Key money of €75,000 sought for Magee’s Wicklow Street shop

Men's clothing retailer Magee is seeking key money of €75,000 for the leasehold interest in its shop at 28 Wicklow Street, Dublin 2. The Donegal-based fashion chain will relocate in March to South Anne Street where it is to rent a double-fronted shop previously occupied by Kitchen Complements.

The Wicklow Street premises has 52sq m (560sq ft) on the ground floor and 37sq m (400sq ft) of retail space on the first floor. The four-storey over-basement building extends to 197 sq m (2120sq ft) and is rented at €75,000 a year. It is held on a 15-year lease from December 2013, with about 13 years remaining on the lease. Dublin City Council expects to collect €14,931 in rates on the building this year.

Magee has been trading on Wicklow Street since 2003. It has agreed a headline rent of €225,000 for Unit 2 at 21-26 South Anne Street which has a floor area of 205sq m (2,206sq ft) at street level and another 150sq m (1,614 sq ft) overhead.