Naas Shopping Centre Woes

What is going on here? Kildare must be a wasteland for commerical property by now:

"Located on the site of the former Bank of Ireland branch, fronting onto South Main Street, the 15,700 square metre shopping centre had a projected completion date of late 2009.I t was understood it would open for trading this year. Most of the construction work was completed a year ago and this was to have been followed by the fitting out of shop units.

The development firm, which is owned by Liam O’Farrell and the McDermott family, has shelved plans to open the scheme until 2012.

Sarah O’Farrell of Marshalsea Property Company issued a statement in April in which she said the company was unable to deliver an opening date this year.

‘‘Taking the current economic situation into consideration and following lengthy discussion with our tenants, it has been decided to delay the opening of the centre for at least two years," she said.

There has been some speculation that the project was in difficulty because of a lack of interest among potential unit holders and that Dunnes Stores, the anchor tenant, had withdrawn or was seeking to re-negotiate terms."

sbpost.ie/property/shopping- … 49919.html

Apart from the “downturn” I understand there is some right-of-way issue which needs to be sorted before this centre can open up.

An Anglo funded project to boot.

The Naas shopping centre development (www.naasshoppingcentre.com/) in Kildare is funded by Anglo Irish Bank?

Now there’s a shocker for ya! Point Village…?