Welcome to the Origin Capital Weekly Irish Property Review. This update is designed to provide you with a full recap of the latest property news from the media over the last seven days.
PURPOSE BUILT STUDENT ACCOMMODATION
Stillorgan, Co. Dublin Colliers has brought a 32-bedspace PBSA scheme at 409 Stillorgan Road to the market on behalf of builder Durkan, seeking €5.7m. Developed in 2019 on the N11 just 2.2km from UCD’s Belfield campus, the four-storey, A3-rated property extends to 9,201 sq. ft and features fully furnished bedrooms, communal kitchens, a private courtyard, laundry facilities, CCTV, and parking. Fully operational with strong year-round occupancy, the asset generates a gross annual income of €473,000 and a net operating income of €373,000, representing a capital value of approx. €178,000 per bedspace and a NIY of 6.26% after standard purchaser’s costs of 4.46%. The Irish Times, 4th November
For lending terms on this asset please contact rossmetcalfe@origincapital.ie
OFFICE
Portfolio Sale, Dublin, Kildare & Cork Fine Grain Property has brought three office assets totalling €43.8m to the market as part of a strategy to return capital to investors and fuel its target of expanding assets under management from €300m to €600m. The largest asset is 1 Waterside at Waterside Innovation Campus in Citywest, Dublin 24, guided by Savills at €22.5m; the four-storey building is fully let to Fidelity Investments on a 20-year lease from May 2013 at €1.72m per annum. In Kildare, Avison Young is guiding €15m for the fully let 67,533 sq. ft Block C / Campus Atrium at Maynooth Business Campus, producing €1.42m annually across tenants Glenveagh Properties, ASML, and BCM Global for an NIY of 8.63%. In Munster, Savills is guiding €6.3m for Building 5200 Cork Airport Business Park, a multi-let asset generating €557,401 per annum from Aviva, Aon, Genesis Automation, and Clear Insurance. The Business Post, 5th November
For lending terms on these assets please contact rossmetcalfe@origincapital.ie
Townsend Street, Dublin 2 US technology giant Workday has appointed Cushman & Wakefield to offer 140,000 sq. ft across three floors of its new 416,000 sq. ft European headquarters at College Square via flexible sublease. The available space comprises floors two, three, and four—each measuring approx. 46,600 sq. ft—available together or individually. Floors three and four feature a fully fitted plug-and-play spec with roughly 460 workstations per floor alongside conference and cafeteria spaces, while the second floor is offered in CAT A condition with rent-free incentives. Developed by Marlet Property Group and M&G Investments, the 22-storey, LEED Platinum mixed-use tower is situated within walking distance of Grafton Street and adjacent to Luas Green Line stops. The Irish Times, 4th November
Lower Leeson Street, Dublin 2 Colliers is guiding €1.9m for 72 Lower Leeson Street, a fully let four-storey over-basement mid-terrace Georgian office investment. Extending to a NIA of 3,336 sq. ft, the period property features original cornicing, sash windows, fireplaces, and timber flooring. The building is leased in its entirety to law firm Michael Boylan Litigation on a new 10-year lease from July 2026 at a passing rent of €120,000 per annum, reflecting an NIY of 5.76% after standard purchaser’s costs. The lease incorporates CPI-linked rent reviews and a tenant break option in July 2031. The Irish Times, 4th November
Sandyford, Co. Dublin Dún Laoghaire-Rathdown County Council has refused retention permission for 17,077 sq. ft of office space and film production facilities at the Irish Management Institute (“IMI”) campus in Sandyford. Owned by the Business Post Group—which acquired the IMI operating entity from University College Cork (UCC) while UCC retained the 12.85-acre site—the educational campus currently houses offices for the Business Post and market research firm Red C. The Council ruled that the office use materially contravened the site’s zoning, which caps office accommodation at 2,150 sq. ft. A spokesman confirmed the decision is being appealed to An Coimisiún Pleanála (“ACP”), coming amid ongoing negotiations by the Land Development Agency to acquire the €21m-valued campus from UCC for potential residential development. The Independent, 4th November
Retail
