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.
OFFICE
Maynooth, Co. Kildare Having paid approx. €6m to secure ownership of Block C in Maynooth Business Campus in 2019, Fine Grain has instructed Avison Young to find a buyer at a guide price of €15m. At the time of its purchase, approx. 40,000 sq. ft of the building’s 67,532 sq. ft of office space was let to Link Asset Services while the remaining space was in shell-and-core condition. Now known as the Campus Atrium, the property, which was built originally in the early 2000s, has been finished and upgraded to a high standard, and has a B2 Ber rating. The accommodation, which is distributed across three floors, and complemented by 290 surface car-parking spaces, is now fully let and generating annual rental income of €1,423,114 from three tenants. Glenveagh Properties is now the anchor tenant for the majority of the property while the remainder of the space is let to ASML and BCM Global. Should a sale proceed at the €15m guide price, the incoming owner would be in line for a NIY of 8.63%. The Irish Times, 14th October
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Fitzwilliam Street, Dublin 2 A Georgian office building is being offered for sale with a separate mews property to the rear that has planning permission for a one-bedroom apartment. The properties are being marketed together by Norths Property for €2.3m. The main building at No 5 Fitzwilliam Street Upper is a four-storey-over-basement Georgian premises that is currently used as offices. It extends to approx. 3,929 sq. ft, while the mews at 5A Baggot Court adds a further 474 sq. ft. The mews, currently used for storage, has permission for conversion to a one-bedroom apartment. The main building also has potential for conversion to residential use, subject to planning permission. The freehold property is available for sale in one combined lot and is being marketed in turnkey condition. The main building’s accommodation is arranged across the basement, ground floor and three upper levels. The Business Post, 19th October
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Citywest Business Campus, Dublin 24 A fully refurbished office building extending to 23,000 sq. ft has come to the market, with rent available on application. The two-storey property at 3008 Lake Drive extends to 22,957 sq. ft and is being marketed by BNP Paribas Real Estate. The accommodation can be let as a single headquarters building or divided between floors, with floor plates ranging from 5,236 sq. ft to the full 23,000 sq. ft. The building comes with 65 car spaces, with four electric vehicle charging spaces. The property is available immediately. The Business Post, 15th October
31-36 Golden Lane, Dublin 8 KGAL plans to replace a Dublin city-centre office block with a hotel after concluding that neither extending the office nor redeveloping the site for housing would be financially viable. Earlier this month, KGAL’s Irish subsidiary Golden Lane Liffey Limited sought permission from Dublin City Council (“DCC”) to demolish 31-36 Golden Lane and build a new midmarket 225-room hotel beside the Radisson Blu Royal Hotel near South Great George’s Street. KGAL said in its application that several options were explored for the site, which included extending the existing three-storey office from 30,139 sq. ft to 72,118 sq. ft across eight storeys and refurbishing the block into 59 apartments or 160 student beds. It added that demolition of the building and construction of a new hotel was the only viable financial option. KGAL, which manages €15bn of assets globally, acquired 31-36 Golden Lane for €25.5m in 2018 from MM Capital. The latest accounts for Golden Lane Liffey Limited valued the property at €20.1m. The building was pre-let to New Relic on a €1.4m a year, 20-year lease deal in 2017 but has been vacant since the company moved out last year. The Irish Times, 19th October
HOSPITALITY
Rathfarnham, Dublin 16 The Eden House licensed premises and adjoining investment properties at Grange Road are guiding €5m through BDM Property. Included in the sale and adjoining both sides are a Massey funeral home and Paddy Power retail unit, providing combined annual rental income totalling €85,000. The tenants are not affected by the sale. With a total site area of 1.3 acres, its site provides parking for approx. 75 cars. The pub’s site also adjoins the Eden Centre which is a neighbourhood centre with shops and offices. A two-storey over part-basement property, the accommodation extends to circa 9,074 sq. ft and comprises a lounge bar with several rooms including The Drawing Room, The Library, The Garden Room and The Snug. On the first floor, a private self-contained function space, known as The Speakeasy, comes with its own bar. The Irish Independent, 15th October
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Howth, Dublin 13 A fully fitted trading restaurant in Howth has come to the market. CBRE is handling the private treaty sale and is guiding €2.8m. The turnkey restaurant extends to 3,918 sq. ft across two trading floors, catering for around 150 covers. Occupying a prominent trading position on Church Street, a short walk from the harbour, the freehold Howth restaurant enjoys uninterrupted views over St Mary’s Abbey and the harbour. An open kitchen with a large wood-fired oven is located on its first floor. To the front of the building a covered outdoor terrace supports year-round trading. A substantial basement offers scope for additional covers or a bar, subject to the necessary approvals. The Irish Independent, 15th October
For lending terms on this asset please contact rossmetcalfe@origincapital.ie
