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Man Utd's €520k rent on shut store

MANCHESTER United is still forking out €520,000 on rent on its Dublin store 13 years after it shut its doors.

The club has been paying the massive rent bill under the 15-year lease it took out on most of the landmark Lafayette building at the junction of Westmoreland Street and D'Olier Street.

The store was launched with an elaborate street party in 2000 but the business folded two years later.

That lease will finally expire in 2015, but the club will still have to fork out a further penalty of €390,000 – the equivalent of nine months' rent – to finally end the leasing arrangement with Treasury Holdings, the property company headed by Johnny Ronan and Richard Barrett which is now insolvent.

Manchester United's final rental bill of almost €8.2m, as well as what it paid in rates, will be more than double the asking price for the 19th-century building when it is put up for sale this week on the instructions of a receiver appointed by Bank of Scotland Ireland.


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