The planned revamp of the 30-year-old Frascati Centre in Blackrock, Dublin, will cost around €50 million.

Lodged three weeks ago with Dún Laoghaire-Rathdown County Council, the plan is to extend the centre from 10,000sq m (107,639sq ft) to 16,000sq m (172,222sq ft) of space to let.

This will involve the addition of an extra floor and an extension to front the Blackrock bypass.

The development is one of the first major shopping centre extensions planned since the crash. Frascati Investments 2012 Ltd, a company owned by the Roche family, is behind the proposal.

"Frascati is to be remodelled to accommodate an improved tenant mix focused on the local market with an emphasis on daily shopping uses," said Aiden McDonnell of letting agent Colliers International.