19th May (Issue 547)
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.
RETAIL
Clonshaugh Road, Dublin 17 CBRE is seeking offers in excess of €5.3m for a sale-and-leaseback retail investment in north Dublin. The property, which is occupied by homeware and DIY brand The Range, offers a buyer the opportunity to secure a NIY of 6.75% and at least 15 years of guaranteed rental income. Located on Clonshaugh Road, the investment, a 32,000 sq. ft store on a 2.5-acre site, is part of a wider portfolio comprising 10 stores distributed across England, Wales, Northern Ireland and the Republic of Ireland. The Range will provide a 15-year lease term with no break options and built-in growth with five-yearly CPI-linked rent reviews (1-3%). The Clonshaugh Road property is currently generating €392,220 in annual rental income, which equates to €12 psf. The Irish Times, 13th May
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HOSPITALITY
Youghal, Co. Cork Clancy’s Bar & Restaurant, a well-known landmark in Youghal’s hospitality scene, has been launched to market with a guide price of €945,000 through Sherry FitzGerald Hennessy. Occupying a prime coastal spot by the scenic Front Strand and close to the eastern terminus of the 23km Midleton to Youghal Greenway, the 2,264 sq. ft property on 0.79 acres includes a ground-floor bar and restaurant with panoramic sea views, a lower ground-floor function room and commercial kitchen, and a large beer garden. The business has a strong food offering and can seat 160 customers in its restaurant, while the private function room can accommodate up to 110 guests. The Irish Examiner, 13th May
Lisdoonvarna, Co. Clare Two Clare hoteliers have made a significant expansion to their business with the acquiring of a 113-bedroom hotel on the Wild Atlantic Way. John Burke and Gerry Quin, the team behind the Fiddle and Bow collection, have recently added the well-known Hydro Hotel in Lisdoonvarna to their portfolios. John, who also owns the Armada Hotel and the Armada House, shared the news through social media. In July 2025, 171 Ukrainian refugees were relocated from the West Clare hotel as their contact with the State ended. The hotel had been listed for sale through Savills at €4.75m before it was purchased by the Fiddle and Bow collection. The Irish Independent, 18th May
Clonliffe Road, Dublin 3 Hotel group Dalata has opened its latest Maldron property, with the Maldron Hotel Croke Park officially opening its doors. The property is the company’s 21st hotel in Dublin, and expands the Maldron brand’s presence in Ireland. It brings to 27 the number of hotels operated by the brand in Ireland and the UK. The hotel is located directly opposite Croke Park Stadium at the junction of Clonliffe Road and Jones’ Road, and offers 200 guest rooms, four meeting rooms, a bar and a restaurant. Dalata’s development partners on the project were McAleer & Rushe, which also worked on the Croke Park Hotel for the GAA 20 years ago. The Irish Times, 14th May
OFFICE
Sandwith Street Upper, Dublin 2 Hoteliers Paul and Charles O’Callaghan have secured flexible workspace provider Iconic Offices as occupier for Sandwith Court. The building, which served for many years as the Dublin headquarters of KBC Bank before its exit from the Irish market, will now be operated by Iconic as a flexible workspace. Colliers negotiated the letting of the 65,000 sq. ft property to Iconic Offices on behalf of the landlord, Sandwith Property Unlimited Company. The O’Callaghans’ deal with Iconic Offices comes just four months after their boutique hotel group, The O’Callaghan Collection, paid €12.5m for Montague Court, a 1970s office building off Harcourt Street primed for redevelopment. The price paid represented a discount of about 9% on the €13.2m which had been guided for the property. The Irish Times, 13th May
Hatch Street, Dublin 2 Colliers is guiding €2.5m for numbers 24 and 25 Hatch Street, two interconnecting Georgian buildings. The subject properties are being offered to the market with full vacant possession. Extending to a total area of 5,750 sq. ft, they comprise two mid-terrace, three-storey over-basement buildings of 5,000 sq. ft, together with a two-storey mews of 750 sq. ft to the rear of number 25. The properties are being offered for sale with six parking spaces, accessed via Hatch Place. The self-contained rear mews provides additional flexibility and potential for a variety of uses. The buildings are zoned ‘Z8 – Georgian Conservation Area’ which allows for a range of potential uses, including office, residential, educational and medical (subject to planning permission). The Irish Times, 13th May