Paddy Power Portfolio, Dublin Flutter Entertainment, the parent company of Paddy Power, has initiated a widespread planning review across its Irish retail portfolio after new licensing regulations introduced by the Gambling Regulatory Authority of Ireland (GRAI) revealed historical planning gaps in long-standing stores. Paddy Power Betfair PLC has submitted Section 5 exempted development applications across Dublin City Council, Fingal County Council and South Dublin County Council for stores in areas including Finglas, Baldoyle, Swords, Crumlin, Ballyfermot, South Circular Road, Artane, and Tallaght—some of which have operated for nearly 40 years without definitive planning records. While Irish planning law bars enforcement action against unauthorised developments after seven years, local planners noted this does not confer formal planning authorisation, indicating retention permission may be required as GRAI requires operators to submit site maps, planning documentation, and compliance certificates for premises licensing. The Business Post, 5th November
HOSPITALITY
Village at Lyons, Co. Kildare Independent Irish hospitality group Ardan Collective is on the verge of acquiring the Village at Lyons resort, which was brought to the market for €20m in March. Situated on a 20-acre site along the Grand Canal, the restored estate features 47 bedrooms across apartments, lodges, and cottages alongside a 120-seat restaurant, bar, pub, spa, and event space, having been owned by Barry O’Callaghan since 2016. The prospective acquisition follows Ardan Collective’s recent purchase of the 21-bedroom Castle Arch Hotel in Trim, Co Meath, from the Cusack family, adding to a expanding portfolio that includes the Marine Hotel in Sutton (acquired for c. €10m), Bellinter House in Co Meath, and BrookLodge in Co Wicklow, bringing the group’s collection to 15 properties across Ireland and the UK. The Sunday Times, 8th Novemberr
RESIDENTIAL / DEVELOPMENT
Cappogue, Dublin 11 Joint agents Savills and CBRE have brought a 68.58 acre landbank at Abbotstown Business Park to the market with a guide price of €32.5m. Fronting the M50 motorway, the subject site is surrounded by a number of established logistics and business parks, including North City Business Park, Dublin Airport Logistics Park and Horizon Logistics Park, and is convenient to Dublin Airport, Dublin Port and the wider national motorway network. The holding previously changed hands for less than €6m in 2013 before being sold to international investors for over €13m in 2021. Zoned for General Employment under the Fingal Development Plan 2023–2029, the site carries a positive planning history—having previously secured approval for 27 buildings, 819,294 sq. ft mixed-use industrial and logistics park scheme—and offers investors and developers a large-scale commercial development opportunity in an established industrial hub. The Irish Times, 4th November
Santry, Dublin 9 Savills is guiding €6m for a 0.59-acre development site on Church Lane in Santry with full planning permission for a 221-bed scheme. Located close to the Swords Road and within easy reach of Dublin City University, St Patrick’s, and Technological University Dublin, the property represents a price reduction from the €7.5m quoted when it previously entered the market. The site currently comprises three existing buildings totalling 15,888 sq. ft set for demolition, offering developers an efficient, shovel-ready opportunity to address Dublin’s severe student bed shortfall with potential for off-season short-stay income. The Independent, 5th November
Loughlinstown, Dublin 18 Joint agents Artis and Sherry FitzGerald Commercial are seeking expressions of interest for a 4.9-acre senior living and healthcare development site on Wyattville Road, adjoined to St Laurence College. Developed by Clopen Capital under its 11 Senior Living brand with an estimated gross development value of €115m, the Douglas Wallace Architects-designed scheme carries full planning permission from ACP for 119 assisted-living homes and a 180-bed transitional care unit. Transaction options include an outright sale, forward funding, operator proposals, or development partnerships for the project, which features landscaped grounds, resident amenities, updated sports facilities for the neighbouring school, and strategic road access to the N11/M50 near major south Dublin hospitals. The Irish Times, 4th November
