Dunshaughlin, Co. Meath The Corscadden family, owners of the Romantic Castles of Ireland hotel collection, have set up a joint venture with builder Joe O’Reilly to develop Killeen Castle, which dates back to 1181. O’Reilly acquired the castle and its 560-acre estate in 1997. The resort hosted the 2011 Solheim Cup and has a clubhouse and events centre with more than 70 residential properties on the estate. It is understood that O’Reilly will sell lands to the joint venture company and take a 37% stake. Redevelopment is likely to be on a phased basis given the considerable cost in refurbishing the castle. A lapsed planning permission allowed for a 202-bedroom hotel, though this was scaled down more recently to 177 bedrooms. The Killeen Castle website includes plans for a 43-bedroom guest facility beside the castle which will be built while the castle restoration and renovation is completed. Details of the joint venture development plans are expected next month. The Sunday Times, 25th January
Blackrock, Co. Dublin The owners of Frascati shopping centre are preparing to bring the mall to the market. Invesco, a US real estate investor that purchased the centre in 2015, has appointed Cushman & Wakefield to handle the sale, The Sunday Times understands. Invesco purchased the mall from the Roche family for €68m in what was its first investment in Ireland. It has gone on to redevelop the centre alongside Burlington Real Estate, now owned by the British asset manager Gresham House. The development included adding 42 rental apartments above the mall and securing planning permission for another 120 units. The mall measures over 220,000 sq. ft and its retail tenants include Marks & Spencer, Aldi, Boots and Home Store & More. The asset managers have changed the mix of units, adding a medical centre and gym. The centre is expected to come on the market in March. Property sources say it could be anywhere from €70m to €100m. It was reported in 2023 that Invesco had quietly put the centre on the market for €100m. However, it is understood the sale was withdrawn after the fund behind the centre partially satisfied some of its debt to Bank of Ireland. Invesco and Cushman & Wakefield declined to comment. The Sunday Times, 25th January
Greater Dublin Area Logistics and warehouse specialist Rohan Holdings is advancing the construction of its next phase of units in three business parks around the M50 motorway and expects to have more than 500,000 sq. ft of space under construction by mid-2026. At Dublin Airport Logistics Park, construction has now commenced on the next speculative building at this scheme. Goldcrest House, which extends to 60,000 sq. ft and due for completion in the final quarter of this year, will comprise a high-bay warehouse and office facility with a large secure yard. The building has an A-rated BER. Rohan Holdings has also commenced construction of an essential-mail distribution centre for An Post at its North City Business Park development, which faces on to the M50 at Junction 5 (Finglas). Rohan has planning permission in place for three additional speculative units in this park, ranging in size from 20,000 sq. ft to 40,000 sq. ft, which can be delivered within 12 months. At its Southwest Business Park, which adjoins the Cheeverstown Luas stop in Citywest, Rohan is tendering the works packages for a 162,500 sq. ft headquarters-style warehouse and office facility it intends to commence in the second quarter of 2026. The Irish Times, 21st January
Montague Street, Dublin 2 The O’Callaghan Collection has paid over €12m for Montague Court, a 1970s office building primed for redevelopment in the heart of Dublin’s south city centre. The price paid represents a discount of approx. 9% on the €13.2m which had been guided for the property when it was brought to the market by agent HWBC last October. Located just off Harcourt Street and within close proximity to St Stephen’s Green, Montague Court was developed originally in 1973. While it was refurbished in 1999, the building’s age is evident from the fact that it extends to just 27,000 sq. ft while occupying a site, which at 0.476 acres, would be capable of accommodating a development of up to 100,000 sq. ft. The building is zoned “Zone Z5 – City Centre” under the Dublin City Development Plan 2022-2028. This designation allows for a range of uses including office, hotel, student accommodation, medical and related consultants and tourist hostel. Feasibility studies prepared by RKD Architects before the sale suggest the site has potential for the development of a new eight-storey over-basement office building of about 103,000 sq. ft or alternatively a new 133-bedroom hotel or a purpose-built 154-unit student accommodation block, all subject to planning permission. RKD have also explored the options for refurbishing and extending the existing structure. The building is fully let until at least 2028 and is generating about €1.12m in annual rental income from a strong tenant line-up that includes the Department of Justice and Romeril Forensic Engineers. In the case of the former, the lease has a further 4.5 years to expiry. The Irish Times, 21st January
N&W Capital, a Dutch family office, has completed the acquisition for approx. €50m of Kilcarbery Square, a fully stabilised private rented sector (PRS) investment comprising 115 newly developed apartments in Dublin 22. N&W acquired the apartment portfolio shortly before Christmas from funds managed by US-headquartered investor TPG Angelo Gordon and its local partner, Carysfort Capital. The price paid equates to an average of €434,782 per unit. The apartments comprise a mix of one, two and three-bedroom units and are arranged across three blocks known as Newgrange Hall, Nangor Hall and Corkagh Hall. The apartments form part of the wider Kilcarbery Grange development of more than 1,000 new homes near Clondalkin. The Irish Times, 21st January
Drumcondra, Dublin 9 Clonturk House, built originally in 1830 on Ormond Road and sitting on 1.3 acres, is being offered to the market at a guide price of €3.75m by Knight Frank. The house, which served most recently as a home for the blind until its closure in 2009, extends to 16,124 sq. ft and comprises a detached, six-bay, two-storey-over-basement property. Internally, the house features high ceilings and generous room sizes, with a two-storey extension to the rear consisting of a number of office rooms, en suite bedrooms and residential amenities including a commercial kitchen, dining hall, library and several communal living areas. The main house is complemented by Cottrell Lodge, a detached two-storey redbrick building extending to 2,011 sq. ft and comprising en suite bedrooms and kitchen facilities. The subject site falls under the Dublin City Development Plan 2022-2028 and is zoned Z2 Residential Neighbourhoods (Conservation Area). Uses permitted in principle under this zoning objective include residential, medical and related consultants, education, embassy/office, primary healthcare centre and student accommodation. The Irish Times, 21st January
Carlow Lisney is guiding a price of €5m for a 14 acre land holding 2.5km from Carlow town with residential development potential. Located on Palatine Road and immediately adjacent to the established Pollerton Manor housing estate, the subject site comprises seven acres zoned for new residential use under the Carlow County Development Plan, with the remaining seven acres proposed to be zoned for new residential development under variation number four of the plan. The lands are well connected to the local and national road network, with the M9 motorway situated 7km away, The property benefits from dual-access points from both the main Palatine Road and a secondary connecting road to the east. The Irish Times, 21st January
Mahon, County Cork Hibernia Star Ltd, linked to McCarthy Developments (Cork) Ltd, has just lodged an application for a 10-year planning permission for a large-scale residential development of 556 units across four blocks at Jacob’s Island in Mahon, as part of an ongoing €750m development, expected to ultimately deliver more than 1,200 homes. The scheme will be halfway to meeting that target when the 149 units currently under construction are complete. These latest units, across three blocks, with completion dates ranging from May to November 2027, will be predominantly two-bed apartments, with 150 one-bed units, and the tenure will be cost-rental (c25% below local market value). Approved housing body Respond will own and operate the apartments. The proposed 556-unit development features extensive green amenity areas for future residents, the highlight of which is a 32,000 sq. ft central park. A planned garden area to the north-east of the site will incorporate a preserved wine cellar, the last physical remains of the historic Lakeland House which once occupied this site. Each of four residential blocks will also have its own landscaped courtyard space. The latest planning application from Hibernian Star Ltd, part of a masterplan for the Mahon peninsula, comes in the wake of a change last July of guidelines governing apartment building. An application for 489 units was declined by An Bord Pleanála a year ago, but the new guidelines are less restrictive in terms of dwelling mix. The Examiner, 23rd January
