The Blanchardstown shopping centre in West Dublin looks set to be bought by global investment bank Goldman Sachs.

The planned deal has been notified to the Competition and Consumer Protection Commission (CCPC).

The Blanchardstown Centre is currently owned by global investment business Blackstone.

In a statement, Goldman Sachs Merchant Banking Division confirmed that, subject to competition clearance, it intends to buy the centre.

The bank described it as an excellent asset in a prime location with a very strong mix of high quality retailers.  

"Our intention is to invest in the refurbishment of the centre to enhance the shopping experience and ensure that it remains as a world-class retail destination," it said.

"We have great confidence in the future prospects of the centre. The current asset management team, led by Pat Nash, will continue in its role providing leasing, development and real estate management services on our behalf."

"Together with the incumbent management team and the tenants, we look forward to welcoming customers into the centre."

The centre is comprised of a portfolio of real estate assets including the Blanchardstown Centre building, two adjacent retail parks and external retail units, as well as a five storey office building.

The CCPC has opened a preliminary phase one investigation into the deal, with submissions from third parties due by November 30.

Last month, Bloomberg reported that the two parties were talking about a potential deal.

Blanchardstown Centre is the largest such facility in the country with over 180 stores, three retail parks and 25 restaurants.

It was bought in 2016 for close to €1 billion, with lenders including Goldman Sachs providing financing.

Many of the retailers who are tenants of the centre have had to close their doors in recent weeks and months due to the impact of Covid-19 restrictions.