A BUSINESSMAN has paid about £1.2 million for a store which is to be occupied by a BHS franchisee at Market Cross Shopping Centre, Kilkenny. The company will be paying a rent of £95,000 per annum for the 7,400-square-foot store at street level. It will also have 1,200 square feet of storage space. The BHS trader has an option to break the lease around the fourth year. The new owner will earn a return of about 7.5 per cent on the investment, as well as a valuable tax shelter. The shop was sold by the landlord, Town and County Developments. The same developer has also received in the region of £350,000 for a 950-square-foot gift shop at first floor level, which is rented at £28,500 per annum. Town and County is still looking for tenants for 13,000 square feet at the Kilkenny centre, where the anchor tenants are Superquinn, Penneys and Blarney Woolen Mills. The promoters are expected to mount a vigorous campaign to rent the remaining space because the double rent allowances are only available to tenants which move in before the end of July.