Carrick On Shannon, Co. Leitrim Planning permission has been approved for the development of a new 72 room hostel in Townspark. The planning permission was submitted to Leitrim County Council (“LCC”) by Goldpine Partnership in July 2025 to construct a hostel at Flynn’s Field, Townspark, Carrick on Shannon. The application sought permission for the construction of a three-storey mixed-use building comprising a 72-room tourist hostel with associated facilities. LCC has approved the application, subject to 24 conditions. There are also plans for three ground floor retail units with maintained pedestrian access to Bridge Street via a ground-level right of way. The ground floor will accommodate hostel reception, café, staff facilities, admin office, linen store, toilets, service areas including bin and bike storage, and three retail units (55,100 sq. ft) with direct access to the street. The Irish Independent, 20th January
Kimmage, Dublin 12 An Coimisiún Pleanála (“ACP”) has given the green light for 145 apartments in Kimmage, rejecting an appeal by local residents who had raised concerns around flooding, overlooking and flaws in the evaluation of the application. Dublin City Council had originally granted planning permission for the development to a subsidiary of Lioncor Developments, 1 Terenure Land Limited, but a third-party appeal was lodged by the Kimmage Dublin Residents Alliance. This is the third planning application for the site. The apartments, which will be spread across five blocks ranging in height from three to partially-five storeys, now have the go-ahead to be built to the side of the BD Gym in Kimmage. The site was once home to the Carlisle cricket grounds. The apartments will be made up of 70 one-bedroom and 75 two-bedroom units, which are intended to be built to be sold, the applicant said. A creche will be included, as well as 89 car parking spaces and more than 400 bicycle spaces. The Irish Times, 23rd January
Leopardstown, Dublin 18 A hotel and an indoor arena could feature in a new plan for Leopardstown as the State-owned racecourse moves to secure horse racing there into the future. State body Horse Racing Ireland (HRI) last year agreed to sell 17 acres at the Carrickmines end of the South Dublin complex to the Land Development Agency for 850 social and affordable homes. HRI is now beginning consultations with the racing industry, businesses and local groups that will help shape a master plan for the venue in advance of submission of a plan to Dún Laoghaire Rathdown County Council early next year. That could include proposals for a hotel and an arena, along with expansion of the venue to cater for up to 25,000 racegoers from the current maximum of about 20,000. The Irish Times, 22nd January
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Kylemore Industrial Estate, Dublin 10 Harvey is guiding €5.5m for Block 3, which comprises two semi-detached warehouse and office buildings, along with two annexes, and extends to a gross external area of 50,866 sq. ft. The two warehouse buildings which make up approximately 98% of the property, are occupied under two 15-year leases by Wholefoods Wholesale Limited. The property is generating a total rent of €368,067 a year, which is highly reversionary. Wholefoods Wholesale Limited’s occupancy expires at the end of August 2027, and deeds of renunciation have been signed. The property is zoned ‘Z6 Employment/Enterprise’ under the Dublin city Development Plan 2022-2028 and is designated ‘Residential Led’ under the City Edge Project. Should a sale proceed at the guide price of €5.5m, the new owner would be in line for a net initial yield of 6.1% and a capital value of €108 per sq. ft, which is significantly below replacement cost. The Irish Times, 14th January
Portfolio Purchase Chancerygate has completed the purchase, for more than €60m, of a large-scale industrial portfolio comprising a range of assets at two of Dublin’s foremost industrial parks. Chancerygate saw off competing offers for The North Gate portfolio, a collection of 12 properties distributed across a total gross external area of 341,900 sq. ft at Furry Park Industrial Estate and North Dublin Corporate Park. The portfolio, which is fully let, was offered to the market by Savills on behalf of Iput at a guide price of €55m last September. Seven of the properties are located at the Furry Park scheme, while the remaining five units are located in North Dublin Corporate Park. The portfolio occupier base includes UPS, Euro Car Parts, the Panelling Centre and Arkray Ireland. Chancerygate is also speculatively developing a €45m, 120,620 sq. ft grade A urban logistics park at Santry in north Dublin called Airport Trade Park. The scheme will comprise 13 leasehold units ranging from 3,610 sq. ft to 22,665 sq. ft upon completion. The Irish Times, 14th January
Cork City John Cleary Developments (JCD) has bought Cork City’s Half Moon St development in an off-market deal believed to be valued at approx. €30m. JCD purchased the city centre building from Kennedy Wilson, who paid O’Callaghan Properties €36.3m for the mixed-use development in 2019. JCD pledged to spend an additional €5m to upgrade the vacant office space. JCD already has terms agreed on one floor and is in detailed discussions with a number of occupiers in relation to the other floors. The first office occupiers are expected to be in place by mid-April. Tech giant Apple Europe previously had offices in the building, before relocating in 2021 to BAM/Clarendon’s new development at Horgan’s Quay. Work on the €5m upgrade is already underway. The total office floor area is 54,000 sq. ft, with floor plates up to 18,000 sq. ft, which are fully fitted and ready to occupy. The upgrades will bring the building’s energy rating to an A3. A previously unused basement that extends to over 20,000 sq. ft is the subject of ongoing discussions with a number of interested parties. The Examiner, 16th January
Fitzwilliam Square, Dublin 2 No. 66 Fitzwilliam Square has come to the market at a reduced price. In 2024 it was offered for sale through an agent guiding €3.8m. Now the current agent, Lisney Sothebys, is quoting €3.25m for it, a 14.5% reduction. The building has been well maintained and retains many of its period features, including fan lights, ornate cornicing, sash windows, ceiling roses and high ceilings, most notably in its hallway and two living rooms. Both it and a mews to the rear are in office use and could be converted into residential home use. The house itself is currently divided into multiple office units and extends to approximately 6,100 sq. ft with four-storeys over garden-level and serviced by a lift. The mews, which is connected to the house, extends to approximately 1,120 sq. ft and has separate access from Pembroke Lane. In all the two buildings offer 12 rooms which are described as offices and a further two front rooms facing onto the square with its garden are described as living rooms. The Business Post, 18th January
St. Stephen’s Green, Dublin 2 Kennedy Wilson, one of Ireland’s biggest commercial landlords, has secured permission to develop a new nine-storey office block at Stokes Place. Last year, the company applied for planning permission to redevelop the site of KPMG’s office on the corner of St Stephen’s Green and Harcourt Street. The office is currently used by KPMG to house its audit, tax and advisory support teams. Kennedy Wilson proposed redevelopment of the current seven-storey office block into a nine-storey development, which would provide 440,000 sq. ft of office space, 5,200 sq. ft of event space and 600 sq. ft of amenity space. DCC has now approved the application, which will increase office space in the development by 37,700 sq. ft. Kennedy Wilson previously secured permission in 2023 to demolish Stokes Place and build a seven-storey office development. The Business Post, 13th January
Killarney, Co. Kerry The International Hotel, a four-star historic hotel in Killarney town centre has been sold for €22m. The 98-bed high-end hotel owned by the Coyne family has just found a local buyer, the O’Donoghue Ring family, bringing to five the number of Kerry hotels now owned by that family, with four to date alone in Killarney, as well as other hotels in the UK as well as owning Munster Joinery. The hotel went to the open market in September, and a sale has now taken place within a swift four months, via CBRE who had launched it with a €18m-€20m price guide. The Irish Examiner, 16th January
Dundalk, Co. Louth Marshes Shopping Centre has added four new tenants to its line-up, with Lovisa, Golden Discs, Camile Thai and Next all either open or due to open for business. In the case of Lovisa, the fast-fashion jewellery brand began trading at the centre just before Christmas after signing a 10-year lease for Unit 29 (1,058 sq. ft). Golden Discs opened for business at Marshes last November and occupies Unit 36 (1,782 sq. ft) under a 10-year lease, while Camile Thai is operating from Unit 4 (223 sq. ft) in the shopping centre’s food court under a 10-year lease. UK-headquartered fashion retailer Next is set to open at Marshes Shopping Centre shortly, marking one of its first big signings since the opening of its Henry Street store in 2018. Next will take possession of Unit 6 (11,592 sq. ft) over the coming week to commence its store fit-out and will occupy the store on a 10-year lease. The Irish Times, 14th January
