Esat Digifone has created a surprise in the retail market by paying a premium of £375,000 for the former Nicholls store on Henry Street in Dublin. The company, which was represented by DTZ Sherry FitzGerald, has apparently been unhappy with its previous location at the junction of Henry Street and O'Connell Street and is now looking for a premium of £150,000 for that building. The level of key money paid by ESAT is all the more surprising because it comes after Meteor, the third mobile phone operator, acquired the leasehold of the former H Samuel building on Henry Street for £150,000.

Meteor, which is due to launch its mobile phone service on February 22nd, has also acquired a flagship retail unit on the ground floor of Huguenot House, the office block owned by Ballymore. Ganly Walters advises Meteor which will also have outlets in Tallaght, Dun Laoghaire and Patrick Street in Cork.