Nationwide Sales The HSE has achieved more than double the expected prices for eight properties that it has sold in separate lots around the country at recent auctions. In all, it generated €2.368m from the properties, which compares to the €1.075m that the auctioneers had been guiding to attract buyers. Located across Wicklow, Galway, Mayo, Sligo, Leitrim and Cavan, most of the buildings required revamps, but the strong prices indicate that bidders were likely encouraged by availability of government grants to refurbish or convert them for residential usage. The highest price was achieved for an approx. 4,000 sq. ft building in Castlebar which sold for €515,000, more than double its €225,000 guide price. The Irish Independent, 2nd October
Newlands Cross, Dublin 22 The owners of the Green Isle hotel have quietly put the property on the market for €40m. The Sunday Times understands that the Moran family, owners of the nearby Red Cow Moran hotel, had been in discussions to buy the property. However, talks have stalled. It is understood that discussions are taking place with other potential buyers. The selling agent is Lisney. The 273-bedroom Green Isle has a bar and restaurant, conference rooms and 400 parking spaces. The four-star hotel has more than trebled in size since it was built in 1967 and is now owned by Kilmore Ventures, which is owned by Kilmore Trust. The company, which has a principal activity of operating the Green Isle hotel, had a turnover of €10.4m last year and a pre-tax profit of €3m. It employed 100 people. The Sunday Times, 5th October
Airside Business Park, Co. Dublin Having paid €11m in 2015 to acquire the Premier Inn Dublin Airport Hotel from Nama, Kirkland Investments has instructed Savills and Cushman & Wakefield to sell the property, guiding €33m. Since purchasing the hotel, Kirkland has increased its capacity from 155 rooms to 213 rooms through the construction of a new extension. The figure equates to a NIY of 5.35% and a price per key of €155k. The Hotel is let under a 25-year lease from January 2018 to PI Hotels and Restaurants Ireland Ltd, guaranteed by Whitbread Group plc. The WAULT is approx. 12 years to break. The current passing rent is €1.823m a year and the lease incorporates five-yearly rent reviews linked to the CPI, subject to a 4% annual cap and a 0% collar. The adjoining cafe is let to Esquires Restaurant on a 25-year lease from 2004 and generates a passing rent of €100,000 a year, which is guaranteed by Whitbread Group plc. The hotel generates additional revenue from roof masts, which brings the total rental income for the property to €1.95m a year. The Irish Times, 1st October
Hook Peninsula, Co. Wexford Loftus Hall is in the process of being bought by StarStone Property Group. The property was put on the market by Oakmount in April for €4m, with the asking price cut to €3m in June. Oakmount bought the property for €1.75m in 2022, spending millions on preparatory works to convert the period property into a high-end 22-bedroom boutique hotel. The country house is located on 68 acres. StarStone is controlled by Patrick McDermott, an Irish property developer, and Ben Keith, the owner of betting firm Star Sports. The Business Post, 30th September
Galway City The Victoria Hotel has been granted permission to build a nine-storey extension after an appeal to An Coimisiún Pleanála. The development was originally rejected by Galway City Council out of concern for its environmental impact on the Galway Bay protected area. It is owned by the Byrne Hotel Group, which also owns the Salthill and Eyre Square hotels in Galway, as well as the Albany House Hotel on Harcourt Street in Dublin. Planning permission was first requested for a building with a maximum height of 11 storeys, but the application was amended in November 2023 to include a reduction in the maximum height of the building to nine storeys. Under the amended plans, the number of new bedrooms was also reduced from 109 to 91, leading to a new total of 162 rooms. The Irish Times, 6th October
Churchtown, Dublin 14 Clarendon Properties secured €11.9m from the sale of Nutgrove Retail Centre. While the price paid by Atland Voisin represents only a slight premium on the €11.8m Cushman & Wakefield had been guiding in May, Clarendon had acquired the centre in 2015 along with the mixed-use Beacon South Quarter in nearby Sandyford for a total of €12.8m. The centre extends to 43,659 sq. ft of retail warehouse accommodation along with 200 surface customer car-parking spaces. The total current rent achievable is €842,934 inclusive of top-ups, and the WAULB is six years to break options. The scheme, which is fully occupied, comprises four interconnected retail warehouse units and is anchored by Home Store & More. Each unit comprises open-plan retail warehouse accommodation and ranges in size from 4,179 sq. ft to 28,766 sq. ft. The Irish Times, 1st October
