Dublin, 20th March 2025 – Colliers is delighted to launch the sale of The Merrion Collection, a prime mixed use investment opportunity located in the heart of Dublin 2.
The portfolio comprises a mix of retail, food and beverage and residential uses across Merrion Row and Merrion Court, presenting investors with a rare opportunity to acquire a high-profile investment opportunity in Dublin’s most sought-after location, just minutes from St Stephen’s Green, Government Buildings and Grafton Street. The immediate surrounding area boasts the highest in quality hotels and restaurants the city has to offer.
The Merrion Collection spans a total floor area of approximately 8,584 sq. ft. and generates a combined existing annual rent of €235,000 from the commercial element, which includes a diverse tenant base such as TOMI House Ltd. trading as Tomi House, Dublet Ltd. trading as the Herbert & Lansdowne Estate Agency, and Kristan Burness & Shybu Varghese operating as the iconic Unicorn restaurant.
The Unicorn restaurant & Wine bar, comprising 2,510 sq. ft. at 12B Merrion Row & 12A-D Merrion Court, is held under a 10 year lease from August 2024, producing €80,000 per annum for the first three years, increasing to €85,000 per annum for years four and five, with open market rent reviews thereafter. The lease allows for a landlord break option in January 2029. The iconic restaurant reopened its doors in 2024 having being closed for some time. The restaurant, terrace and wine bar are a longstanding favourite on the Dublin social scene.
13A Merrion Row, comprising 2,975 sq. ft. with fit out currently underway for what will trade as Tomi House. The lease commenced in September 2024 at a passing rent of €100,000 per annum. Similar to the Unicorn lease there is a landlord break option in January 2029, giving the new owners flexibility to secure full vacant possession of the entire property in 2029 to allow for redevelopment in line with the Planning Permission granted in 2024.
13 Merrion Row comprising 923 sq. ft over ground and first floor, trading as Herbert & Lansdowne Estate Agents, is held under a licence agreement from December 2021 producing €55,000 per annum.
The five residential units located on the first floor of 12A-D Merrion Court have recently been fully refurbished and are being sold with full vacant possession offering the incoming purchaser a blank canvas on the use of the apartments going forward. The estimated rental value on the residential units is in the order of approximately €140,000 per annum, and the units are fully furnished and ready for immediate occupation.
Separately, in October 2024, planning permission was granted for an office-led, mixed-use scheme to include approximately 2,000 sq. ft. of ground-floor retail/restaurant with approximately 11,000 sq. ft. of modern offices across four floors accessed from Merrion Row, together with a bike store for 19 spaces. The planning also includes the refurbishment, restoration and part change of use of existing buildings at 12C and D and 5 Merrion Court from restaurant /residential use to provide three, two-storey townhouses on Merrion Court.
Colliers are guiding €5.5m for the entire.
Michele McGarry who is handling the sale on behalf of Colliers said –
“The sale of The Merrion Collection will no doubt attract strong interest from a variety of buyers. The mix of uses will appeal to buyers seeking a high-quality investment opportunity in this unrivalled location, just minutes from St Stephens Green. The planning permission which was granted in 2024 provides a viable redevelopment opportunity, with office floor plates of approx. 2,700 sq. ft in high demand and extreme limited availability in this prime Central Business District location”.