Sandymount, Dublin 4 Colliers is guiding €1.1m for a 0.24-acre site in Sandymount. Located just off St John’s Road and 650 metres from Sydney Parade Dart station, the subject site comprises numbers 1 and 2 Radcliff Mews, two detached mews dwellings with garages dating from the 1970s. Number 1 Radcliff Mews comprises a two-bedroom dwelling measuring 850 sq. ft with livingroom, kitchen, patio and a private garden. Number 2 Radcliff Mews comprises a three-bedroom dwelling (one en suite) measuring 740 sq. ft with kitchen, livingroom, patio and a private garden. There are four lock-up garages and parking for a further three cars to the front of the units. The entire site is zoned “Z2 Residential Neighbourhoods (Conservation Areas)”. The objective of this zoning is to “protect and/or improve the amenities of residential conservation areas” in accordance with the Dublin City Development Plan 2022‐2028. The Irish Times, 14th January
Cabra, Dublin 7 Planning permission is being sought for a six-storey, 249-bed student housing development at the “derelict” Matt’s of Cabra pub site on Fassaugh Avenue, according to newly filed planning documents. The purpose-built student accommodation development will include 249 student bed spaces which, if granted, will be arranged into 32 groupings of between four and 10-bedroom blocks which will share living and cooking areas. Ten studio units will also be included. The development will be spread across two blocks of housing, which will range in height up to a maximum of six storeys. In addition to bedrooms, the development is expected to deliver a student lounge area, laundry facilities, a postal room as well as kitchen and eating facilities. Outside of the college term, the development will hope to be used as short-term tourist and visitor accommodation. R&D Developments Ltd is the applicant company, with the application noting it is undergoing a receivership by Grant Thornton. The Irish Times, 14th January
Housing Commencements Construction began on just 16,412 housing units last year, the lowest total since 2016. The number came off the back of a far higher number of units started in 2024, when a total of 69,311 notices were filed. However, this was fuelled by a waiver of development levies and a rebate from Uisce Éireann for water-connection charges. Announcing the figures yesterday, the Department of Housing pointed out that, across 2024 and 2025, a total of 85,723 units were started. It said this was 43% more than the combined total for the preceding two-year period. The department is also taking heart from an increase in the number of units started last month, when the number rose to 3,065, double that of the previous month. The second-highest month was 1,656 units in September. Apartments accounted for more than half of all units started last month, at 1,820. This was more than three times higher than the figure for November and could be an early indication that confidence is returning to that sector. The Irish Independent, 16th January
South Circular Road, Dublin 8 Griffith College Dublin has applied for planning permission from DCC to develop a multimillion-euro expansion to its campus which would involve four new campus buildings being built, according to newly filed planning documents. The university is looking to adapt its existing campus in order to allow for a doubling of its on-campus student numbers from about 3,500 students to up to 7,000 students. These plans fit into a wider master plan for the future expansion of the college which could cost an estimated €200m. The expansion would mean a four-storey, 56,000 sq. ft building between the existing Arthur Griffith and Daniel O’Connell buildings to house classrooms, lecture halls, offices, plant rooms and breakout spaces. An existing building, known as the Photography Studio, would also be demolished as part of the works, with a new four and five-storey teaching and learning building being built on the site. The 49,700 sq. ft building would include a gym and changing areas, as well as an exhibition and event space. The total floor space of the proposed works would mean 131,500 sq. ft of floor space added to the college’s footprint, the applications details. The wider expansion will also see further student accommodation being built. The Irish Times, 14th January
Baggot Street Upper, Dublin 4 The Raglan Townhouse Hotel Ltd is seeking permission for an 87-bedroom hotel on Baggot Street. In June 2024, DCC refused permission to the company for a 100-bedroom hotel at numbers 46, 48 and 52 -54 Baggot Street Upper and at 46, 48, 50 and 52-54 Eastmoreland Lane, Dublin 4. The new notice states that the hotel would include a cafe/bar, hotel reception and 12 guest rooms at ground floor level. It also involves a change of use at number 48 Baggot Street Upper from offices to hotel bedrooms. In addition, the scheme involves the change of use of Nos 52 to 54 Baggot Street Upper from bank branch and offices to a hotel and the construction of a new four-storey building to the rear of numbers 46, 48, 50 and 52-54 Baggot Street. The council blocked the 100-bedroom hotel plan after concluding that it would be overly dominant, would not conserve nor enhance the special architectural character of the setting of the protected structures and their curtilage, and would result in extensive and unjustifiable demolition of the original historic fabric. The Irish Times, 19th January
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Swords, Co. Dublin GIC, working with operating partner Valor Real Estate, is in exclusive talks to buy Horizon Logistics Park from Henderson Park for approx. €500m. Green Street News reported the potential purchase price would be the largest logistics deal in Ireland’s history and would equate to a net initial yield in the region of 5% for the income-producing component of the sale, although the site also includes significant development opportunities. Henderson Park was prepared initially for a sale or recapitalisation, with Eastdil Secured and JLL mandated in August to line up options for Horizon Logistics Park. GIC fought off KKR and Aermont Capital to land the trophy campus, and the sale attracted a wide array of interest. Other investors that showed initial interest included EQT, Deka Immobilien and Kennedy Wilson. Alongside the 1.7m sq. ft of constructed logistics space at Horizon, there is 2m sq. ft of consented development land that is capable of offering built-to-suit units of 20k sq ft to 1m sq ft. Horizon Logistics Park comprises around 300 acres of zoned industrial land where several distribution facilities have already been developed and are occupied. BisNow, 12th January
Blanchardstown, Dublin 15 Clyde Real Estate is currently seeking a tenant for Clyde House at the IDA Business and Technology Park in Blanchardstown. With its approx. 63,000 sq. ft of industrial and logistics space Clyde House is expected to appeal to a range of potential occupiers. Standing on a 6.5 acre site that includes corporate offices and extensive car parking, Clyde House benefits from two dock levellers for loading trucks and lorries as well as its own dedicated entrance which leads to a secure and gated service yard extending to a depth of 35 metres. Cushman & Wakefield, who is handling the letting, is quoting €9 psf for the property. The Business Post, 11thJanuary
Johnson Place, Dublin 2 Grafton Residence ULC, owned by Sretaw Hotel Group, has been granted planning permission to build an eight-storey, 71-bed extension to the Grafton Hotel, across the road from the existing four-star hotel. The new hotel development will be affiliated and managed by The Grafton Hotel, it is noted in the application. Following the demolition of the existing buildings at 3 to 5 Johnson’s Place, which currently house a number of retail units, an eight-storey, mixed-use development will be constructed. The ground floor is set to be comprised of the hotel lobby, a restaurant and bar in addition to retail units. The seven levels above ground will be made up of 73 ensuite hotel bedrooms and a gym. The company has sought planning permission from Dublin City Council (“DCC”) for similar developments at the site on two occasions previously. Previous applications which were granted permission by DCC were subsequently appealed to An Coimisiún Pleanála by local business owners. The Irish Times, 12th January
Temple Bar, Dublin 2 Colliers and John P. Younge are guiding €2m for The Vintage Cocktail Club in Crown Alley. The three-storey over part basement building, extending to approximately 2,712 sq. ft, is fully let to The Workmans Club Limited for €225k pa under a 20-year lease from 2012. The ground and first floors feature stylish boutique-style bar and lounge areas, complemented by a fully equipped commercial kitchen at ground level. The second floor boasts a covered terrace while the basement provides additional storage and WC facilities. Colliers Press Release, 13th January
St Stephen’s Green, Dublin 2 Maples Group, which owns the law firm Maples and Calder and the financial services company MaplesFS, is planning to relocate all its Irish staff to 75 St Stephen’s Green following a multi-million euro renovation. The law business currently operates from the building, but the financial services division was moved following rapid expansion and currently operates from 32 Molesworth street. Maples has 550 employees in Ireland, its second largest office globally. The redevelopment was part of a deal struck by Blackstone in December which saw it retain the property. The giant American fund agreed the deal with Starwood Capital Group, which saw it take on a loan behind three assets including the Iveagh Court and 75 St Stephen’s Green. Blackstone acquired five Dublin office properties in 2019, funding part of the purchase through a loan held by Starwood. The Business Post, 12th January
