Local consortium set to buy old Texas/Tesco site
20th August 2018
A local consortium is believed to be in the process of acquiring the former Texas/Tesco site at Kilbride Plaza in Tullamore.
The Tribune has learned that two well known Tullamore business people have joined forces to buy the land, which is in the hands of Deloitte and Touche. The two people involved already own a number of establishments around the town.
A steel perimeter fence was erected around the site two weeks ago and a car park which was run by Emmet Lynch on the grounds has been closed down. In addition a gateway between the Tullamore DEW centre and the old Texas site has been locked.
The Texas site is zoned 'Town Centre' and an 'Opportunity Site' which means the council will be seeking the new owners to add to the development of Tullamore centre.
Town Centre zoning is primarily for commercial use with residential use as secondary.
According to the town development plan the objective is to encourage a ''diversity of uses for both day and evening. These could include retail developments, bank and other financial institutions, cafes, community buildings, civic buildings, entertainment, hotels, leisure and recreation offices.''
The plan states that any development ''should serve to reinforce the vitality and viability of Tullamore town centre while meeting the needs of its community and surrounding hinterland.''
It also needs to take into consideration the particular character of the area. A diversity of uses for both day and evening is encouraged.
A spokesperson at Offaly County Council said a three or four storey high facility would be considered with ground floor retail and offices or apartments overhead.
The President of Tullamore Chamber of Commerce, Ann Starling said what is badly needed is a varied mix of good shops. The town is crying out for such a complex, she said.
''I hope whoever bought it develops it sooner rather than later as the town needs it,'' said Ms Starling.
In March of this year CarVal the US investment group took control of the portfolio of developer Eamonn Duignan who bought the site in 2007 with a view to opening a three storey shopping centre. However, Mr Duignan's company, Inverine Plc accumulated vast debts and CarVal appointed Ken Farrell of Deloitte and Touche as receiver.
This is the first sign of hope for the area which has lain idle and become derelict and an eyesore over time.