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.
ORIGIN CAPITAL KVIKA FUNDING PARTNERSHIP
New Origin Kvika Deal Under Origin Capital’s strategic relationship with Kvika banki hf, Origin Capital recently arranged a two year, €2.25m, interest only facility, secured on an office property in Dublin. If you have a funding request for €2m+, please contact Ross Metcalfe at rossmetcalfe@origincapital.ie Origin Capital, 9th June
HOSPITALITY
Carlow Town, Carlow CBRE is guiding €7.5m for the four-star, Seven Oaks Hotel. Located in the heart of Carlow town, the Seven Oaks Hotel and Leisure Club is a well-established 89-bedroom venue with a full range of facilities catering to guests and locals alike. The hotel’s food and beverages are served in TD Molloy’s Restaurant and the Oaks Bar, while its conference and banqueting facilities can accommodate up to 500 delegates, a capacity matched by few hotels in the region. The hotel’s recently reopened leisure club features a 20m swimming pool, a steam room, sauna, jacuzzi and gym. Positioned just off the M9 motorway and in the heart of Ireland’s Ancient East, the hotel is accessible from Dublin in just over an hour, is a 30-minute drive from Kilkenny and two hours from Cork. The Irish Times, 3rd June
Castletownbere, Co. Cork Local agent Charles McCarthy is quoting €3.5m for the Berehaven Holiday Complex, near Castletownbere. Located at Waterfall on the Beara Peninsula, this four-star holiday complex comprises 16 self-catering houses, 10 detached pods and a separate fully licensed bar/restaurant/function room. Its 10-acre property also accommodates service units including an office and laundry. Most of the self-catering houses accommodate three-bedrooms and one of them is a one-bedroom unit. The bar/function room which was recently redecorated has capacity to cater for 120 people. Each of the 10 detached pods can sleep four people and come with a shower/WC and basic kitchen facilities. The property has its own private pier, beach and helicopter pad. The Irish Independent, 4th June
Gardiner Street, Dublin 1 Colliers is guiding €2.975m for the former Paddy’s Palace Hostel located at the junction of Beresford Place and Lower Gardiner Street. The property comprises two interconnected period buildings extending to approximately 9,214 sq. ft and are arranged over basement and four upper floors. The buildings retain many original features and are designated as Protected Structures. It is currently configured as a hostel with significant capacity and offering substantial potential for repositioning or redevelopment (subject to planning permission). Internally, the property is currently operated as a hostel providing 22 guest rooms with total capacity of 108 bed spaces. The existing layout offers a mix of private and dormitory-style accommodation, alongside associated communal areas and facilities. The property is offered with vacant possession and is held under a combination of freehold and long leasehold title. Colliers Release, 3rd June
OFFICE
Sandyford, Dublin 18 The Hive, a fully refurbished office building in the Sandyford Business District which is home to Woodies-owner Grafton Group, has been sold for €23.25m (7% NIY), the Business Post understands. The property has been sold by HWBC as sole agents on behalf of Grant Thornton, acting as receiver for Bain Capital, to a private Irish buyer, which was not disclosed. As well as Grafton Group, occupants of The Hive include Cubic Telecom, NTR, Keyword studios and BMC. In 2022, the 73,033 sq. ft office building, which is laid out across four floors, was brought to the market guiding €34.4m. In July 2025 it was put up for sale again guiding €24.2m. The office building generates annual rental income of €1.95m, with a WAULT of 8.2 years to expiry. The Business Post, 5th June
North Wall Quay, Dublin 1 Ronan Group Real Estate (RGRE) has won planning permission from Dublin City Council (“DCC”) to partially demolish and rebuild the headquarters of Citibank on the north quays. The current six-storey building at 1 North Wall Quay will roughly double in height, as the permission allows one of four new blocks to rise to 12 storeys. The original building was completed in 2000, as a new headquarters for what was then Citibank. RGRE bought it three years ago in a deal reportedly worth €140m. Its original redevelopment proposal was for a 17-storey scheme, which was refused by DCC, a decision upheld by An Coimisiún Pleanála. A revised design, submitted last December, reduced both the bulk and the height. A 10-year planning permission has now been granted for the redevelopment on the 2.17-acre site, with the new blocks going from seven to 12 storeys, and the existing facades to be removed. As well as office accommodation, the new building will have a 7,104 sq. ft community space. The Irish Independent, 8th June
