Gaiety Centre

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      MB OMaoileoin

      Gaiety to grow a new fashion wing

      DEMONSTRATING the strength of the Irish retail market, a planning application for a new €75m fashion destination has just been lodged for the former Eircom offices at the Gaiety Centre in Dublin 2.

      The landmark Gaiety Centre close to St. Stephen’s Green on South King Street was purchased last December by tender for €32.5m by Joe O’Reilly of Castlethorn Construction.

      Since then a number of leading retailers including Selfridges and Harvey Nichols have assessed the site which occupies a high profile position opposite the St. Stephen’s Green Centre.

      Subject to permission, the architects A&D Wejchert will make best use of the extensive street frontage to include a glass 10 meter high (two storeys) and 56 meter wide elevation onto South King Street.

      Each of the four floors will comprise 1,394 sq.m. which is very large by Grafton Street standards and innovative glazed scheme will also contain a roof top restaurant of 650 sq.m. with views over the city centre.

      The new development will deliver modern shop units with very large floor plates which is something much sought after by UK multiples who have been restricted in store sizes in and around Grafton Street.

      Harrington Bannon are the appointed agents and are seeking a department store or another large anchor as well as a selection of separate fashion outlets.

      Rent for zone A (first six meters) ground floor is €4,440 psm breaking back to €1,300 psm further back the store.

      The basement and first floor will cost €546 psm while the second floor is priced at €410 psm. Built in the early 1980s by London and Leeds insurance company, the Gaiety provided office accommodation for Eircom since 1984. The former state company has moved to Central Park in Sandyford.

      Meanwhile, the nearby Gaiety Theatre will be closed until the end of June while its receives its most ambitious restoration programme since 1995.

      Owned by Denis and Caroline Desmond, auditorium improvements include new style seating, additional wheelchair accessible seats, complete redecoration and air conditioning.

      Cliodhna O’Donoghue
      The Irish Independent

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