THE UK women's fashion retailer, Wallis, has paid a premium of around £45,000 for the leasehold interest of a shop occupied by Hughes & Hughes, newsagents and booksellers, at 12 Cruises Street Limerick. The 3,500-square-foot shop is rented at £56,000 per annum. Wallis, which is part of the Sears Group, will be able to claim double rent allowances and a remission of rates because the shop is located in a tax designated area. Hughes & Hughes was one of the first retailers to move into Cruises Street. The company's other shops are located in the Dublin area.

Hamilton Osborne King acted for Hughes & Hughes. College Properties represented Wallis.