Stillorgan shop attracts premium of pounds 100,000-plus

While the new owners of Stillorgan Shopping Centre are still awaiting planning permission to redevelop the complex, shops there…

While the new owners of Stillorgan Shopping Centre are still awaiting planning permission to redevelop the complex, shops there continue to attract good premiums. An Irish menswear clothing group has paid key money of over £100,000 for the Gambit Menswear shop, one of three being sold by menswear manufacturer John Swan Ltd. The Stillorgan shop has 960 sq ft and the rent of £42,000 per annum is due to be reviewed next September. Douglas Newman Good also secured in excess of £80,000 for the Gambit store in the ILAC centre, a unit of 1,271 sq ft which is rented at £72,432. The third store at the Omni Centre has a floor area of 774 sq ft and is rented at £55,000. The premium in this case was around £30,000.

Also in Stillorgan Shopping Centre, mobile phone retailer Person to Person has paid a premium of £70,000 for the Bewley's coffee shop, which has a floor area of 960 sq ft. The rent is also £70,000 per annum. The Bewley's franchise will continue to operate a restaurant at first-floor level.

The owners also bought in the Clearvision shop lease for £80,000 and is about to re-let it to a multiple fashion retailer. Palmer McCormack handled the letting.