UK trader Office Shoes leases shop on Henry Street

Retail: Dublin's Henry Street is to get yet another UK trader

Retail: Dublin's Henry Street is to get yet another UK trader. Office Shoes is believed to have agreed terms for the purchase of the lease of number 6 Henry Street which currently trades as Question, a ladies fashion store run by Paul McGlade.

Davin Auctioneers had been quoting a premium of €500,000 for the shop, which is next to Arnotts and directly opposite Zara. Robert Corrigan of the agency said yesterday he was not in a position at this stage to disclose the price.

The five-storey over basement building is rented at €253,947 per annum with the next rent review due in September 2004. The rent equates to a Zone A rate of €2,400 per sq m (€225 per sq ft), well short of the going rate of €4,305 (€400 per sq ft) set for Clintons Cards shop near near the O'Connell Street end of Henry Street.

The ground floor has retail space of 148.72 sq m (1,600 sq ft) while the first floor has an even larger retail area; there is the option of restoring the basement to retail use. The arrival of Zara has greatly increased the number of shoppers using Henry Street.