Spar Millennium Walkway premises sold for €5m
Spar Millennium Walkway has a new landlord, following the completion of a €5m deal in which an overseas investor puchased the ground floor unit that houses the high profile store.
9 July 2019 | 0
An overseas investor has paid nearly €5m for the premises trrading as Spar Millennium Walkway, the flagship store on the corner of Upper Abbey Street in the heart of Dublin’s north inner city.
The 6,800sq ft premises, which recently underwent a major revamp, went on the market last year with a guide price of €5.2m, before the joint agents Coldwell Banker Estates and Mervyn Feely and Associates reduced it to €4.95m. The ground floor unit generates a passing rent of €392,575 which is guaranteed by the tenant’s parent company BWG Foods
A spokesperson for BWG told ShelfLife that neither it nor Triode Newhill, its subsidiary to which the retail space is leased, were privy to the terms of the deal before it was completed, and that no operational or practical changes will take place in the store as a result of the new ownership of the building.
The Millennium Walkway is a link on a tourist and shopping trail which connects the western end of Temple Bar through the Millennium footbridge and Quartier Bloom to Jervis Street shopping centre, Henry Street and the GPO. New hotels and aparthotels are also being developed around this area of Abbey Street.