New Edward Square crux as HMV refuses to pay rent

The landlords of Edward Square Shopping Centre have issued High Court proceedings against HMV over unpaid rent, in a row understood to be connected to Dunnes Stores locking entrance doors to the centre.

On September 28, Camiveo Ltd lodged papers in the High Court against HMV Retail Ireland Ltd.

It’s understood that HMV has argued rent should not be payable to their landlord Camiveo for three months during which Dunnes Stores kept its Edward Square entrance shut.

The rent and costs for the three-month period is understood to be in the region of €66,000 – it’s understood the yearly rent on the HMV premises is €220,000.

Footfall to traders on Castle Street and Barrack Lane was down by up to two-thirds when Dunnes locked the doors last June.

Last month, the High Court ordered Dunnes to open the Edward Square doors on foot of an injunction taken by Camiveo – which owns Edward Square and the adjoining Eyre Square Shopping Centre.

The blocking of the key entrance to the shopping complex came after the retail giant lost a Supreme Court battle over unpaid rent in May.

Dunnes Stores appealed an order to pay €1.13m in unpaid rent and service charges to their landlords.

The retailer unsuccessfully argued that Camiveo had not been officially registered as the owner and was not entitled to enforce the lease until that happened.

Camiveo – controlled by Dublin-based investment firm Signature Capital, purchased Edward Square in 2013 for around €27 million and paid around €23m last year for the Eyre Square Centre.