Longford Town TWM is guiding €3m for Longford Town Centre. Located on the site of a former meat processing facility which had been owned and operated by ABP Food Group, the ambitious Celtic Tiger-era shopping centre, which extends to 253,680 sq. ft with 344 car-parking spaces over three levels, has lain entirely vacant since its completion. The centre was acquired in 2018 by its current owners, the Omniplex Cinema Group, who operate the neighbouring multiplex cinema, from receivers acting on behalf of NAMA for about €1m. It is positioned on a 1.8-acre plot on the banks of the Camlin river in the centre of the town. The Irish Times, 20th May
Henry Street, Dublin 1 Carrolls Irish Gifts have acquired their premises at No 44 Henry Street. Having occupied the property under a single 35-year full repairing and insuring lease since April 1995, the company has secured ownership of the property for €4.15m. The figure represents a slight premium on the €4m price that had been guided by Colliers when it put the building up for sale in January. Carrolls Irish Gifts had been paying a rent of €362,000 a year before its acquisition of the property, and its lease, which had been due to expire in April 2030, was subject to upward-only rent reviews. Number 44 Henry Street extends to a net internal area of 4,263 sq. ft in total and comes with independent access to the upper floors from O’Connell Street. The Irish Times, 20th May
Drogheda, Co. Louth Boots has agreed terms for a new 12,400 sq. ft store at Scotch Hall Shopping Centre. The new store will combine three ground-floor mall units with additional basement accommodation. The announcement follows the recent opening of a six-screen cinema by Omniplex Cinemas at the centre. Scotch Hall was developed in the early 2000s by Gerry Barrett and acquired by Omniplex for about €21m in 2023. The landlord is also seeking planning permission from Louth County Council for the nearby South Bank development, which would include 172 apartments across five blocks and a 107-bedroom hotel. The Irish Times, 20th May
Swords, Co. Dublin Lisney is guiding €2.35m for Forty Four, a small hotel on Swords Main Street. The Forty Four used to be known as the Hawthorn Hotel and it once had 17 bedrooms. As part of a €350,000 refurbishment to convert it into a boutique-style hotel, the number of bedrooms was reduced to 14. A two-storey and part three-storey mid-terrace building, it extends to 7,998 sq. ft, of which the ground floor, with its bar, lounge and kitchen, accounts for 3,735 sq. ft. Its upper floors extend to 4,263 sq. ft. Its food and beverage trade will also benefit from the strong local demographics of Swords, while demand for its accommodation will benefit from travellers availing of its proximity to Dublin Airport. The Irish Independent, 21st May
Dunshaughlin, Co. Meath Lisney is guiding €1.7m for Peter’s pub. Standing on 0.38 acres, the detached premises is much larger than it seems from the front and it extends to 7,212 sq. ft. At ground-floor level, the lounge bar areas are complemented by a well-appointed rear beer garden. Its first floor used to accommodate a nightclub, with separate access from the right of the pub, but in recent years this has been converted to a function room with its own kitchen. Lisney says the first-floor function room also offers potential for a change of use to guest accommodation, subject to the necessary planning permissions. It also benefits from a small car park to the rear which has side access. The Irish Independent, 21st May
Ballsbridge, Dublin 4 Having paid just under €15m in 2022 for two 1980s office blocks known collectively as the Nutley Building on Merrion Road, M7 Real Estate has instructed Lisney to find a buyer for one of them. Better known as the AIG building by virtue of being occupied historically by the global insurer, Block B is being offered to the market with full vacant possession at a guide price of €6.25m. The vendor, M7 Real Estate, is retaining ownership of the neighbouring building having secured full occupancy at the 26,147 sq. ft property following the letting of 4,160 sq. ft of office space to St Vincent’s University Hospital in 2023. Located near the junction of Merrion Road and Nutley Lane, almost immediately adjacent to St Vincent’s University Hospital campus, Block B comprises 16,840 sq. ft of office space distributed across five floors. The Irish Times, 20th May
Maynooth, Co. Kildare A private Irish investor has bought the office building located at Unit K8, Maynooth Business Campus which was listed with a guide price of €4m. Sherry FitzGerald Brady O’Flaherty confirmed the sale of the property extending to approximately 17,298 sq. ft over two floors. The energy-efficient contemporary building was completely refurbished in 2022 and has 28 car parking spaces. The entire building is let to two blue-chip international companies with 10-year leases from Q3 2022 and is subject to a current combined rent of approximately €356,000. The Business Post, 21st May
Citywest, Dublin 24 The Sandymark Group is to deliver a new 98,57 sq. ft headquarters warehouse facility at Citywest Business Campus. The development at 2021 Bianconi Avenue is being offered for sale or alternatively to let in advance of its completion by joint agents Cushman & Wakefield and BNP Paribas Real Estate. The guide price is €25.63m, about €260 psf, while the quoting rent is €15 psf. The facility will comprise a highly sustainable LEED Gold-certified logistics headquarters upon completion. The warehouse will have a clear internal height of 13m and 13 dock levellers. The Sandymark Group has delivered more than 6m sq. ft of industrial space for Irish and international occupiers to date in the nearby area of Greenogue. The company also recently commenced construction of the first phase of a new large-scale logistics scheme at Mitchelstown in Cork. The Irish Times, 20th May
Galway City Cushman & Wakefield is guiding €4.5m (9.37% GIY) for Merchants Square on Dock Street/Merchant’s Road, a reduction on the €6.5m quoted for it when it previously came to the market in 2021. Since then, its rent roll has increased from €372,070 to €421,735 per annum. The property extends to 21,560 sq. ft over four floors, its office accommodation is located at ground, first, second and third floors with the fourth floor accommodating one two-bed and two one-bed apartments. Merchants Square currently generates €378,055 of its annual rent from three commercial tenants, Grant Thorton, Quidel and The Dean Clinic. Three residential units also generate combined rents of €43,680. Given that 2,228 sq. ft on a portion of the third floor is still unlet, it also has reversionary potential. It also offers further potential, as planning permission was granted in 2019 for the construction of an additional floor comprising four apartments, though that permission has since expired. The Irish Independent, 21st May
Frankfield, Cork BIG Property is guiding €2.85m for Ballycurreen House, in Ballycurreen, Frankfield. The mixed-use commercial asset consists of a two-storey building of approximately 20,000 sq. ft, arranged over five separate office suites, as well as a 7,700 sq. ft warehouse, all set on a generous site that could lend itself to further development. The property also benefits from around 110 car parking spaces. Three units are let to Joda, McLarens Chartered Loss Adjusters and Acorn Life generating a combined annual rent of €143,046. The three vacant units include a 1,507 sq. ft first floor office suite and a 3,500 sq. ft office on the ground floor. The third vacancy relates to the warehouse and yard. The complex is located just off the N27 Kinsale Rd (Airport Rd) and South Ring Rd, approximately 3.5 km south of Cork city. The Irish Examiner, 21st May
Drogheda, Co. Louth Bannon is guiding €5.75m for a 27.1-acre holding next to the M1 Retail Park in Drogheda. Located just 600m from junction 10 (Drogheda North) of the M1 motorway, the land has dual road frontage with profile on to both the N51 and R168. The land, which is in agricultural use currently, is zoned “E1 – general employment” under the Louth County Development Plan 2021-2027. Planning permission was granted in May 2025 for the development of a single high-bay warehouse unit extending to 34,950 sq. ft together with associated roads and related infrastructure on part of the overall site. The proposal also includes two separate access points on to the N51 and R168 respectively. The Irish Times, 20th May
Ballinteer, Dublin A residential development site in Ballinteer, with full planning permission for 31 apartments has been brought to the market. The 1.1-acre site on Ballinteer Road is being offered for sale through Lisney, with bids sought by 5pm on July 2. The property currently comprises an existing detached residence known as part of the original Ballinteer Lodge alongside extensions added during the 1970s. The site is zoned Objective A under the Dún Laoghaire-Rathdown County Development Plan 2022–2028, with the objective “to provide residential development and improve residential amenity while protecting existing residential amenities”. Full planning permission was granted in August 2024 for a scheme comprising 31 apartments across three separate blocks. The approved development includes 12 one-bedroom apartments and 19 two-bedroom units, alongside 32 car parking spaces, including 28 basement spaces and four surface spaces. The Business Post, 21st May
Development Land Market Ireland’s development land market recorded a strong start to 2026, with €197.7m transacting across 22 deals, according to the latest report from Savills Ireland. This represents a 55% increase in combined value while the number of deals is up 5% compared with the same period a year ago and the best first-quarter performance since 2019. Dublin City Council accounted for €90m of the Q1 figure with its purchase of the 3.6-acre Camden Yard site near Saint Patrick’s Cathedral. The mixed-use site could supply it with new offices extending to 407,300 sq. ft as well as 299 residential units. The second-largest deal was for an undeclared amount of residential land in Newbridge, Co Kildare. The third was for 31 acres of residential land in Ratoath, Co Meath, which sold for €26m and it has planning approval for 350 new homes. The Irish Independent, 22nd May
Cork Docklands A Bord na Móna site in Cork docklands with potential for 300 “affordable” homes has been transferred to the Land Development Agency (LDA) as residential development gathers pace in an area pivotal to the city’s future growth. The 5-acre Monahan Rd site, known locally as Suttons Coals, is situated between the recently proposed Docklands and Páirc Uí Chaoimh Luas stops and is directly across the road from the former Live at the Marquee venue, where the LDA is partnering with Glenveagh Properties Plc on the delivery of 337 apartments at Marina Depot. The planned development of the former coal yard will add to the LDA’s ongoing activity in Cork, where already close to 1,400 homes are either in planning or already under construction. The Irish Examiner, 20th May
Walkinstown, Dublin 12 Plans for 583 apartments in Walkinstown can proceed after An Coimisiún Pleanála (ACP) rejected an appeal from a nearby waste facility to block the development. KeyWaste Ltd, since renamed KeyGreen Ltd, which operates a 24-hour waste facility in Greenhills Industrial Estate next to the site, was concerned that complaints from future residents over noise and smells could see restrictions placed on its operations. Planning permission was originally granted to Steeplefield Ltd by South Dublin County Council for a large-scale residential development in December 2025. The site off Greenhills Road will accommodate 288 one-bed apartments, 238 two-bed apartments, and 57 three-bed apartments in four blocks ranging from five to 11 storeys in height. The development will also include space for a childcare facility and seven ground-floor commercial units. It will have car parking for 267 vehicles and 1,269 bicycles. The Irish Times, 25th May
Blackrock, Co. Dublin Plans for more than 230 apartments and 16 townhouses in Blackrock can proceed after ACP rejected an appeal from local residents to block the development. The decision comes following nearly eight years of various rejected applications for planning permission on the site. In 2024, ACP rejected planning permission for 355 build-to-rent apartments at the same location. The site is currently part of the original gardens associated with Chesterfield House, a protected structure. The particular area subject to development features mostly greenfield and several disused outhouses, which will be demolished. The site off Cross Avenue will accommodate 42 one-bed apartments, 137 two-bed units, and 56 three-bed apartments in two blocks ranging from five to eight storeys over basement in height. The site will additionally include 16 five-bed townhouses, each of them three storeys high. The Irish Times, 26th May
Newcastle, Co. Wicklow JLL is guiding €16.2m for Newcastle Aerodrome in Wicklow. Extending to 141 acres, the facility is in active use as a licensed airfield. Located 45km south of Dublin city centre, Newcastle Aerodrome is a coastal airfield with a 690m-long grass runway. The facility is operational all year round and has a range of supporting infrastructure, including hangars, offices, and operational buildings, all of which are in good condition. The site also includes a disused residential dwelling, presenting potential for refurbishment or repurposing. Newcastle Aerodrome is located within Class G airspace, allowing unrestricted flight operations without the need for clearance from air traffic control. The airfield is designated as a customs-approved entry and exit point for aircraft travelling to and from the UK. In addition, the aerodrome benefits from its own air traffic zone which, again, has no restriction on movement. The Irish Times, 20th May
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Clonshaugh Road, Dublin 17 CBRE is seeking offers in excess of €5.3m for a sale-and-leaseback retail investment in north Dublin. The property, which is occupied by homeware and DIY brand The Range, offers a buyer the opportunity to secure a NIY of 6.75% and at least 15 years of guaranteed rental income. Located on Clonshaugh Road, the investment, a 32,000 sq. ft store on a 2.5-acre site, is part of a wider portfolio comprising 10 stores distributed across England, Wales, Northern Ireland and the Republic of Ireland. The Range will provide a 15-year lease term with no break options and built-in growth with five-yearly CPI-linked rent reviews (1-3%). The Clonshaugh Road property is currently generating €392,220 in annual rental income, which equates to €12 psf. The Irish Times, 13th May
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Youghal, Co. Cork Clancy’s Bar & Restaurant, a well-known landmark in Youghal’s hospitality scene, has been launched to market with a guide price of €945,000 through Sherry FitzGerald Hennessy. Occupying a prime coastal spot by the scenic Front Strand and close to the eastern terminus of the 23km Midleton to Youghal Greenway, the 2,264 sq. ft property on 0.79 acres includes a ground-floor bar and restaurant with panoramic sea views, a lower ground-floor function room and commercial kitchen, and a large beer garden. The business has a strong food offering and can seat 160 customers in its restaurant, while the private function room can accommodate up to 110 guests. The Irish Examiner, 13th May
Lisdoonvarna, Co. Clare Two Clare hoteliers have made a significant expansion to their business with the acquiring of a 113-bedroom hotel on the Wild Atlantic Way. John Burke and Gerry Quin, the team behind the Fiddle and Bow collection, have recently added the well-known Hydro Hotel in Lisdoonvarna to their portfolios. John, who also owns the Armada Hotel and the Armada House, shared the news through social media. In July 2025, 171 Ukrainian refugees were relocated from the West Clare hotel as their contact with the State ended. The hotel had been listed for sale through Savills at €4.75m before it was purchased by the Fiddle and Bow collection. The Irish Independent, 18th May
Clonliffe Road, Dublin 3 Hotel group Dalata has opened its latest Maldron property, with the Maldron Hotel Croke Park officially opening its doors. The property is the company’s 21st hotel in Dublin, and expands the Maldron brand’s presence in Ireland. It brings to 27 the number of hotels operated by the brand in Ireland and the UK. The hotel is located directly opposite Croke Park Stadium at the junction of Clonliffe Road and Jones’ Road, and offers 200 guest rooms, four meeting rooms, a bar and a restaurant. Dalata’s development partners on the project were McAleer & Rushe, which also worked on the Croke Park Hotel for the GAA 20 years ago. The Irish Times, 14th May
