TK Maxx to open in Dundrum Town Centre and Ilac centre

Discount clothes retailer TK Maxx is to open a large storet at Dundrum Town Centre.

It will be its 17th Irish outlet and its fifth store in Dublin.

The multiple is also currently fitting out a new shop at the Ilac shopping centre off Henry Street.

The Dundrum shop will be located in the ground floor of the office block occupied by the RSA Insurance Group (formerly known as the Royal and Sun Alliance).

It will have the use of at least 2,043sq m (22,000sq ft) in the office and retail park and is expected to open next autumn.

The lease is likely to have included a two-year rent- free period and a payment of 6 per cent of turnover to the landlord in lieu of rent.

The company operates the same payment system for all its stores, which stock a wide selection of designer labels and high street brands at discounts of up to 60 per cent of the original cost.

Keith Shields of Savills, who handled the letting for the management of the Dundrum centre, said the arrival of TK Maxx would be "a game changer for the retail park" which had direct access to the Tesco car park.

Bannon are joint letting agents at Dundrum while DTZ Sherry FitzGerald advises TK Maxx.