21st April (Issue 543)
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 a residential property portfolio in Dublin. If you have a funding request for €2m+, please contact Ross Metcalfe at rossmetcalfe@origincapital.ie Origin Capital, 14th April
HOSPITALITY
Trim, Co. Meath Joint agents Savills and JLL are guiding €25m for the four-star Knightsbrook Hotel, Spa & Golf Resort. The hotel comprises 131 guest bedrooms and 28 three-bedroom self-catering holiday homes. Food and beverage offering includes Rococo Restaurant, Swifts Bar, Terrace Lounge, and Rooftop Terrace, alongside large-scale conference and banqueting facilities with capacity for up to 1,800 delegates. The Knightsbrook’s leisure and wellness facilities include the award-winning River Spa with 14 treatment rooms and a health club with an 18m swimming pool, rejuvenating thermal suite, a gym, and two dedicated fitness studios, which cater for the hotel’s guests and health club members. Set across a total of 172 acres of parkland, the resort also features a championship 18-hole golf course. The Irish Times, 15th April
For lending terms on this asset, please contact rossmetcalfe@origincapital.ie
Drogheda, Co. Louth The Thatch Bar and Kitchen, a licensed premises and restaurant on the edge of Drogheda, has been launched on the market with BDM Property guiding €1.5m. A purpose-built two-storey over-basement premises, its 19,967 sq. ft floor area accommodates a lounge bar, public bar, restaurant and three function rooms. To the front of the property stands the original Thatch licensed premises which dates to 1840 but is not used as a pub. A protected structure, its thatched roof has been repaired but its interior requires refurbishment. Occupying a 0.96-acre site, it offers parking for 60 cars and has potential for further development. Strategically located at a prominent trading position on Donore Road, a busy thoroughfare linking Drogheda town to Junction 9 of the M1 Dublin to Belfast motorway. The Irish Independent, 16th April
Bandon Road, Cork West Cork businessman Damien Long has purchased The Viaduct Inn. The venue had been listed for €1.6m, and it is understood it sold for in excess of €2m. The 7,000 sq. ft property sits on a 2.84-acre site, with over 110m of profile on the N71 Bandon Rd. Currently operating as a restaurant, a multi-million investment will transform the building into a multi-purpose space, promising a “first-of-its-kind” transport and travel hub. A statement on behalf of Mr Long said the first element of the hub will be a Dublin Connect bus service. A dedicated park-and-ride service will operate every 30 minutes from 6am to midnight, running in a loop from The Viaduct and taking in Cork University Hospital, Wilton, University College Cork, Mercy Hospital, and Kent Station. The third element will see the restaurant turned into a “roadside plaza” The Irish Examiner, 16th April
Baggot Street, Dublin 2 The owners of the Fire Steakhouse and Sole Seafood & Grill restaurants in Dublin city centre are in discussions to buy the Star Bar, a pub located on Baggot Street lower. The Star Bar, formerly called Larry Murphy’s, was put on the market this year with a guide price of €1.95m. At auction the property was withdrawn after it failed to reach its reserve price. The building comprises the pub at basement and ground level, and offices on the upper three floors. The owners of The Phoenix, a satirical magazine, have a 35-year lease for the third floor and pay an annual rent of just under €12,000. The owners have invested heavily in Fire and Sole. In 2025, they put €3.5m into expanding Sole, doubling the size of the restaurant. The Sunday Times, 19th April
INDUSTRIAL
Industrial Market Preliminary data for Q1 2026 shows that approx. 560,300 sq. ft of industrial and logistics space was taken up across Ireland with 415,300 sq. ft in Dublin, 130,000 sq. ft in Cork and 15,000 sq. ft in the Limerick-Shannon markets. Three deals handled by Cushman and Wakefield accounted for nearly 60% of the space taken up in Dublin and 45% nationally. EVRi, a UK parcel delivery and logistics company, leased approx. 92,500 sq. ft at Unit D1 Airport Business Park in Swords. Sims Lifecycle services, a global provider of IT decommissioning and recycling services leased approx. 78,700 sq. ft at Unit 4 Vantage Business Park. Finally, Crane Worldwide Logistics signed for approx. 78,800 sq. ft at Unit N4 Horizon Logistics Park. A tighter supply-demand dynamic has continued to support rental growth for the sector. Cushman and Wakefield says it expects prime industrial rents to increase by 3% in 2026. The Irish Times, 15th April
MIXED USE
Carolan’s Corner, Dublin 1 DNG is guiding €1.6m for Carolan’s Corner, a tranche of three red-brick period, terraced, commercial and residential properties near Croke Park. The properties are located at the junction of North Circular Road, Belvedere Road, Belvedere Place and Sherrard Street Upper. The properties includes the five-bedroom 482 North Circular Road house. This is interconnected with the adjoining 12 Sherrard Street Upper which is the off-licence. The alcohol licence is being offered for sale separately for approx.€46,000. As well as the off-licence shop, this property also includes two reception rooms, a kitchen and bathroom and separate WC along with store rooms. Next door is 480 North Circular Road which is a separate four-bedroom house and has been rented out. It comes with two reception rooms, a kitchen and two shower rooms. The Irish Independent, 16th April
Mahon Point, Cork City Cork City Council has granted permission to an Irish subsidiary of Deka Immobilien, a German real estate giant, to proceed with its €200m plan to redevelop and expand Mahon Point shopping centre. The development, which comprises 837,077 sq. ft of ground floor space, will add some 139,931 sq. ft of retail space to the existing footprint. It will also include 251 apartments and a 69,255 sq. ft office block over five storeys, as well as a multistorey car park. The company also received permission to develop open space “civic areas, including a market square, which can accommodate the existing farmers’ market, civic and community events, as well as occasional pop-up structures and activities”, according to the decision notice. Demolition of the existing western facade of the Mahon Point shopping centre will be required to facilitate part of the development. The Irish Times, 16th April
