Plans scrapped for new top end Dublin retail concept
The 15,000 sq foot supermarket in Shankill, Co Dublin has been fully renovated but will lie vacant until a new buyer is found
16 February 2015
Investors behind a new retail concept for South Dublin have pulled out of the Irish market before opening their first store.
Plans for a new high end retailer to be located in the old SuperValu in the Shankill shopping Centre, Co Dublin have been shelved despite a complete renovation job being carried out on the premises over the past few months. The store was due to open this month.
The Shankill shopping centre is owned by a company called Bilaro, which is linked to Maxima, a Lithuanian chain. Maxima has around 500 stores across the Baltics, Bulgaria and Poland. It also owns 199 Supersol supermarkets throughout Spain.
Bilaro’s directors are two Lithuanians, Airidas Kondratas and Aurimas Zimnickas, who work for Agile Investment, an investment arm of Maxima.
A source told ShelfLife that the investors got cold feet about the new project and will now be looking for a buyer for the site.
The 15,000 sq foot supermarket was to be similar in concept to a Superquinn store, featuring lots of fresh food and premium produce and it was believed the company picked the area because it has a high volume of affluent shoppers. There were plans in place for more stores in Ireland but the company was waiting to see how the first store performed before going ahead with this.
The Shankill centre was once owned by Select Retail Holdings (SRH), the consortium that bought Superquinn from Feargal Quinn, but was bought out of receivership in 2011 by Musgrave.