Big key money for small shop on Grafton Street

Further evidence of the key money available for retail premises in Dublin's Grafton Street was provided this week when the owners of O'Brien's Sandwich Bar paid a premium close to £150,000 for the JWT travel shop. The unit at 34 Grafton Street has only 380 square feet and is rented at £37,000 per annum. The acquisition will bring to 26 the number of fast food outlets run by O'Brien's. Seven of the businesses are located in the UK and one is in Sweden.

Stephen Murray of Jones Lang Wootton acted for O'Brien's and Druker Fanning advised JWT.

Meanwhile, the leasehold interest in the Dunkin' Donuts premises at the junction of Grafton Street and Harry Street is now expected to make well in excess of the guideline premium of £300,000. It is also understood that a large number of traders have tendered for the shop including several who are acknowledged as strong covenants to replace Lyons Irish Holdings. Although there is a long list of fashion traders still looking for shops on Grafton Street, the unit is of particular interest to fast food-operators because it already has an established food use. The building has more than 3,000 square feet on five levels, with 849 square feet on the ground floor. It is rented at £106,000 per annum but the basement is sub-let at £11,000 per annum.