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Henderson Park, the international private equity real estate firm, and MEAG, the asset manager of Munich Re ('MEAG'), today jointly announce the successful completion of the sale and acquisition of One Molesworth Street in Dublin 2, following a competitive sale process.
The iconic seven-storey building provides approximately 8,350 sqm of prime office and retail accommodation, occupying a prominent corner position at Dawson Street and Molesworth Street in Dublin's Central Business District. The property benefits from an unrivalled position within meters of Trinity College, St. Stephen's Green, and Gra �on Street, with direct access to the LUAS Green Line at Dawson Street, DART services, and extensive Dublin Bus routes.
Delivering award-winning contemporary architecture, One Molesworth Street holds LEED Platinum accreditation and features best-in-class specifications including high-quality finishes, efficient column-free floorplates, and an impressive double-height reception.
The property is fully let to an exceptional covenant line-up including Barclays, TD Global Finance, Simmons & Simmons, and the Banking & Payments Federation. Prime retail accommodation anchors the ground floor with occupiers including The Ivy Group, Boots, Six by Nico, and Barry's Bootcamp, all benefiting from exceptional visibility and pedestrian footfall in Dublin's core retail and business district.
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, and we wish them every success with this outstanding asset."
Katrin Hupfauer, Head of Real Estate Transactions, MEAG, commented:
"The purchase is situated in line with our clients' needs of investing in office buildings 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 TransactionManager, 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. We would like to thank the Henderson Park team for their trust and cooperation throughout this process."
JLL acted as the sole selling agent for Henderson Park, A&L Goodbody provided legal advice. CBRE provided commercial advice to MEAG, Matheson provided legal and tax advice and Hollis provided technical advice.