Industrial
Balbriggan, Co. Dublin Harvey is guiding €4.5m (6.5% NIY) for KVS Business Park. The park comprises 13 industrial and warehouse units and the combined floor areas of its 13 units extend to 36,110 sq. ft. They are split between two modern blocks set in a gated development. The scheme is fully let to eight tenants and is producing rental income of €319,700. 43% of this income comes from An Post who operate a delivery centre from units 3-6. Three of the units have outstanding rent reviews which will allow the new owner to see an immediate rental uplift. Unit sizes range from 1,687-5,020 sq. ft, except for the An Post facility which measures 14,664 sq. ft. The Irish Independent, 4th June
Ballycoolin, Dublin 11 Harvey is guiding €895,000 for Unit 6C Rosemount Business Park, Ballycoolin Road. The property is a modern light industrial/warehouse unit extending to 5,436 sq. ft which is being sold with the benefit of vacant possession. Of steel frame construction, it is finished to a high standard with a clear internal height of seven metres. Loading access is provided to the rear of the facility by way of one level access door. The well-appointed two-storey office and staff facilities are situated to the front of the property. A large loading yard, with a depth of 27 metres, is located to the rear of the property, with five designated car spaces provided to the front. The Irish Independent, 4th June
Rathcoole, Co. Dublin Joint agents Harvey and CBRE are offering two industrial units for rent at Units B6 & B13 Aerodrome Business Park in south-west Dublin. Their landlord, Kennedy Wilson, has substantially refurbished the pair. Located in a terrace, the two units extend to 7,158 sq. ft and are available under new long-term leases. The quoting annual rents are €68,500 for Unit B6 and €65,000 for Unit B13. Key features of the refurbished units include eight metre clear internal height, one automated level access door per unit, upgraded LED lighting to the warehouse, modern WC and staff facilities, new kitchenette, freshly decorated office accommodation including new floor covering and air-conditioned offices. Aerodrome Business Park is situated only 550m from the Naas Road (N7). The Irish Independent, 4th June
Nationwide Dublin’s logistics and industrial buildings are becoming taller as occupiers seek to maximise storage capacity and improve operational efficiency, according to new research from Knight Frank Ireland. A study by the firm predicted that average warehouse clear heights in Dublin will hit 14 metres this year, an increase from 12 metres in 2018. This trend is more evident in larger units. For schemes completed in 2025 and currently under construction in Dublin, average clear heights range from 9.1 metres for units below 10,764 sq. ft, to 14.4 metres for units above 107,639 sq. ft. Knight Frank says height is becoming a much more important consideration from both an occupier and investor perspective. Taller warehouses allow occupiers to increase pallet capacity, improve operational efficiency and support greater levels of automation, while also “maximising increasingly scarce industrial land”. The Business Post, 3rd June
MIXED USE
Herbert Street, Dublin 2 Agent Avison Young is guiding €1.5m for number 18 Herbert Street in Dublin’s south city centre. Located within the city’s Georgian core, the subject property comprises a mid-terrace, four-storey over-basement redbrick building with an interconnected two-storey mews to the rear, fronting on to Herbert Lane. The property is positioned between Lower Baggot Street and Upper Mount Street. Number 18 extends to a gross internal area of approximately 5,770 sq. ft, and comprises net office space of 3,452 sq. ft. The building features a modernised, self-contained 840 sq. ft two-bedroom apartment at third-floor level. The property retains many of its original Georgian features. The property is primarily vacant, with the basement and first-floor return occupied under a short-term licence agreement which expires in July. The Irish Times, 27th May
PURPOSE BUILT STUDENT ACCOMMODATION
Galway City A receiver has been appointed to a student accommodation development in Galway city. Sancus Lending has appointed Myles Kirby of restructuring firm Kroll as receiver over the assets of Wallbury, the company behind the scheme. The development, located on Moneenageisha Road near the Wellpark Retail Park and the G Hotel, comprises 14 apartments. Originally bought for use as a traditional apartment complex, the development will now be put up for sale. The Business Post, 7th June
