Penneys has today confirmed plans to relocate its existing store in Dundrum Town Centre to the upper floors of the former House of Fraser site in one of the largest shopping centre lettings in Europe in recent years.

Penneys will invest €14.8m into the new Dundrum store, which will feature 60,000 square feet of retail space - a 64% increase on the current store in the shopping centre.

Work will start on the new store this Autumn and is set to open in early Summer next year, with the company expecting to create a number of additional job opportunities in the relocated larger store.

The current Penneys store will remain open during construction.

Penneys said the Dundrum store expansion reflects its ongoing commitment and investment in Ireland and follows the company's announcement last November to invest over €250m in its Irish business over the next 10 years, creating more than 700 jobs in Ireland over the next three years.

The retailer plans to increase its total selling space in Ireland by an estimated 20% within the next 10 years.

Damien O'Neill, Head of Penneys ROI and NI, said that as as one of Ireland's leading shopping destinations, Dundrum is a really important location for Penneys and very popular with its customers.

"Increasing the size of the store means we can offer a much wider selection right across fashion, beauty and homewares. We have big plans and great ideas around how we bring our unique in-store design to life for our Dundrum customers, and we look forward to opening early next summer," he added.

Connor Owens, Managing Director, Ireland - Hammerson Group Management, said the new store will be one of the brand's biggest retail offerings in Ireland and complements Hammerson's occupier strategy to mix established household retail brands with vibrant customer-led services from entertainment to restaurants.

"The signing of Penneys also demonstrates the value big brands still see in physical space against an ever-evolving retail landscape. This is one of the largest shopping centre lettings in Europe in recent years and is an indication of what is to come in 2022 and beyond with new uses and partnerships at Dundrum Town Centre in the pipeline," Mr Owens added.