Barrow Street, Dublin 4 Mason Hayes & Curran has started the search for new offices in Dublin. The Sunday Times understands that the firm has hired Savills to look for up to 110,000 sq. ft. It has a staff exceeding 700, including partners. A move would see the firm leave its Barrow Street base, in the heart of the capital’s Silicon Docks, which it has occupied since 2006. A spokeswoman for the firm said the company was reviewing its office space requirements “to support the continued growth of the firm”. The company’s current offices comprise just under 65,000 sq. ft. Google Ireland bought the building and another on the street in 2018 from Kennedy Wilson. The tech giant owns most of the street, where it employs thousands of people at a sprawling campus. The Sunday Times, 11th January
Marks & Spencer Results Costs associated with the closure of two Marks & Spencer outlets, in Drogheda and on Clarion Quay in Dublin’s docklands, contributed to the Irish arm of the retailer recording pre-tax losses of €8.85m in the 12 months to the end of March 2024. New accounts filed show that the Retailer recorded the pre-tax loss as revenues rose by 2.4% to €372m and operating profit before exceptional items rose by 68% to €35.5m. The pre-tax loss was incurred after exceptional costs of €42.3m. The bulk of the exceptional costs concern a non-cash impairment charge of €35.8m relating to the company’s investment in Marks & Spencer Turkey Clothing Textile LLC. The directors stated that other exceptional charges of €6.5m relate to closure costs associated with the closure of Drogheda and Clarion Quay in March 2024 and redundancy costs relating to certain roles which were made redundant at a Dublin support centre. The Irish Independent, 8th January
Glass Bottle Site Deutsche Bank has agreed a financing deal worth €415m for the former Irish Glass Bottle site being developed by Pembroke Beach DAC, a joint venture of Lioncor, Oaktree Capital Management and Ronan Group Real Estate. Lioncor said the new financing package would replace the existing one and provides stabilised financing for the residential phases now being completed and leased, and facilitates progression to the next phases of the residential development program. In November, Glass Bottle’s first residential building, Lime House, achieved “practical completion” and welcomed the first tenants to the site, which consists of 212 homes. The company said that the next 180 homes would be delivered in the first quarter of this year. In total, Glass Bottle is expected to deliver almost 900 new homes in Dublin across its first four residential buildings. The Business Post, 8th January
Milltown, Dublin 6 Sandford Living Limited, an Ardstone subsidiary, is making a renewed bid to secure planning permission for a €356m apartment scheme at the corner of Sandford Road and Milltown Road. Two previous plans for up to 667 homes on the site were challenged in the courts after securing permission from ABP and have yet to reach a conclusion. As part of its Part V social housing requirements, Sandford Living is proposing to sell 56 of the planned 562 apartments to the city council for social housing and has put a price tag of €1.03m on the largest three-bedroom apartment that would be made available under that scheme. In total, Sandford Living has put a price tag of €35.54m on the 56 apartments it is offering the council. In all, the apartments earmarked for social housing include five three-bed units, 27 two-bed units, 14 studios and 10 one-bed apartments. A final price will be reached between the developers and the council after planning permission has been secured. Advancing the case for the new scheme, the Thornton O’Connor report notes the development has been reduced from 636 apartments to 562 and a 10-storey apartment block has been reduced to eight storeys. The existing buildings and lands on the site were formerly used by the Jesuit order which vacated the site in 2019 and sold it to the applicants in the same year. The Irish Times, 6th January
Planning Permission Landowners struggling to develop their residentially zoned sites in Dublin, with or without planning permission, are being sought by DCC to provide large scale social housing schemes. The council has identified 113 “inactive” development sites in the city with planning permission granted but no construction started. These sites had the potential to provide 13,000 homes. However, it said it will also “seek out” landowners who have not secured planning permission for zoned lands that could accommodate at least 100 social homes. The Government’s new housing plan, entitled Delivering Homes, Building Communities and published last November, set a target of delivering 72,000 social homes and 90,000 affordable homes Statewide by 2030. The council said notification from the Department of Housing of its specific targets “is imminent”. The council’s current projections for delivery of housing on its lands is for 7,777 homes to be completed by 2030, more than half of which will be social housing, 35% cost-rental, just over 10% affordable housing, and 3% private housing. The Irish Times, 9th January
Dublin Airport Fingal County Council has rejected plans by Desmond and Ulick McEvaddy’s DA Terminal 3 Ltd for a new cargo development for their lands on the western campus of Dublin Airport. In the plans lodged with the council, DA Terminal 3 Ltd was seeking planning permission for four aviation related cargo handling units to operate on a 24-hour, seven-days-a-week basis and ancillary office space on a 30-acre site at Huntstown, Swords. The units have an overall combined total gross floor area of 375,000 sq. ft and the scheme when operational would employ 350 people. A planning report lodged by CWPA Planning & Architecture said that the application is the first phase of a 123.5 acre site owned by DA Terminal 3 Ltd to be developed by the company. However, the council has refused planning permission to the cargo scheme on five grounds. The council pointed out that the development site is proximate to lands west of runway 16/34 indicated in the Dublin Airport Local Area Plan as a potential location for a third terminal (T3). The council said it was not satisfied that the proposed development would not prejudice the orderly operation and continued growth of the airport, including the provision of T3 and the provision of a western access route to Dublin Airport. The Irish Times, 12th January
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Dublin & Galway Greystar has agreed to acquire a portfolio of more than 700 student beds in Dublin and Galway, establishing it as one of the biggest operators of PBSA in Ireland. The firm announced the deal for Project Galaxy, which Cushman & Wakefield brought to market on behalf of another US investment firm, EQT, with a guide price of €115m. Greystar did not disclose a sale price, but industry sources told The Irish Times the firm paid approx. €105m for the fully occupied portfolio, making it one of the larger commercial property deals of 2025. Project Galaxy comprises 290 units at Mayor Square in Dublin’s IFSC, and 434 beds at Cúirt na Coiribe in Galway. Both properties were most recently operated under the Hubble brand and managed by student accommodation specialist Mezzino. Greystar said it will operate the schemes under its own Canvas brand and will now operate close to 1,700 student beds here. The Irish Times, 18th December
St Stephen’s Green, Dublin 2 Developers have lodged completely overhauled plans for a €100m scheme to replace St Stephen’s Green Shopping Centre. A previous proposal to replace the iconic centre on the corner of the green was thrown out by planners in early 2025, and now the developers have lodged new-look drawings of the proposed exterior in just the latest iteration of proposals for the landmark building. The designers have said that the scheme will make an enduring contribution to the city’s built environment, setting a new benchmark for brownfield regeneration in the heart of Dublin. The owners of the centre, property investor and operator Lanthorn, have through DTDL Ltd, lodged the revised plans with Dublin City Council (“DCC”) five months after An Coimisiún Pleanála (“ACP”) refused planning permission for their €100m revamp. Now, in a bid to address ACP’s refusal, the applicants have set back the building line at the St Stephen’s Green corner as part of the overall BKD Architects masterplan for the scheme. The Irish Independent, 19th December
Kevin Street, Dublin 8 US investors Oaktree and Ashling Capital are set to launch a joint bid worth €100m in an attempt to dislodge DCC’s deal for Camden Yard. Last week, DCC entered exclusive discussions to acquire Camden Yard, the troubled Kevin Street development that was brought to market by receivers in May for a guide price of €80m. Sources familiar with the sales process told the Business Post the local authority agreed a €90m deal to purchase the site and plans to move its head office to the site. Oaktree, a US private equity fund, and Ashling Capital, a family run property developer, are now planning a rival bid to push out DCC from the process. The Business Post understands the €100m bid would involve Bentall GreenOak, a US property investment firm that lent €75m to the project, being repaid in full. The Business Post, 20th December