Dundalk, Co Louth Building E in Xerox Technology Park, 4km south of Dundalk town centre is to let. Directly accessible from the M1 motorway and extending to 156,658 sq. ft, Building E is expected to be particularly attractive to energy-intensive users across data, technology and advanced manufacturing sectors owing to its direct connection to the nearby Eirgrid Mullagharlin 110kV substation. Lisney and Savills are guiding €9 psf for Building E which comprises a high specification, detached industrial facility designed for large-scale production and logistics operations. The property has six dock levellers, three grade-level doors, a secure 35m-deep service yard, and warehouse clearance heights of up to 9.5m. The Irish Times, 1st October
Citywest Business Campus, Dublin 24 Harvey and JLL are quoting €17.50 psf for 7 Brownsbarn Drive, a newly developed logistics facility at Citywest Business Campus. Situated just off the N7, the building is available for immediate occupation. The property, which extends to 46,613 sq. ft on a site of 2.54 acres, features three dock levellers, one level-access door, a clear internal height of 12m and a 38m-deep service yard. The property has LEED Gold accreditation and an A2 Ber rating. Citywest Business Campus is located 6.5km from Junction 9 on the M50. In terms of public transport, the campus is served by the Luas Red Line and several Dublin Bus routes. The Irish Times, 1st October
St Stephen’s Green, Dublin 2 IPUT has acquired two office buildings on St Stephen’s Green, adding a combined 43,000 sq. ft to its Dublin city portfolio, for an undisclosed sum. The acquisitions, at 44-45 and 90-91 St. Stephen’s Green, increase IPUT’s portfolio on the square to 100,000 sq. ft across five buildings and bring its total office holdings in Dublin’s central business district to 2.15m sq. ft. Formerly the offices of Ivor Fitzpatrick Solicitors, 44-45 St Stephen’s Green comprises 16,400 sq. ft and occupies a prime corner location on St Stephen’s Green and Hume Street, adjacent to existing IPUT buildings. IPUT has acquired the building with vacant possession and intends to invest in an extensive refurbishment which will deliver five workspaces for its ‘Studio’ workspace brand. Meanwhile, 90-91 St. Stephen’s Green is a four storey over lower ground floor modern second-generation office building with a mid-terrace Georgian façade comprising 26,600 sq. ft. The building, currently occupied by Standard Life, is a dual aspect building with views into both St Stephen’s Green and Iveagh Gardens. In time, 90-91 St. Stephen’s Green will also be used to expand the ‘Studio’ portfolio. Having failed to find a buyer when it was offered for sale for €27m in October 2020, the building returned to the market in 2023 at a lower guide price of €18m. The Business Post, 6th October
Harcourt Street, Dublin 2 HWBC are guiding €13.2m for Montague Court, an office building situated on Montague Street just off Harcourt Street. Refurbished in 1999/2000, it extends to approx. 27,000 sq. ft. The offices are laid out over 3 floors over double height reception with car parking at ground level. There’s also a small mews building within the grounds of the property. The property is fully let and occupied producing a rental income of approximately €1.1245m pa from a strong tenant line up comprising (i) Department of Justice, Home Affairs and Migration, (ii) Romeril Forensic Engineers who occupy the mews building. The Department of Justice leases expire on the 31st May 2030 while the Remeril lease expires 31st May 2028. HWBC Press Release, 3rd October
Dame St, Dublin 2 WeWork has reached 100% occupancy at its flagship Dublin location at Central Plaza, where there are 1,500 desks. A majority of the Central Plaza members are from companies which are expanding and only about 10% came from WeWork’s other Dublin locations. As many as 82% of the desks were taken by businesses taking offices to accommodate more than 50 people. Only 2% of the demand was for offices of less than nine people. WeWork anticipates reaching 70% occupancy across its portfolio by year-end. The Irish Independent, 2nd October
Ballsbridge, Dublin 4 Japanese aviation lessor, Jackson Square Aviation (JSA), has signed a new long-term lease for the second floor of the newly developed Glencar House. The company will occupy 12,000 sq. ft on a 15-year lease term. The company has agreed to pay a rent of €62.50 psf. BNP Paribas Real Estate acted for JSA on the transaction while Cushman & Wakefield acted for the landlord, Killeen Properties. News of the deal comes just three months after BlackRock Asset Management took up occupancy of its new offices in the building at a blended rent of just over €65 psf. Glencar House comprises a total of 75,000 sq. ft of grade-A office accommodation. The Irish Times, 1st October
