Plans submitted for €100m Mallow development
The company said the development, when complete, will create up to 400 jobs with an estimated annual retail turnover of €50m.
It will comprise spaces for retail units, office and leisure use, restaurants, a pub and residential units.
The proposed development on the edge of Mallow town will also include improvements to the road network, parking for over 1,000 cars and three public open squares.
The site is partly occupied by a 4Home Superstore home and garden outlet, which will be expanded.
Alchemy Properties managing director Michael Hogan said the scheme was a landmark development for Mallow and the company.
“It will attract new investment into Mallow, helping to transform the area and it establishes Alchemy Properties as a serious business with the capability and expertise to maximise the value and income generating capability of Dairygold assets,” Mr Hogan said.
We intend to grow the business with a number of other significant developments in the pipeline for the next few years,” he added.
Alchemy said the Mallow development can be expected to have a positive impact on the local economy, attracting an estimated 70,000 shoppers per week, providing local jobs and increasing property values in the area.
The site is situated on the edge of Mallow town centre and is easily accessible by road and rail.
A new bus stop will be provided on the site, along with pedestrian links to the town centre.
Road improvements will include a new southern access route linking the main Cork to Limerick road to Park Road.
Alchemy said extensive survey work and research into flood levels has also been undertaken and the development will be built taking into account the case history of the area and the 100-year flood levels identified by the Office of Public Works.
Alchemy Properties was set up earlier this year to manage and develop Dairygold’s property portfolio.
The redevelopment of the Mallow site is its second major scheme to be announced in recent months following the proposal for the development of a 25m scheme in Midleton in May.
A decision by Mallow Town Council on the planning application is expected this winter.
Should it be successful, work is expected to commence on site in 2006.
The development will take two years to complete and, according to the company, it will provide construction employment for 400 people.