Camden Street, Dublin 2 A proposed 463-bed tourist hostel on Dublin’s Camden Street has been refused planning permission by DCC. The application was submitted by Balrath Investments ULC, a company controlled by waste tycoon Eamon Waters, founder of Panda Waste. The firm sought permission to refurbish and extend the protected structure at 1–4 Camden Street Lower, which is currently occupied by a gym and a Fresh supermarket, to create a six-storey-over-basement, 463-bed tourist hostel with a ground-floor café and retail unit. DCC concluded that the proposed development would be “overbearing” on the protected structure, and would “seriously injure the special architectural character, setting, significance, and legibility of the area.” The Business Post, 22nd December
Donnybrook, Dublin 4 Red Rock Developments, led by Keith Craddock, has won approval for a 143-bed aparthotel at the Circle K site, the latest in a long-running planning battle with residents and the planning authority. The developer won approval to demolish the existing petrol station, located across the road from Energia Park, and replace it with a seven storey aparthotel complex with a ground floor café and restaurant or retail unit. The development will feature a gross floor area of 60,000 sq. ft, a 1,500 sq. ft restaurant takeaway unit and a 1,900 sq. ft cafe or retail unit. It was ultimately approved after the council ordered a number of amendments to the original planning application, including the removal of 12 small bedrooms and taking steps to protect a neighbouring business’ privacy by removing high level windows on its southern elevation. The developer would also have to contribute €625,872 to the Planning Authority for infrastructure-related development contributions. The Business Post, 22nd December
Insolvencies According to research by PwC Ireland, 141 insolvencies in hospitality were recorded last year, down from 154 the year before. There were just 30 cases in the final quarter, which continued a downward trend throughout 2025. There had been 43 insolvencies in the first quarter, 38 in the second, and 30 in the third. However, the insolvency rate, at 68 per 10,000 businesses last year, is well above the overall average of 27. Furthermore, only six of the 141 insolvencies involved an accommodation business, which meant that food and beverage accounted for the vast majority of failures. The insolvency rate of 27 was well below the long-term year average, which is 50. A peak of 109 was recorded in 2012, following the financial crash, roughly equal to about 3,400 insolvencies in a year. The PwC report shows that the Scarp rescue process for small businesses is losing traction, with only 23 processes started last year, down from 30 in 2024 and 33 in 2023. The Irish Independent, 6th January
Dublin Office Market Open AI and Anthropic are looking to expand their office footprints in Dublin. Anthropic is looking to lease around 25,000 sq. ft in the city over the next three to five years, according to people familiar with the plan who asked not to be identified. The final figure could be lower, as the firms’ expansion plans are rapidly evolving. The firms currently occupy small spaces in flexible co-working offices in the city. A spokesperson for Anthropic declined to comment on its leasing plans in Dublin but said that the company was expanding rapidly and has other European offices in London, Paris, Zurich and Munich. OpenAI declined to comment on specific leasing plans but said it had about 60 employees in Ireland and would continue to add to the team in 2026. The Irish Times, 19th December
O’Connell Street, Dublin 2 The Residential Tenancies Board (RTB) is closing in on a deal for a new headquarters at the Clerys Quarter development. Having based its operations on nearby D’Olier Street since its establishment in 2004, the RTB is set to take 18,000 sq. ft of office space at the scheme and is expected to pay a rent of approx. €50 psf. The agreement with the RTB will bring the consortium behind the Clerys Quarter a step closer to its objective of securing full occupancy for the scheme’s office element in advance of its plan to sell its remaining interests there. The OPM consortium, which comprises Luxembourg-based asset manager Europa Capital, Derek McGrath’s Core Capital, and Paddy McKillen jnr’s Oakmount, already sold about a third of the mixed-use development’s office space in November 2023 when the HSE acquired the 30,700 sq. ft Earl Building on North Earl Street for use as a new outpatient facility for the Rotunda Hospital. Developed on the site of the former Clerys department store, the Clerys Quarter scheme also includes 60,000 sq. ft of retail accommodation, most of which is occupied by Swedish fashion giant H&M and French sports retailer Decathlon, and a new 229-bedroom Premier Inn hotel which is under construction. The hotel is currently being offered to the market on behalf of Premier Inn’s owner, the Whitbread Group, on a forward-funding basis for €66.6m. The Irish Times, 17th December
Capel Street, Dublin 1 & Green Street, Dublin 7 Moran Living Limited has completed the purchase of 89-94 Capel Street and 16-22 Green Street for approx. €12m. The buildings total approx. 55,000 sq. ft, generates €1.33m pa and are leased to the OPW, Autoaddress, Irish Human Rights and Equality Commission and St Michael’s House. 89-94 Capel Street extends to approx. 25,500 sq. ft across 6 storeys and is approx. 85% occupied by the OPW, who contribute €600k of the €710k annual rental income. The OPW has a break option in January 2027. 16-22 Green Street is set on a prominent corner site which extends to approx. 30,000 sq. ft. Earliest tenant break on the Green Street property is not until May 2030. Moran Press Release, 5th January
North Wall Quay, Dublin 1 A RGRE group company has scaled back a rejected 17 storey office scheme for Dublin’s Docklands to 12 storeys, in a bid to secure planning permission. In August, ACP upheld DCC’s rejection of a planned 17 storey redevelopment of Citigroup’s current European headquarters at 1 North Wall Quay. In new plans lodged by NWQ Devco Limited, planning consultant John Spain wrote that the previous reasons for refusals by ACP have been fully addressed through the redesign of the development which has been reduced from 17 storeys to 12 storeys. The current six storey Citigroup building is 371,000 sq. ft. The proposal will retain 265,000 sq. ft of the existing floor area which will be incorporated in the development, and the revised plans will provide 579,000 sq. ft of high-quality office space across 12 floors. The 64-page planning report notes that the development comprises four blocks ranging in heights of 7-11 storeys, 12 storeys, 10 storeys and seven storeys which represents a maximum height increase of six storeys above the existing building. The Irish Times, 5th January
Donnybrook, Dublin 4 DCC has given the green light to Cairn Homes for its revised €295m apartment scheme on former RTÉ lands at Montrose. In giving the 510-apartment scheme the go-ahead, the council planner’s report said “the proposed changes to this development have resulted in a higher quality residential amenity for future occupiers of the development”. Cairn Homes Montrose Ltd previously secured planning permission from ACP for 608 units at the site in July 2023. The new scheme omits all ‘build to rent’ apartments that had featured in that scheme. The newly approved proposal comprises 326 two-bed apartments, 125 one-bed apartments, 51 three-bed apartments and eight studios across eight apartment blocks. Three of those blocks will rise to 10 storeys in height. DCC has ordered Cairn to pay €5.43m towards the provision of public infrastructure. The grant of permission comes more than eight years after Cairn Homes agreed a €107.5m deal with RTÉ in June 2017 to purchase just under nine acres of lands at the broadcaster’s Donnybrook headquarters. The Irish Times, 19th December
Dunsink, Dublin 15 Fingal County Council is to push forward by several years residential plans for Dunsink, the largest bank of undeveloped land within the M50, in response to a Government edict earlier this year to dramatically increase housing targets. Dunsink, which is at the southernmost end of Fingal close to the boundary with DCC, had been designated a “long-term strategic reserve lands”. In 2023 the council undertook a feasibility study of the vast 1,075-acre Dunsink land bank, which is west of Finglas and north of Ashtown, to examine its future suitability for housing. Just under 500 acres, largely in the east and south of the area, was identified as having the capacity for residential development with the potential for 7,000 homes. FCC has decided to remove the “long-term strategic reserve” designation from the Dunsink lands to allow for the “early release” of sufficient lands for the first phase of this development, to accommodate 2,500 homes. The Irish Times, 23rd December
