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Sports Direct sells Dublin flagship

Sports Direct has reportedly sold its Dublin city centre flagship for around €20m (£17.3m), just three years after it purchased the property for a reported €12m (£10.4m).

The sale of the 48,338 sq ft property has only recently been completed, The Irish Times has reported.

Under the deal, Sports Direct will continue to occupy the property located on North Earl Street.

The retailer will pay the purchaser, an unnamed investor, an average annual rent of €950,000 (£823,802) for 15 years, as of February this year.

Rent reviews will reportedly take place every five years and the retailer will be given the option to break the lease after 10 years, subject to one year’s notice.

Sport’s Direct bought the retail premises, which was formerly occupied by department store Boyers, in 2016. 

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