Plans for major Galway city development

The sizeable office and retail space will overlook Galway Docks...

Galway-based developer Gerry Barrett has submitted a planning application for a substantial office development in the city.

The proposed €100 million development would overlook Galway Docks and offer a mix of commercial and retail space.

It likely to get the green light from the city council in time to attract post-Brexit foreign direct investment, according to The Irish Times.

Barrett's Edward Capital expects it to create over 500 jobs during construction and 2,600 permanent positions upon completion.

The developer said:

"It will cement a reimagining of Galway as it moves towards 2020 and takes up the mantle of European Capital of Culture."

The complex is primed to boast four top-end office blocks, standing at either six or seven storeys in height and making up 26,000 sq m, as well as just over 2,000 sq m of retail space. The blocks will share a basement level and stand next to a landscaped plaza. The site lies adjacent to an even larger property owned by CIE which is expected to be developed in the coming years.

Picture by: Niall Carson/PA Archive/PA Images

Barrett will launch the Bonham Dock venture this week. He purchased the two-acre docklands site for €9m in 2005, when it was still being used as an oil storage depot by Topaz. Once cleared, it went on to act as an entertainment centre for the Volvo Ocean Race (pictured) in 2008.

Barrett exited NAMA two years ago when €778m in loans held by Edward Holdings were sold off at a considerable discount. The company had an extensive portfolio that included the G Hotel and Meyrick Hotel in Galway, the D in Drogheda and Mayo's Ashford Castle.

 

The newspaper also reports that there is "considerable confidence" that Bonham Dock would generate interest among overseas companies, owing to its proximity to the centre of Galway and surplus residential accommodation.