Homebase to anchor new retail park in Carlow

RetailingAn anchor tenant has been agreed for a new retail park underway in Carlow town.

The new Four Lakes retail park is part of a wider development that includes more than 300 homes. Monaco Properties is behind the Four Lakes scheme and its accompanying residential component, Castleoaks.

Located on the Dublin Road, Four Lakes will offer more than 13,000sq m (139,931sq ft) of retail space, including 3,159sq m (34,003sq ft) for DIY anchor Homebase, part of the Home Retail Group.

Construction begins next month on the development, planned for completion in spring 2008. Along with the anchor unit there are another seven units offering a total of 10,600sq m (114,097sq ft).

The remaining units are now being marketed and quoting rents are in the region of €240 per sq m (€22.30 per sq ft). They range from 500sq m (5,382sq ft) at ground floor with mezzanines of 200sq m (2,153sq ft) and the developers are taking a flexible approach on size.

Monaco Properties is also developing Castleoaks, across the Dublin Road from Four Lakes.

It includes a mix of three, four and five-bedroom detached and semi-detached homes, and there are plans for a neighbourhood centre and ancillary units.

Access to the retail park and residential element of the development will be helped by the motorway bypass of Carlow. Under construction and set for completion by the end of 2008, Four Lakes is just south of the intersection of the new bypass and the N9, an ease-of-access that should help letting the commercial units, according to joint agents DTZ Sherry FitzGerald and Sothern Auctioneers.

Unit flexibility at the Four Lakes park means there will be opportunities for retailers selling bulky goods, including furniture, tiles, flooring and toys. Monaco is also to seek planning permission for a drive-through restaurant at the entrance to the site.