Baggot Street, Dublin 2 Project management and cost management consultancy GagaMuller is to establish its headquarters at 76 Baggot Street in Dublin after signing up to rent a full floor extending to 8,048 sq. ft. GagaMuller will employ 70 people at the Dublin office which is close to the Grand Canal. Its new office space can accommodate 80 desks, allowing for the firm’s expansion over the next 12 months as it extends its services to the European and US markets. Property agent JLL organised the Baggot St letting which related to a fully refurbished floor with new boardroom, three meeting rooms, breakout areas and upgraded IT infrastructure. Located within Dublin’s traditional central business district, 76 Baggot Street’s other tenants include Fitbit, Elkstone and BHSM. The Irish Independent, 14th May
Donnybrook, Dublin 4 Colliers has completed the sale of The Warehouse in Donnybrook for its full asking price of €2m following what the agent described as a highly competitive sales process driven largely by owner-occupier demand. The own-door office property attracted significant interest from businesses seeking a headquarters building in one of Dublin’s most established commercial and residential districts. The sale is also seen as a further indication that demand for character-led office buildings has remained resilient despite changing workplace patterns and evolving hybrid working arrangements. Colliers said the competitive bidding process demonstrated that occupiers continue to prioritise location, flexibility and immediate usability when acquiring commercial property in Dublin’s core suburban markets. The Business Post, 15th May
Industrial
New Ross, Co. Wexford One of the final remaining industrial development opportunities within the Marshmeadows Industrial Hub has been brought to the market. Extending to about 7.68 acres, the brownfield site is being offered for sale by tender through PN O’Gorman, the guide price is available on application. Positioned close to the N25, the site sits less than 2km from New Ross town centre and approximately 2km from Stokestown Junction. The property is zoned for “Port-Related Activities and Logistics” under the current Draft Development Plan 2022-2028, making it suitable for a range of industrial, transport and logistics-related uses. Existing accommodation on site includes office space extending to approximately 1,507 sq. ft, alongside a 1,625 sq. ft garage and workshop building and a warehouse of some 1,432 sq. ft. The Business Post, 13th May
Ireland Industrial & Logistics Market Report Q1 2026 Industrial take-up reached 431,000 sq. ft. in Q1 2026, down from 586,000 sq. ft. in Q1 2025 but well above Q1 2024 levels of 160,000 sq. ft. Activity remains below the five-year Q1 average of 612,000 sq. ft. While occupier demand remains strong, macroeconomic uncertainty and rising costs are prompting more cautious leasing decisions and longer transaction timelines. The quarter’s largest deal saw Evri lease 92,500 sq. ft. at Airport Business Park, marking its entry into the Irish market. Activity was concentrated in Dublin North and the North-East, supported by large-scale deals, while Dublin South-West recorded lower activity. Increased speculative completions pushed vacancy to around 4%, signalling a shift in market conditions. Prime rents remained stable at €14.50 psf. Investment volumes reached €41m across four transactions, representing 9% of overall turnover. Colliers Ireland Industrial & Logistics Market Report Q1 2026, 14th May
MIXED USE
Longmile Road, Dublin 12 Quantum Property is guiding €2.1m for a mixed use property located at 60A Longmile road. The property extends to 20,500 sq. ft over two floors. The first floor is fully let to two occupiers generating €150,000 pa (7.14% NIY) while the second floor extending to 11,000 sq. ft is vacant and offers significant asset management and reversionary potential. The property is situated on the south side of the Longmile road linking it directly to the Naas road and M50. Quantum Property Press Release 12th May
RESIDENTIAL / DEVELOPMENT
Clonee, Co Meath 4.25 acres, which are zoned for residential use, are being offered to the market by Knight Frank at a guide price of €3.25m. The subject property comprises greenfield lands and sits immediately adjacent to Holsteiner Park which is 2km from Clonee. The lands are zoned A1 Existing Residential under the Meath County Development Plan 2021-2027, the objective of which is “to protect and enhance the amenity and character of existing residential communities”. The Irish Times. 13th May