Clondalkin, Dublin 22 Ardstone has acquired a zoned site in Dublin capable of delivering 1,400 homes as the group closes in on Ires Reit as the largest private residential landlord. The company, backed mainly by large European pension and insurance groups, has paid about €25m for the almost 20-acre site in Clondalkin. Ardstone is also eyeing the development of a community centre and town plaza on the site, with the aim of beginning construction in 2027, subject to planning permission. The company was set up in 2005 by former Friends First property heads Donal Mulcahy, Ciarán Burns and Donal O’Neill and initially focused on European real estate markets. Since 2021 it has rolled out a long-term residential investment strategy, focused on the mid-level Irish rental market, and it now manages more than 3,000 residential units here valued at about €1.4bn. The Irish Times, 23rd December
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Kevin Street, Dublin 8 Dublin City Council (“DCC”) has entered exclusive talks to buy Camden Yard, the stalled development on a prime site near St Stephen’s Green. The Sunday Times understands that the local authority has agreed to pay approx. €100m for the 3.6-acre site. The scheme, based on the former DIT campus on Kevin Street, has planning permission for 408,000 sq. ft of office space, 299 apartments, a one-acre park and a number of retail and restaurant units. Construction has started and a large, half-built concrete structure stands on the site. However, the local authority would look to knock down at least part of that structure and build mostly apartments on the site. The move would be a departure for DCC, which has not speculatively bought land for housing development in recent years. However, it is developing a number of its own sites, and redeveloping O’Devaney Gardens, after doing a deal with developer Bartra to build 1,000 homes. It is also involved in a number of new-build schemes and regeneration projects. Sources say that BGO, a secured lender which appointed a receiver to the site in December last year, is insisting on a tight exclusivity period. A €100m sale price would mean BGO, which provided the senior debt of €75m to fund the approx. €145m purchase of the site, would be repaid in full. An additional approx. €65m was spent on site excavation and construction. The Sunday Times, 14th December
Kilkenny City An Coimisiún Pleanála (“ACP”) has refused planning permission for a proposed development of a 67-bedroom hotel in the heart of Kilkenny city because of its negative impact on local residences. ACP reversed the decision of Kilkenny County Council to approve the planning application by Penny Pudding Limited to develop a multi-storey hotel on the corner of Pennyfeather Lane and Pudding Lane. It followed the lodging of two appeals by local residents and businesses against the council’s ruling. The proposed development had also provided for the demolition of the former Mulhall’s restaurant on the 0.14 acre site which is located in the city centre’s Architectural Conservation Area. The developers had sought permission to construct a six-storey hotel but a condition was imposed by council planners, which was unsuccessfully appealed by Penny Pudding Limited, that one floor should be omitted as part of securing approval for the project. However, ACP ruled that the proposed development by reason of its overall size, scale and mass together with its close proximity to homes to the immediate north of the site would seriously injure residential amenities of adjoining properties, notwithstanding the omission of one storey. ACP noted that the proposed development would be contrary to provisions of the Kilkenny City and County Development Plan 2021-2027 in relation to building heights and plot ratio. Rte.ie, 11th December
Grand Parade, Cork City Danish retailer Normal is to open at the former Argos store in the Queen’s Old Castle, ending six years of vacancy at one of Cork city centre’s most prominent retail spaces. Confirmation that the Nordic chain has taken out a lease on the 10,000 sq. ft unit, empty since Argos closed in 2019, signals another new arrival to Grand Parade, following on from confirmation last week that a Gala convenience store is to open at Singer’s Corner, empty since last May. The arrival of Normal is another welcome boost to Grand Parade where Cork City Council recently unveiled the new-look Bishop Lucey Park after a €7m upgrade. Normal is scheduled to open in the Spring. The retailer has had Ireland in its crosshairs for some time, according to chief executive Jakob Frolich Maarbjerg, who said in a recent newspaper interview that they also intend to open a store in Coolock, on Dublin’s north side. He indicated that they may eventually open up to 100 stores in Ireland. The Examiner, 12th December
Bunclody, Co. Wexford The busy Eurospar shop in Bunclody town has gone on the market for €1.295m through DNG. The property is located on Market Square and benefits from a commanding profile leading to strong footfall. The property was fully redeveloped in recent years. The ground floor unit is currently in use as retail space and is trading as a Eurospar supermarket comprising of commercial retail on the ground and first floor currently as stores and back office. Access for deliveries is located to the rear with on street parking to the front for customers, along Market Square itself. Besides the shop itself, there are four apartments, consisting of three two-bed room apartments and one one-bed apartment, which are all fully occupied and enjoying market rents. Tenancy details of the contract state that the lease period of the retail unit is 20 years. The Irish Independent, 11th December
Dublin Market Performance A total of 55 office lettings were registered in Dublin with the Property Price Register (“PPR”) between July 1st and November 11th this year. Almost half of these, 26, were lettings in Dublin 2, the area which is most popular for office lettings in the capital. The rest were spread across the city and suburbs. Among the larger lettings in Dublin 2 during the fourth quarter of the year was part of the first floor of Block D, at Irish Life’s 1GQ George’s Quay. According to the PPR, a 10-year lease was signed for an average annual rent of €350,192 pa. In Dublin 4 one of the most recent lettings saw property firm Rohan Group let out the ground floor of its 2 Grand Canal Plaza building at Grand Canal Street Upper for five years at an average annual rent of €419,624. Dublin 4 also saw the letting of 12,000 sq. ft at Glencar House, Merrion Road, Ballsbridge, which was developed by Killeen Properties. In this instance, the PPR shows that Jackson Square Aviation took a 15-year lease at an average annual rent of €784,062 during the third quarter of the year. The next busiest office district was Dublin 1 which includes the IFSC. One of Ireland’s largest property investors and developers, IPUT, announced in the third quarter that it has secured three new tenants for 3 Dublin Landings in North Docklands. Those had not been listed on the register by November 11th. The Irish Independent, 11th December
Malahide Road, Dublin 17 Glenveagh Homes is to lodge plans in the coming days for 1,350 residential units on lands adjoining Belcamp Hall off the Malahide Road. The move follows the builder purchasing €130m worth of property from Gannon Homes that includes the Belcamp site earlier this year. The Belcamp large-scale residential scheme (“LRD”) on a 119.5-acre site will comprise of 802 houses and 296 apartments across eight blocks ranging in height from three to five storeys. The scheme will also comprise of 252 walk-up apartments ranging in height from three to four storeys. The site adjoins Belcamp Hall and lies west of Malahide Road, north of the River Mayne. Glenveagh is seeking a 10-year planning permission from Fingal County Council in its LRD application. Gannon Homes had previously lodged strategic housing development plans in May 2022 to An Bord Pleanála for a 10-year permission for the construction of 2,527 residential units comprising 473 houses and 2,054 apartments. The firm withdrew the scheme in December of last year. The Irish Independent, 12th December
Ballyboden, Dublin 16 A Tidy Towns has taken its third legal challenge over planning approval for a development of more than 400 apartments near the Dublin mountains. Ballyboden Tidy Towns Group (BTTG), in a third judicial review over the proposed development at the former Augustinian seminary at Taylor’s Lane, wants orders overturning a permission granted last September by ACP. The permission, granted to Shannon Homes Dublin Unlimited Company, is for the development of 402 residential units. It is the third permission for the development, the previous two having been successfully challenged. The case will be heard next month. The BTTG and a local residents group got court orders in January 2022 overturning permission to build 486 apartments on the same plot. In its challenge to the third permission, BTTG claims it breaches domestic and European law. The Irish Times, 15th December
