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New plaza central to €135m plan to revamp Liffey Valley

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The Liffey Valley plan is centred around a new public plaza

The Liffey Valley plan is centred around a new public plaza

The Liffey Valley plan is centred around a new public plaza

Property group Hines has lodged a €135m plan to extend the Liffey Valley Centre in Dublin.

According to consultants, it would provide a leisure, entertainment and retail extension centred around a new feature - a large public plaza.

The proposed extension is to be anchored by two large retail units on either side of the plaza.

An assessment says the planned extension would deliver an additional €128m in revenue by 2025.

It states that by then, the centre will produce annual retail revenues of €462m, compared to a pre-Covid 19 estimate for 2020 of €317m.

The planning application was lodged after the Government announced plans for the first wave of measures in response to coronavirus last month.

Hines manages the centre for its German pension fund owner, Bayerische Versorgungskammer, which bought the centre and adjacent land in 2016 for more than €630m.

Invested

It says the owners "have invested significantly to date to deliver improvements to the customer experience, service facilities and public realm".

Planning consultants Avison Young say the application "will not only deliver significant improvements to the offer and operation of the Liffey Valley Centre, it will also completely alter the role of the centre by providing a focal point for the community and greatly enhance the visitor experience".

Avison Young also claim the proposed development "represents a step towards redefining Liffey Valley Centre as a prominent economic driver as a focal point for the community and as a tourist destination".

The plan is made up of a two- storey commercial extension comprising of over 46,783 sq metres.

An Bord Pleanala rejected plans for a previous extension in 2017, due mainly to the impact it would have on roads.

That application included an ice rink. That is not part of the new scheme and the number of car-parking spaces has been reduced from 1,820 to 855. The number of bike spaces has increased from 180 to 590.

The design team have already told council planners the new proposal is smaller, compared to the 2017 plan.

Hines said: "We will continue to work with South Dublin County Council and all relevant statutory and local stakeholders.

"It would be inappropriate to make any further comment."