Cherrywood, Dublin 18 DLR Properties (DLRP) is seeking expressions of interest from developers for a holding of 13.3 acres in Cherrywood. The process for expressions of interest in the site known as Town Centre 3 is being handled by QRE on behalf of DLRP, which is a subsidiary of Dún Laoghaire-Rathdown County Council (“DLRCC”). It is being offered to the market with full planning permission in place for 418 apartments distributed across four blocks ranging in height from two to five storeys. Former approval secured in 2023, provides for the construction of 124 studios, 96 one-bedroom apartments, 81 two-bedroom (three-person) units, and 117 four-person units. A proposed amendment to the planning scheme will allow for up to 1,150 residential units to be developed on the site, along with 559,723 sq. ft of other town-centre-type uses. The Irish Times, 13th May
Prosperous, Co. Kildare Sherry FitzGerald Reilly is guiding €7m for a 13.84-acre site located at Curryhills, Prosperous with planning permission for 93 homes. The planning permission will allow 40 three-bedroom semi-detached houses; five three-bedroom detached houses; six four-bedroom semi-detached houses; four four-bedroom detached houses; 10 two-bedroom semi-detached houses; 14 two-bedroom apartments and 14 one-bedroom apartments as well as a dedicated creche facility. It is accessible through Emerson Road, which connects it to Prosperous village centre located 500m away. The Irish Independent, 14th May
OTHER
Synge Street, Dublin 8 Bannon is guiding €3.75m for the former Christian Brothers’ monastery on Synge Street. The property is located between Grantham Street and South Circular Road. It comprises three main sections including a self-contained three-storey building to the rear. The property extends to a total area of 23,548 sq. ft, excluding a large cellar area and sits on a site of 0.4 acres. The building has 22 bedrooms and several large multifunctional rooms. It has served a variety of uses as well as the monastery including, more recently, as short-term residential accommodation. There are several car spaces in a central courtyard. The property is zoned Z15 under the Dublin City Development Plan 2022-2028. Permissible uses for this zoning include health/medical, residential institution, education, assisted living, sports facility and recreational uses. The Irish Times, 13th May
Cherrywood, Dublin 18 Several US and Canadian ice hockey stars, including former Stanley Cup winners, have emerged as investors in the proposed €250m ice hockey arena for Dublin. The proposed scheme aims to serve as a national hub for winter sports as well as a concert and corporate events venue. It will feature an 8,000-plus capacity arena, expandable to more than 10,500 for big events, and include two Olympic-sized ice rinks. As well as being the State’s first permanent Olympic-standard ice facility, it will also host Dublin’s first professional ice hockey franchise, which aims to compete in the UK league. A planning application for the stadium development, which has the backing of DLRCC, is scheduled to be submitted before the end of July this year. The Irish Times, 13th May
Cork Airport Business Park In Cork Airport Business Park, more than 20,000 sq. ft has been taken up between the sale of 12,000 sq. ft at Building 4600, and the letting of 8,000 sq. ft at Building 2100 to Evumed, who are paying rent in the region of €18psf pa. Knight Frank, who oversaw both deals, did not confirm the sale price of 4600, but it’s understood it was close to the €1.7m guide. The largest building in the park Building 5300, previously occupied by US tech giant IBM is available. The property comprises a modern detached two storey third generation office building with a total gross internal area is 25,115 sq. ft. Internally, the property is fitted to a high standard. Externally the site is landscaped and there is surface car parking. The Irish Examiner, 14th May
Waterford Airport The sod is set to be officially turned on the new €30m construction phase of Waterford Airport. Today’s event will mark a significant milestone in what is planned to be the eventual resumption of commercial flights to and from the southeast of the country. Around 140,000 people passed through Waterford Airport annually during its busiest years but there has not been a regular passenger service at the airport since 2016. The runway will now be lengthened to over 2,200 metres and widened to 45 metres to accommodate large commercial jet aircraft. The series of upgrades will enable the return of commercial passenger services, with a target set of the airport handling upwards of 400,000 passengers annually within three years. The upgrade works are set to be begin immediately following the takeover of the airport by US oil billionaire, Kelcy Warren. RTÉ.ie, 18th May
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