NAMA confirms support for city centre retail build

On Sunday last, Newgate Properties Ltd confirmed they will seek planning permission from Waterford City & County Council shortly to develop a high-profile site covering almost four acres at Michael Street in Waterford city centre.
The company will submit a planning application to the Council in coming weeks with the application funded by NAMA (the National Asset Management Agency).
The proposed development will generate up to 250 jobs during construction and is expected to support up to 480 retail and support jobs when complete with this figure likely to increase seasonally.
It’s envisaged that the new centre, which will also be bounded by Alexander Street, New Street and Stephen Street, will accommodate a range of retailers, primarily fashion and other specialist outlets. It will include:
* Over 10,000 square metres of gross retail floor area split over two levels;
* A prestigious anchor unit together with a number of medium-sized units for international and national brands and smaller retail spaces;
* Cafes, restaurants and food retailers and;
* A four-storey car park with 385 spaces.
A spokesperson for Newgate Properties Ltd, a south east-based property development company, said: “We are delighted that NAMA is funding the planning application process for this project which will, subject to planning permission being granted, provide a huge boost to Waterford city.

An architectural image of proposed development at a site on Michael Street and surrounding streets in Waterford for which planning permission is to be sought shortly from Waterford City & County Council by Newgate Properties Ltd. The planning application is being made with the support and funding of NAMA (the National Assets Management Agency).

An architectural image of proposed development at a site on Michael Street and surrounding streets in Waterford for which planning permission is to be sought shortly from Waterford City & County Council by Newgate Properties Ltd. The planning application is being made with the support and funding of NAMA (the National Assets Management Agency).

“The new centre will bring much-needed jobs and great new shops, restaurants and cafes to the area – boosting the footfall in the city centre and securing Waterford’s regional primacy as a vibrant shopping destination. It will also enhance public spaces and facilitate improved pedestrian linkages through this part of Waterford city.
“Our design team is acutely aware of the highly sensitive planning and heritage context of the site, particularly in relation to archaeology and conservation, and we have consulted extensively with Waterford City & County Council and other statutory bodies.”
The site of the proposed multi-storey car park is principally bounded by John’s Lane/New Street to the north and north-east, Brown’s Lane to the west and Castle Street to the south-west. This site is primarily occupied by industrial-type buildings previously used by Waterford Institute of Technology which are now vacant and falling into disrepair.

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