Paul Sheeran seeking €5.5m for jewel in company’s crown just off Grafton Street

Having already overseen the opening at the Chatham & King development of a swath of luxury watch boutiques offering brands that include Cartier, Breitling, IWC, Jaeger-LeCoultre and Panerai, Paul Sheeran Jewellers is set to relocate its fine jewellery and diamond business from its original home just off Grafton Street to a larger premises near Chatham Street. Number 7-8 Johnson’s Court is being offered to the market by joint agents Colliers and JLL at a guide price of €5.5 million. The property is alternatively available to let at an annual rent of €275,000.

Commenting on his decision to relocate after 31 years, Mr Sheeran said: “Johnson’s Court provided us with a wonderful home for many years, but the business has evolved now and with that has come the opportunity to elevate and expand even more as we relocate our fine jewellery and diamond business to be closer to our luxury watch emporium on Chatham Street.”

Located on the pedestrianised thoroughfare linking Grafton Street with Clarendon Street, 7-8 Johnson’s Court comprises 4,500sq ft of space distributed across three floors over basement level. While the property would suit an established retail brand looking to take advantage of its close proximity to Grafton Street, the selling agents say it could also accommodate alternative uses such as a restaurant, entertainment venue, or a licensed premises, subject to planning permission. To facilitate that potential, a planning application is now being submitted seeking approval for a change of use to an entertainment/food and beverage venue.

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Niall Delmar of Colliers says: “It’s uncommon for a vacant building so close to Grafton Street to come to the market, especially with both freehold and leasehold options available. This is a valuable opportunity for retailers, food and beverage operators, developers and investors.”