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.
HOSPITALITY
Mount Falcon Estate, Co. Mayo The four-star Manor House Hotel and its 95-acre estate is being offered for sale on behalf of the Maloney family by CBRE, seeking in excess of €10m. Mount Falcon comprises 32 guest bedrooms in the principal Manor House along with 45 guest lodges distributed across three areas, The Woodlands, The Courtyard, and the Lakeside that are within the wider estate. The hotel owns 17 of these lodges and, together with some of the lodges they lease, there is additional accommodation for a further 118 guests. The Manor House was designed in 1872 and was completed in 1876. Acquired for a reported €3.5m in 2002, the property and its estate underwent a multimillion-euro restoration over three years and opened for business as a luxury country-house hotel in 2006. Mount Falcon’s guest accommodation is complemented by the Kitchen Restaurant, The Boathole Bar, a 17m indoor pool, the Elemis spa and a range of conference and banqueting facilities including the Fuller Room, which has capacity for up to 200 guests. The Mount Falcon Estate comes with 3.2km of double-bank salmon fishing on the adjoining River Moy. The Irish Times, 8th July
OFFICE
Cardiff Lane, Dublin 2 JLL, on behalf of Oakmount, is guiding €6.25m for a newly developed office building in Dublin’s south docklands. The figure represents a substantial discount on the amount Oakmount spent on the acquisition of the building’s site and its subsequent development. The Irish Times understands the proceeds of the sale will be used to repay the lender on the project. Developed on the site previously occupied by the Crown Decorating Centre, 2 Cardiff Lane comprises 7,420 sq. ft of grade A office accommodation distributed over nine storeys, with a ground-floor retail unit of 751sq. ft. The building’s office floor plates range in size from 791 sq. ft (penthouse) to 846 sq. ft on the lower floors. The Irish Times, 8th July
Harcourt Street, Dublin 2 A private investor has purchased the historic Clonmell House on Harcourt Street for €3.7m. The four-storey over-basement Georgian building extends to approximately 8,811 sq. ft and comes with a two-storey mews together with 10 secure car-parking spaces accessed via Montague Lane. In May 2025, when it was launched on the market guiding €4.5m, The Irish Times reported that its basement and the first floor of the mews was let to Vaugirard under two separate leases with the basement in use as a bar and nightclub. It also said that both leases were for a term of 25 years from January 2016, with a passing rent of €55,700 and €8,000 respectively. The Irish Independent, 9th July
Stephen Court, Dublin 2 Mason Hayes & Curran is expected to conclude a lease agreement with Irish Life, the owner of the Stephen Court building, in the coming months. Stephen Court Limited, a subsidiary of Irish Life Assurance, received planning permission from Dublin City Council (“DCC”) in 2023 to demolish the building that housed Anglo’s headquarters, and build a seven-storey office block in its place. The project to revamp the building will increase its size from 151,000 sq. ft to 228,000 sq. ft. As part of its efforts to secure new office space, Mason Hayes & Curran was told it would be required to pay 15% – 30% more than the market rate to secure a space in Dublin 2. It is understood that market prime headline office rents currently sit between €65 and €67.50 psf. CBRE said in January that headline rents would need to rise to at least €75 psf “to support the viability of new construction”. The Business Post, 11th July
RETAIL
Dundrum Town Centre, Dublin 16 Dundrum Town Centre will be home to Ireland’s first Zara Home outlet later this year after the brand confirmed plans to significantly expand its Irish footprint. The new 15,854 sq. ft store will occupy a “prime location” in Town Square and will serve as a new anchor brand in the Pembroke District. It comes on the back of Zara’s ongoing major expansion and refurbishment of its existing store inside Dundrum Town’s main centre, increasing its footprint by 43% from 26,300 sq. ft to 37,700 sq. ft. The Business Post, 9th July
Deansgrange, Co. Dublin The German retailer Lidl will close its Deansgrange outlet with BNP Paribas guiding a price of €4m. The subject property comprises a retail unit of 14,402sq. ft along with a 120-space double-basement car park on a 0.99 acre site. Although the premises is occupied by German discount retailer Lidl at present, full vacant possession will be provided by Q4 of this year. The property is zoned ‘ZC’ Neighbourhood Centre under the DLRCC Development Plan, offering the incoming owner flexibility for a wide range of retail and commercial uses, subject to the necessary planning requirements. The Irish Times, 8th July
MIXED USE
Navan, Co. Meath The Navan packaging facility occupied by Irish confectionery brand Lir Chocolates has been brought to the market by Colliers who are guiding €2.6m for the premises. Price equates to a capital value of €94 psf. Lir Chocolates Limited has been over holding for more than a year on an expired nine-year lease which dates from April 2016. Last October, the Irish Independent reported that the UK is Lir’s biggest market accounting for 69% or €28.83m of its 2024 revenues while the Republic accounted for 8%, or €3.44m, of its turnover. Unit 2 Navan Business and Technology Park is a modern detached industrial facility extending to 27,594 sq. ft gross external area comprising 19,769 sq. ft of warehouse accommodation and 7,501 sq. ft of modern two-storey office accommodation. The business park itself sits on a 91-acre site in Athlumney, Co. Meath. The Irish Independent, 9th July
