Key Takeaways
- • Henderson Park has completed the sale of One Molesworth Street in Dublin 2 to MEAG, the asset manager of Munich Re, in a transaction valued at approximately €110 million.
- • The seven-story prime office and retail property spans approximately 8,350 square meters (89,878 square feet) and occupies a prominent corner position at the intersection of Dawson Street and Molesworth Street in Dublin's central business district.
- • The asset is fully leased with institutional-grade tenants including Barclays, TD Global Finance, Simmons & Simmons, and the Banking & Payments Federation, alongside premium retail anchors including The Ivy Group, Boots, Six by Nico, and Barry's Bootcamp.
- • The property benefits from prime Dublin CBD location with direct access to LUAS Green Line transit at Dawson Street, DART services, and extensive Dublin Bus routes, positioning it near Trinity College, St. Stephen's Green, and Grafton Street.
Summary
Henderson Park, the international private equity real estate firm, has completed the disposition of One Molesworth Street in Dublin 2 to MEAG, the asset management arm of Munich Re, marking a significant transaction in the Dublin prime office market. The deal, valued at approximately €110 million, reflects continued institutional appetite for stabilized, fully-leased real estate assets in European gateway cities.
The property comprises a seven-story mixed-use development totaling approximately 8,350 square meters of prime office and retail space. Its strategic location at the junction of Dawson Street and Molesworth Street places it within Dublin's most coveted commercial district, with immediate proximity to Trinity College, St. Stephen's Green, and Grafton Street. The asset offers multimodal transit connectivity, including direct access to the LUAS Green Line at Dawson Street station, DART rail services, and comprehensive Dublin Bus coverage—amenities that typically command premium valuations in institutional investment markets.
The property's appeal to MEAG is underpinned by its fully leased status and institutional-quality tenant roster. Office space is occupied by anchor tenants including Barclays, TD Global Finance, law firm Simmons & Simmons, and the Banking & Payments Federation, each representing established financial services and professional services operators with credit strength. Ground-floor retail accommodation is anchored by The Ivy Group, Boots, Six by Nico, and Barry's Bootcamp, comprising a diversified retail mix spanning hospitality, pharmacy, dining, and wellness categories.
The transaction reflects MEAG's strategic positioning to meet client investment mandates for core-plus office exposure in prime European markets. Katrin Hupfauer, head of real estate transactions at MEAG, noted that the acquisition aligns with client requirements for investing in stabilized, income-producing office assets. For Henderson Park, the sale represents a successful exit from a fully-leased, Dublin CBD cornerstone asset, consistent with the firm's opportunistic disposition strategy in maturing markets.
The property comprises a seven-story mixed-use development totaling approximately 8,350 square meters of prime office and retail space. Its strategic location at the junction of Dawson Street and Molesworth Street places it within Dublin's most coveted commercial district, with immediate proximity to Trinity College, St. Stephen's Green, and Grafton Street. The asset offers multimodal transit connectivity, including direct access to the LUAS Green Line at Dawson Street station, DART rail services, and comprehensive Dublin Bus coverage—amenities that typically command premium valuations in institutional investment markets.
The property's appeal to MEAG is underpinned by its fully leased status and institutional-quality tenant roster. Office space is occupied by anchor tenants including Barclays, TD Global Finance, law firm Simmons & Simmons, and the Banking & Payments Federation, each representing established financial services and professional services operators with credit strength. Ground-floor retail accommodation is anchored by The Ivy Group, Boots, Six by Nico, and Barry's Bootcamp, comprising a diversified retail mix spanning hospitality, pharmacy, dining, and wellness categories.
The transaction reflects MEAG's strategic positioning to meet client investment mandates for core-plus office exposure in prime European markets. Katrin Hupfauer, head of real estate transactions at MEAG, noted that the acquisition aligns with client requirements for investing in stabilized, income-producing office assets. For Henderson Park, the sale represents a successful exit from a fully-leased, Dublin CBD cornerstone asset, consistent with the firm's opportunistic disposition strategy in maturing markets.
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