Makeover for Orpen masterpiece on Grafton Street
Former cinema designed by painter’s brother for revamp as retail space
72 Grafton Street, Dublin: opened as a cinema on April 11th, 1911, and continued to do business for more than 60 years until the building was converted for retail use.
IPUT, the largest unlisted property vehicle in the State, has embarked on a substantial reconfiguration of 72 Grafton Street to enhance and enlarge its shopping facilities but more particularly to highlight a stunning curved vaulted ceiling at first-floor level with unique geometric faceting.
Originally known as the Grafton Picture House, it opened as a cinema on April 11th, 1911, and continued to do business for more than 60 years until the building was substantially rebuilt and converted for retail use once the street had been pedestrianised.
IPUT is now spending an estimated €1.75 million on the latest redevelopment, which will create 8,361sq m (9,000sq ft) of retail space over three floors and include a double-height feature entrance and a seven- metre-wide fully glazed shop front.
RetailersThere are any number of international fashion traders looking for attractive, spacious premises on the street. Number 72 is expected to attract a rent of more than €800,000 once it is ready in the autumn. IPUT acquired the building in 2014 as part of a portfolio of investment properties from Bank of Ireland Staff Pensions Fund.
Michael Clarke, head of investments at IPUT, said the consideration they had given to the building’s redesign and the investment they were making reflected its unique character and their determination to create an international standard flagship store in Dublin’s strongest retailing location.
This was coinciding with intense interest and letting activity involving global retail brands seeking representation on the street, he said.
Stephen Murray of JLL will be handling the letting of the building which is expected to be ready for occupancy next September.