Billionaire owner of Sports Direct Mike Ashley is believed to be considering the purchase of the former Clerys building.

According to the Irish Times, the Newcastle United owner's representatives did not wish to comment on speculation, but did not rule out moving in on the property, which was purchased by the Natrium consortium for €29 million last June.

At the time, Natrium announced the site would be redeveloped into a retail zone and luxury apartments, but no progress has been made since the iconic store was closed and its 130 staff and 300 concession workers sacked without notice or redundancy payments.

Sports Direct owns 50% of Heatons, which has 60 stores across Ireland. It announced last year it would trigger a clause to purchase the remaining half for €47.5 million as part of a major investment in the Irish market.