RESIDENTIAL / DEVELOPMENT
Rathmines, Dublin 6 A fully-let apartment scheme in Rathmines, The Pavilion View portfolio, is being offered to the market by BNP Paribas Real Estate guiding €8.5m (NIY 4.91%). Located above the Lidl store on Lower Rathmines Road, Pavilion View comprises 24 apartments consisting of a mix of one-, two- and three-bedroom units, including a three-bedroom penthouse. The entire scheme is let to Real Estate Property Partners on a 10-year lease from 2023 at €436,000 pa. The apartments are fully occupied under standard residential tenancy agreements, and none of the existing residents are impacted by the sale. The Irish Times, 3rd June
Dublin Kennedy Wilson, a US-based investment company, and APG, a Dutch pension fund, have formed a €2bn residential joint venture to develop and manage over 3,400 private rented homes in Ireland. As part of the venture, Kennedy Wilson will acquire a minority equity interest in APG’s existing 1,100-unit Cherrywood portfolio in South Dublin. Kennedy Wilson will separately acquire a minority equity interest in, develop and deliver, approximately 2,300 new private rented sector units across the Player Wills, Bailey Gibson and Clonliffe sites. Each site holds full planning permission, with construction commencing immediately on over 700 units at the former Player Wills cigarette factory on the South Circular Road in Dublin 8. Construction on the remaining 1,500 units across the Bailey Gibson and Clonliffe schemes is expected to commence early 2027. Upon completion of the developments, Kennedy Wilson’s owned and managed Irish portfolio will extend to approximately 6,900 residential units. The Business Post, 4th June
Nationwide British private equity firm Matter Real Estate has appointed KPMG to examine a potential sale of Dwellings Developments, its Irish housebuilding business. Founded in 2019 as a joint venture between Matter and a group of Irish entrepreneurs led by former McInerney Holdings executive Barry O’Connor, Dwellings focuses on residential developments in regional growth centres, particularly Limerick, Cork and the greater Dublin area. The company is understood to sell around 150 homes annually, with an average selling price of €400,000, targeting first-time buyers, families and approved housing bodies. It holds planning permission for more than 700 homes across a substantial land bank. Dwellings own development sites across Limerick, Cork, Wicklow, Meath and Kildare. The Business Post, 7th June
OTHER
Various Locations, Cork Seven former dispensaries and health centres owned by the HSE and valued at just under €900,000 will come up for auction later this month. All are based in Cork and include a 2,207 sq. ft, three-storey, end-of-terrace property at No 4 Carriglee, Western Rd, with an AMV of €300,000; a two-storey, 1,012 sq. ft end-of-terrace former dispensary at The Parade in Ballydehob, (€75,000 AMV); Cobh former health centre at 2-3 Canon O’Leary Place (1,378 sq. ft, AMV €120,000); a former dispensary on Main St, Dunmanway (1,625 sq. ft, AMV €110,000); a former health centre on William O’Brien St, Mallow (4,284 sq. ft, AMV €70,000); a former health centre on Beach Rd, Passage West (1,948 sq. ft, AMV €150,000) and a former dispensary in Rathduff (721 sq. ft , AMV €40,000). The properties will be sold individually by auction in June, overseen by Donnellan & Joyce Auctioneers. The Irish Examiner, 4th June
Sandyford, Dublin 18 French real estate investment firm Wemo One has acquired two laboratory facilities in Sandyford Business District for a total of €8m. Both properties are leased to Eurofins, the French laboratory services and analytical testing firm. The acquisition marks Wemo One’s second investment in the Irish market, where it now has three properties as part of its portfolio. The total leasable area of the two properties totals more than 24,542 sq. ft, with a yield of 7%. The group has 35 assets spread across Europe between Spain, Italy and France. HWBC advised Wemo One on the acquisitions, while the properties were sold by M7 Real Estate, which was advised by Lisney. The latest acquisition comes shortly after the group paid €3.6m for a 22,927 sq. ft facility in Cookstown industrial estate in Tallaght, which is currently leased to Prodieco. The Business Post, 6th June
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