Premium Irish retailer acquires Dublin city centre building for €2m

In a rare piece of good news for Dublin city centre’s embattled retail sector, 12 Wicklow Street looks set to be brought back into use notwithstanding the ongoing impact of coronavirus.

Having lain vacant since the pre-pandemic departure of UK retailer Joules, the property has been acquired in an off-market transaction for just over €2 million by a premium Irish retailer.

The purchaser intends to commence trading from the ground floor and basement of the property in due course.

The entire building, which extends to 304sq m (3,272sq ft), was occupied previously by Joules and prior to that by Lacoste. The upper floors are currently occupied by two service occupiers.

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Stephen McCarthy of Savills, who represented the vendor, said: “The sale represents a strong vote of confidence for the Dublin city centre retail sector and the wider commercial sales market at a time of unprecedented challenge.”

Nigel Kingston of Colliers International represented the purchaser.