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IRISH BUILDING GIANT Bennett Construction has met with government representatives ahead of finalising plans to redevelop the former Texas Shopping Centre in Athlone.
An investment fund connected with the Westmeath company, which was responsible for the construction of Dublin City University’s Helix theatre, acquired the retail site for an undisclosed sum at the end of last year.
The former owner of the site was Thomas McNamara, who set up a number of Texas-branded department stores across Ireland.
Nearly two years ago, the rundown retail centre, which was closed down during the recession, was placed on the market with a guide price of €2.3 million.
The centre, which has been largely vacant for over a decade, sits on a 2.85-acre site between Golden Island Shopping Centre and Athlone’s town centre.
Bennett Property’s investment fund has bought the core retail centre, but the adjoining multi-storey car park and unfinished development which faces towards St Mary’s square were not part of the deal. These developments are still owned by third parties.
A spokesman for Bennett Property confirmed that the centre was acquired by the firm. Following the purchase, the company lobbied the government to get access to more information about previous plans for the site.
A representative for the company met with Minister of State Kevin Boxer Moran, a TD for the Longford and Westmeath area, this year to discuss its intentions for the development.
Bennett Property’s spokesman said that the company has engaged with further stakeholders and is preparing a delivery plan for “extensive refurbishment” of the shopping centre.
“Investment in this scheme will attract some of the key retail tenants to this location,” he told Fora.
Owing to commercial sensitivity we cannot disclose the identity of potential tenants, however we will disclose all relevant information once we are in a commercial and contractual position to do so.
According to the company, Bennett will tidy up the externals aspects of the building and carry out works to ensure the building is fully watertight over the coming months.
The spokesman added that the aim is to reopen the shopping centre in early 2019, or possibly earlier based on tenant and planning requirements. The firm says that a reopened centre could support 100 full- and part-time retail jobs.
History
The retail development acquired by Bennett Property originally housed supermarket Tesco before the grocer moved its local store to the Golden Island Shopping Centre.
After Tesco relocated, the building was then upgraded to cater for a further 14 retail outlets. It is now over 8,400 sq m in size and includes space for a 5,500 sq m anchor store.
Since the property crash, only two tenants, Shannon Dry Cleaners and food retailer Polonez, have been trading at the site. The centre is connected to a separately owned 401-space car park.
A few years ago, TWM, the agents charged with looking after the sale of the shopping centre, oversaw the sale of the nearby 14,000 sq m Golden Island Shopping Centre for €43.5 million.
Bennett Construction
Recently filed accounts for Bennett Construction showed that the firm made a profit of €6.75 million during 2017, while turnover at the company topped the €200 million mark.
The family-founded company was set up over a century ago and is now run by brothers Jim and Stephen Bennett.
It has completed numerous developments for the local operations of tech multinationals, including Airbnb’s European headquarters in Dublin and the pedestrian bridge that connects Google’s buildings on Barrow Street.
The firm has also been appointed as the main contractor for the 15,700 sq m Exo development in Dublin’s North Docklands. Upon completion, the project will be the capital’s tallest office block.
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These tolls are unacceptable the government just take so much money of car owners
@Anthony Ross: the government don’t take toll money
@Anthony Ross: and yet driving as a form of transport is still massively subsidised. A huge share of the true cost of cars is externalised onto general taxation. So those of us who decide to go without cars are paying for you to be able to drive them.
@Anthony Ross: the toll is privately owned. The government sold it during the Celtic Tiger days. Selling off another of the peoples assets
@Rua Rogan: Motorists pay road tax. That means you pay nothing if you don’t own a vehicle.
@Bomber: incorrect. Motor tax and taxes on fuel don’t cover the cost of road infrastructure. Driving is subsidised from general taxation.
It’s true, people without cars are paying towards roads with their taxes.
@Anthony Ross: Its just deflection from our incompetent non-Housing minister to cover up the fact that it was reported today that we are set to have far fewer house completions this year compared to last year despite said minister promising the opposite.
@Rua Rogan: Are you nuts ? Do you know how many Billions is taken in every year on petrol and diesel tax alone. Motorists pay 75% tax on petrol and diesel, they pay dearly for every mile driven.
@Soundy Sound: People with children paying or others with children, people without bicycles and/or not living in Dublin paying for cycle lanes.. people without …. Blah blah
@Michale Kane: ‘People without children paying for others with children’
@Michale Kane: your point is?
I was responding to someone claiming that those without cars don’t pay for the roads.
@Paul C: true, as far as I know it leaves the bloody country!!!! Shameful carry on
@Rua Rogan: Your food arrives to stores that you shop in, arrives by road.
@Rua Rogan: Do you also live off the grid or alternatively, maybe you use services that run on road infrastructure.
