Starbucks to open outlet on College Green

CoffeeShops: The long awaited arrival of Starbucks in Ireland is due to be announced shortly when the coffee chain confirms that its first branch will be at 1 College Green, next to the Bank of Ireland in Dublin, writes Jack Fagan

The high profile location obviously appeals to the American chain which is due to roll out a number of shops in the city this summer.

Agent Palmer McCormack, which is the letting agent for 1 College Green, said it had no comment to make at this stage.

The other locations being studied by Starbucks include the recently opened Dundrum Town Centre, the ground floor of the striking new office building at the top of Harcourt Street and the former Post Office in South Anne Street.

Starbucks will be paying a rent of around €220,000 for 176.5 sq m (1,900 sq ft) on the ground floor and a basement of 148.6 sq m (1,600 sq ft) at College Green.

Cliff Burrows of Starbucks said they were looking forward "to becoming part of this dynamic city with its vibrant café culture".

The retail element of number 1 College Green is owned by Treasury Holdings - like the ground floor and basement of the adjoining building, numbers 3 and 4 (let to Little Caesars at €250,000 per annum) - and number 5 which is rented by Centra at about €220,000 per annum.

The Little Caesar block has been owned for some years by Treasury Holdings but, in an unusual deal with Trinity College, it swopped the upper floors with the college in return for the ground floors and basements of both numbers 1 and 5.

This gave the college six floors of valuable space as well as a financial settlement.

It also allowed the college to avoid a confrontation with the city planners who were obviously concerned that the college's ownership of so many buildings around College Green would restrict retail activity in the heart of the city.

The planners have frequently cited how Trinity College Dublin killed retailing on Pearse Street by acquiring all the buildings along the perimeter of the campus over a lengthy period.