Sandwith Street Upper, Dublin 2 Hoteliers Paul and Charles O’Callaghan have secured flexible workspace provider Iconic Offices as occupier for Sandwith Court. The building, which served for many years as the Dublin headquarters of KBC Bank before its exit from the Irish market, will now be operated by Iconic as a flexible workspace. Colliers negotiated the letting of the 65,000 sq. ft property to Iconic Offices on behalf of the landlord, Sandwith Property Unlimited Company. The O’Callaghans’ deal with Iconic Offices comes just four months after their boutique hotel group, The O’Callaghan Collection, paid €12.5m for Montague Court, a 1970s office building off Harcourt Street primed for redevelopment. The price paid represented a discount of about 9% on the €13.2m which had been guided for the property. The Irish Times, 13th May
Hatch Street, Dublin 2 Colliers is guiding €2.5m for numbers 24 and 25 Hatch Street, two interconnecting Georgian buildings. The subject properties are being offered to the market with full vacant possession. Extending to a total area of 5,750 sq. ft, they comprise two mid-terrace, three-storey over-basement buildings of 5,000 sq. ft, together with a two-storey mews of 750 sq. ft to the rear of number 25. The properties are being offered for sale with six parking spaces, accessed via Hatch Place. The self-contained rear mews provides additional flexibility and potential for a variety of uses. The buildings are zoned ‘Z8 – Georgian Conservation Area’ which allows for a range of potential uses, including office, residential, educational and medical (subject to planning permission). The Irish Times, 13th May
Baggot Street, Dublin 2 Project management and cost management consultancy GagaMuller is to establish its headquarters at 76 Baggot Street in Dublin after signing up to rent a full floor extending to 8,048 sq. ft. GagaMuller will employ 70 people at the Dublin office which is close to the Grand Canal. Its new office space can accommodate 80 desks, allowing for the firm’s expansion over the next 12 months as it extends its services to the European and US markets. Property agent JLL organised the Baggot St letting which related to a fully refurbished floor with new boardroom, three meeting rooms, breakout areas and upgraded IT infrastructure. Located within Dublin’s traditional central business district, 76 Baggot Street’s other tenants include Fitbit, Elkstone and BHSM. The Irish Independent, 14th May
Donnybrook, Dublin 4 Colliers has completed the sale of The Warehouse in Donnybrook for its full asking price of €2m following what the agent described as a highly competitive sales process driven largely by owner-occupier demand. The own-door office property attracted significant interest from businesses seeking a headquarters building in one of Dublin’s most established commercial and residential districts. The sale is also seen as a further indication that demand for character-led office buildings has remained resilient despite changing workplace patterns and evolving hybrid working arrangements. Colliers said the competitive bidding process demonstrated that occupiers continue to prioritise location, flexibility and immediate usability when acquiring commercial property in Dublin’s core suburban markets. The Business Post, 15th May
New Ross, Co. Wexford One of the final remaining industrial development opportunities within the Marshmeadows Industrial Hub has been brought to the market. Extending to about 7.68 acres, the brownfield site is being offered for sale by tender through PN O’Gorman, the guide price is available on application. Positioned close to the N25, the site sits less than 2km from New Ross town centre and approximately 2km from Stokestown Junction. The property is zoned for “Port-Related Activities and Logistics” under the current Draft Development Plan 2022-2028, making it suitable for a range of industrial, transport and logistics-related uses. Existing accommodation on site includes office space extending to approximately 1,507 sq. ft, alongside a 1,625 sq. ft garage and workshop building and a warehouse of some 1,432 sq. ft. The Business Post, 13th May
Ireland Industrial & Logistics Market Report Q1 2026 Industrial take-up reached 431,000 sq. ft. in Q1 2026, down from 586,000 sq. ft. in Q1 2025 but well above Q1 2024 levels of 160,000 sq. ft. Activity remains below the five-year Q1 average of 612,000 sq. ft. While occupier demand remains strong, macroeconomic uncertainty and rising costs are prompting more cautious leasing decisions and longer transaction timelines. The quarter’s largest deal saw Evri lease 92,500 sq. ft. at Airport Business Park, marking its entry into the Irish market. Activity was concentrated in Dublin North and the North-East, supported by large-scale deals, while Dublin South-West recorded lower activity. Increased speculative completions pushed vacancy to around 4%, signalling a shift in market conditions. Prime rents remained stable at €14.50 psf. Investment volumes reached €41m across four transactions, representing 9% of overall turnover. Colliers Ireland Industrial & Logistics Market Report Q1 2026, 14th May
Longmile Road, Dublin 12 Quantum Property is guiding €2.1m for a mixed use property located at 60A Longmile road. The property extends to 20,500 sq. ft over two floors. The first floor is fully let to two occupiers generating €150,000 pa (7.14% NIY) while the second floor extending to 11,000 sq. ft is vacant and offers significant asset management and reversionary potential. The property is situated on the south side of the Longmile road linking it directly to the Naas road and M50. Quantum Property Press Release 12th May
Clonee, Co Meath 4.25 acres, which are zoned for residential use, are being offered to the market by Knight Frank at a guide price of €3.25m. The subject property comprises greenfield lands and sits immediately adjacent to Holsteiner Park which is 2km from Clonee. The lands are zoned A1 Existing Residential under the Meath County Development Plan 2021-2027, the objective of which is “to protect and enhance the amenity and character of existing residential communities”. The Irish Times. 13th May
Cherrywood, Dublin 18 DLR Properties (DLRP) is seeking expressions of interest from developers for a holding of 13.3 acres in Cherrywood. The process for expressions of interest in the site known as Town Centre 3 is being handled by QRE on behalf of DLRP, which is a subsidiary of Dún Laoghaire-Rathdown County Council (“DLRCC”). It is being offered to the market with full planning permission in place for 418 apartments distributed across four blocks ranging in height from two to five storeys. Former approval secured in 2023, provides for the construction of 124 studios, 96 one-bedroom apartments, 81 two-bedroom (three-person) units, and 117 four-person units. A proposed amendment to the planning scheme will allow for up to 1,150 residential units to be developed on the site, along with 559,723 sq. ft of other town-centre-type uses. The Irish Times, 13th May
Prosperous, Co. Kildare Sherry FitzGerald Reilly is guiding €7m for a 13.84-acre site located at Curryhills, Prosperous with planning permission for 93 homes. The planning permission will allow 40 three-bedroom semi-detached houses; five three-bedroom detached houses; six four-bedroom semi-detached houses; four four-bedroom detached houses; 10 two-bedroom semi-detached houses; 14 two-bedroom apartments and 14 one-bedroom apartments as well as a dedicated creche facility. It is accessible through Emerson Road, which connects it to Prosperous village centre located 500m away. The Irish Independent, 14th May
Synge Street, Dublin 8 Bannon is guiding €3.75m for the former Christian Brothers’ monastery on Synge Street. The property is located between Grantham Street and South Circular Road. It comprises three main sections including a self-contained three-storey building to the rear. The property extends to a total area of 23,548 sq. ft, excluding a large cellar area and sits on a site of 0.4 acres. The building has 22 bedrooms and several large multifunctional rooms. It has served a variety of uses as well as the monastery including, more recently, as short-term residential accommodation. There are several car spaces in a central courtyard. The property is zoned Z15 under the Dublin City Development Plan 2022-2028. Permissible uses for this zoning include health/medical, residential institution, education, assisted living, sports facility and recreational uses. The Irish Times, 13th May
Cherrywood, Dublin 18 Several US and Canadian ice hockey stars, including former Stanley Cup winners, have emerged as investors in the proposed €250m ice hockey arena for Dublin. The proposed scheme aims to serve as a national hub for winter sports as well as a concert and corporate events venue. It will feature an 8,000-plus capacity arena, expandable to more than 10,500 for big events, and include two Olympic-sized ice rinks. As well as being the State’s first permanent Olympic-standard ice facility, it will also host Dublin’s first professional ice hockey franchise, which aims to compete in the UK league. A planning application for the stadium development, which has the backing of DLRCC, is scheduled to be submitted before the end of July this year. The Irish Times, 13th May
Cork Airport Business Park In Cork Airport Business Park, more than 20,000 sq. ft has been taken up between the sale of 12,000 sq. ft at Building 4600, and the letting of 8,000 sq. ft at Building 2100 to Evumed, who are paying rent in the region of €18psf pa. Knight Frank, who oversaw both deals, did not confirm the sale price of 4600, but it’s understood it was close to the €1.7m guide. The largest building in the park Building 5300, previously occupied by US tech giant IBM is available. The property comprises a modern detached two storey third generation office building with a total gross internal area is 25,115 sq. ft. Internally, the property is fitted to a high standard. Externally the site is landscaped and there is surface car parking. The Irish Examiner, 14th May
Waterford Airport The sod is set to be officially turned on the new €30m construction phase of Waterford Airport. Today’s event will mark a significant milestone in what is planned to be the eventual resumption of commercial flights to and from the southeast of the country. Around 140,000 people passed through Waterford Airport annually during its busiest years but there has not been a regular passenger service at the airport since 2016. The runway will now be lengthened to over 2,200 metres and widened to 45 metres to accommodate large commercial jet aircraft. The series of upgrades will enable the return of commercial passenger services, with a target set of the airport handling upwards of 400,000 passengers annually within three years. The upgrade works are set to be begin immediately following the takeover of the airport by US oil billionaire, Kelcy Warren. RTÉ.ie, 18th May
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Grafton Street, Dublin 2 Savills is guiding €3.4m for Number 2 Grafton Street and 50 Nassau Street. Located at the junction with Nassau Street, the asset comprises a 2,615 sq. ft five-storey over-basement building in a prominent corner position in Dublin city centre’s foremost shopping area. The building is occupied by a diverse tenant mix and is anchored at street level by coffee chain, Starbucks, and by Claddagh Jewellers. The upper floors of the property are home to a number of office and service occupiers. The investment is currently generating total annual rental income of €242,426, and the weighted average unexpired lease term is approximately 6.5 years to break. Should a sale proceed at the guide price, the new owner would stand to secure a NIY of 6.48%. The Irish Times, 6th May
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Blackrock, Co. Dublin Failing to find a buyer for the Frascati Centre in Blackrock when it offered it in a quiet, targeted process for about €100m in 2023, the owners are preparing to offer it for sale on the open market. Cushman & Wakefield and Eastdil Secured will be joint agents and the price is expected to be between €75m and €80m. Acquired by Invesco Real Estate for €68m in 2015, a further €80m was spent on its renovation and extension. The Blackrock property comprises 177,000 sq. ft of retail space and 43,000 sq. ft of residential accommodation distributed across 42 apartments. The scheme is generating an annual rent roll of €6.9m. There is an opportunity to increase the Frascati Centre’s net operating income substantially, with full planning permission in place for the development of an additional 123 rental apartments across two phases. The Irish Times, 6th May
North Dublin Docklands US real estate investor Kennedy Wilson said it has bought out its co-owner in Coopers Cross, a mixed-use development in the North Dublin docklands. The company said in its latest quarterly report that it paid Cain International $24m to buy its 50% stake in Coopers Cross. This resulted in a $16m remeasurement gain for the firm. Coopers Cross is spread across 394,000 sq. ft and includes 471 apartments. The office block was completed early last year. The Business Post, 10th May
Parnell Street, Dublin 1 Cushman & Wakefield is guiding €6.925m, exclusive of VAT for Unit 2 at the Ivy Exchange. Developed by the Cosgrave Property Group in 2006 as part of the wider, mixed-use Ivy Exchange, Unit 2 comprises ground and mezzanine floor accommodation extending to 28,068 sq. ft. The subject property is fully let to Tesco Ireland on a 25-year lease which commenced in November 2007. The current passing rent is €495,000 a year with approximately 6.8 years income remaining until lease expiry. The financial accounts for Tesco Ireland for the year ending February 22nd, 2025, show total sales in the year grew 5.8% with a turnover of €3.445bn. Should a sale of Unit 2 proceed at the guide price, the incoming owner would stand to secure a NIY of 6.5%. The Irish Times, 6th May
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Navan, Co. Meath JD Sports has opened a new store at Navan Town Centre. The European sportswear retailer has agreed a deal to occupy the 7,535 sq. ft which had been left vacant by UK fashion retailer New Look following the liquidation of its Irish operations. JD Sports was represented in the negotiations by Bogle Estates while Cushman & Wakefield and Savills acted as joint letting agents for Navan Town Centre. Developed originally in 1980, Navan Town Centre was extended on a number of occasions between 1995 and 2009. The scheme today extends to 303,383 sq. ft with 1,388 car-parking spaces. Navan Town Centre is anchored by Tesco, Penneys and Dunnes. Other well-known retailers at the centre include Sports Direct, River Island, Boots, Starbucks and Costa Coffee. The Irish Times, 6th May
Killester, Dublin John P Younge is guiding €6m for The Beachcomber, a 6,000 sq. ft landmark bar over two levels located at 179 Howth Road. Turnover is believed to be heading for over €2.7m. At ground floor level its lounge bar extends to 2,938 sq. ft. A kitchen extending to 102 sq. ft is also located at ground level, as are a store, cold room, toilets and an office. At first floor level is a lounge/carvery/restaurant in two sections: one to the front of 1,324 sq. ft while a back section extends to 1,690 sq. ft. At this level a catering kitchen measures a much larger 370 sq. ft and it is complemented by a food cold room. The Irish Independent, 7th April
Laragh, Co. Wicklow McDonnell Properties is guiding €1.5m for a café and delicatessen and a heritage property located in the heart of the Wicklow Mountains National Park. The sale involves the well-established 8,611 sq.ft Glendalough Fayre cafe and shop, and an historic stone house built in 1865 as a Royal Irish Constabulary building. With a long-standing presence in the village, the cafe deli is better known as Glendalough Green or the Glendalough Cafe, with its iconic red signage. Next door is the Royal Irish Constabulary building, which comes with a period slate roof and striking Victorian entrance door and five bedrooms. To the rear, a courtyard leads to a built-in BBQ area. The Irish Independent, 10th May