RETAIL
Tallaght, Dublin 24 Colliers is guiding €1.2m for Unit 301 at The Square Shopping Centre. The 950 sq. ft unit is let to Rubybridge Ltd trading as Spar at a passing rent of €90,000 a year, secured on a 10-year lease from September 2025, with five-yearly rent reviews and no break options. The lease is guaranteed by Ginos Italian Ltd. The subject property occupies a high-footfall position at the western entrance to The Square, opposite Belgard Square West, which also serves as the main access way from the Tallaght Luas red-line stop. The unit is also located directly opposite the cinema which drives additional footfall. Should a sale of the unit proceed at the guide price, the buyer would be in line for a net initial yield of 6.82% after standard purchaser’s costs of 9.96%. The Irish Times, 15th April
Jervis Shopping Centre, Dublin 1 New Yorker, a German discount fashion retailer, has agreed to pay a rent of €850,000 at the Jervis shopping centre in Dublin as it opens its first Irish store. The company has signed a 15-year lease for a two-storey unit at the Abbey Street mall, according to a filing on the commercial property price register. The deal is the first big signing by Jervis’s new owners. International property investors Cross Ocean Partners and Pradera reportedly paid €115m for the city centre mall last year. New Yorker, which sells trend-led womenswear, menswear and accessories, will take a 21,528 sq. ft unit that is due to open this year. The retailer has more than 1,300 stores and employs 26,000 people worldwide. Pradera, a London investment fund and asset manager, is exploring opportunities to strengthen the occupier mix at the Jervis centre. The Sunday Times, 19th April
OFFICE
Park West Business Campus. Dublin 12 One of the office sales in Dublin during the first quarter of the year saw a self-contained building, Block 16, Joyce Way, Park West Business Campus, sell for slightly over the €2.525m which had been quoted by selling agent BNP Paribas Real Estate. The property extends to 25,942 sq. ft over three floors and features a mix of open-plan and cellular office space, along with a large commercial canteen facility located on the first floor. Accessed via an impressive triple-height reception area, the office accommodation benefits from a generous 2.7-metre floor-to ceiling height throughout. It also came with 36 surface car-parking spaces. Park West business park is easily accessible via the Nangor Road, which connects the business park to the M50 ring road. The Irish Independent, 16th April
Rosslare Road, Wexford TWM Property is guiding €5.9m for the first, second and third floors of Limekiln House, the large office building which houses Zurich Insurance in Kerlogue Business Park on the Rosslare Road. According to the listing the building currently commands an annual rent of €540,739, with seven years remaining on a 26 year-lease and the next CPI rent review due for 2028 with no caps or collars. An ultra modern and extremely well-finished building, it stretches to approx. 22,177 sq. ft with 103 parking spaces. While the ground floor is not included, the brochure states under “asset management potential” that there is “opportunity to buy the ground floor of the building”. The Sunday Independent, 19th April
PURPOSE BUILT STUDENT ACCOMMODATION
North King Street, Dublin 7 A purpose-built student accommodation scheme in Dublin’s north inner city with full planning permission has come to market. CBRE Ireland is handling the sale of the Factory, a 0.84-acre development site on North King Street, with planning permission in place for 338 student beds. The guide price has not been disclosed but is available on request from the agent. Extending across five to seven storeys, the development retains the protected red-brick façade fronting North King Street, while introducing a contemporary scheme arranged around a central courtyard. Plans also include a retail unit at the corner of North King Street and Bow Street, alongside cultural space at ground floor level. The Factory scheme will have a mix of 73 studio units alongside cluster apartments ranging from four to eight bedrooms. The Business Post, 20th April
RESIDENTIAL / DEVELOPMENT
Dundrum, Dublin 14 Dún Laoghaire-Rathdown County Council has moved to the delivery stage of a key housing scheme in Dundrum, signing contracts with Winterbrook Ltd for a 129-unit social and affordable development. The Emmet Gardens project, approved through the Part 8 process last year, will comprise 72 one-bedroom and 57 two-bedroom homes across three blocks ranging from two to six storeys. The scheme forms part of a broader pipeline of more than 1,000 homes being advanced by the local authority under its Competitive Dialogue model. The scheme is being supported through a combination of State funding streams, including the Social Housing Capital Investment Programme and the Affordable Housing Fund, with the site itself acquired via the Housing Agency’s Land Acquisition Fund. Located on Dundrum Road, construction is expected to commence shortly, with completion targeted for late 2028. The Business Post, 17th April
Ballsbridge, Dublin 4 Eagle Street Partners has teamed up with Landfair, a Swiss and British-based investment group, to buy No 2 Ballsbridge Park. The former headquarters of Goodbody Stockbrokers was offered for sale in an off-market process in 2024, with a reported asking price of €32.5m. At the time it had a number of short-term tenants, including BlackRock and Coca-Cola, but they, along with Goodbody, were due to vacate the building early last year. No 2 Ballsbridge is likely to be a development play for Eagle Street and Landfair. With a C3 building energy rating, the property sits on a 1.1-acre site and received planning permission in 2022 for an extension. The Sunday Times, 19th April
If you have an article which you would like to have considered for inclusion in our next weekly report, please contact us at info@origincapital.ie