Weekly Round-Up, August 25 2015
Published on Aug 25 2015 7:12 AM
Invesco Real Estate has completed the purchase of the Frascati Shopping Centre in Blackrock, Dublin, for a figure slightly over €68 million, reports The Irish Times. The company said it has formed a partnership with Burlington Real Estate to redevelop the centre and create an additional 68,000sq ft of shopping facilities. The Frascati Shopping Centre currently produces a rental income of €3.8 million. [Picture: Google Maps]
Independent News and Media plc (INM) has announced it is to close its printing operation in Belfast, with a loss of 89 jobs. The closure is expected to be implemented no later than June 2016, and according to INM, reflects the industry-wide trend of reducing print volumes as digital channels see continued growth. INM also confirmed its commitment to its Belfast publishing business, which will continue as normal.
The Irish Independent reports that according to Glanbia, the slump in milk prices will continue into 2016. Glanbia managing director Siobhan Talbot told the paper that the milk market is still dealing with a glut of supply as demand falls. So far this year, milk prices have dropped more than a quarter, coinciding with Irish farmers dramatically increasing production, and demand from key market China falling.
A new licensing system created by the Government in conjunction with An Post and Escher Groups has been announced, which will make it easier for businesses to register for licenses relating to the retail sector. The Irish Examiner reports that the system is expected to be rolled out to nearly 20,000 retailers by December and is expected to drastically reduce the time spent form-filing to comply with licensing obligations.
Tesco Ireland has submitted a planning application to Clare County Council for the development of a petrol station in Kilrush, which would incorporate a shop, forecourt and an internal mini roundabout. The Clare Champion reports that the application is also seeking permission for underground storage tanks and a circulation area.
Permission for a new Lidl outlet on theWestern Distributor Road in Knocknacarra has been appealed to An Bord Pleanala, reports The Connacht Tribune. City planners gave permission for the construction of a €2 million Lidl development, but locals have objected to the project, while retail representative group RGDATA has lodged an appeal in the hope of having the decision overturned, saying that there is no need for an additional discount store in the area.
Bord Gáis Energy has launched its inaugural business conference ‘Legendary Leadership Brings Success’, taking place at the Aviva Stadium on Thursday 24 September 2015. Rugby legend Ronan O’Gara, boxing coach Billy Walsh and Dublin football manager Jim Gavin are among those set to address the event. O’Gara, Walsh and Gavin will share their insights on how to attract, develop and manage top talent during a panel session that is expected to engage and inspire attendees.
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