Frasers Group has acquired the former Debenhams store on Henry Street in Dublin city centre.
The British retail group owns a range of high street brands including Sports Direct, Jack Wills and designer fashion retailer Flannels.
The 200,000 square foot Henry Street outlet is now set to become a Sports Direct flagship store in Dublin.
The former Debenhams city center store, which first went up for sale in August this year, had a guide price of €55m.
The flagship store extends over four floors and is located opposite Arnotts department store. Debenhams closed its Irish retail operation in March 2020.
The store is also accessible from the Ilac Center.
Fashion retailer Zara also currently occupies 20,000 square meters of the Henry Street location under a license with the landlord.
The purchase of Debenhams’ former flagship marks the latest chapter in Frasers Group’s Irish expansion.
The group’s luxury arm Flannels opened its first store in Ireland earlier this month.
The outlet, located in the Blanchardstown Shopping Center, spans 30,000 square meters and stocks items from luxury brands such as Burberry and Balmain.
The group will also be opening a second Flannels store in Clery’s Quarter on O’Connell Street late next year.
“Dublin is a strategic market for the group and that [Henry Street] The location will allow us to expand our presence in Ireland as we continue to grow and execute our height strategy,” said Ger Wright, Frasers sporting managing director.
“This acquisition not only strengthens our commitment to the Irish market, but also demonstrates our commitment to reinventing retail and breathing new life into high streets across the UK and Europe.”
Earlier this month the group reported a 53 per cent year-on-year increase in reported pre-tax profit to £284.6 million in the 26 weeks to October 23.
https://www.independent.ie/business/irish/sports-direct-owner-purchases-former-debenhams-flagship-store-on-dublins-henry-st-42240233.html Sports Direct owner buys former Debenhams flagship store in Dublin’s Henry St