Owners plan development with over 1,000 jobs at Clerys site

Former staff at Clerys will protest outside the offices of the store's new owner today.

Owners plan development with over 1,000 jobs at Clerys site

Former staff at Clerys will protest outside the offices of the store's new owner today.

More than 400 people were left without work after the Dublin department store went into liquidation last week.

The shop's new owner Natrium says it understands the concern over Clerys' future and says it plans to support more than 1,000 new jobs at the site in the years ahead.

Natrium Ltd is a joint venture between D2 Private and funds managed by Cheyne Capital Management (UK) LLP.

It was established to invest in a range of real estate projects in Dublin and specifically Dublin City Centre and Clerys is its first development project.

Natrium's statement said: "Natrium recognises the considerable public interest in the future of Clerys following the events of the past week. We plan to significantly invest in the rejuvenation of the Clerys building and adjacent properties, in compliance with Dublin City Council planning policy.

"The intended rejuvenation, working in partnership with local stakeholders and other interested parties, will be based around designing and delivering a best-in-class mixed use destination for Dublin City Centre.

"This will be an important catalyst in the repositioning of O’Connell Street as one of the great thoroughfares of Europe and the iconic Clerys building and clock will play a central role."

They said they would provide more information and initial plans in the coming months.

The statement continued: "Job creation will feature significantly in those plans with approximately 1,000 jobs supported throughout the planning, design, refurbishment and construction stages of the project over a two year period.

"On completion, a predominantly retail-led development encompassing other commercial uses, subject to the planning process, will generate a minimum of 1,700 new sustainable long-term jobs in Dublin City Centre.

"We are advised that all issues with respect to the liquidation of the operating company are legally a matter for the court-appointed liquidator. Natrium recognises that the Clerys building has been a very important institution for generations of Dubliners, and in particular for those who have worked there over the years.

"We are conscious that the necessary closure of the department store has had a very serious impact on the former employees."

A Natrium spokesperson said: "The Clerys building can be transformed to create a major new mixed use destination in Dublin City Centre and to create large numbers of sustainable jobs. There is strong demand from international retailers and other commercial users for unique and best in class spaces within the City Centre that is not currently being met.

"Natrium looks forward to proceeding with its plans for the Clerys properties and the surrounding area in compliance with Dublin City Council planning policy."

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