Sir John Rogerson’s Quay, Dublin 2 Commercial property firm Iput has agreed a long-term lease with Beauchamps LLP at Two Riverside on Sir John Rogerson’s Quay to support the firm’s expansion. Beauchamps has committed to 27,000 sq. ft under a new 10-year lease running to May 2036, extending its existing lease, which had been due to expire in 2030. The Dublin-based law firm will now occupy the entire ground, first and second floors of the building. Other occupiers at Two Riverside include Harvey AI, the legal tech firm, and Interpath. Following the upgrade works, Two Riverside has achieved leadership in energy and environmental design (LEED) operations and maintenance gold certification. Iput said it has secured approximately 100,000 sq. ft. of lettings and lease renewals in 2026. The Business Post, 6th May
Dublin Office Market According to Knight Frank’s Q1 2026 Dublin office market outlook, the squeeze on Dublin’s prime office space is set to intensify this year as geopolitical headwinds spark uncertainty. Knight Frank said the “biggest risk” lies in the lack of development in the city centre. Two buildings were completed in the first quarter of 2026, totalling 163,000 sq. ft, the largest of which was 160 Townsend in Dublin 2. Of the six buildings due for completion during the remainder of the year, three are already pre-let. For 2027, about 60% of upcoming space has already been secured, with “no new space” under construction and due to be delivered after that. Prime rents remain steady, ranging from €65 to €67.50 psf but this is forecast to heighten, with rental growth of €70 psf expected in 2026, and up to €75 for pre-lets. The Business Post, 7th May
Church Street, Dublin 7 Ireland and UK student accommodation firm LIV has agreed to sell its 211-bed student building at Church Street. It is owned by Valeo Groupe, a US-based investment firm with student accommodation facilities across Spain, Scandinavia and the US. According to accounts filed for LIV Dublin Church Street Student Residence Limited, the firm put the property up for sale in 2025 and received an offer from an “unrelated third party”. Directors said it was “probable” the property’s sale would complete in 2026. Although the value of the deal was not disclosed, the company reclassified the property in its accounts as an asset held for sale during the year. Its fair value was reduced by €7.2mn after a revaluation, with the property on the balance sheet at a €37m “sale valuation”. The Business Post, 6th May
Killarney, Co. Kerry An opportunity to develop a hotel on Muckross Road, known as Killarney’s Golden Mile, is being offered for €3m through CBRE Hotels. The vacant site extends to approx. 0.75 acres and is strategically positioned on Muckross Road next to Kerry Brewing Company and 500m from Killarney town centre. A feasibility study indicates that the site has the capacity for a hotel rising from four to six storeys which could accommodate about 150 bedrooms. The sale will be subject to planning permission and that the preferred bidder will be selected on the basis that the bidder’s proposed design for the planning application could offer a viable prospect of achieving planning approval. The site is currently zoned under the Kerry County Development Plan 2022-2028 to support mixed-use general development, including hotel use, indicating favourable conditions for a project of this nature. The Irish Independent, 7th May
Clontarf, Dublin 3 A 1.14-acre residential development site on the Howth Road in Clontarf has been brought to the market with full planning permission for a 65-unit apartment scheme. The properties at 110 and 114 Howth Road are being offered for sale by private treaty through Sherry FitzGerald, with price on application. The existing holding comprises two vacant detached dwellings. Planning permission has been secured for a five-storey residential scheme comprising 65 apartments, including 29 two-bed units, 28 one-beds, five studios and three three-bed apartments. Unit sizes range from approximately 431 sq. ft to 1,130 sq. ft. The scheme incorporates a central landscaped courtyard, rooftop terraces, a crèche and café space, along with 47 car parking spaces and 161 bicycle spaces. The Business Post, 9th May
Kyrl Street, Cork City A Cork city centre riverside site that has been idle for several years is being cleared with a view to redevelopment as part of Cork City Council’s ongoing battle to tackle dereliction. The 0.96-acre site between Kyrl’s Quay and Kyrl’s St near the Bridewell Garda Station was previously earmarked for a major hotel/leisure and apartment project but the development never went ahead. A spokesman for the local authority said the current site clearance and stabilisation work is to “facilitate access to undertake a series of site surveys and investigations to inform project information documents and enable advertisement of a tender process seeking redevelopment proposals”. “It is envisaged this tender will be advertised over the next few weeks,” the spokesman added. In October 2024 Cork City Council posted a notice of its intention to compulsorily acquire the site under the Derelict Sites Act 1990. The Irish Examiner, 7th May
Ellistown, Co. Kildare A 149-acre agricultural holding at Mynagh, Ellistown is being brought to auction, offering a sizeable land parcel within reach of the M7 corridor. The property is being marketed by Coonan Property and will be offered for sale by public auction on June 11 at Lawlor’s Hotel in Naas. Extending to approximately 149 acres in a single block, the lands are currently laid out in seven divisions and have been used for tillage in recent years. The holding also includes a derelict two-bedroom residence and associated farmyard structures, presenting potential for redevelopment subject to planning permission. The farm will be offered in three separate lots: a 48-acre parcel; a 101-acre portion including the derelict residence; and the entire 149-acre holding. The holding is positioned between the towns of Kildare, Monasterevin and Rathangan, with access to the M7 via Junctions 13 and 14. The Business Post, 7th May
Ballymun, Dublin 11 Tuath Housing, the social housing provider, has been granted approval by An Coimisiun Pleanala to develop 446 homes on lands including the site of the former Ballymun flats. The proposed development consists of 28 duplex units and 418 apartment units. The apartments will be a mix of social and cost-rental homes, none of which are to be sold on the open market. Dublin City Council currently owns the land, but has an agreement in place with Tuath whereby the housing body will buy the land from the council after the development is completed. Cairn Homes is the construction partner for the project. The Business Post, 8th May
Newbridge, Co. Kildare Diageo officially opens its new Kildare brewery on Monday as part of a near €1bn investment in its Irish operations. The brewery at Littleconnell, outside Newbridge, represents an investment of almost €300m, 50% more than planned when announced in 2022. Diageo is moving production of all its ales and lagers, Rockshore, Harp, Smithwick’s and Kilkenny, alongside licensed beers such as Carlsberg from St James’s Gate. At full capacity, the brewery will produce two million hectolitres, making it Ireland’s second largest brewing operation after St James’s Gate. The project was originally intended to free up space for expanded Guinness production in Dublin. However, Diageo has since secured permission for a further €400m investment to build a second Kildare brewery dedicated to Guinness and Guinness 0.0 production. Work on that phase is expected to begin this year. The Irish Times, 11th May
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Henry Street, Dublin 1 TWM is guiding €4m (9.6% NIY) for number 35 Henry Street. The property comprises a four-storey over-basement building, extending to a net internal area of 2,671 sq. ft. It is fully let to Three Ireland, which has occupied the property on a 25-year lease since November 2006. The lease is on a full repairing and insuring basis, and the rent is €425,000 per year, with reviews every five years. Three has recently completed a substantial refurbishment of the shop. Three Ireland is Ireland’s largest telecommunications provider, serving more than 1.7m customers. The company, which is owned by CK Hutchinson Holdings, employs approximately 1,200 people nationwide and operates 34 directly managed retail stores. 35 Henry Street operates as a flagship store, with the upper floors used for staff training and wellness. The Irish Times, 29th April
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Naas, Co. Kildare Palm Logistics, an affiliate of the pan-European real estate private equity firm Palm Capital, has struck a deal with DSV Road that will see it deliver a new purpose-built facility of 130,297 sq. ft for the logistics specialist on a 10.9-acre site at Momentum Logistics Park in Naas. DSV Road is the dedicated road-freight division of DSV A/S, a global transport and logistics company headquartered in Denmark. Subject to planning permission, construction of DSV’s new facility is expected to start in the third quarter of this year with completion targeted for the final quarter of 2027. Upon completion, the property will be let to DSV Road on a long-term lease. The proposed unit will include a main warehouse/logistics facility, two-storey management offices and a dedicated yard to support site operations, including segregated HGV movements, trailer standing and staff and visitor parking. The Irish Times, 29th April
Ballymount, Dublin 12 Park Developments’ Logistics Division has completed three significant transactions at their Apex Hub development in Ballymount. Unit 1, extending to 34,000 sq. ft, has been sold to Demesne Electrical, a leading importer and distributor of electrical controls and switchgear. It has also agreed a pre-let of Unit 6 which extends to 45,000 sq. ft. Thirdly, it has sold a site at the entrance to Apex Hub to Costa Coffee which will build a two-level drive-thru cafe there this year. Park Developments is now seeking a tenant for Unit 2 which will extend to around 41,000 sq. ft with construction due to commence in Q3 2026. Joint agents Savills and CBRE are quoting €18.75 psf for this space. The Irish Independent, 30th April
CBRE Q1 2026 Report states industrial occupier demand remained resilient in Q1, however broader macro-driven cost pressures warrant close monitoring. Persistent inflation across energy, labour or transport inputs could temper expansion activity, particularly within the logistics segment. Ireland’s 12-month CPI increased by +3.6% to the end of Q1, from +2.8% at the end of the previous quarter, driven largely by a sharp acceleration in the energy component (+12.9%). Dublin industrial & logistics take-up totalled 424,712 sq. ft in Q1 2026, representing a 28% decline compared with Q1 2025 (588,054 sq. ft). The largest transaction of Q1 was Evri’s 92,484 sq. ft letting at Airport Business Park, reflecting continued demand from last-mile and parcel logistics operators. Demand linked to the data centre sector is becoming an increasingly important component of Dublin take-up.. Prime rents remained stable at €14.25 psf in Q1, having risen by 6% in Q4 2025, bringing cumulative rental growth since Q1 2022 to 24%. Investment activity totalled €41m in Q1, below longer-term quarterly averages. CBRE Dublin Industrial & Logistics Q1 2026
Industrial and Logistics Portfolio Investors Ares and Kennedy Wilson are back in the frame to snap up EQT ‘s industrial and logistics portfolio, with the two underbidders reemerging after U.S. investor Baupost pulled out, Green Street News reported. Baupost had been granted exclusivity to acquire the assets, but the deal fell apart following a significant lowering of the offer from the hedge fund, which vendor EQT rebuffed. EQT Real Estate put its portfolio up for sale last year, with Eastdil Secured and JLL mandated to sell the properties, managed by EQT on behalf of Singapore’s sovereign wealth fund, GIC. It was acquired in 2020 from Morgan Stanley Investment Management, and there are 32 assets in all, totalling around 1.3m sq. ft, including units in Greenogue Business Park and Baldonnell Business Park, with an annual rent roll of circa €13m. Working with partner Palm Capital, Baupost had secured exclusivity to acquire the collection in January, with the agreed price in excess of €215m. However, Green Street reported that sales discussions with two underbidders, Ares Management and Kennedy Wilson, were reignited following Baupost’s exit, with the portfolio expected to go under offer again in the coming weeks. All parties declined to comment. Biz Now, 4th May
Sandymount, Dublin 4 BDM Property is guiding €1.2m for Hillview House, 15D Gilford Road. The 3,725 sq. ft property sits on a 0.19-acre site and currently comprises a mix of commercial and office accommodation, including a vacant street-facing commercial unit to the front and a two-storey office building to the rear which is occupied by two tenants generating €74,000 pa. The tenants plan to leave this coming July. In 2024 the vendor was refused planning permission for the demolition of the two-storey office building and the development of a mixed-use property including four apartments, a cafe and 5,845 sq. ft of office space. However, it was refused because of the inclusion of a 3,800 sq. ft basement car park. An Bord Pleanála pointed out that the site might be more suitable for a car-free development because of its proximity to good transport links. The Irish Independent, 30th April
Tallaght, Dublin 24 A new phase of commercial accommodation has been launched at Tallaght Cross West, as leasing agents BDM Property bring a range of units to market on behalf of I-Res Reit. The units are essentially large format shell and core retail units that would ideally suit leisure or large retail occupiers. The scheme is located opposite The Square Shopping Centre and adjacent to Tallaght University Hospital. The available units range in size from approximately 2,260 sq. ft to 35 ,521 sq. ft, with potential for a variety of uses across retail, leisure, office and medical sectors. Existing occupiers at the development include Aldi, Flyefit and healthcare operators such as Reeves Day Surgery Centre and CRY Ireland. The Business Post, 30th April
Phibsborough, Dublin 7 Twinlite has lodged a planning application to redevelop Phibsborough Shopping Centre into a 150-room hotel with co-working space and a bar and restaurant. The redevelopment will include a nine-storey purpose-built student accommodation building adjacent to where the shopping centre now stands, with 411 beds, study rooms, a gym and communal open spaces across several floors. The application was lodged with Dublin City Council by Stormborn Capital Acquisition Three, a company associated with Twinlite. It details the construction of an additional four-storey mixed use building fronting North Circular Road with a market hall for retail outlets, cafés and restaurants on the ground floor and 23 cost-rental apartments across the first to third floors. The Business Post, 30th April
Cork City RTE is to begin the search for new studios in Cork after abandoning plans to refurbish its existing base in the city. Kevin Bakhurst, director-general of the broadcaster, told staff last week it would seek “alternative premises”. It is unclear if the company will look to sell its southern regional studios, on Father Mathew Street, where it has operated from since 1995. It put the building on the market for €2m in 2024 but later withdrew it as it considered a refurbishment. Between 40 and 50 people work out of the Cork studios. Rising construction prices have driven up the cost of revamping older properties over the past few months. In February, RTE said the estimated cost of refurbishing its Donnybrook campus had risen above a previous estimate of €350m. The Sunday Times, 3rd April
South Frederick Street, Dublin 2 Investment and stockbroking firm Cantor Fitzgerald is to relocate its Dublin headquarter office from its current home at 23 St Stephen’s Green to nearby South Frederick Street. The company has signed a long-term lease for all five floors of Bindery House, the office building completed recently by Hope Street Property. Knight Frank represented the landlord in the transaction while QRE acted for Cantor Fitzgerald. The company is expected to make the move to its new offices by the end of this year. Hope Street Property is understood to have acquired the building early last year. The property was first offered to the market in October 2023 at a guide price of €12m. Now known as Bindery House, the property comprises 30,000 sq. ft of office space and 2,000 sq. ft of external terraces. The Irish Times, 29th April
