Judge sets rent for well-known Donnybrook boutique
Court settles on rent of just over €46,000 a year for Marian Gale fashion store
Marian Gale’s boutique in Donnybrook. Photograph: Dara Mac Donaill
A judge has set the rent for the 1,540 square foot Marian Gale boutique at The Mall, Donnybrook, Dublin, at €30 per square foot or just over €46,000 a year for the top fashion store.
Judge Jacqueline Linnane heard evidence on Wednesday of “comparative valuations” ranging from €20 to €40 per square foot for a 12-year lease agreement which, she was told, had started in January last year.
The Circuit Civil Court had been asked to decide the rent between Marian Gale Limited and Padholme (in receivership) a former real estate company of developer Sean Dunne, which owned The Mall development.
The court has jurisdiction to set rents in situations where landlord and tenant rent agreements for renewed leases cannot be reached by negotiation.
Mr Dunne had given a personal guarantee to cover the interest on a €15 million loan from Ulster Bank to Padholme which was later put into receivership.