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A NEW study of Dublin’s Grafton Street has found that 16 shop units are currently vacant, equating to 2.8 per cent of the overall retail space on the street.

However, rents have fallen heavily from a peak Zone A rate of €9,687 to €10,764 per sq m (€900 to €1,000 per sq ft) in 2006/2007 to €4,305 to € 6,458 per sq m (€400 to €600 per sq ft) in the current market.