The world renowned retailer and child friendly brand Build-A-Bear Workshop is to open a new store on Dublin's Grafton Street.
The agent Savills Ireland has also revealed their rental details. It will be their third Irish location along with Dundrum Town Centre and Blanchardstown Shopping Centre.
Build-A-Bear Workshop operates over 400 stores globally. The proposed property at 47 Grafton Street is owned by Irish Life and comprises 880 sq. ft. on the ground floor.
The lease has been agreed for a 10-year term, with the rent understood to be in the region of €250,000 per annum according to Business Plus.
This is illustrative of the huge costs associated with leasing properties on the southside's principal shopping avenue.
Grafton Street was just last month found to be the seventeenth most expensive main street in the world to rent on, a study by property agents Cushman & Wakefield revealed.
The street slipped one place in the agency’s latest Main Streets Across the World report, with rents estimated to be an average of $310 per sq ft or €3,024 per sq m per year.
Sarah Coyle of Irish Life told Business Plus: “Build-A-Bear Workshop’s decision to open on Grafton Street highlights the strength of the location as a magnet for world-class brands.
"Positioned alongside Disney and our own Lego store, this new addition will enhance the street’s reputation as a top-tier shopping destination while ensuring the city centre is seen as a truly engaging and family-friendly retail experience.”
Build-A-Bear (gettyimages)
