Vacant Longford Town Centre premises on market for €3 million
Dubbed the 'definition of the Celtic Tiger white elephant', Longford Town Centre which was completed in 2008 and has lain idle since has been put on the market so another developer or owner can 'realise the full potential’
The owner of the long-vacant Longford Town Centre has put the premises he has dubbed the 'definition of the Celtic Tiger white elephant' on the market for a guide price of €3million.
Mark Anderson, the Director of the Omniplex Cinema Group, said he is passing the baton on so another developer or owner can 'realise the full potential'.
The modern commercial centre, which was developed by Bernard McNamara and completed in 2008, stands on a 1.8-acre site and it has lain idle since it was completed.
The Longford Town Centre extends to approximately 23,575 square metres, including three levels of car parking with 344 spaces and 7,978 square metres of commercial space and it is being sold by TWM.
The transition from a factory site to a modern retail precinct on the banks of the Camlin River was intended to mark an important moment for Longford Town.
However, timing interrupted the eventual leasing and opening.
NAMA took over the vacant shopping complex. On behalf of the state agency, receivers put it on the market for €950,000 in August 2017 before the Omniplex Group bought it six months later through LSCbridge Limited.
Mark Anderson, Director of the Omniplex Cinema Group said they planned 'to rejuvenate the development by relocating the cinema to within the centre with retail, restaurants and other leisure uses' but COVID caused them to 'readjust their strategy'.
"I think it made sense for us because we acquired the centre in 2018 with full intentions to relocate the cinema to within the premises, to the extent of getting planning permission in February 2019 which was granted, and then COVID hit, and everything changed, not least also the cinema industry changed.
"When we came out of COVID, cinema hadn't really returned to pre-COVID levels, and we had to readjust our strategy.
"We have since renovated our Omniplex in Longford and we put in reclined seats into the number one auditorium, and we have invested in the cinema, but that investment didn't extend to our really big plan to relocate the cinema to within the shopping centre.
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"And I feel at this stage it's time that we pass the baton on to another developer or owner who can realise the full potential of the Longford Town Centre, and to open up the Camlin quarter of Longford.
"I suppose going back to when we built it originally there was a separate timing issue as well.
"And then the Celtic Tiger passed, and the credit crunch came, and really it is the definition of the Celtic Tiger white elephant, but you know, retail is turning a corner, and I really do believe that the new successful owner will be able to realise the potential of the site."
Mr Anderson said they have taken the 'unfortunate' decision despite the initial plans they had for the project.
"We would have loved to have been able to develop it ourselves, but in the aftermath of COVID we have had to pivot our investment strategy, and it just didn't fall in line.
"It's very unfortunate, it's just one of those things, and we will see the new owners, whoever they may be, well, and we look forward to working with them as neighbours, because the cinema will remain in its current location for the foreseeable future."
Mr Anderson stated they are 'fully committed' to cinema in Longford for the long term.
"We've been operating cinemas in Longford for over 45 years in that existing cinema and in the existing location.
"We built that cinema in 1998 and that cinema has been sitting there for nearly 20 years.
"There've been some great films out this year and it's doing it very well this year with the likes of Michael, the Devil Wears Prada and Project Hail Mary."