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Greystones’s Meridian Point Shopping Centre sells for €1.5m over asking price

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Greystones’s Meridian Point Shopping Centre sells for €1.5m over asking price

Meridian Point, in Greystones.

Impression of the Pergola area, at Meridian Point, Greystones.

Impression of the Pergola courtyard area, at Meridian Point, Greystones.

The Meridian Point Shopping Centre in Greystones, an established two-storey plaza in the centre of the town, which went on the market for an asking price of of €5.5m has been sold for a figure believed to be in excess of €7m. Agents Avison Young were unable to disclose further details at this time.

The centre, which was opened in 2004 and is owned by the Cosgrave Property Group, comprises a range of retail units facing on to a central courtyard with generous carpark space to the rear.

In total, there are 20 tenancies with 2,604 square metres of floor space and 181 surface car-parking spaces. The centre is anchored by Costa Coffee, The Grafton Barber, Chakra by Jaipur and the town’s post office, with a total of 20 tenants.

The market potential for the centre was boosted last November when Wicklow County Council approved plans, with conditions, for a single-storey restaurant/kiosk area within the existing Meridian Point Shopping Centre which is on Church Road. The extent of the site consists of the majority of the ground floor plaza outdoor courtyard area.

The proposed development is for a public realm improvement scheme generally, which consists of a single-story restaurant/ food kiosk area, with two food beverage operator kiosks, a zone for a mobile food and beverage operator, a food hall-style covered seating area with a pergola roof. Plans also provide for public toilets (including disabled access toilet).

The proposal also includes the removal of existing benches, trees and loose planters currently located in the central plaza area to accommodate the new development. To mitigate against the loss of these existing public realm features, it is proposed that they will be replaced with new trees and concrete planters with built-in timber/timber effect benches.

It was noted that there is an existing statue located in the public area and it is proposed that this statue is moved from its current location to a more prominent location near the entrance of the Meridian Point Shopping Centre.

The plans for the pergola is for a steel-framed unity with timber effect infills to be installed with rotating slats over the proposed seating area. The proposed kiosk unit will feature PPC aluminium cladding in a gold colour. The louvres on the outer area of the kiosk to the plant area will also be finished in gold PPC.

The kiosk will feature a hatched area that can be opened and closed facing onto the proposed seating area and will not operate outside of the current opening hours of the Meridian Point Shopping Centre, which are Monday to Saturday from 8am-8pm and Sunday from 10am-8pm.

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