The list is huge, but here’s just a few-
Bus & Taxi transport
Deliverys to shops
Electricity and telecoms providers
Hospitals
Refuse collection
Fuel ²delivery
Gardai / army
Schools
Agriculture
Post/couriers
Building construction
@Rua Rogan: no its not. Motoring contributes €1.6Bn in taxation each year, and only a fraction of that is used for motorist related things. The truth is wider society: health, education, services, rides on the coat tails of taxation from the motorist. Its motorists who subsidise, not who are subsidised…
@Marie McPhillips: great idea to sell off something which would create funds for the state tickest nation in the world
I’d like to know what profit the toll owners get.
How much is put back into the infrastructure, and how much is just extra for people’s pockets?
@andy byrne: Their annual reports are available online!
@another one? what’s going on is the semi state sec: tell us then?????
@Buster Lawless: I’m not bothered looking it up again and providing the figures for you. It’s more rewarding if you look it up for yourself!
@andy byrne: the owners pockets, not the people of Ireland
And yet they will increase because that’s the end result of privatising everything, all for maximising profit without an ounce of care for the people it affects.
@Stephen Heffernan: For as long as companies have the rights of a person and a responsibility to their shareholders over all else, capitalism will continue to rape the world for money. Business as usual! Nothing to see here folks, on with your day!
And yet people will continue to happily vote for ffg wake up people seriously
@Mario Hennessy: the toll company are FGFF
@Paul C: wise up
Maybe the housing minister should concentrate on his own car-crash department.
For example, maybe explain to aspiring home buyers why they are squeezed out of the new apartment market.
Of 12000 new apt builds last year, 6200 were bought by institutional investors, and 4600 were bought by government funded bodies – with little over 800 available for private buyers/small investors.
How are young working people expected to be able to buy homes.
@Thomas Sheridan: he was elected in Dublin-fingal constituency. Likely to be the area most affected by toll changes. He’s representing his constituency. Just because you are housing minister doesn’t mean you get to drop all the responsibility of representing your constituents and stick to the department you are minister for. That is NOT how it’s meant to work. Albeit he is a shocking housing minister but nevertheless, you should never complain about a TD representing those who elected them. It’s their whole purpose.
@Eoin Jackson: Darragh will be unemployed and unemployable in a few weeks, neck like a jockey’s crown jewels.
@Eoin Jackson: He gets a privileged position at the government cabinet meetings to influence policy, not just comment on it like some helpless gombeen.
@Eoin Jackson: so you’re saying you agree with tolls not being increased, how about getting rid of them altogether !
@Thomas Sheridan: institutional investors built them
Don’t agree with tolls at all but should the housing minister not have bigger things on his plate
@Furious George – The Wasp: He does, the election!
@Furious George – The Wasp: probably to distract from his total incompetence and failure in his portfolio.
@Furious George – The Wasp: He wants a big pat on the back for being the great lad for calling out the toll operators.
@Furious George – The Wasp: bigger things than representing his constituents? It’s funny when TDs act on constituents worries and complaints they are told they have bigger things to worry about. When they don’t they are told they don’t care about their constituents. I am no particular fan of Darragh O’Brien, but I do know he was elected in Dublin-Fingal constituency, which is likely to be one of the areas most affected by the toll price changes. Therefore it doesn’t take a genius to understand that he is likely acting upon complaints he’s received by constituents.
@Eoin Jackson: Darragh will be unemployed and unemployable in a few weeks, neck like a jockey’s crown jewels.
@Furious George – The Wasp: Exactly, keeps on about 40k new housing this year, not remotely near that, so election will be before true figure is known.
As for tolls, if you have one between your home and work, claiim the expense as wholly and necessarily incurred, as do the business users. See what happens to ordinary citizens.
@Frank Cauldhame: may be so, but I wouldn’t hold my breath on that if I were you.
@Eoin Jackson: Yeah people like you who complain about parish pump politics when it suits ya.
@Michale Kane: it’s hardly parish pump politics. Is it an obscure political venture to benefit people of one constituency only it is? You do understand the point of constituencies you do? All of ye clowns are equally complaining about tolls going up, god forbid an elected representative does it on behalf of his constituents. Need a new angle to moan I suppose. Ffs.
Sure the government have just increased the VAT on petrol and diesel. Talk about the pot calling the kettle here…
Giving it to us with one hand and taking it with the other.
Toll goes up and VAT follows, we’re being s€rewed
Hey. We will build a tunnel to help ease traffic on the other roads. Tunnels working. Up the price to force drivers back on the roads we tried to clear. This country!
@Jay Kay: the tunnel was built primarily for HGV’s. It is free for them to use, and as a result they are not permitted to drive through the city centre. It is also free for busses and coaches. Peak time tolls for cars are designed to be expensive to discourage them from using the tunnel – there are public transport alternatives
@Kevin Kerr: coaches. Peak time tolls for cars are designed to be expensive to discourage the ordinary pleb from using, while doing nothing to discourage the business class and those whose companies pay the cost as an expense and get it written off as a cost against tax. same for all tolls, parking charges under travel expenses.