Canal Road, Dublin 6 Joint agents Savills and FQP are guiding €16m for the fully vacant, former headquarters of the Construction Industry Federation (CIF). The figure represents a 30.4% discount on the €23m the developer Osborne + Co had been set to pay to secure ownership of the building and its 1.24-acre site during Covid. The property’s owners secured planning permission in September 2024 to demolish the existing property and to replace it with Canalside, a new office scheme comprising 146,000 sq. ft of grade-A office space distributed across two buildings of five and eight storeys respectively, along with 65 car-parking spaces. The Canalside site occupies a high-profile position on the banks of the Grand Canal at the intersection of Ranelagh, Charlemont and at the approach to the central business district in Dublin 2. The Irish Times, 29th April
Kilmartin, Dublin 15 Joint agents Knight Frank and Lydon Farrell are guiding €16m for 268 acres at Kilmartin. Situated immediately next to the existing residential areas of Kilmartin itself, and Hollystown, Tyrrelstown and Ongar, the lands, are zoned for agricultural use at present. The location is well connected, with ready access to the N2 and N3 via the new link road, providing direct connectivity to the M3 and M50 motorways and the wider national road network. Dublin Airport is 13km to the east of the lands, while Dublin city centre is approximately 23km away. Fingal consistently records the strongest population growth of any local authority in Ireland, with a populace of more than 330,000, making it the second-most populous local authority in the State. The Irish Times, 29th April
Chapelstown, Co. Carlow Lisney is guiding €9.5m for 33.5 acres located at Chapelstown. The lands are zoned ‘New Residential’ under the Carlow County Development Plan 2022-2028. The site’s potential is evidenced by the fact that it was the subject of a previous grant of planning permission in 2006 for a 275-unit residential scheme. While that development did not proceed, Lisney believes that this original planning permission establishes a precedent for development on the site and reinforces its suitability for residential use. The subject site is located about 2.5km from Carlow town, and has direct access to the N80 national road and ready access to the wider road network, including the M9 motorway. The Irish Times, 29th April
Sandyford, Dublin The Sentinel building in Sandyford will be completed and occupied by the end of next year according its owners, the Comers. In 2022 Dún Laoghaire-Rathdown County Council voted to rezone the Sentinel site, removing the requirement for an office element. Instead, the new county development plan included a “specific local objective” to “facilitate completion of the unfinished block and allow consideration of a maximum of 110 residential units”. In early 2023 the Comers bought the adjoining RB Central site from Ires, gaining permission for the construction of 428 apartments. Later that year they submitted plans to convert the Sentinel to 110 apartments. Sixty would be two-beds with 22 one-beds and 28 three-beds. The council granted permission for the development but with a condition requiring the number of three-bed apartments be increased to a minimum of 40%. Building commenced two years ago, and Sentinel is the last phase of the development. It will be starting early next year and be completed by the end of next year. The Irish Times, 4th May
MSCI / SCSI Index Q1 2026 The latest MSCI/ SCSI IPD index shows key sectors of the Irish commercial property market continued to strengthen in Q1 2026, however values for older offices continued to decline. The strongest performers in Q1 were retail warehouses, Grafton Street investments, newer offices and industrial properties. Retail warehouses continued as the overall star performer returning 3.81% in the quarter to their investors, bringing their 12-month returns to 17.17% on the back of 13.7% rental growth and 9.4% growth in capital values over the 12 months. The sector showed quarterly growth of 2.1%, similar to Q4 2025, in both rents and capital values. Older offices are generating rental growth, albeit a modest 0.3% in Q1 and 1.5% in the 12 months. However, they continue to suffer a fall in capital values, down 1.1% in the last quarter and 39% since Q4 2021. The Irish Independent, 30th April
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Dublin and Galway Two student accommodation complexes in Dublin and Galway are being sold by investment manager EQT Real Estate. Cushman and Wakefield is guiding in excess of €115m for the pair known as Project Galaxy. The Dublin property, trading as Mezzino at Mayor Square in the IFSC, provides 290 bedspaces. It is located adjacent to the National College of Ireland and is a short walk to Trinity College Dublin. The Galway facility, known as Cúirt Na Coiribe, has 434 bedspaces and is located close to the University of Galway and Galway city centre. This premises extends to 160,422 sq. ft and sits on a 3.5 acre site. It also comes with full planning permission for an additional 515 beds which would bring it to 920 net beds upon completion. The Irish Independent, 22nd May
Santry, Co. Dublin Located within the Northwood Campus at Santry Demesne, a site which extends to 0.74 acres is being offered to the market by CBRE with full planning permission for a 170-bed PBSA scheme at a guide price of €3.4m. The sale is being conducted on the instruction of Mark Degnan and Daryll McKenna of Interpath Advisory. The planning permission is arranged predominantly in eight-bed clusters. The development, which secured planning permission in January 2024, also includes study rooms, games rooms, laundry facilities, breakout areas and outdoor amenity space. There is also provision for a creche within the development. The Irish Times, 21st May
IFSC, Dublin 1 Aberdeen is looking to dispose of numbers 3 and 5 Custom House Plaza with TWM guiding a price of €24m. Standard Life paid a similar amount for numbers 3 and 5 two years prior to its 2017 merger with Aberdeen. Located next to Connolly Station, the wider Custom House Plaza development comprises six office buildings, including the two properties now being brought to the market. Numbers 3 and 5 Custom House Plaza extend to a total net internal area of 60,606 sq. ft and have 71 secure basement car parking spaces. Citco Fund Services accounts for 50% of the total annual rental income of €2.65m. Citco occupies the largest floor area, has been in Custom House Plaza since 1998, and recently renewed its leases. Other tenants include FlexiFi Europe Services, Companjon, Maxol and Device Atlas. The combined WAULT is currently 6.49 years to expiry and 3.89 years to break. Aberdeen has undertaken significant investment in the buildings’ office accommodation and has improved the BER rating which ranges from E1 to B1. The Irish Times, 21st May
Clonshaugh, Dublin 17 Savills is guiding €4.6m for an investment at Willsborough Industrial Estate. The property, which comprises a detached warehouse of 29,310 sq. ft on a self-contained 2.2-acre site, comes for sale fully let to Gist Distribution Ltd on a four-year lease extension to April 2027. The property is currently generating annual rental income of €238,000. The tenant has signed a deed of renunciation waiving their renewal rights at the end of the term. The property is well located within the established Willsborough Industrial Estate, with access provided via the IDA Clonshaugh Business and Technology Park. Other occupiers in the area include BT, SolarSmart Energy, Amazon (AWS), DPD, GXO Logistics and Mail Metrics. The Irish Times, 21st May
Little Island, Co. Cork Pepsi’s €127m factory expansion at Little Island is facing a challenge by locals who have appealed Cork County Council’s decision to give the green light to the drink giants expansion with An Bord Pleanála. While some have complained about the height of the development and the impact on property values in the area, others are aggrieved by the current noise levels and the lack of consultation with locals by the drinks giant. Last June, PM Group, the planning consultancy, lodged plans on behalf of PepsiCo to build a new 131,347 sq. ft factory and warehouse, four storeys high, at its site at the Ballytrasna industrial park. The plans are the second part of the company’s extension of its facility and have been met by almost 50 objections at council level. Pepsi has been operating out of the site since 1974. The Business Post, 20th May
O’Connell Street, Dublin 1 Cushman & Wakefield is seeking a buyer for Ulster Bank’s landmark premises at 2-4 Lower O’Connell Street. The building, which occupies a high-profile position opposite the O’Connell monument and next to O’Connell Bridge, is guiding €2.75m. The property, a protected structure, comprises two retail units at ground-floor level with offices and staff facilities overhead. It extends to 20,862 sq. ft over four floors and basement. The building is being sold with vacant possession following the withdrawal of Ulster Bank from the Irish market. The proposed sale follows the phased launch in 2023 of Ulster Bank’s entire branch portfolio. The disposal process included the sale of 45 freehold/long leasehold properties across Ireland. The Irish Times, 21st May
St. Stephen’s Green, Dublin 2 Having paid approx. €10.5m earlier this year for the Stephen’s Green Collection, a retail portfolio comprising numbers 2, 3 and 5 St Stephen’s Green, and a separate mews building to the rear at 7 Anne’s Lane, the Treacy Group has instructed Colliers to offer the properties to the letting market. Previously occupied by the Oasis fashion chain, number 3 comprises a large open-plan ground floor of 4,000 sq. ft. It also features a distinctive triple-height bay window offering views over St Stephen’s Green Park. The former PTSB branch occupying number 2 St Stephen’s Green comprises four floors with a ground-floor area of 1,900 sq. ft. It sits immediately adjacent to the premium fashion retail store operated by REISS at number 1 St Stephen’s Green. The smallest of the available properties is number 5 St Stephen’s Green, a former Coast store extending to 780 sq. ft of split-level ground-floor trading space with additional accommodation at basement and at three upper levels. The Irish Times, 21st May
Retail Parks Marlet is on the cusp of a deal for its €120m portfolio of three retail parks after receiving ten initial bids. Four international companies were shortlisted in the first round of proposals last week: Realty Income Reit, Iroko Zen, Corum Asset Management and Sienna Investment Managers. All four have been buying up retail parks around Europe, including in Ireland. In March, Realty Income completed its deal to buy eight retail parks from Oaktree Capital in a €220m deal. Iroko Zen paid nearly €25m for Kilkenny retail park last year, not long after Corum bought Mahon Point retail park for €50m. Sources say bids for Marlet’s portfolio were in excess of the asking price and that the three parks would be sold in one lot. A best bidder will be selected imminently. The three parks comprise Belgard retail park in Tallaght, M1 retail park outside Drogheda and Poppyfield retail park in Clonmel. The Louth Park also comes with 22 acres of adjoining development land. Marlet paid €78m for the parks in 2021 and carried out upgrades on all three. The Sunday Times, 25th May
Lisdoonvarna, Co. Clare A hotel known globally for its match-making tradition, the Hydro Hotel, in Lisdoonvarna is being sold by tourism entrepreneur Marcus White. Savills is quoting €4.75m for the three-star venue which accommodates 113 bedrooms as well as a large function room for music and events and additional nightclub space. It is located on 1.8 acres which includes on-site parking, tennis courts and a lawn. The Hydro is being sold with vacant possession. The Irish Independent, 22nd May
Dalata Ireland’s largest hotel group, Dalata, is attracting attention from some of the world’s biggest private equity buyers. Last week the property website Green Street News reported that private equity buyers Starwood Capital, Davidson Kempner, TPG, Apollo, Bain and KSI submitted initial bids for the company. The Sunday Times reported this month that Dalata had opened its books to potential buyers, with its advisers Rothschild setting a deadline of May 1st for initial proposals and expecting a deal to be concluded before the end of the summer. Green Street News said sources close to the process estimated that bidding would reach in the region of €1.6bn, higher than Dalata’s current market cap of €1.23bn. The group owns the Maldron and Clayton hotel brands. The Sunday Times, 25th May
Baldoyle, Dublin 13 Knight Frank is guiding in excess of €10m for a site of approx. 12.6 acres which benefits from excellent sea views over Baldoyle Bay and Portmarnock Beach. The site benefits from an extant planning permission for the development of a 150-bed hotel and a 150-bed retirement home with respite care. The 150-bed hotel is set out over three floors and includes an attractive F&B offering together with extensive spa, gym, swimming pool and conference facilities. The accommodation is broken down into 134 bedroom and 16 suites. The retirement home is a part two storey / part three storey building set out to include respite care and comprises 150 ensuite bedrooms, medical facilities, consultant rooms, outpatient treatment rooms and physiotherapy rooms. The site benefits from approx. 280 metres of frontage to the Coast Road and approx. 150 metres of frontage to Red Arches Road. The site adjoins the extensive Baldoyle Racecourse Park. Knight Frank Press Release, 22nd May
Swords, Co. Dublin The former Emmaus Retreat Centre in Swords is being offered to the market by Bannon guiding €12m. The Centre extends to a gross internal area of 59,574 sq. ft and comprises 72 bedrooms, catering and meeting/conference facilities, along with a former church. While an application by the Christian Brothers in 2022 to have the Emmaus Retreat Centre and its 16.6 acres of grounds rezoned for housing under the Fingal Development Plan 2023-2029 was unsuccessful, the property’s positioning between the fast-growing town of Swords and the M1 motorway should ultimately see it being used for residential purposes, subject to planning permission. The Emmaus Centre is situated close to Estuary station, the proposed northern terminus stop on the planned Metrolink. Estuary station is also proposed to feature a 3,000-space multistorey park-and-ride facility. The entire 16.6-acre site is currently zoned MRE – Metro and Rail Economic Corridor and is categorised as an “accessible location” on the planned line. There is potential to add further accommodation, subject to planning permission. The Irish Times, 20th May
Baggot Street, Dublin 2 The former Baggot Street hospital building in Dublin is to be sold by the HSE on the open market as no State agency wanted to take it over. However, part of the complex, off Haddington Road, has been earmarked as the site of a new primary care centre for the south Dublin inner city. The facility, which was known officially as the Royal City of Dublin Hospital, was built in 1832 but closed in 1987. Parts of the premises, at the Haddington Road junction with Baggot Street, were used as a drug treatment and community facility until 2019. The HSE said it planned to split the former hospital site into two sections. It said one portion of the site, off Haddington Road, adjacent to the former Baggot Street Hospital building, had been identified as a suitable location for the development of a primary care centre to serve the south Dublin inner city area. The HSE said the remainder of the site was registered as surplus to requirements on the Office of Public Works Inter State Property Register and had been available for acquisition by other State entities. The Irish Times, 26th May
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LaTouche House, IFSC CBRE is understood to be guiding €25m for LaTouche House. The price tag represents a 70% discount on the amount paid five years ago by Axa IM Real Assets and BCP to secure the property. Developed in the early 1990s as one of the first buildings in Dublin’s then fledgling financial services district, the 92,000 sq. ft office block had commanded a valuation at its peak of some €100m in 2007. In 2013, in the wake of the global financial crisis, it was sold by a group of private investors for €35m. Three years later, and with Ireland’s economic recovery firmly under way, the building’s Luxembourg-based owner accorded it a value of €70m. Credit Suisse put the property on the market for €95m in 2019 and secured its sale to Axa IM Real Assets and BCP for €84m in February 2020. The acquisition of the building was backed by a debt facility provided by Bank of Ireland, who had acquired the property in shell condition for its own use for €38m in 1993. The Irish Times, 14th May
