Image 1 of 1

IN 20m Development Drogheda CB7E6253.JPG

?20 million expansion of Drogheda Shopping Centre to create over 150 jobs approved by NAMA, Pictured Minister Fergus O'Dowd, Neasa Glynn, Head of Operations, Eye Cinema Group and Ciara Newcombe, Edward Holdings at the Site in Drogheda..Picture: Fran Caffrey/ REPO FEE..?20 million expansion of Drogheda Shopping Centre to create over 150 jobs approved by NAMA..Edward Holdings, the Galway based development company headed by Gerry Barrett, is delighted to announce that it has reached agreement with NAMA on a major expansion of the Scotch Hall Shopping Centre in the heart of Drogheda town.NAMA will finance a ?20 million cinema, restaurant and retail complex to boost business at the six-year-old Scotch Hall shopping centre...This flagship shopping centre is seen as crucial to reinvigorating the business life of the Co Louth town which has been severely hit by the current recession. The development is expected to employ in excess of 150 people pre and post-construction...The extension of Scotch Hall will include:..-       An 8 screen cinema with a capacity of 1,500 people..-       A food court with 5 units and seating capacity for over 450 patrons..-       A new major shop unit..-       An additional 300 car park spaces..Work is expected to commence on the site in the first quarter of 2013 and is scheduled for completion by the third quarter of 2014...In an effort to find the most appropriate cinema operator, NAMA stipulated that Edward Holdings appoint an independent panel to interview interested cinema operators and make a recommendation on the most suitable applicant. Edward Holdings can now announce that the EYE Cinema was successful in the independent competitive process...It is anticipated that an indigenous Irish cinema brand such as the EYE with a proven track record though its highly successful operation in Galway will underpin the viability of Scotch Hall and maximise returns to NAMA.  A significant leisure element such as a cinema and food cour