical Centre, which will cost €65 million to build, is intended to complement CUH and to relieve some of the pressure on medical services in Cork,according to the developers.
          Anyone know where this site is exactly ? My understanding was there was to be a private hospital built on the grounds of CUH, on the waste ground by the Consultants Private clinic.

          Comment


            #6
            AFAIK their is to be a private hospital unit built on the grounds of CUH alright. The private hospital I was mentioning is a separate private hospital, along similar lines as the Galway Clinic, and the Mater AFAIK.

            Comment


              #7


              Originally posted by Clon
              AFAIK their is to be a private hospital unit built on the grounds of CUH alright. The private hospital I was mentioning is a separate private hospital, along similar lines as the Galway Clinic, and the Mater AFAIK.

              OK and AFAIK, no underground parking on that site !!!

              Comment


                #8

                Originally posted by Point

                Originally posted by Clon
                AFAIK their is to be a private hospital unit built on the grounds of CUH alright. The private hospital I was mentioning is a separate private hospital, along similar lines as the Galway Clinic, and the Mater AFAIK.

                OK and AFAIK, no underground parking on that site !!!
                My worry is having to pay for parking at the shopping centre. It's handy for free parking when going to CUH[img]smileys/cry.gif[/img]

                Comment


                  #9
                  Thereis something planned for where the old Esso station is on the main road.

                  Comment


                    #10


                    Originally posted by MadMax.
                    Thereis something planned for where the old Esso station is on the main road.

                    What main road is that then ?

                    Comment


                      #11


                      Between the hospital and wilton motors.

                      Comment


                        #12

                        Originally posted by MadMax.

                        Between the hospital and wilton motors.
                        That could be the location of the place that I pasted the details of above.

                        Comment


                          #13
                          Originally posted by MadMax.


                          Between the hospital and wilton motors.


                          Would they have bought the bungalow behind it so ?

                          Comment


                            #14


                            on 96fm at the mo


                            - O'Donovan did buy out Howard Holdings last month


                            - O'Donovan closed the Info booth in the SC (which is a pity as the lady there was very helpful)


                            - O'Donovan got rid of Europarks, so anyone can park there for the day now.


                            - Barker reckons that o'Donovan istesting the water, and that he'll be doing well to get anywhere near that.


                            - Barker said "unconfirmed" reports that Howard Holdings made €20m on top of what they had paid.

                            Comment


                              #15
                              Originally posted by Point
                              Originally posted by MadMax.


                              Between the hospital and wilton motors.


                              Would they have bought the bungalow behind it so ?


                              You are right there. It was purchased awhile back.

                              Comment

                              Working...
                              X