St. Stephens Green, Dublin 2 The landmark headquarter office of Dublin law firm, Ivor Fitzpatrick & Co, is being put up for sale following a decision by the company to relocate. The property, which occupies a pivotal position at the junction of St Stephen’s Green and Hume Street, is being offered to the market with the benefit of full vacant possession by Knight Frank at a guide price of €10m. Built in the early 1970s, 44/45 St Stephen’s Green comprises a modern concrete structure behind a mock-Georgian facade. The building, which extends to a net internal area of 16,830 sq. ft, has a mix of open-plan and cellular offices over six floors, with typical floor plates of approx. 3,150 sq. ft. The property has 15 car-parking spaces. The Irish Times, 14th May
Cork Airport Business Park, Co. Cork. CBRE has brought two units to market in Cork Airport Business Park, buildings 6400 and 6700, for a combined €10.75m. CBRE is guiding €6.75m for Building 6400 which is fully let to Amazon. Building 6400 is 45,000 sq. ft and at a current rent of €756,888, reflects a return of 10.2% on a lease which expires in September 2027. Also put up for sale is building 6700, let to Red Hat, an IBM subsidiary, and which is priced at €4m. Building 6700 is 25,839 sq. ft, and is let under three separate leases at a combined annual rent of €412,550. These leases run until February 2028, and at the guide offer a NIY of 9.4%. The properties, which were constructed in 2006, have a B3 energy rating. The Examiner, 14th May
Brittas Bay, Co. Wicklow The Conlan family is nearing the purchase of the European Club golf course in Brittas Bay in a deal believed to be worth €50m. The course sprawls across 200 acres of prime beach front dunes overlooking the Irish Sea. The deal, handled by Sotheby’s International Realty, was guided at €35m but is likely to sell for closer to €50m, it is understood. Lisney confirmed the sale was underway but would not comment on the value of the transaction. The package includes the championship links, a clubhouse with panoramic views, three private homes, and nearly a mile of sea frontage. The Ruddy family, who have managed operations since the club’s founding, will officially vacate the property on June 18. With just 80-odd members, the European Club has remained deliberately exclusive, but the new owners now face the choice of preserving its boutique charm or expanding its commercial footprint. The Business Post, 16th May
Waterville, Co, Kerry The iconic Butler Arms Hotel has been launched for sale through JLL with a guide price in excess of €6m. The move comes under the instruction of joint receivers Ken Fennell and Brendan O’Reilly, following the recent receivership of Butler Arms Hotel Limited. Nestled between the world-renowned Waterville Golf Links and the exclusive Hogs Head Golf Club, the hotel occupies a prized 1.3-acre beach-front site. Currently comprising 36 guest rooms, a popular restaurant, and the historic Fisherman’s Bar, the hotel offers uninterrupted views over Ballinskelligs Bay. The Business Post, 18th May
Trinity Street, Dublin 2 Grand Coast Capital is seeking €3.5m through Cushman & Wakefield for number 13 Trinity Street. Located at the junction of Andrew’s Lane and Trinity Street, the property comprises a part-two-storey, part-four-storey building extending to 8,353 sq. ft over basement level. While the outdoor-clothing brand Trespass currently occupies part of the ground floor under the terms of a licence agreement generating €36,000 pa plus 10% of annual turnover, vacant possession is available at short notice. Planning permission was granted by Dublin City Council (“DCC”) in November 2023 for the development of a 30-bedroom hostel comprising 198 bed spaces. The permission allows for a refurbishment of the existing four-storey building with the addition of a new eight-storey over basement building to the rear of the site. The hostel’s bedroom sizes range between 108 sq. ft and 540 sq. ft, with typical hostel facilities located at ground and basement level. The permission also provides for a standalone bar and restaurant area with seating for 63 customers. The property was originally offered to the market early last year at a higher guide price of €4m. The Irish Times, 14th May
Hotel Planning, Dublin 2 An Board Pleanála (“ABP”) and Dublin City Council (“DCC”) issued separate refusals to plans by Eamon Waters’s Sretaw Hotel Group for two hotel projects in the city centre. In one decision, the appeals board refused planning permission for a 61-bedroom hotel close to St Stephen’s Green. It included plans for a new eight storey hotel on a site known as Textile House on Johnson’s Place and Clarendon Market opposite the Grafton Hotel in Dublin. The development was to be an extension to the 127-bedroom Grafton Hotel. Separately, DCC has refused planning permission to Mr Waters’s Peachbeach UC for a 113-bedroom hotel on Baggot Street Lower as it felt the scheme would cause serious injury to the special architectural character of the Georgian area. The Irish Times, 16th May
Swords, Co. Dublin Bannon is guiding €4m (8.5% NIY) for a mixed-use investment just off Main Street. Burgundy House and Burgundy Court comprise two mixed-use blocks consisting of four apartments, seven retail units, six office/trade units and 40 underground car spaces. The investment is currently generating a combined annual rental income of €377,000. The property is let to five tenants with several units let at below market rents, representing strong reversionary potential. The subject property extends to a net internal area of 21,960 sq. ft across the two buildings. Burgundy House benefits from direct access off Swords Main Street to a courtyard which is home to a variety of retail units. The remaining retail elements front onto Fosters Way with the upper floor comprising office and retail occupiers. Burgundy Court has a single retail unit (Polonez) at ground-floor level with a mix of retail services, office and the four residential unit on the upper floors. The Irish Times, 14th May
Naas Road, Dublin 12 JLL is guiding €8.5m for an industrial unit at Muirfield Drive. The subject property, which extends to approximately 40,000 sq. ft and sits on a site of 2.5 acres, is currently fully let to Hevac Limited and The Tube Company of Ireland Limited, both of which are wholly owned by Wolseley. The property is occupied on a 10-year lease from June 30th, 2022, and is generating an annual rent of €525,000. The investment benefits from index-linked rent reviews with CPI adjustments, with a new adjustment scheduled for January 1st, 2029. The Irish Times, 14th May
Blanchardstown, Dublin 15 Clyde Real Estate has retained Harvey to find an occupier for the industrial space in Clyde House at Blanchardstown Business & Technology Park. Extending to 63,000 sq. ft, the available accommodation comprises the ground floor of a wider 175,000 sq. ft holding on 6.5 acres that includes corporate offices and extensive car parking. The industrial space has recently undergone a significant refurbishment and has its own dedicated entrance which leads to a secure and gated service yard. The subject property is available for immediate occupation on flexible lease terms and the quoting annual rent is €630,000. Clyde House is on a high-profile site within Blanchardstown Business and Technology Park. Key operators within the scheme include Amazon Web Services (AWS), Equinix, Innalabs, Donnelly Fresh Foods, Ipsen Manufacturing Ireland and The Jelly Bean Factory. The Irish Times, 14th May
Coolough Road, Galway City An appeal has been lodged to ABP this week against the approval of a major student accommodation proposal. Residents have appealed to the planning authority following Galway City Council’s decision to grant permission for an 84-apartment development on Coolough Road back in April. The development would comprise of seven blocks of apartments, providing for a total of 586 bedspaces and be located near the junction of the Coolough Road and the Dyke Road. The project, initially lodged by McHugh Property Holdings Limited, was approved despite a raft of submissions against it. The apartment blocks would be located across the road from another student accommodation development of 257 bedrooms that also recently received planning permission from ABP. The proposed accommodation scheme is arranged in seven blocks ranging from four and five storey buildings. The Irish Independent, 16th May
Dun Laoghaire Rathdown DLRCC Councillors approved the building of a new 80-home development in Leopardstown in south Dublin. The 80-unit development of duplexes and apartments is earmarked for a site bordered by the M50 to the north and Leopardstown Road to the south, opposite the Leopardstown Rise housing estate. The development will include a mix of social and affordable units. Councillors who approved the scheme were told the development is one of some 16 housing schemes in various stages of progression. The largest of the pipeline of housing projects is a scheme of 597 social and affordable homes currently under way at Shanganagh Castle, Shankill. The next largest is a development of 300 proposed for Ballyman, near the Co. Wicklow border, which is at preliminary design stage. A further development of 129 homes earmarked for Blackglen Road in Sandyford is also at preliminary design stage, as are 100 homes proposed for a site at Lehaunstown, near Cabinteely. Councillors at Monday night’s meeting were also supplied with a report in which it was revealed the council received 640 applications for just 30 three-bedroom homes at Woodbrook, Shankill. The application portal was open for three weeks in April. The Irish Times, 13th May
New Homes The number of new homes commenced so far this year is almost eight times lower than by this time in 2024 and is now at its lowest level since 2016, new figures show. Latest commencement data from the Department of Housing shows 3,945 notices to commence work on new homes have been lodged so far this year. This compares to 30,689 for the same period last year. A commencement notice is sent by a landowner to the local authority as a signal of their intention to begin building on a site for which they have received planning permission. It does not mean construction has started, though once the notice is validated by the council work must begin within 28 days of it being filed. Comparing the data for the first four months of several years shows there were 9,928 notices lodged in that timeframe in 2023, 9,343 in 2022, 7,611 in 2021, 7,892 in 2020, 8,523 in 2019, 6,300 in 2018, 5,480 in 2017 and 3,735 in 2016. The Irish Times, 19th May
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Ashtown Gate, Dublin 15 Savills is guiding €20m for two office blocks in which the Government is the major tenant. Blocks A&D Ashtown Gate are generating €1.82m in combined annual income which would equate to a net initial yield of 8.20%. The larger Block D contributes 72% of the total income and is let under a single lease to the OPW, with 5.4 years remaining to the break option and 12.4 years to the expiration of the lease. Block A is leased to the HSE as office and medical use, and to electricity provider Energia. The office buildings extend to 70,532 sq. ft and 23,150 sq. ft, and come with 226 car-parking spaces. Savills is also willing to accept offers for separate sales and is guiding €15.25m for Block D and €4.75m for Block A, which are located at a high profile location facing the N3 roadway. The Irish Independent, 8th May
Kevin Street, Dublin 8 CBRE has brought the Camden Yard development site to market for around €90m on behalf of the Receivers. In September 2019, Westridge Real Estate acquired the 3.6-acre site, paying €140m. The original development plan included four Grade A office blocks totalling more than 600k sq. ft, circa 300 apartments and around 7,500 sq. ft of retail and dining space on the ground floor. A further €65m was spent on excavation and construction on the project, which was estimated to have a gross development value of €475m. Westridge’s acquisition was backed by several New York-based high net worth family offices, and debt for the deal was provided by Fairfield Real Estate Finance and BentallGreenOak. In December 2024, BentallGreenOak appointed Grant Thornton as Receiver. Main contractor Bennett Construction initiated legal proceedings in January, claiming nearly €8m in unpaid fees. Bisnow, 12th May
Rathfarnham, Dublin 14 Clarendon Properties has instructed Cushman & Wakefield to find a buyer for Nutgrove Retail Centre. Having paid a total of €12.8m in 2015 to acquire both the Nutgrove Retail Centre and the mixed-use Beacon South Quarter in Sandyford, Clarendon is offering the Rathfarnham scheme to the market at a guide price of €11.8m (6.5% NIY). Nutgrove Retail Centre extends to 43,659 sq. ft of retail warehouse accommodation along with 200 surface customer car-parking spaces. The scheme comprises four interconnected retail warehouse units and is anchored by Home Store & More. Other occupiers include Dealz, Pet World and Pat McDonnell Paints. Each unit comprises open-plan retail warehouse accommodation and ranges in size from 4,179 sq. ft to 28,766 sq. ft. The total current rent achievable is €842,934 inclusive of top-ups and the WAULT is 6.2 years to break options and 10.1 years to expiry. The Irish Times, 7th May
Westmoreland Street, Dublin 1 The UK master franchise holder for Popeyes, a US fast-food brand, plans to open its first outlet in Dublin. Late last month, a company owned by Popeyes UK, PLK Chicken Ireland Limited, submitted a planning application to Dublin City Council (“DCC”) seeking permission to develop a unit on Westmoreland Street. Last year, Popeyes opened an outlet in Belfast’s Lesley Forestside Shopping Centre, marking its first restaurant on the island of Ireland. Popeyes arrived in the UK in November 2021 and now has more than 65 British sites with an annual sales run rate of £150m. Popeyes was founded in 1972 in New Orleans and now has more than 4,000 restaurants around the world. The Sunday Independent, 11th May
Harcourt Street, Dublin 2 Having secured the highest price paid for a pub in the Dublin market in 2022 with the €5m sale of 4 Dame Lane, publican Paul Keaveny has instructed Lisney to find a buyer for The Odeon, which is being offered to the market as a going concern at a guide price of €6.5m. Developed originally in 1857, the building served as the terminus for the Harcourt Street railway line between Dublin and Bray until its closure in 1959. The venue itself is laid out over two principal levels and comprises a main bar alongside three additional bars at ground-floor level (capacity 650), together with the Bourbon Bar at first-floor level (capacity 200). The two floors can accommodate multiple events simultaneously and have an overall capacity of 850 guests. The Irish Times, 6th May
Killaloe, Co. Clare Savills is guiding €3.5m for the Killaloe Hotel & Spa. The property, overlooking the River Shannon and Lough Derg, comprises a well-established and successful boutique hotel with 35 guest bedrooms and a full range of onsite amenities. Apart from its guest accommodation, the Killaloe Hotel & Spa also features a large bar and restaurant overlooking Kincora Harbour and the River Shannon; a popular wedding venue with a spacious function room; a new spa with six treatment rooms and suites, and extensive grounds with surface parking. The hotel offers the prospective purchaser the potential to add 20 guest bedrooms, subject to planning permission, according to the agent. The Irish Times, 6th May
Clonskeagh, Dublin 14 A Bain Capital vehicle, Harley Issuer DAC, is seeking planning permission for 439 purpose-built student bed spaces for the former Smurfit Paper Mills site at Clonskeagh. The beds will be across five blocks from one storey to part seven storeys along with 16 apartments. The Large Scale Residential Development (LRD) also includes the extension and renovation of 14 existing homes at Clonskeagh Road. A report with the application states that excluding overseas students, the total UCD student population is currently 37,899. An accompanying planning report by consultant John Spain states that the proposed PBSA scheme, “will fulfil an identified need for student accommodation for UCD” and “represents a suitable form, design and scale of development for this strategically located underutilised site, which will provide for an effective and efficient use of this site which is highly accessible and well served by public transport”. The Irish Times, 9th May
