Line-up of tenants battle over Grafton Street
Only four months after opening the Cos fashion store on Dublin’s Wicklow Street, the giant H&M fashion group has emerged as the favourite to put another of its luxury brands, & Other Stories, into the former A|wear shop on Grafton Street. The letting is likely to be confirmed later this month.
The line-up of tenants chasing the three-level floor plates at 26-27 Grafton Street includes American fashion chains Gap, Gant and Anthropologie, UK shoe retailer Schuh, the Spanish Inditex company, Zara Home, German fashion house Hugo Boss, the Irish-based Lifestyle Sports as well as & Other Stories. Some of the companies chasing the premises are understood to have offered at least €50,000 more than the quoted rent of €850,000 per annum.
The five-storey over basement building has the second largest retail area on the street after BT2 – apart from the department stores – with more than 882 sq.m (9,500 sq.ft) at basement, ground and first floor levels. The owners of the building, Aviva Investors, are planning to carry out a major upgrading of the block early next year including the installation of a new façade. In the meantime, the retail area has been let to HMV on a short term lease until next January at a rent which equates to €750,000 per annum. With the three top floors of offices extending to 836 sq.m (9,000 sq.ft) also to benefit from the refurbishment.