Kinsale Road, Cork Developer Motor Services Ltd (MSL Group) has appealed to ACP following Cork City Council’s refusal of planning permission for a revised drive-thru scheme featuring a Costa Coffee and KFC at Turner’s Cross Retail Park (formerly Kinsale Road Retail Park). City planners originally rejected the proposal on the grounds that the car-oriented development prioritised vehicle movements over pedestrian and bicycle access, conflicting with sustainable transport goals along the Old Kinsale Road. Represented by planning agents JSA Planning, MSL Group argues that drive-thru facilities are compatible with established commercial sites—citing ACP’s 2024 decision to allow a Costa drive-thru at Bray Retail Park—and has submitted revised landscaping plans incorporating direct pedestrian connections to nearby developments, including the 609-home Creamfields scheme. The Examiner, 2nd November
Swords, Co. Dublin Glenveagh is set to acquire a 35-acre site in Mooretown, Swords, from Fingal County Council for €10.5m to deliver 360 social and affordable homes under phase two of the Baile na Móna development. Supported by over €70m in government funding, the mixed-tenure scheme will feature 249 affordable two- and three-bedroom homes (with prices starting at €335,000 and €375,000 respectively) alongside 111 social housing units. Selected through a local authority procurement process for the council-owned land located 2km from Swords main street, Glenveagh’s acquisition awaits formal ratification by councillors following the ongoing delivery of 274 homes in the project’s first phase. The Sunday Independent, 8th November
Ballymun, Dublin 11 The LDA has lodged a large-scale residential development planning application for a 564-unit apartment scheme adjacent to the proposed Ballymun MetroLink station. Designed across three blocks ranging in height from six to 12 storeys, the proposed housing mix includes 91 studios, 190 one-bedroom, and 283 two-bedroom homes. The master plan also features a ground-floor childcare facility with an external play area, four community/cultural spaces, landscaped public parks, 1,100 bicycle spaces, and a mobility hub incorporating 177 car parking spaces. Subject to planning approval, the state agency targets commencing construction on the high-density residential project in the first half of 2028. The Business Post, 6th November
Dunboyne, Co. Meath Dublin Airport Authority (“DAA”) has warned Meath County Council that new plans to unlock housing development risk damaging its ability to hit noise mitigation targets set by regulators. In a submission, DAA raised concerns over the local authority’s move to rezone lands at Dunboyne for new residential development – a decision taken as part of a variation to the Meath County development plan which is being implemented to meet new housing requirements set by the government. DAA said it had “no objection in principle” to the council’s rezoning proposal for Dunboyne but noted that the lands in question fall within designated noise zones set down by the Aircraft Noise Competent Authority, an independent body within Fingal County Council that oversees the management of aircraft noise at Dublin Airport. DAA said rezoning the lands in Dunboyne creates the “potential for conflict” with its noise mitigation objectives and called on the council to factor this into its final decision. DAA’s submission was one of 79 sent to Meath County Council as part of a variation the local authority made to its existing county development plan following new housing guidelines set by the government. The Business Post, 9th November
OTHER
Poolbeg West, Dublin 4 Ronan Group, alongside joint venture partners Lioncor and Oaktree, is seeking ministerial support for a proposed €55m innovation hub featuring wet-labs, robotics manufacturing laboratories, and a “live testbed” for drone delivery and air taxi services adjacent to the 4,000-home Glass Bottle development in Poolbeg West. However, Department of Higher Education officials advised Minister James Lawless against recommending the project due to undeveloped costings and a lack of evidence of higher education institution participation or engagement with the Irish Aviation Authority regarding air testing. While Minister for Enterprise Peter Burke previously expressed interest in the concept in 2025, Enterprise Ireland confirmed it is not involved in funding or HQ co-location negotiations, though the Ronan Group remains committed to advancing detailed planning and academic partnerships. The Irish Times, 6th November