Abbey Street, Dublin 1 Jervis Shopping Centre’s new owners have sought permission to make further changes to create space for a new leisure and retail offering. Last year, the 247,569 sq. ft shopping centre was acquired by UK-headquartered retail investor Pradera and Connecticut-based Cross Ocean Partners for close to €115m. The new owners have lodged plans with DCC to make changes to the development, which has a vacancy rate of close to 30%. A planning application lodged this week is for permission to subdivide a 38,341 sq. ft unit previously occupied by fashion retailer New Look into two units. The space has been vacant since New Look’s liquidation in February last year. The application said one of the new units created would span 23,465 sq. ft and be used as an amusement and leisure facility, with scope for retail, restaurant and bar facilities. The second unit created would remain in retail use. The application did not clarify which business has agreed to lease the leisure space. It said the expected tenant had intentions to provide amusements, including bowling alleys, mini electrical go-karts, mini golf, arcade games and pool. The centre’s owners applied for permission in recent weeks to convert a long-vacant unit into a restaurant space. The 15,069 sq. ft unit on the first floor was previously occupied by US youth fashion retailer Forever 21 until it closed its Irish business in January 2018. The Irish Times, 9th July
Baggot Street Upper, Dublin 4 The Upper Leeson Street Area Residents’ Association (ULSARA) is objecting to plans to convert a vacant retail unit into a gastropub on the ground floor, with three residential units on the upper floors, at 21 Baggot Street Upper which was formerly a Weirs hardware store. In its objection, ULSARA states that there were 28 ground-floor retail outlets trading on the street, of which 17 are already hospitality outlets: 11 are restaurants or fast food restaurants, three are pubs and three are coffee shops. The Pembroke Road Residents Association and the Upper Baggot Street Traders Association have also raised similar concerns. The Irish Times, 13th July
INDUSTRIAL
Savills Q2 Report The accumulative take-up in the second quarter reached 619,000 sq. ft across 14 deals, marking a 13% increase year-on-year. While the same number of deals was also recorded in the same period of 2025, the average deal size was up this year to approximately 44,200 sq. ft. Ireland’s vacancy rate remained at 2.8%. Meanwhile, a trend towards smaller, lighter units continued this quarter with an average completion size of 24,900 sq. ft, compared to 96,000 sq. ft across 2025. The industrial sector also benefited from occupiers working in information and communications technology, which included data centre related businesses. According to the report, take-up is expected to continue its incline moving into the latter half of the year, with more than 1m sq. ft currently reserved across vacant and pipeline stock. The Irish Times, 9th July
RESIDENTIAL / DEVELOPMENT
Blackrock Road, Cork A prime development site on Cork city’s ‘Millionaires’ Row’ with planning permission for 48 homes has been launched to market through Cohalan Dowling with a €4m guide price. The 1.5 acre plot on the city end of Blackrock Road near Ashton Park is adjacent to former Society of African Missions house Feltrim, a period property on three acres that sold at the end of 2024 for €6m. A planning application has so far not been lodged for the redevelopment of the Feltrim lands, although it’s understood the preference is for detached, high-end homes. The latest €4m market arrival on Blackrock Road is being sold by Wicklow-based Dwellings Development Blackrock Road Ltd. Having acquired the Blackrock Road site off-market for a rumoured €3m-€3.5m (c€2m per acre) in 2022, the company subsequently sought permission to develop the land in July 2023 and cleared the final planning hurdle on appeal in January last year, paving the way for the construction of 44 mews apartments, spread over one five-storey and one six-storey block, as well as four three-storey, four-bed mews houses. The Examiner, 8th July
Carrigaline, Co. Cork Cork County Council (“CCC”) is the new owner of Avondale Park, the former home ground of Avondale United Football Club, in a deal valued at €2.5m. The 4.62-acre site, in an area with favourable zoning for housing, could accommodate up to 70 homes based on current guidelines. The closure of the deal has released funds to the club to press ahead with the development of alternate lands on the Carrigrohane “straight” road closer to Cork City, leased from CCC for a peppercorn rent. The club lodged a planning application in May to develop a new sporting infrastructure at the Carrigrohane site, to include one full-size artificial pitch, one full-size natural grass pitch, and floodlighting for both pitches and training areas, as well as upgrades to an existing car park. Avondale Utd had played in Carrigaline since 1986. The Examiner, 9th July
Sutton, Dublin 13 German investor MEAG has purchased another Dublin property investment with the purchase of an apartment complex with 140 units in Sutton. The Seafield Strand development comprises six residential blocks with a total of 140 apartments and a preschool. The apartments consist of 108 two-bedroom units with the remaining properties made up of one and three-bedroom apartments. MEAG was advised on the transaction by CBRE. It follows MEAG’s purchase of another residential investment, 18 Newmarket Square in the Liberties, for €75m and its more recent acquisition of One Molesworth Street, which includes the Ivy Restaurant on Dawson Street, for €110m. The Irish Independent, 9th July
Kildare town, Co. Kildare Ready-to-go site with full planning permission for 20 houses has come to the market on the edge of Kildare town with Coonan Property guiding €1.8m for it. Extending to approximately 2.15 acres, its planning permission from Kildare County Council (“KCC”) permits the development to consist of two detached houses, 10 semi-detached houses and eight terraced houses. KCC granted planning permission in August 2024 to Glencresent Property Ltd for the development. Glencresent undertook some initial works including foundations for six semi-detached houses and secured an agreement with KCC for the contribution waiver. Subsequently, Glencresent put it up for auction in March 2025 with a €1.4m guide price and auctioneer Coonan sold it after auction for over its guide price. The property developer who purchased it negotiated a connection agreement with Irish Water. The owner then decided to sell it as it reviewed the company’s growth strategy after it secured opportunities to upscale other development projects. The Irish Independent, 9th July
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