New owners of Clerys vow to create 1,700 jobs

NewsBy Sunday World
Clerys closed its doors a week ago today
Clerys closed its doors a week ago today

Natrium, the consortium which took over Clerys last week, has promised to support as many as 1,000 jobs during a redesign of the iconic Dublin store.

About 460 workers were left jobless when the Dublin department store went into liquidation last week.

In a statement Natrium says that it plans to to “significantly invest” in the rejuvenation of the Clerys building and adjacent properties.

The company said: “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.

“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.

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

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.”

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