TGI FRIDAY’S, the American-style casual dining chain, is to open a new restaurant in part of the former Bewley’s cafe off Westmoreland Street in Dublin 2.
Although the famous Bewley’s cafe fronted on to Westmoreland Street, it is understood that TGI Friday’s will have its main access from a side entrance on Fleet Street.
The new business will have a floor area of more than 464sq m (5,000sq ft), much of it in the Fleet Room which features 100- year-old stained glass windows believed to be the work of the father of artist Harry Clarke.
The location of the new restaurant at the entrance to Temple Bar could give it a considerable edge over the many food outlets in the area.
The TGI chain, which is run by brothers Colum and Ciarán Butler, already operates four other successful restaurants – at St Stephen’s Green, Dundrum, Blanchardstown and Airside in Swords.
The brothers also have a stake in the Starbucks franchise and recently opened a coffee shop on the opposite side of Westmoreland Street. It is located in the former EBS headquarters which had been boarded up almost for nine years.
Starbucks is understood to be paying a rent of about €80,000 as well as more than 10 per cent of turnover for the 371sq m (4,000sq ft) unit.
The Butlers are leasing the new TGI premises from Windward Management, a company specialising in the management of hotels.
One of Windward’s owners is Patrick Coyle, who is also involved in the Gresham Hotel Group.
Windward is refurbishing the former Bewley’s Hotel – now known as the Fleet Street Hotel – which has 71 bedrooms and planning permission for a further 30.
The complex was bought towards the end of last year for about €10 million – a long way from the €26 million paid for it in 2007 by a trading syndicate funded by AIB and headed by Simon Kelly, Col Campbell and Rory Donohoe.
The new owners have reopened a bar on Westmoreland Street and have yet to upgrade the remaining areas of the original cafe, a basement nightclub and the upper floors formerly used by the Dublin School of English.
Bewley’s had been in business on Westmoreland Street from 1896 and on Fleet Street since 1905. The buildings are substantially freehold with the exception of a part of the Westmoreland Street premises, which accounts for about 8 per cent of the overall floor area. It is rented under a 25- year lease at €170,000 per annum.