@Michale Kane: coaches and busses with minimum 25 seats. As for cars – yes, people with lots of money can afford to pay the expensive toll, and most people can’t afford it. This is a mechanism for restricting the number of cars that use the tunnel so that traffic flows efficiently. And yes, companies can write off the toll expense against tax and thereby get 12.5% back – what’s your point?
@Kevin Kerr: My point is, it’s great!.. they can rise them more… costs me nothing and less traffic for me to contend with.
@Kevin Kerr: Btw Kev, do you claim for both directions but only use one direction?
Twas a good auld civil servant trick back in the day lol.
@Michale Kane: no, I’ve never worked in the civil service. I do know though that this often happens in the private sector – I’ve signed off many an expense claim over the years
@Kevin Kerr: exactly ye never do any work in the civil service..lol
increasing tolls is a tax on: work, education, health. It’s that simple. M50 toll should be abolished completely, as should East Link.
Reduction or removal would be more appropriate.
All talk nothing done about it
If they really wanted to lower emissions they’d make the city more liveable and affordable so people wouldn’t have to move away from it and commute back and forth
Unnecessary and harmful, Just drives up inflation and pushes motorists onto the smaller roads, no one benefits except maybe a politician get their back scratched or a Canadian pension fund maybe?
Is there any reason or need for this or us it just the usual gouging?
@Padraig O’Brien: rhetorical question I guess
Large discrepancy between m50 toll almost €4. Toll on m1 €2+. It’s like shooting fish in a barrell
It can’t go up again, we are getting absolutely F…ING fleeced!!
@Andrew Martin: You mean we are being FG FF…ing being fleeced. The Government that just keeps on taking
Well Eamon knows dam well the Greedy Greens are finished during #election24 , These tolls should be decreased to stop carbonising atmospheric pressure.
Let’s have a cover your reg day and see how that works out.
What about the astronomical houses prices that you and your party have let proceed year after year after year ?
The Irish are gone too soft,imagine that happening in France, the French would bring the country to a standstill
@James Moylan: It’s building here, the anger amongst ordinary working people who kept going over the years despite all the scandals, has now reached the point where people have had enough & see no future. These are people who see their kids having to live at home & know they will never own their own homes. These are people who don’t usually protest & just work & pay their tax, but it’s reaching boiling point & Paddy is different to the Frenchman, when Paddy explodes, it’s going to get very messy. It won’t be the tracksuit brigade on O Connell street the Gardai will be dealing with, it will be their family & neighbours who have had enough. Hate Speech & Water Cannons coming in are the start, as Govt knows what’s coming & it’s coming fast.
Classic Fianna Fail Minister, an insufferable Spoofer, a real Del boy. His statement on saying this price increase should not proceed, when he knows full well it will & that he will do nothing to reverse it, is only matched by his fantasy statement that he will reach his Housing Target with the completion of 20,000 Houses in 12 weeks. He must be calling in the DIY SOS squad. Watching Mr Vote gate sitting beside him in the Dail today was stomach churning, these are the guys running us into the ground. We need drastic change fast.
Should be free, less cars through the city less ware on infrastructure meaning less maintenance which can fund the tunnel. Also all residents on a Dublin bus route should have their property tax increased by say 5 euro person resident over 18 which would cover public transport costs which be free for all residents in Dublin.
@Be Lucky: A bus route, seriously!! Maybe a metro route or Luas, but you would expect that in most cities, having a bus route outside your door would not be seen as anything exceptional
The state own the tunnell on behalf of the people of ireland. Just like the m50 . They paid 500 million to the private company who built the west link bridge Originally cost 37 / 57 million . So government buy it back at 500 million over 10 years plus interest. Its a cash cow. Just like the tunnell.
@Christopher Fealy: We are being exploited. Not slaves, but certainly not free. Modern slaves. And our own have enslaved us.
Good man Darragh, a man of the people.
Yeah. They shouldn’t proceed says the 2 tonne head fat man. But you can be guaranteed they will.
The Government owns the M50.
Being that TII is responsible for the infrastructure of our highways, light rail and greenways, I don’t see a slight increase of toll pricing.
Provided that more cycle/walk green ways are delivered, more safe city cycle paths are structured, the Luas is extended and include online security, and the network of highways are expanded.
@Seriously Really: Should put tolls on cycle lanes and ring fence all that money only for cycles lanes.
@Seriously Really: motorists should not be subsidising those. If they can’t support themselves, then we increase charges on those, not the motorist.
There must be an election coming up.
The east link surface was shocking for years – then they finally did a botch job on it, some boyos won the contract and kids would have done a better job
have your say