// Sports Direct has reportedly sold its Dublin city centre flagship for around £17.3m
// The premises was formerly occupied by department store Boyers
// Sports Direct purchased the 48,338sq ft property in 2016 for a reported £10.4m
Sports Direct has reportedly sold its flagship in Dublin’s city centre for around €20 million (£17.3 million).
The premises was formerly occupied by department store Boyers, until the Mike Ashley-owned sports retailer purchased the 48,338sq ft property in 2016 for a reported €12 million (£10.4 million).
The property’s sale has only just been completed, according to The Irish Times.
Sports Direct will continue to operate from the property located on North Earl Street as part of the deal.
The retailer will pay the unnamed purchaser an average annual rent of €950,000 (£823,802) for the next 15 years, as of February.
Meanwhile, rent reviews will reportedly take place every five years and Sports Direct will have the option to break the lease after 10 years as long as one year’s notice is given.