Henderson Park sells mixed-use asset in Dublin to MEAG

Henderson Park has sold One Molesworth Street in Dublin, Ireland, to MEAG after a competitive bidding process.

One Molesworth Street

This seven-story building, located at the intersection of Dawson Street and Molesworth Street in Dublin's CBD, offers approximately 8,350 m2 of premium office and retail space. Its prime location is just meters from Trinity College, St. Stephen's Green, and Grafton Street. The property also boasts excellent connectivity with direct access to the LUAS Green Line (Dawson Street station), DART services, and numerous Dublin Bus routes.

One Molesworth Street is celebrated for its award-winning contemporary architecture and holds LEED Platinum certification. It features top-tier specifications, including high-quality finishes, efficient column-free floorplates, and an impressive double-height reception area.

The building is fully occupied by a strong roster of tenants, including Barclays, TD Global Finance, Simmons & Simmons, and the Banking & Payments Federation for its office spaces. The ground floor's prime retail units are anchored by popular establishments like The Ivy Group, Boots, Six by Nico, and Barry's Bootcamp, all benefiting from significant visibility and pedestrian traffic in Dublin's central retail and business hub.

Ronan Webster, managing director, Henderson Park, commented: “With its exceptional location, best-in-class sustainability credentials, and a high-quality, long-term tenant base, One Molesworth Street is a testament to the enduring appeal of Dublin's prime office market to institutional buyers. We are pleased to have found in MEAG a buyer that shares our conviction in the long-term fundamentals of prime European offices.”

Katrin Hupfauer, head of Real Estate Transactions, MEAG, stated: “The purchase is in line with our clients’ needs of investing in office buildings situated in European prime locations with the aim of achieving well-calculatable steady cashflows. We consider high-quality office buildings in central locations in European cities with expected long-term demand to be a valuable long-term investment.”

Joseph Mulrooney, senior transaction manager, MEAG, added: “The office building impresses with its excellent location in the traditional CBD of Dublin. We have a strong conviction for anti-cyclical office investments, especially in prime locations and when they have a multi-tenant setup.”

JLL exclusively represented Henderson Park as the selling agent, with A&L Goodbody offering legal counsel. For MEAG, CBRE provided commercial guidance, Matheson handled legal and tax matters, and Hollis offered technical expertise.