Giant UK pharmacy chain Boot's is to open its first major store in Galway where it is to take over Naughton's premises on Shop Street. It is also its first outlet in the west of Ireland. Boot's has been targeting Shop Street for a considerable time because of its high level of pedestrian traffic. Naughton's has about 9,000 sq ft of retail space at street level and though there are an additional 11,000 sq ft on the first floor, Boot's is expected to trade out of the ground floor only.
Fintan Tierney of agents Lambert Smith Hampton, who advised Boot's, declined to disclose the rent because of a confidentiality agreement between the two parties. However, a store of this size in Shop Street would undoubtedly attract a rent of more than £300,000 per annum. Terry Cunningham of Cunningham Auctioneers acted for Mr Naughton, who is to develop a car-park and a residential complex in the city. Boot's has 28 opened 28 stores in the Republic since it began trading at its first outlet in the Jervis Centre in Dublin at the end of 1996. It plans to open store in all major towns in the Republic over the next few years. Palmer McCormack also acts for Boot's.