Residential-Zoned Land Tax Newly released data shows that the tax authority has collected over €14m in the new residential-zoned land tax (RZLT) owed by local authorities and state agencies for their own landholdings. The data, released by Revenue under freedom of information and provided by some bodies themselves, shows public bodies were liable for €19.5m during the first collection period of the new tax. The liability kicked in this February, replacing the largely ineffectual vacant site levy. Some costs were deferred or exemptions applied following back and forth with Revenue. The new 3% tax on the value of undeveloped land was introduced to discourage the hoarding of sites and spur the development of housing. The data shows that the bulk of the liability of public bodies is owed by local authorities, which were themselves tasked with drawing up maps of land subject to the tax. DCC has the biggest bill, coming in at €6.45m, according to Revenue data. To date, it has paid just over €3m of this liability. A council spokesperson confirmed that the tax was paid for 35 local authority-owned sites. It sought deferral of payment of the tax on 18 sites where planning permission has been granted and development has commenced, the spokesperson added. DCC’s own liability makes up a quarter of the total €25m due under the tax for 85 sites in its administrative area, stretching across the city centre. Overall, just €43.5m of the total tax liability of €119.9m owed this year has been paid to date. From 2,000 returns, the vast majority of deferrals, 413 cases with a combined liability of €63.4m, were for cases where construction has now begun. The tax was also deferred in cases where planning permission was granted, the owner appealed inclusion of their site in the tax net, or where there is a third-party appeal to ACP. Analysis of the data shows that private owners have availed of deferrals on a far greater scale than State bodies. Around 70% of the tax liability deferred this year, €70.9m of €98m deferred, concerned privately owned lands. The Currency, 15th December
Walkinstown, Dublin 12 Joseph Brennan Bakeries has secured planning permission for a sweeping overhaul and upgrade of its Walkinstown facility. Brennans applied for planning permission to South Dublin County Council earlier this year, looking to kick off a multi-year demolition, reconstruction and extension of its bakery. The plans received council approval last week. The business had grown over the last 50 years to employ over 200 staff and occupy an extensive site of over 5.9 acres at the Greenhills Industrial Estate. Having grown organically over the years, Brennans will develop a new 32,000 sq. ft bakery facility on the site of its existing car park. It also plans to build a new staff facility with offices and a 33,000 sq. ft van-loading building, complete with a green roof and solar panels. The planning approval was made subject to 24 conditions. The Irish Independent, 15th December
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Nationwide The iNua Collection, a regional hotels group backed by private investors, is set to go to the market in the new year as it looks to deliver an exit for investors. The group is likely to be valued at approx. €100m. Cork-based BlackBee, which went into liquidation in 2023, raised nearly €47m from loan note holders for the iNua Collection in 2018. Investors had expected a return within five years. The company operates eight hotels, including some Radisson Blu hotels, Muckross Park in Killarney and Tullamore Court. Management of iNua, who also run Cliste Hospitality, a third-party hotel management company, are keen to continue to have some involvement in the running of the hotels. Latest accounts for iNua show it had a turnover of €71.1m last year and a pre-tax loss of just under €2.7m. In an update sent to investors in September, the group said management were “pleased that occupancy at the hotels (an average of 80%) is outperforming our competitors”. The company posted EBITDA of €10.71m for last year, down from €11.43m in 2023. In 2023, iNua refinanced its portfolio with a €70m loan. Latest accounts show it owed Allianz Debt Investments and EQ Ecred Investments €69.75m. Sales proceeds of €100m could mean BlackBee investors recover roughly 60% of their investment. The Sunday Times, 7th December
Kilkenny City The Kilkenny Ormonde Hotel has been acquired by Lanthorn on behalf of TMR Hotel Collection. It was acquired from Jerry O’Reilly for up to €32m. Owned by Austrian investor Thomas Roggla, TMR has about 2,000 hotel rooms in Ireland. The Kilkenny Ormonde Hotel has 118 bedrooms and the sale was being pitched to include an adjacent multi-storey carpark. It was part of a sale of two properties being handled by JLL and dubbed Project Abbey. The other property included in the sales process was the Absolute Hotel in Limerick. The Irish Independent, 4th December
Dublin 2 Leonardo Hotels acquired the Hard Rock hotel in Dublin for just over €34m, newly filed accounts reveal. While the deal was revealed by the Business Post in July 2024, no details about the value of it, or how it was financed, were made public at the time. Accounts for Pebble Shore Limited, the parent company established for the deal by Leonardo’s owner Fattal, which is behind the former Jurys Inn hotel chain, show it acquired Rockyvale Limited, the hotel’s owner, for €34.1m. The investment included €33.5m on acquisition, plus an additional €600,000 cash infusion post-acquisition. It was financed by the company’s loans from banks and related parties. Pebble Shore’s accounts show it took a bank loan of almost €38m in the year, while it repaid a loan of €33.2m. Pebble Shore also received €15m in loans from a related party in 2024. The year before the acquisition the Hard Rock hotel’s then owner, Rockyvale Limited, had a €34m bank loan facility from AIB on its balance sheet. The Business Post, 5th December
Cork City Two new hotels are about to get off the ground in Cork City. The planned €18.5m hotel at No 71 South Mall, formerly home to National Irish Bank, will be a 58-bedroom boutique hotel called The Joshua. Co. Clare-registered financial advisory company Finbuild Ltd are his funding partners in the project, which will see a long-vacant former bank building returned to use in the city’s financial business district. Planning permission for the South Mall hotel was granted in 2019 to previous owners but has lapsed, so a new application is pending. Separately, the JMK Group, owned by the Kajani family and chaired by Pakistani-Irish businessman John Kajani, has served notice that it is commencing work on the aparthotel on South Terrace, for which planning permission was granted in 2022. The JMK Group project will see the conversion of three late-Georgian buildings, Nos 31, 32 and 33, into an aparthotel, which the group previously stated would operate under the Adagio brand. The group bought the buildings for approx. €1m about a decade ago. The planning grant includes permission for a five-floor over-ground floor and lower-ground-floor annex to the rear of the buildings, as well as an external landscaped courtyard. The Examiner, 5th December
Grafton Street, Dublin 2 Victoria’s Secret is to close its flagship store on Grafton Street and move to a new location in Dublin city centre. While the American lingerie brand has traded successfully from 28-29 Grafton Street since it opened there in December 2017, the building, which comprises some 20,000 sq. ft of retail space and storage, is now surplus to its requirements. The Irish Times understands that Victoria’s Secret has applied to the building’s landlord, Sretaw, to assign the remaining seven years of its lease to a new occupier. Sretaw acquired the Grafton Street building from Iput for €28m in 2023, and is understood to be in receipt of annual rent of €1.5m from its investment. The Irish Times, 5th December
Walkinstown, Dublin 12 The green light has been given to a large-scale 436 apartment development in Walkinstown after the withdrawal of a third-party appeal against the planning permission, planning documents reveal. The homes are set to be built in an industrial estate, with the owners of nearby commercial units fearing the development would lead to conflict between their operations and homeowners’ rights to quiet enjoyment. The planning permission was sought by Watfore Ltd, a development and property management subsidiary of Dairygold Co-Op, to demolish the existing site before building four apartment blocks ranging between six and 10 storeys in height. The development is set to be built in the Parkmore Industrial Estate on the Long Mile Road. In addition to the 436 apartments, the plans include a community library, cafe and commercial units. The Irish Times, 6th December
Kilbride, Co. Wicklow An Coimisiún Pleanála (“ACP”) has struck down an appeal by a subsidiary of housing developer Lioncor against the rejection by Wicklow County Council of planning permission for 666 homes in Kilbride. The proposed development was to be part of a 1,500 home master plan with an estimated price tag of €710m on the outskirts of Arklow. It was set to be made up of 578 semidetached and terraced houses and 88 apartments, with a creche and walking bridge across the Arklow marsh and the Avoca river. The rejected large-scale residential development application is the second phase of the master plan, with a further 750 homes planned for the third phase of the development. The council had cited concerns over the construction time frame of a bridge included in the plans, the number of homes representing overdevelopment of the area, the ecological impact of the project and that the development would lead to the population targets for the area being “materially exceeded”. The Irish Times, 6th December
