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Starbucks Open a Further Two Stores

Bannon have recently let two units to Starbucks, the American coffee chain, namely at no. 8 North Earl Street, Dublin 1 and the Marshes Shopping Centre, Dundalk which was acquired by Kenny Wilson earlier this month.

Starbucks have taken the ground and basement of 8 North Earl Street under a sub-lease with 7 years unexpired lease term from Carphone Warehouse. The unit measures 129.5 sq.m with a ground floor retail area of 72.5 sq.m, Starbucks are believed to be paying a rent of €70,000 per annum with a minimal limited rent free period provided.

Starbucks have also agreed to take a unit at Marshes Shopping Centre, Dundalk which is understood to be a 20 year lease for 1,800 sq.ft at a rent of €60,000 p.a.

Daniel McLaughlin of Bannon who dealt with the lettings commented “there were a number of offers from established retailers for the property given the profile and high levels of passing footfall. We are witnessing demand for well-located city centre properties which far outstrips the availability currently within the market.  We see this trend continuing for the foreseeable future as consumer spends recovers coupled with a lack of new stock being redeveloped.”