Virgin Records have paid over I£500,000 for a Dublin freehold, opening as the biggest record store in Europe later this year.
The store is at 14-18 Aston Quay, on the bank of the Liffey just across from O’Connell Street, and it was sold through Jones Lang Wootton by tender on behalf of liquidators McBirney & Co.
In all the unit totals some 50,000 sq ft, including 30,000 sq ft of retail space on three floors. It is understood to have attracted five tender bids.
Lisney & Sons, who acted for Virgin in the deal, say that although the Aston Quay address would not be regarded as prime, it is certainly a high profile location in an ideal position to draw trade from both sides of the river.
Virgin say that there will be extensive renovation works costing over £1m sterling, with the aim of opening the new store for trade by the year-end.
Ross Jaye, who are Virgin’s retained advisers, say that the plan is to carve out two or three shop units totalling some 4,000 sq ft suitable for letting to fashion retailers, with Virgin occupying the balance as retail and ancillary space.
Lisneys and Ross Jaye will be the letting agents for unit shops.
