Street Retail The Lisney agency is to seek a tenant for the former Gymboree store on Dublin's Grafton Street following the decision by the US children's clothes retailer to close all its outlets in Britain and Ireland.

After buying in the lease from Gymboree, the landlord is now seeking a rent of €500,000 for the building which has a floor area of 418 sq m (4,500 sq ft) including 111 sq m (1,200 sq ft) at street level and around the same space in the basement. Unusually, key money will not be sought.

However, the landlord, who recently bought the store from Dublin's former city sheriff Mr Michael Hayes, will be earning significantly more than the old rent of €305,000 per annum.