Keypoint & Rosemount Business Park, Dublin 15 Units 1 to 4 at Keypoint Business Park and Units 7 to 9 in Block 31 Rosemount Business Park are being offered for sale through Harvey with a single tenant in place, and in one or more lots at an overall guide price of €4.75m. Units 1-4 Keypoint Business Park comprise 22,185 sq. ft of 10.3m high industrial/warehousing space with ancillary three-storey offices. Units 7, 8 & 9 at Block 31 Rosemount Business Park back on to the units at Keypoint and comprise 15,748 sq. ft of 8.1m high industrial/warehousing space with ancillary two-storey offices. Isopartner Technical Insulation Solutions Ltd leases the various units under three long leases in Keypoint and one long lease in Rosemount. All of the leases expire on August 31st 2031, and each lease is due for a rent review in 2026. The units are under-rented, according to the agent with a current annual rent roll of €315,775. The estimated rental value is €375,000 pa. The Irish Times, 7th May
Magheramore, Co Wicklow Wicklow County Council (“WCC”) has purchased 21 acres of land at Magheramore after the successful bidder at a recent auction for the site pulled out of the deal. A BidX1 auction for the beachside parcel of land took place on March 27th and saw three bidders, including WCC, battle it out, before it was sold to an unnamed bidder from China for €613,000, which was in excess of the €550,000 asking price. However, after the successful bidder decided not to proceed with the sale, the council was given the opportunity to complete the purchase of the important coastal amenity. The Irish Independent, 7th May
Terenure, Dublin 6W Lioncor has lodged revised proposals for its planned 284 residential units for lands at Terenure College aimed at overcoming DCC’s previous refusal. The scheme comprises 265 apartments and 19 four bed houses with the apartments located across four blocks with one block rising to six storeys. The council previously refused planning permission after concluding that it had “failed to demonstrate that the range of travel needs of the future resident population can be met by the proposed development”. As part of the revised proposals lodged with An Bord Pleanála as part of a first party appeal against the Council refusal, Lioncor is now proposing 38 additional car spaces for residents and An Bord Pleanála is now inviting submissions from local residents on the fresh proposals over the next five weeks. The Irish Times, 8th May
STAR scheme No private developers have drawn funds from a €750m state scheme set up to stimulate construction of 4,000 affordable homes. The Secure Tenancy Affordable Rental (STAR) scheme was launched in July 2023 and aimed to deliver 4,000 new cost rental homes by the end of 2027. The scheme provides an equity investment to private builders and approved housing bodies for the acquisition and development of homes if they are made available for rents at least 25% below the market rate. Companies such as Ires Reit and Cairn Homes have warned the scheme is not fit for purpose because the subsidy appears as debt on a company’s balance sheet. New data shows the only eight successful applications for the scheme were from the LDA, the state-controlled and funded affordable housing developer. The data showed €185.3m of the €750m total has been allocated to the LDA to deliver 1,423 cost rental units. A spokesman for the Department of Housing said the scheme is “on track to deliver against its targets”. The Business Post, 11th May
Dublin Industrial Estate, Dublin 7 Uisce Eireann has warned DCC over worsening water and sewage capacity that could jeopardise the local authority’s plans for a new suburb of 6,000 homes on one of the capital’s largest industrial estates. Water capacity for Dublin has deteriorated to “amber status” level, Uisce Éireann told the council, meaning supplies are now constrained. The utility company also said future population growth in Dublin is dependent on the construction of a new municipal sewage plant. Uisce Éireann wrote to the council in response to the draft Ballyboggan Masterplan, which will govern the redevelopment of the 190 acre Dublin Industrial Estate opposite Glasnevin Cemetery. Uisce Éireann said housing growth for Dublin is dependent on the delivery of two large-scale water and wastewater projects, which have been long delayed and are not now expected to be in place within the development plan timeframe for the Dublin Industrial Estate. Uisce Éireann chairman Jerry Grant recently told a Royal Institute of Architects of Ireland conference that the State‘s water and sewerage systems “are in a desperate state” because of “extraordinary complacency” and “passive indifference”. He warned that a new approach from the Government was needed if targets of 50,000 homes annually are to be met. The Irish Times, 12th May
Bettystown, Co. Meath Strong demand for Irish trailer parks was reflected in the bidding for Bettystown Caravan Park, which was bought in recent days by another Irish caravan park operator. The McDonough family, who owned and operated the Bettystown park since 1979, are believed to have sold the business for well in excess of the €4m guide price quoted by their agent CBRE. Unlike many caravan parks which accommodate holiday makers, this park generates year-round income from renting out its 285 pitches to caravan owners, many of whom live there throughout the year. As well as being located in the heart of Bettystown village, it is only 300m from Bettystown beach which stretches 5km from Mornington bordering Co Louth to Laytown, Co Meath. The park benefits from proximity to commuter rail and bus services to Dublin and the nearby town of Drogheda. Although the 11-acre site is surrounded on three sides by residential development including four-storey apartment buildings on one side, it is not considered to have development potential in the near future because of the nature of the tenancies with the caravan owners. The Irish Independent, 8th May
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Kilkenny & Limerick JLL has brought Project Abbey to market and is guiding €50m for it. Project Abbey is a provincial Irish hotel investment portfolio comprising two of Ireland’s regional city centre hotels, the Kilkenny Ormonde Hotel and the Absolute Hotel in Limerick, along with a substantial multi-storey car park. Spanning a total of 217 keys across the Ormonde Hotel and the Absolute Hotel, this portfolio provides investors with a robust in-place cash flow and the potential for further development and revenue enhancement. Notably, the offering also includes the 725-space Ormonde Street Car Park in central Kilkenny, one of the largest facilities of its kind in the city. Annual portfolio revenue exceeded €15m in 2024, with scope for incremental growth in the years ahead. The Business Post, 4th May
Leopardstown, Co. Dublin The Loyola Group is selling one of south Dublin’s best-known hostelries, The Lep Inn, with BDM guiding €7.25m for its sale. Located on Brewery Road in Stillorgan, it is a two-storey premises extending to 14,250 sq. ft with a feature circular glazed bar fronting Brewery Road. Its accommodation includes a number of bars, catering kitchen and the Grape & Grain off-licence. On the first floor there is a self-contained function room with a roof terrace and bar, secondary kitchen, offices for 22 people and a conference room and stores. Outside, there is parking for approximately 75 cars. The Lep Inn occupies a site area of 0.91 acres which is zoned Neighbourhood Centre under the DLRCC Development Plan 2022-2028. The Irish Independent, 1st May
Whitehall, Dublin 9 The Viscount Pub in Whitehall has come to the market with Lisney guiding in excess of €1.85m for it. Owned and operated by the O’Connell family since 1989, The Viscount is positioned on the busy Swords Road. The premises extends to two floors over a basement. Its approx. 2,300 sq. ft ground floor accommodates both a public bar and lounge bar. The approx. 2,230 sq. ft first floor is occupied under a licence by Golden Palace Chinese Restaurant. A basement extends to approx. 800 sq. ft. Externally, the property enjoys six off-street car-parking spaces partly held under an occupational lease and partly used as external patio seating with scope to expand. The Irish Independent, 1st May
Kill, Co. Kildare The Club Hotel at Goffs in Co. Kildare is planning to invest €7m in an expansion of the site near the famous global horse auction house. Last week, a company-linked to the owners of the hotel submitted a planning application with Kildare County Council for the expansion. The significant plans would see a new 25-bed extension to the site, as well as a standalone spa area with sauna, steam room, pool and treatment rooms. The hotel will become part of Voco Hotels, the premium boutique brand of Intercontinental Hotels Group. The Voco deal is a “marketing franchise agreement” and not an acquisition or investment by IHG which means The Club must maintain certain standards and will recognise IHG’s member points. The Irish Independent, 5th May
CBRE 2025 Report projects continued growth in demand for Dublin hotels, driven by high occupancy, limited supply, and strong economic fundamentals. Occupancy exceeded 80% in both 2023 and 2024, spiking above 90% on major event nights. Domestic visitors account for 62% of hotel stays, and 30% stem from corporate travel. Population is projected to grow from 5.4m (2025) to 5.7m (2030), and Dublin employment from 988,000 to 1.1m. Despite 3,772 rooms under construction, planning restrictions and high costs limit new supply. Tourism contributed €19.3bn (5% of GDP) in 2023, and with global air travel expected to double by 2042, lifting Dublin Airport’s passenger cap is critical. Investors are increasingly drawn to hotels, with €900m in transactions in 2024, the highest since 2006. The Future of Demand for Dublin Hotels Report, 30th April
Molesworth Street, Dublin 2 Numbers 34 and 35 Molesworth Street are being offered to the market by CBRE at a guide price of €7m. The properties extend to a net internal area of 13,963 sq. ft. Number 34 comprises a modern five-storey building, rebuilt in the early 1990s, with a traditional Georgian-style facade. Number 35 meanwhile retains many of its original period features and is capable of being subdivided or let on a floor-by-floor basis. Number 34 comes for sale with vacant possession while number 35 has a short-term lease in place. The property has the benefit of nine surface car-parking spaces and of easy access to numerous public transport links, including the Luas, Dart and a wide range of Dublin Bus services. The Irish Times, 30th April
Sunday’s Well, Cork City Plans were lodged this week for a proposed major 957-bed student accommodation development at the long derelict Good Shepherd Convent. Bellmount Good Shepherd Ltd plans to build 274 apartments across eight blocks on the 7.8-acre site. The site would be roughly 1.5 km away from the UCC main campus. It was formerly an orphanage and Magdalene laundry, and was added to the local authority’s derelict list in 2019, valued at €1.8m. A blaze earlier this month was the sixth in the past few years, with residents and councillors repeatedly calling for action to bring the site back to life. The property has passed hands on multiple occasions after it was purchased by UCC in 1995. Most recently, it was sold by Cairn Homes to Moneda Developments Ltd in 2016 for an estimated €1.5m. Moneda received planning permission in December 2017 to build an 182-apartment development on the site. This did not happen, and permission for the apartment complex expired in December 2023. Moneda has now given consent to Bellmount Good Shepherd Ltd to lodge the planning application on its lands. The Currency, 30th April
Park West, Dublin 12 M7 Real Estate is seeking an occupier for a newly refurbished industrial facility at Park West business park. Unit 43, which extends to 21,873 sq. ft, will be ready for tenant fit-out in the third quarter of this year and is quoting an annual rent of €349,000 through Harvey. The property will have an A3 Ber rating following the completion of the landlord’s programme of works. The building comprises light industrial/warehouse space of 18,137 sq. ft and 3,736 sq. ft of two-storey offices and staff facilities. The property’s office accommodation has curtain-wall glazing while the warehouse features two dock levellers and one level-access door within a fenced, enclosed site. The offices are being given a full overhaul with new ceiling grids, lighting, air-conditioning system and floor coverings throughout. M7 is also investing in new mechanical and engineering infrastructure for the property. The Irish Times, 30th April
Mountjoy Street, Dublin 1 Sartini Court, a portfolio of 27 apartments and three commercial units in Dublin city centre, is being offered to the market by agent Colliers at a guide price of €8.75m. Producing gross annual income of €515,000, the property comprises 25 two-bedroom and two one-bedroom apartments distributed across a mix of five and six-storey buildings around an open-air courtyard and above a basement car park. Sartini Court sits just 200m from the Luas green line stop at Dominick Street and a short walk from O’Connell Street. The scheme’s three ground-floor commercial units, extending to 4,150 sq. ft, are vacant, and could potentially be converted into additional residential accommodation, subject to planning permission. The portfolio’s rental income is expected to increase to €570,000 following the letting of the scheme’s two vacant apartments and the completion of some outstanding rent reviews. The Irish Times, 30th April
Balbriggan, Co. Dublin Grimes are guiding €18.75m for approx. 37.5 acres of zoned residential development lands in Balbriggan (€500,000 per acre). Balbriggan is one of Irelands fastest growing towns with the lands located within the Flemington Local Area Plan, adopted in December 2024 by Fingal County Council. The subject site is currently in agricultural use but located close to Balbriggan town centre and its full range of retail, educational and recreational amenities. Grimes Press Release, 30th April
Dun Laoghaire, Co. Dublin Fitzwilliam Real Estate is seeking €5.25m for a site with full planning permission for 74 build-to-rent apartments. The 0.8-acre site is located to the rear of St Michael’s Hospital on Crofton Road and currently comprises an operating car park on a short-term licence agreement and a two-storey dwelling. The existing planning approval provides for 74 rental apartments consisting of a mix of 55 one-bedroom units and 19 two-bedroom units along with one commercial cafe unit over two buildings with heights ranging from four to eight storeys. The subject site’s development potential could yet increase should an alternative strategic housing development application for 102 rental apartments, currently before An Bord Pleanála, be approved. The €5.25m price being guided by Knight Frank represents a 19% reduction on the €6.5m which had been sought when they last offered the site to the market in 2019 without planning permission in place. The Irish Times, 30th April
Bray, Co. Wicklow Savills is guiding a price of €2.25m for a site with full planning permission for the development of 24 apartments on Church Road. The 0.82 acre Westwings site secured approval in June 2024 for 12 three-bedroom duplexes, six two-bedroom apartments and six one-bedroom apartments. Westwings currently comprises a greenfield site and frontage of 33m on to Church Road. The property is well connected by public transport, with several Dublin Bus routes operating on nearby Vevay Road. Bray Dart station is a 20-minute walk away. The Irish Times, 30th April
Cloyne, Co. Cork A 7.5-acre land parcel in Cloyne, zoned for housing and on the market with a €2.4m guide price, is attracting interest from developers. On sale through Sherry FitzGerald O’Donovan, the land is currently being used for agricultural purposes. Buildings in one corner of the site, where there is road frontage, include a cottage and a farmyard with crop sheds, machinery sheds, and a disused general purpose roof shed. A pedestrian path connects to the centre of Cloyne village. Midleton, the nearest town, is less than a 10-minute drive away, while Cork City is a 30-minute spin. The Examiner, 1st May
