Equity Bank to fund most of Dun Laoghaire centre

EQUITY Bank is to fund most of new the Bloomfields shopping centre, which is being developed in Dun Laoghaire, Co Dublin, by Monarch Properties. Equity is to provide £8 million towards the cost of the centre which will have a gross area of 140,000 square feet. The Power Supermarkets Group is to anchor the centre with a 50,000-square-foot supermarket, which will trade as Bloomfields. Power is funding its own store, which will involve a total cost of around £4.5 million. There will also be 25 other units shops, two restaurants and parking for 550 cars. The centre is due to open at Easter, 1997. Monarch Properties is understood to be in negotiations with UCI and Virgin to operate up to eight cinemas which will form part of the overall development. The cinema operator is likely to fund this element of the scheme but if not, Equity will underwrite the development cost.