IFSC, Dublin 1 The planned move by Workday to its new headquarters at College Square has brought space for up to 400 workers to the letting market in the IFSC. Cushman & Wakefield is guiding €53.50 psf for the first, second, third and fifth floors of Dockline, which has served as tenant Workday’s EMEA office since 2022. The Mayor Street office space extends to a total area of 53,085 sq. ft and is being made available to let by way of flexible sublease/assignment from December 2025 to May 2032, with a tenant break option in May 2027. The accommodation is fully fitted plug-and-play, with seating for approximately 400 people. There are 22 basement car parking spaces and these are available for €4,000 per space annually. Known originally as New Century House, the renamed Dockline saw some €22m invested in its refurbishment following Credit Suisse’s €65.3m acquisition of the building from Hibernia Reit in 2018. The Irish Times, 1st October
Enniskerry, Co. Wicklow A 55-acre land bank with potential for residential development is guiding €13m. The land at Kilgarron Hill comprises a greenfield site adjacent to the residential development at Kilgarron Park. The site is on the edge of Enniskerry village, with access onto Glencree Road (L1011) and the R117. Under the Local Area Plan 2018-2024, the site is located in an area that benefits from several zoning objectives for a mix of uses including residential, community, employment and passive open space. Wicklow County Council is preparing the upcoming LAP 2025 and a draft is expected to be issued before the end of the year. The council’s vision is for this area to be developed as a residential, open space, employment and community zone and must comply with a number of criteria. The Irish Independent, 2nd October
Balbriggan, Co. Dublin A 17-acre tract of land at Folkstown Lane, which has planning permission for a whiskey distillery and seven light industrial warehouse units, will be offered for sale by tender, with Coonan Property guiding about €350,000 per acre, or almost €6m for it. The vendor achieved the permissions two years ago, well before US tariffs disrupted European exports. Its permit would allow a 60,890 sq. ft distillery and an ancillary visitor centre as well as light industrial warehouse units measuring 84,918 sq. ft or an average of about 12,000 sq. ft each containing associated offices and showrooms. The lands are zoned General Employment in the local development plan and are well located just off the M1 at Junction 6, and adjacent to Stephenstown Industrial Park. The Irish Independent, 2nd October
Clontarf, Dublin 3 Cairn Homes has offered members of Clontarf Golf & Bowling Club a package worth €75m to relocate the club to a course in Kinsealy, north Dublin. Under the terms of the offer, Cairn Homes would pay €15m in cash to the club and provide a budget of €60m to cover the costs of constructing a golf course, clubhouse, practice ground, bowling green and associated facilities at a 185-acre Abbeyville site. If it secures the land, Cairn, which has partnered with Green Land Capital on the proposal, hopes to build “thousands of homes” on the 72-acre site used by the club. Cairn has indicated that they would engage with Dublin City Council, CIE (which owns two acres at the site) and the club to secure rezoning and planning permission for the land. The Clontarf club owns about 10 acres of the land, operating under a sporting lease from DCC for another 62 acres. The proposal is subject to the Clontarf lands being rezoned for residential development and a “satisfactory” planning grant for new homes, along with the granting of permission for a new golf course in Kinsealy. The Irish Times, 3rd October
Investment Market Up to €693.6m worth of investment properties changed hands across all sectors in the third quarter, which brings the value of deals over the first nine months of 2025 to €1.6bn. Savills said the €693.6m figure represents a 16% increase compared to the same period last year. However, deal volumes remain 21% below the five-year Q3 average and have yet to recover to the highs of 2021 and 2022. Nevertheless, Savills said that 2025 is well poised to surpass the €2.5bn transacted in 2024. After a period when investors shied away from buying apartment complexes, they tended to return to the market this year and three deals helped the sector. Institutional/REIT was the leading buyer type, accounting for 67% of acquisitions. Irish and European buyers were active, accounting for 47% and 35% of transaction volumes, respectively. The Irish Independent, 3rd October
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