BidX1 auction Two tranches of Dublin apartments sold at a BidX1 auction at sharp discounts to market prices. One of these lots comprised three apartments, 307, 308 and 311 Beechwood Court Stillorgan, which sold for €1.15m after only one bid. That equates to an average of €383,333 per unit which is much less than recent sales. The flats were all two bedrooms and two of them measured approx. 710 sq. ft each. Earlier this year, two similar-sized units sold, one for €461,000 and another for €451,000. In the city centre, five units, apartments 17, 18, 60, 61 and 62 Liberty Corner, James Joyce Street, Dublin 1, sold for €1.5m or an average of €300,000 each. Comprising two one-bedroom apartments and three three-bedroom apartments, they range in size from approx. 460 sq. ft to 970 sq. ft. With a total of 3,766 sq. ft of floor space, the price equates to an average of €400 per sq. ft, a significant discount to the average €473 per sq. ft prices achieved for Dublin 1 two-bedroom apartments in the second half of 2024, according to an IPAV survey. The sale included three valuable city centre parking spaces. The Irish Independent, 1st May
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Merrion Square, Dublin 2 A private Irish investor looks set to secure a NIY of 4.98% following their acquisition for €5.69m of No. 47 Merrion Square and its associated mews at 47 Stephen’s Place, which are occupied in their entirety by NewsWhip Media Ltd under two co-terminous leases, with 3.7 years unexpired. In annual rent, 47 Merrion Square produces €229.85k, while 47 Stephen’s Place is generating €81.58k pa, giving the new owner an overall rental income of €311.43k. The average rent is €36.50 per sq. ft. across the two buildings and prime Georgians are currently commanding c. €50 per sq. ft. The properties comprise a four-storey over-basement Georgian building with mews and car parking to the rear. The main building, 47 Merrion Square, extends to 6,330 sq. ft. and the two-storey modern mews extends to 2,191 sq. ft. The Irish Times, 25th May
Fitzwilliam Place, Dublin 2 Colliers is handling the sale for €6.5m of 12 and 13 Fitzwilliam Place together with the mews buildings at 12 and 13 Lad Lane. The property at 12 Fitzwilliam Place is occupied in its entirety by law firm Reddy Charlton LLP under a new 10-year lease from January 1st, 2021 at an annual rent of €168k pa, with a tenant break option at expiry of the fifth year. Reddy Charlton also occupy the basement of no. 13 on a separate lease that runs co-terminus with no. 12 at an annual rent of €12k pa. No. 12 Lad Lane is let to Irish property company Iput on a short-term lease that expires in September 2022 at a rent of €32.5k pa. No. 13 Fitzwilliam Place is partly let with excellent potential to significantly increase the passing rent from c. €43.8k pa. No. 13 Lad Lane is let to Iput until December 2023 at a rent of €30k pa. The Irish Times, 25th May
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Apple Campus, Cork Apple is planning to build a new office block on its Cork campus as it looks to expand its manufacturing, logistics, finance, sales and customer care offering. The new four-storey building would accommodate up to 1,300 additional staff and replace an existing car park which would be relocated. If planning permission is granted in a timely fashion, construction at the site could commence later this year and be completed in 2025. React News, 25th May
Carrigaline, Co Cork Discount supermarket Aldi Ireland is set to open a new €10m store in Carrigaline, Co Cork in 2024. The news comes as the supermarket was granted planning permission from Cork County Council for its new 14,154 sq. ft. store earlier this month. The store will be centrally located just off the new Carrigaline Western Relief Road, which is currently under construction. The store will be powered by 100% green electricity and will feature 52 photovoltaic solar panels on the roof. Carrigaline shoppers will also benefit from four electric vehicle-charging points at the new store, along with 12 bicycle rack stands. The Business Post, 28th May
Ashbourne, Co Meath The Star Stone Property Group, a Meath-based investor, has acquired the High Street Ashbourne retail scheme for in excess of €12.5m. The price paid represents a 9% premium on the €11.5m price that Cushman & Wakefield had been guiding when it offered the investment to the market in May of last year. The scheme was sold on the instructions of receivers Kroll. Developed between 2003 and 2007, the centre, which extends to 176,000 sq. ft., is situated in the heart of Ashbourne. The investment takes in the entirety of Killegland Street and Desmond Street and has a mix of surface and basement parking along with a multi-storey car park. Anchored by Tesco (not part of the sale), High Street Ashbourne is occupied by the HSE, McDonald’s, New Look, Lifestyle Sports, Boots, Card Factory, O’Brien’s Fine Wines and Euro Giant. At the time of its sale, the centre had an occupancy rate of c. 75% and a WAULT of 7.8 years to break option and 9.4 years to expiry, with a total passing rent of €1.64m pa. The HSE’s Ashbourne Primary Care Centre anchors the scheme and is in occupation on a long-term lease until 2037. The Irish Times, 25th May
Swords, Co Dublin Located across from Airside Retail Park, the South Quarter Airside scheme near Swords owned by Irish Life, Iput, and its original developer, David Daly, has come to the market. The property extends to an overall area of 90,685 sq. ft. and 230 car-parking spaces on a site of 1.65 acres. Extending to 57,079 sq. ft., Block A at South Quarter Airside now contains a newly developed remote broadcast and content production centre (RBC) and a mix of six retail/restaurant units. The RBC, which measures 47,791 sq. ft., was created to accommodate the content production requirements of Riot Games. The company will occupy Block A at South Quarter Airside on a new 15-year lease at a passing rent of €600k pa stepping up to €650k in year three with a CPI-indexed rent review at year five. Other tenants in Block A include Hogs & Heifers, Pizza Dog, Indigo Pearl and O’Briens with a combined rent of €287.5k pa. Block A offers a WAULT to break of c. nine years and over 14 years to expiry.
Block B comprises a four-storey building extending to 33,605 sq. ft. and is let in its entirety to Flyefit on three separate leases producing an income of €440k pa and a WAULT to expiry of over 13 years. Blocks A and B are being offered for sale on behalf of the Michael J Wright Group by Colliers by way of separate lots at guide prices of €12.5m and €4.75m respectively. Alternatively, the entire property is available for sale at a guide price of €17.25m, providing the purchaser with a blended NIY of 7%. The Irish Times, 25th May
Dublin City Centre Two pubs that formed part of Sean Quinn’s business empire are up for sale again for a total of €7m. While the new guide price is 27% higher than the amount CBRE had been seeking when it first looked to dispose of The Barge on Charlemont Street and JW Sweetman on Burgh Quay, the increase in the interim reflects the current demand from publicans and investors for premises in prime city centre locations. The two pubs are being sold with the benefit of vacant possession. In the case of The Barge, CBRE is guiding a price of €3.75m. The Barge briefly comprises a part two-storey/part three-storey over-basement building fitted in traditional style with a lounge bar at ground-floor level, a mezzanine bar, first-floor bar, second-floor function room, and catering kitchen. The basement houses the pub’s cellar and beer cold room. The façade of the building is a popular product-placement site with advertising hosted throughout the year. The premises extends to 3,875 sq. ft. and is well presented throughout. JW Sweetman (formally Messrs Maguire’s) meanwhile is a substantial licensed premises situated in a commanding trading position overlooking the Liffey at O’Connell Bridge and immediately adjacent to O’Connell Street and the Temple Bar area in the heart of Dublin city centre. JW Sweetman is a traditional-style four-storey over-basement double-fronted licensed premises. The pub’s accommodation comprises a ground-floor bar with a rich traditional interior. On the first and second floors there is similar lounge bar accommodation while on the third floor there is a catering kitchen with a dumb waiter to all floors. In the basement there is a cellar bar, cold room and microbrewery production area. The entire property extends to 8,934 sq. ft. of accommodation. JW Sweetman is being offered for sale with a guide price of €3.25m. The Irish Times, 25th May
Drogheda, Co Louth Seven units are currently for sale at Donore Business Park in Drogheda, Co Louth and agent REA OBrien Collins is guiding €3m. The units 5, 5A, 6, 7, 7A, 8 and 8A collectively offer c. 31,108 sq. ft. of space with a passing rent of €220k pa. Unit 5 is leased to the Home Renovation Centre on a four-year lease from June 2, 2020 with no break clause and a passing rent of €25k pa. Unit 5A is leased to MCB Electrical Wholesale Limited, also for four years until December 19, 2025, with no break clause and an annual rent of €30k. Units 6 and 7 are let to Nature’s Best Limited on a four-year, nine-month contract starting February 5, 2022, with no break clause and a passing rent of €70k pa. DP Gymnastics holds a four-year, nine-month lease on Unit 7A, expiring on November 30, 2026 and paying €35k pa. Unit 8 is let to Rawlplug Ireland Limited on a four-year, nine-month lease, with no break clause and expiring on July 31, 2026. It has a passing rent of €35k pa. Unit 8A is leased to Posh Pets Distribution Limited on a five-year lease term from November 1, 2021 with no break clause and a current passing rent of €25k pa, increasing to €27.5k pa on November 1, 2023 and €30k pa on the same date in 2024. The Business Post, 28th May
Tallaght, Dublin 24 Guiding at a price of €8.5m through agent Cushman & Wakefield, the sale of Cookstown Cross in Tallaght comprises a brownfield site of 1.75 acres with full planning permission for 208 residential units and ancillary commercial space across seven storeys. The approval provides for 154 apartments consisting of a mix of 41 studio, 84 one-bed and 29 two-bed units, along with 50 two-bed and four three-bed duplexes. The construction of a cafe, creche and commercial unit is also permitted. The scheme will also have 73 car-parking spaces at podium level. The Irish Times, 25th May
Blackrock, South Co Dublin Lisney is inviting offers in excess of €1.5m for a prime residential site in the south Dublin suburb of Blackrock with full planning for five architecturally designed houses. Located at no. 69 Rock Road, the 0.15-acre plot comes to the market with approval for the development of two mews houses within the footprint of the existing building and three three-storey townhouses across the remainder of the site which takes in the rear garden of no. 67. The mews houses extend from 1,152 sq. ft. to 1,259 sq. ft. while the townhouses extend from 1,238 sq. ft. to 1,905 sq. ft. Offers for no. 69 Rock Road should be submitted by noon on Wednesday, June 22nd. The Irish Times, 25th May
Dún Laoghaire-Rathdown County (DLRC) Development Plan The newly adopted DLRC Development Plan is facing three legal challenges by developers over the rezoning of south Dublin residential lands for other purposes. The High Court actions, concerning lands in Stillorgan, Goatstown, and Bulloch Harbour in Dalkey, aim to overturn the decision of county councillors in March 2022 to adopt the 2022-2028 plan, which came into effect in April. Developer Colbeam Limited sought to pursue its challenge over its concerns about the change to the zoning of part of the former site of Our Lady’s Grove school, which is c. 850 metres from University College Dublin. Richard Barrett’s Bartra Property (Dublin) Ltd is challenging the council’s decision to remove the residential reference in the zoning for its site at Bulloch Harbour. It is also seeking an order quashing the decision to adopt the plan. The third action is brought by Oceanscape Limited, based in Inchicore, Dublin. The separate actions are each against Dún Laoghaire Rathdown County Council, while the Minister for Education is a notice party in Oceanscape’s case. The Irish Times, 25th May
Kilmainham, Dublin 8 A site located between the Royal Hospital Kilmainham and the National Children’s Hospital in Dublin 8 has come to the market with a €6.75m guide price. Extending to 0.6 acres, the site on Brookfield Road benefits from full planning permission for 79 BTR apartments. Its sale follows Brookfield Property Ltd securing planning permission for 14 studio apartments, 48 one-bedroom units and 17 two-bedroom units with average floor areas ranging from 422 sq. ft. to 496 sq. ft. and 830 sq. ft. respectively. Furthermore, the development can benefit from 6,795 sq. ft. of resident amenity space. The Irish Independent, 26th May
Blackchurch, Co Kildare A large parcel of land with profile onto the N7 motorway at Blackchurch, Naas Road, Co Kildare, is being offered for sale with a guide price of €35k per acre. It is for sale in two lots, one of which comprises 92 acres. The second at exit 6 southbound on the N7 comprises 4.76 acres. Agent Jordan Town and Country Estates is handling the sale and has set July 12 as the closing date for tenders. The combined guide price for both sections would exceed €3.38m. The Irish Independent, 26th May
Walkinstown, West Dublin CBRE is guiding €6.75m for a site in Walkinstown, west Dublin. Extending to 1.65 acres, the Walkinstown site comes with full planning permission for 61 residential units while a separate planning application is pending for the development of a further eight residential units on a section of the site. The 61 units would comprise 29 one-bedroom apartments and 27 two-bedroom apartment units in a five-storey block as well as five three-bedroom townhouses. The other eight units applied for by Canmar Properties Limited comprise two two-bedroom semi-detached houses and six four-bedroom townhouses. For sale with vacant possession, the site is currently occupied by a carpark and a mix of commercial and industrial two-storey buildings. The Irish Independent, 26th May
Clongriffin, Dublin 13 A European investment manager has launched a prime residential asset in Dublin for a €200m sale. Tristan Capital Partners, on behalf of its EPISO 4 fund, and Twinlite are selling One Three North in Clongriffin. Knight Frank and NAI Hooke & MacDonald Commercial have been instructed to sell the apartment complex. It is the first EU taxonomy mitigated BTR scheme in Ireland to be brought to market. The 376-apartment asset was constructed in 2020. One Three North’s occupancy rate runs close to 100%, with the high-spec flats already likely to have reversionary potential due to the strong rental growth story in Ireland. Build cost inflation is expected to further dampen delivery of new product, further constricting the development pipeline. React News, 26th May
Merrion Road, Dublin 4 A Dublin developer has initiated a High Court action over An Bord Pleanála’s refusal to permit the construction of a five-storey apartment scheme after concluding it would depreciate the value of nearby properties. The planning board overturned Dublin City Council’s permission that had been granted to developer Brian Kennedy to demolish an existing building on Merrion Road, Dublin 4, for the development of 25 apartments, along with a residents’ gym. Mr. Kennedy’s judicial review action is against the board, while Dublin City Council is a notice party. The Irish Times, 26th May
Housing Construction, Co Kildare Major builders have claimed they could be forced to halt the construction of new homes and mothball sites in Co Kildare because housing targets for the Dublin commuter belt are too restrictive. Builders O’Flynn, Cairn, Glenveagh and Ballymore – among the biggest in the market – have made a joint submission to Kildare County Council saying its proposed development plan risks curtailing the delivery of dwellings needed to tackle the housing crisis. Separately, the National Asset Management Agency (Nama), said the council’s reduced housing target for 2023-2029 would lead to the de-zoning of residential sites and to serviced land becoming unavailable for development. The 60-page submission from O’Flynn, Cairn, Glenveagh and Ballymore — collectively described as a “consortium of housebuilders” — takes issue with the target, claiming it is “insufficiently ambitious” and fails to address the worsening national and local housing crisis. In its submission, Nama said significant, “well-located” and mainly residential land assets in Celbridge, Leixlip and Newbridge could be de-zoned under the plan. The current six-year housing target for Kildare represents a 50% reduction on the last development plan, Nama said. The Irish Times, 27th May
