Goldman Sachs' deal to buy the Blanchardstown shopping centre in West Dublin has been cleared by the Competition and Consumer Protection Commission (CCPC).

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

Announcing the deal last month, Goldman Sachs Merchant Banking Division described the shopping centre 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," the global investment bank 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.

Blanchardstown Centre has 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.