The owners of Carrolls Irish Gifts have seen off competing bids from a number of Irish and international investors, and acquired their premises at No 44 Henry Street in Dublin city centre. Having occupied the property under a single 35-year full repairing and insuring (FRI) lease since April 1995, the company has secured ownership of the property for €4.15 million. The figure represents a slight premium on the €4 million price that had been guided by agent Colliers when it put the building up for sale in January. Carrolls Irish Gifts had been paying a rent of €362,000 a year before its acquisition of the property, and its lease, which had been due to expire in April 2030, was subject to upward-only rent reviews. Number 44 Henry Street extends to a net internal area of 396sq m (4,263sq ft) in total and comes with independent access to the upper floors from O’Connell Street, as well as rear access via Sampsons Lane.The subject property occupies a high-profile position on Henry Street and sits close to key occupiers including Arnotts, JD Sports, Next, River Island, Mango, Schuh, Levi’s, Dubray and Foot Locker. Sports Direct and Zara are due to open new flagship stores in the former Debenhams department store site. Danish retailer Normal recently opened its first Irish store in the Ilac shopping centre.Established in 1982, Carrolls is one of Ireland’s most successful retailers, operating more than 20 stores in city-centre locations nationwide and employing more than 400 staff across that network and in its global ecommerce business.Stephen Murray of JLL advised Carrolls Irish Gifts on its purchase of 44 Henry Street while Michele McGarry of Colliers handled the sale on behalf of the vendor.McGarry said: “This sale highlights the continued depth of demand for prime retail assets in Dublin city centre, particularly those underpinned by strong tenant covenants and high footfall locations”.