Croí Cónaithe Scheme, Ireland Investment funds can buy apartments that are part of the state’s Croí Cónaithe scheme, which is meant to deliver thousands of homes in cities for individual buyers, if the apartments are unsold one year after completion. A sample Croí Cónaithe contract shows there is a clause that allows developers to sell the homes “on the open market to any purchasers”, but they would then not receive the subsidy. A property agent that specialises in selling apartments told the Business Post that even with pent-up demand for housing, it would take longer than a year to sell a large block of apartments to one-off buyers. The government’s new Croí Cónaithe scheme aims to de-risk the development of apartments in Ireland. It has promised developers subsidies of between €25k and €144k per unit if they sell apartments to owner-occupiers. The fee is intended to bridge the gap between construction costs and achievable market price. The Business Post, 29th May
Mortgage Approval, Ireland The number of mortgages approved fell 5.9% in April compared with March and by 1.3% compared with the same period last year, figures from the Banking & Payments Federation Ireland (BPFI) show. The latest data from the BPFI Mortgage Approvals Report for April shows a total of 4,304 mortgages were approved in April. First-time buyers (FTBs) were approved for 2,296 mortgages (53.3% of total volume) while mover purchasers accounted for 923 (21.4%). Mortgages approved in April were valued at €1.6bn, of which FTBs accounted for €635m (54.5%) and mover purchasers for €287m (24.7%). The value of mortgage approvals fell 3.7% MoM and rose 6.9% YoY. Remortgage/switching increased 37.2% in volume terms YoY to 775, and by 43.1% YoY to €206m over the same period. Separately, the latest doddl.ie Mortgage Switching Index for the first quarter has found homeowners should consider swapping their short-term fixed mortgage rates for longer-term options to insure themselves against shock increases in repayments when their current deal ends. Mortgage switching activity has jumped 33% YoY, it found, fuelled by an expectation that rates would increase this year. As household costs rapidly rise, homeowners could be needlessly paying an average €4,388 in extra mortgage repayments per year by not switching lenders, the index found. The Irish Times, 31st May
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Spencer Dock, Dublin The National College of Ireland (NCI) is closing in on the purchase of an office block from the Central Bank to facilitate the expansion of its main campus in Dublin’s IFSC. While negotiations between the parties are said to be at an early stage, market sources believe that NCI has agreed to pay a figure close to the €50m the Central Bank had been seeking when it offered the property to the market in March as part of the wider €105m sale of Block R at Spencer Dock. The building’s east and west wings, which are self-contained, were offered alternatively by selling agents Lisney in individual lots at guide prices of €55m and €50m respectively. The NCI, for its part, is pursuing the purchase of Block R’s west wing. The property, which extends to 65,161 sq. ft., came for sale with a commitment from the Central Bank to rent the ground to sixth floors (58,516 sq. ft.) and 23 car parking spaces on a short-term lease until September 2022 upon completion of the sale. The contracted rent in this instance equates to €3.018m pa. The Irish Times, 17th May
Crown Square, Galway US Communications company, Poly, has selected Crown Square in Galway as the location for its EMEA centre of excellence. The software and audio-visual company plans to use its new office as its primary research and development hub in the EMEA region. Poly’s new office forms part of the wider Crown Square campus which is being delivered by the Rhatigan Group. Upon completion, the scheme will comprise c. 430,000 sq. ft. of office space, a 180-bed four-star hotel, 345 residential units and over 35,000 sq. ft. of retail and restaurant space. The Office Buildings will achieve LEED Gold, NZEB certification and have an A2 energy rating. The Irish Times, 18th May
Harcourt Street, Dublin 2 International recruitment company Oliver James has signed an agreement for its latest office in the capital. Located at 8 Harcourt Street, the accommodation extends to 3,350 sq. ft. The company has agreed to occupy the offices under a new three-year lease with the building’s landlord, flexible workspace provider Clearspace. The Harcourt Street office is OJ Dublin’s second new location this year, and the fourth since the company’s arrival in the Republic in 2017. The Irish Times, 18th May
Upper Hatch Street, Dublin 2 Knight Frank expects to see strong interest from prospective occupiers in the newly remodelled space on offer from the Clancourt Group at One Park Place on Upper Hatch Street, Dublin 2. Grade A office accommodation extending to c. 41,400 sq. ft. is available to let immediately across the first (18,900 sq. ft.) and seventh floors (22,500 sq. ft.) following the completion of a comprehensive works programme involving parking for 340 bicycles. The Irish Times, 18th May
Adelaide Road, Dublin 2 The last remaining floor at 57 Adelaide Road (4,530 sq. ft.) is now available to let through CBRE. Last year, BNP Paribas Real Estate Ireland took the entire of the ground floor of 57 Adelaide extending to 4,854 sq. ft. on a 15-year term, while Murgitroyd (a European patent and trademark attorney) took a lease on the entire of the second floor extending to 3,730 sq. ft. on a 10-year term. The Irish Times, 18th May
Cork Airport Business Park For sale in the Cork Airport Business Park is Building 4700, a modern block of 24,000 sq. ft. which is currently 75% let and yielding €221.7k in income. The sale price of €3.3m equates to €134 per sq. ft. A recent construction price index by the company Linesight indicates the costs of building suburban offices in Ireland currently range from just under €170 per sq. ft. to €230 per sq. ft. Building 4700 has its 24,600 sq. ft. gross, or 20,600 sq. ft. net, over two levels with a central core and lobby. The current rent of €221.7k pa equates to a return of 6.1% as it stands, but there’s a potential reversionary yield of 9.64% based on full occupancy. The Irish Examiner, 19th May
An Post has engaged commercial real estate advisers TWM and Savills to act on its behalf to source a new 500,000 sq. ft. logistics unit. The proposed facility will require a site of c. 35 acres and will be used by An Post as its main processing and distribution facility. The joint agents are seeking initial expressions of interest from developers with the required land holdings in the Dublin region. The Irish Times, 18th May
Gorey, Co Wexford Minaun Capital, a property investment vehicle established by the founder of online auction specialist BidX1, has acquired the Mill Retail Park in Gorey, Co Wexford. The €4.35m paid by Minaun reflects a NIY of 8.25% and represents a slight premium of 2% on the €4.25m which had been sought by MM Capital when it offered the scheme for sale last November. Located on the outskirts of Gorey town, Mill Retail Park comprises five retail units ranging from 2,966 sq. ft. to 16,200 sq. ft. The scheme contains an additional 1,811 sq. ft. Costa Coffee pod in the car park. Irish home store Choice Homes is the largest tenant, occupying two units with a lease expiring in 2033 and a term-certain of c. six years. Iceland, Maxi Zoo and Polonez occupy the remaining three main units. The park is 100% occupied at present with total rent of €396.32k a year, and a WAULT of c. six years to break options and just under 11 years to expiry. The scheme extends to c. 44,694 sq. ft. with c. 160 surface car spaces on a site area of c. 3.5 acres. The Irish Times, 18th May
Suffolk Street, Dublin 2 Occupied and operated as a tourist office up until 2014 by the State’s tourism body, Fáilte Ireland, St Andrew’s on Suffolk Street is being offered to the letting market now through Cushman & Wakefield with the benefit of full planning permission for a licensed food hall, dining, cultural space along with annex banqueting hall. The rent is expected to be in excess of €600k pa. While the main church building extends to a total floor area of 19,794 sq. ft. over three floors, it offers the incoming tenant a large ground-floor area of 8,806 sq. ft. The opportunity includes an annex building situated to the rear of site extending to 1,690 sq. ft. as well as the opportunity for an extensive outdoor seating area. The Irish Times, 18th May
Silicon Docks, Dublin One of the most high-end residential developments in Dublin is being primed for a €130m sale by owners Carysfort Capital and Angelo Gordon. Savills and Eastdil Secured have been instructed to sell Opus at Six Hanover Quay, located in the heart of Dublin’s “Silicon Docks”. The sale is to be pitched off a NIY of c. 3.5%. The BTR scheme includes 120 apartments which comprises 24 one-bedroom apartments, 74 two-bedroom apartments and 22 three-bedroom apartments including two duplexes. Opus is leased to a mix of individual and corporate tenants. On the ground floor there are two street-facing food and beverage units. The spaces are leased to Mackenzie’s, an American-inspired dining space, and Staple Foods, a healthy fast-food restaurant and coffee shop. Investment manager Carysfort Capital, along with US private equity backer Angelo Gordon, bought Opus from Cairn Homes for just over €100m four years ago. The 132,000 sq. ft. building is set across four blocks rising to seven and eight floors. React News, 17th May
Kilkenny Occupied previously by the Kilkenny mart prior to its move to its current location on the Dublin Road, the Kilkenny city centre site comprises 8.57 acres with extensive frontage of 550 metres on to New Road, Castlecomer New Road and Old Mart Road. The site, which is zoned “General Business – to provide for general development”, is being offered to the market by joint agents Savills and Bagnall Doyle MacMahon at a guide price of €6m (€700k per acre). The Irish Times, 18th May
Ringsend, Dublin 4 CBRE is guiding €3m for a residential development site with full planning permission for a bespoke apartment scheme in Ringsend, Dublin 4. The subject site on York Road, which extends to 0.18 acres has approval for the construction of 26 residential units (€115k per site). The planning permission provides for a seven-storey building comprising 13 one-bedroom and 13 two-bedroom apartments, ranging in size from 516 sq. ft. to 840 sq. ft. respectively. The subject site is occupied currently by a two-storey commercial premises extending to 8,070 sq. ft. The plot is zoned “Z1” – Sustainable Residential Development under the current draft of the Dublin City Development Plan 2022-2028, with a zoning objective “to protect, provide and improve residential amenities”. The Irish Times, 18th May
Dunsink Lands, Dublin 15 Nama has clashed with Fingal County Council over the future of lands in northwest Dublin that have space for up to 7,000 new homes. The State-owned “bad bank” has urged the county council to abandon moves to delay developing the Dunsink lands for the rest of the 2020s by placing them in Fingal’s long-term strategic property reserve. Nama said the “prime residential development lands” on which it has security at Lissenhall also had space for 7,000 new homes. The agency is lender to Bovale Developments, which has made a separate submission to Fingal on its Lissenhall lands, citing the same number of potential new homes. The agency’s submission to Fingal council was one among more than 1,800 sent in a public consultation on the draft plan. The Irish Times, 21st May
Poolbeg, Dublin 4 A Johnny Ronan-led consortium is to lodge plans in the coming days to Dublin City Council for 516 apartments at the former Irish Glass Bottle site at Poolbeg in Dublin. In a statutory planning notice, the consortium, Pembroke Beach DAC, has confirmed that the 516 apartments will include 143 BTR units, 52 social housing units, 77 affordable housing units and 244 apartments for private sale. Nama and co-owner of Lioncor Developments, Oaktree Capital, are also part of the consortium. The scheme comprises 180 one-bedroom units, 252 two-bedroom units, and 84 three-bedroom units. The 516 apartments are to be provided in two blocks ranging from four to 10 storeys in height. The plan will also include five cafes/restaurants, 14 retail units, one food hall and one health facility. The notice states that the mixed-use scheme represents phase two of the 37.2-acre redevelopment of the Irish Glass Bottle and Fabrizia sites at Poolbeg west, Dublin 4. The second phase is focused primarily on a five-acre plot within the site. Pembroke Beach currently has a separate planning application before Dublin City Council for 356 residential units. The Irish Times, 17th May
Irish Water Connections, Dublin The development of c. 20,000 homes is being held up in one area of Dublin because the units need to be connected to water supply by Irish Water, the latest housing task force report has said. The Housing Supply Coordination Task Force for Dublin was established in 2014 to track residential development and identify supply-related issues. The task force’s latest report for 2021 has shown that 19,980 homes in Fingal County Council’s jurisdiction are being held up because they are “dependent on Irish Water investment”, while there are 15,551 units on serviced sites that are ready to be built. The report added that following the provision of water infrastructure, these units would be deemed as “on serviced land and ready to be developed”. The task force’s report also noted that 4,400 homes are being held up due to the need for Irish Water investment on sites in the Dún Laoghaire-Rathdown area. The report added that no units in Dublin City Council or South Dublin County Council required Irish Water investment to proceed to the development stage. The Business Post, 22nd May
Baldoyle, North Dublin The Department of Education has emerged as an objector to plans for more than 1,000 new homes at a site at Baldoyle in north Dublin. Earlier this year, Lismore Homes Ltd lodged a €468m fast-track planning application for a 1,007-unit SHD scheme for a site at Baldoyle in Dublin 13. The department notes that in terms of potential requirements for school places, it was relevant that the proposed development site adjoins two other large permitted SHDs, a scheme for 882 units and another for 1,221 residential units. The department stated that it submitted to An Bord Pleanála in both of these SHD applications that permission not be granted until a suitable site is identified to meet the post-primary school needs of existing and future residents of the area. A decision is due on the scheme in July. The Irish Times, 23rd May
River Lee Lido, Cork The drive to create a lido in the River Lee is gaining momentum after three Cork city centre sites were identified as potentially suitable by engineering experts. According to market sources, Kennedy Quay, the Marina and Horgan’s Quay are on the shortlist of possible locations for a 50m open water pool. Kennedy Quay is already set for major development, if plans for a €350m development of the southern quay by O’Callaghan Properties is given the go-ahead, and redevelopment of the Marina is ongoing, with the first of several phases completed, including a new Marina Park. The city did have an outdoor public pool, the Lee Baths, which ran for more than 50 years before it closed in 1986. Prior to that, there was a swimming area in the River Lee near the old Waterworks. The Irish Examiner, 19th May
Construction Apprenticeships, Ireland In a move which could prolong the housing crisis, c. 8,000 apprentices have had their state training courses delayed. The highest number of delays are among construction apprenticeships, with 3,600 apprentice electricians, 1,100 apprentice plumbers and c. 800 carpenters all waiting for training courses. The training backlog was generated during the pandemic when Solas, the state training agency, shut down its education and training centres to comply with public health restrictions. The construction sector needs the recent surge in construction apprenticeships to continue because it has a labour shortage. Most apprenticeships involve a combination of on-the job training, which is provided by employers, and off-the-job training, provided by Solas. Classes have returned to the normal capacity of 14-16 students per class. Last year, a record 8,607 new apprentices were registered, which was up 40% on the pre-pandemic level in 2019. In total, there are 23,400 people doing apprenticeships at various stages. The Business Post, 23rd May
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