Ballsbridge, Dublin 4 Plans have been lodged for the construction of a hotel and aparthotel totalling 438 bedrooms opposite Meta’s international headquarters. Renmark Property Holdings Limited applied to DCC for permission to build a 194-bedroom aparthotel and a separate 244-bedroom hotel at No.1 Ballsbridge Park on Merrion Road. Total construction costs are estimated to be in the region of €140m. The proposed buildings will each be ten storeys high and will include licensed restaurants, lounges and public bars. Renmark Property Holdings Limited received planning permission in 2022 to demolish the former Zurich House building on the site and to construct an eight-storey office block. This building has been demolished and the site currently lies vacant. The Business Post, 14th October
INDUSTRIAL
Portlaoise, Co. Laois Iroko is understood to have paid approx. €15m to secure ownership of Ballymacken Logistics Facility for its Iroko Atlas SCPI investment fund. Located just off the N80, the property comprises 177,000 sq. ft of warehouse and office space across four buildings on an 11 acre site. The facility is generating annual rental income of €1.37m from a diverse tenant line-up consisting of Tirlán, Graphic Packaging Ireland, Courts Service and Cool Springs. Approx. 50% of the rental income is derived from Tirlán. The acquisition is Iroko Atlas SCPI’s first industrial portfolio investment in Ireland. The €15m sale price reflects a capital value of approx. €84 psf. Colliers handled the acquisition on behalf of Iroko while Sherry FitzGerald Davitt & Davitt represented the vendor. The Irish Times, 14th October
RETAIL
Grafton Street, Dublin 2 According to a planning application lodged with DCC, DTIL Limited, in care of Lanthorn, is seeking permission to change the use of the ground floor and the basement of 105-106 Grafton Street/16-17 Suffolk Street from financial services to retail. While negotiations are still ongoing, it’s understood the next tenant is likely to be a fashion retailer, in line with many of the street’s existing tenants. The remodelled space is expected to open in Q1 of 2027. The proposed development involves changing the 1,140 sq. ft ground floor and the 818 sq. ft basement to retail use. The plans also include alterations to the ground-floor frontage, such as a recessed entrance door on Suffolk Street, signage on both Grafton Street and Suffolk Street, and changes to the colour of existing window and door frames. The Business Post, 13th October
O’Connell Street, Dublin 1 A new restaurant being planned for Ulster Bank’s former O’Connell Street branch will be barred from operating any takeaway food service. Kingstonway Limited, the new owners of 2-4 O’Connell Street Lower, applied for planning permission to convert the building into a mixed-use restaurant, retail and office development. DCC has now granted the company permission to convert part of the old bank into a restaurant but said it “shall not operate as a takeaway”. The pushback on new takeaway food businesses on O’Connell Street by the council has come as US takeaway brands, including Popeyes, Wingstop, Dave’s Hot Chicken, Wendy’s and Taco Bell, are expanding into the Irish market. The restaurant planned would take up 7,900 sq. ft across the basement, ground and mezzanine levels of the refurbished building, with 10,128 sq. ft of office space on the upper floors. The Irish Times, 16th October
RESIDENTIAL / DEVELOPMENT
Swords, Co. Dublin Rycroft Developments has put an apartment scheme on Swords main street on the market for more than €72m. Lord Mayors, a build-to-rent development, consists of 134 apartments. It also includes a crèche, café, gym and 125 parking spaces. The development was presented to investors by Deloitte, with Dillon Marshall, at the Munich real estate expo earlier this month. The development lies opposite the Pavilions shopping centre. Leasing has already commenced. Rycroft, which was set up in 2017, has developments in Dublin, Kildare and Wicklow. The Sunday Times, 17th October
For lending terms on this asset please contact rossmetcalfe@origincapital.ie
Kilcoole, Co. Wicklow Located just off Lott Lane and within proximity to Glenroe Farm, a 25 acre holding is being offered for sale through Cushman & Wakefield at a guide price of €9m. The subject property is bounded by mature hedgerows and surrounded by existing residential estates. According to the recently decided Variation No. 4 of the Delgany & Kilcoole Local Planning Framework, a total of 16.3 acres of the lands have been designated by Wicklow County Council as a mix of residential development (10.9 acres) and active open space (5.4 acres). The remaining 8.7 acres of the subject holding remains unzoned. A feasibility study prepared by HKR Architects in preparation for the site’s sale suggests the lands have the potential to accommodate approx. 168 homes. The Irish Times, 14th October
OTHER
Q3 Investment Market Commercial property investment totalled €673m across 22 transactions in Q3 2026, bringing year-to-date spend to €2.16bn. This is 34% higher than the same period last year, with turnover already at almost 90% of the 2025 total. However, the number of deals was well below the 10-year quarterly average of 40, and the three largest transactions accounted for over 60% of spend. Excluding these, the average for remaining deals falls to €14m. Living was the most active sector, with €248m invested across six transactions (37% of turnover). This was driven by Quantum Immobilien’s €180m acquisition of Quayside Quarter at Dublin Landings from Greystar, followed by two PBSA sales: Copley Court (€32m) and Stoneybatter Place (€31m). Offices recorded two investment transactions in Q3, totalling €185m (28% of turnover). The largest saw BNY acquire The Shipping Office from Marlet for a reported €160m. This was followed by Inter Gestion REIM’s acquisition of 77 Sir John Rogerson’s Quay from Patrizia for €25m. Industrial & Logistics accounted for 24% of total turnover (€164m) across six transactions. This includes a sale-and-leaseback deal which saw Realty Income Corporation acquiring three units from DSV for €70m. Retail attracted €70m (10% of turnover) across six transactions, including the sale of Citywest Shopping Centre by Ardstone to French SCPI fund Iroko Atlas for €24m. Colliers Quarterly Report, 20th October