Rituals, one of Europe’s fastest growing cosmetics and beauty brands, is to expand its Irish presence with the opening of a new store in Galway city.
The company has chosen a high-profile corner unit at number 48 William Street as its fifth location, and will open for business on September 18th.
Prior to Rituals’ arrival to the premises,it had been let to Compu b at a rent of €80,000 per annum or 4 per cent gross turnover.
Having gone on the market late last year through agent Tony Kernan of Lambert Smith Hampton, the property was acquired by a local investor for in excess of €2 million following a best-bids process. Stephen Murray of JLL acted for the purchaser.
The property, which comprises a ground floor area of 93.2sq m (69.5sq m of which is retail) with three additional upper floors is being let to Rituals under a 15-year lease at a rent of €140,000 per annum. Niall Delmar of JLL acted for the landlord while Anna Gilmartin of Cushman & Wakefield acted for Rituals.
Number 48 William Street occupies a pivotal position within Galway city’s main shopping district. Prominent occupiers in the immediate vicinity include Brown Thomas, Butlers Chocolate Cafe, Eason, Boots, Foot Locker, The Body Shop, AIB, Lifestyle Sports and McCambridge’s while Eyre Square Shopping Centre is also close by.