Agricultural Land Values Ag land values grew by a robust 9.2% year on year in Q3 2025, bringing the weighted average value for all farmland to €13,045 per acre. Marginal grassland saw the strongest annual growth at 12.7%, while prime grassland grew by 8.9%. Average prices for arable land grew by 6.9% over the 12-month period. The Border region recorded the strongest annual growth in land values at 15.4%. The Mid-East continued to see the highest average land values at €16,438 per acre, while the lowest average values were in the West at €9,100 per acre. Key factors underpinning the strength of land values in the year to date include limited supply of land and strong demand reflecting strong growth in output prices and improved farmers income levels as well as lower borrowing costs. Sherry Fitzgerald Report, 4th December
Build Costs The cost of developing an apartment in Dublin has risen above €600,000 for the first time, new Department of Housing figures obtained by the Business Post reveal. The cost increase effectively wipes out half the savings from the recent Vat cut on apartments, the figures show. As the government published a major plan to eradicate infrastructure delays, a nationwide analysis of development costs has shown the price of building all types of homes in Dublin has risen by between 2%-3% in the year. Development costs for urban apartments have risen by more than €13,000 to €605,000, while the price of a suburban apartment rose by 2% to €559,000. The total cost of building a three-bed semi-detached house in Dublin increased by more than €14,000 to €465,000. The continued rising cost of apartments in particular will add strain to the government’s attempts to address the significant decline in construction of these units. Last year, the number of new apartments built fell 24.1% to 8,763. Industry forecasts have suggested apartment completions in 2025 could be down a further 25%. The Business Post, 6th December
Greater Dublin Drainage Project Uisce Éireann has announced it has reached a legal agreement which means a major sewage treatment project, critical to the provision of housing in the capital in future, will proceed. The €1.3bn Greater Dublin Drainage Project was held up by a judicial review, but Uisce Éireann said construction contractor procurement will now commence in February 2026. In July, the project was given the green light by ACP. In September, a legal challenge was lodged against the project by Wild Irish Defence. Today Uisce Éireann announced: “The settlement was achieved following constructive engagement between all parties and avoids the need for a full court hearing. As part of the agreement Uisce Éireann committed to some additional measures, to further enhance public confidence in the environmental benefits of the project.” Uisce Éireann began a pre-application process in 2012 and an application was lodged in 2018. It was subject to an initial judicial review in 2020. Rte.ie, 5th December
Rosslare, Co. Wexford Iarnród Éireann, the port authority for Rosslare Europort, has confirmed it will seek planning permission for a major redevelopment of the Wexford port. The proposed Rosslare Offshore Renewable Energy Hub is described by the company as a “landmark” facility designed to support Ireland’s growing offshore wind industry. The €220m project is expected to create 2,000 long-term jobs in the region and support the country’s renewable energy transition. The government first signed the contract for multi-million euro infrastructure upgrade in May 2023. The plans, which will be submitted to ACP next week, outline what would be the state’s largest purpose-built port facility dedicated to offshore renewable energy. If planning approval and funding are secured, construction is scheduled to begin in early 2027, with delivery targeted for early 2029. The almost 200 acre development will feature two heavy-lift berths designed for offshore renewable energy components, storage, marshalling and assembly and a new 64-berth small boat harbour. The Business Post, 3rd December
Construction Sector Activity in the construction sector continued to decrease in November, for the seventh month in a row, according to the latest Purchasing Managers’ Index from AIB. The survey said new orders continued to fall, amid further signs of demand weakness in the construction industry. The headline seasonally adjusted Construction Total Activity Index moved further below the 50 no-change mark last month, dropping to 46.7 from 48.1 in October. AIB said anecdotal evidence pointed to slowing demand and a drop in new orders, which it said meant that volumes of new projects were insufficient to fully replace completed contracts. The Construction PMI recorded a fall in activity across all three monitored categories in November as commercial registering “a renewed and solid decline in activity.” Work on housing projects fell for the seventh consecutive month, but at the slowest pace since June. Civil engineering posted the sharpest decline, as the rate of contraction accelerated from October. The report said new orders decreased for the fourth consecutive month “as companies reported weak demand and project delays.” “Commercial construction fell back into contractionary territory in November, having seen a modest pace of expansion in October,”. Rte.ie, 9th December
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Cookstown Industrial Estate, Dublin 24 Savills are quoting €2.5m for unit 9 on First Avenue, which extends to 19,919 sq. ft, of which 7,204 sq. ft are in offices. The building is being sold by Manning Construction, who has also been operating from the premises. According to Savills, it is the sole standing industrial building between 15,000-30,000 sq. ft available for sale in south Dublin. It is suitable for a wide variety of industrial uses and is zoned REGEN under the current South Dublin County Development Plan. It has a clear internal height of 6.1 metres and benefits from two roller shutter doors. It also shares a yard with its neighbour. Other businesses in the area include a strong mix of occupiers such as Phoenix Healthcare, Windsor Belgard and House of Padel. The estate is situated off the Belgard Road, providing ease of access to Junction 10 and 11 of the M50 and is within a 30-minute drive of Dublin city centre, the airport and Port Tunnel. The Irish Independent, 27th November
Cavan Town The O’Callaghan Family Group has taken ownership of the Hotel Kilmore in Cavan. While the price paid by the group to the 74-bedroom hotel’s outgoing owners, the Mealiff family, has not been disclosed, The Irish Times understands from market sources that the Kilmore secured €11m, or an average of €148,648 per key, in the off-market deal. Located in a high-profile position on the Dublin Road on the approach to Cavan town centre, the four-star hotel’s guest accommodation is complemented by the Annalee Restaurant and the Killykeen Bar. The hotel is a popular wedding banquet venue and also features two large conference suites and two smaller meeting suites. News of the transaction comes just over 16 months after the O’Callaghan Family Group completed its purchase of the 69-bedroom Keadeen Hotel in Newbridge. The group’s growing portfolio includes the Fairways Hotel and the Gateway Hotel in Dundalk, Co Louth. The Irish Times, 26th November
Oranmore, Co. Galway Connacht Hospitality Group has confirmed plans for what will be Galway’s first new five-star hotel in more than 20 years, as The Hawthorn by Galway Bay readies for opening in early 2026. The €60m development will combine a luxury hotel, a championship golf course and an experiential wellness spa. The project is rooted in a long-held vision by the late Christy O’Connor Jnr, who designed the original Galway Bay Golf Course in 1993 and envisaged the site as an international destination for golf and leisure. The Connacht Hospitality Group has spent the past decade assembling the land and assets required to redevelop the former Galway Bay Golf Resort. The Business Post, 28th November
Townsend Street, Dublin 2 A seven-storey, 434-bed hostel development has been granted planning permission at an “eyesore” location on Townsend Street. Planning permission was sought by ORHRE Management Services Limited for the 97 shared room development at a long-derelict site at the corner of Lombard Street East. The Guinness sign on 114 Townsend Street remains the only indication of its previous life as the Countess Markievicz pub. The structure of both buildings is largely intact, but number 112, once the Grand pub, is largely vacant. The site is now set for partial demolition, but the facade at 114 Townsend Street is to be retained. The new hostel rooms will be a mixture of two- to 10-bed units amounting to 434 beds for tourist use, with the addition of a ground-floor cafe and kitchen in the building, which will rise to as much as seven storeys. The upper two floors will be set back. DCC approved the development last week. A sum of €357,399 is required to be paid to the council as a development contribution, with a further €131,575 to be paid as the development is within the catchment area for the Luas docklands contribution scheme. The Irish Times, 1st December
Nationwide Soaring fit-out costs are making it hard to justify growing in Ireland, according to Curry’s Ireland, which already operates 16 stores across the country. The company has invested over €2m in recent years, enhancing its stores as it pursues a strategy of sweating more from its assets. A spokesman stated that “with the inflation that is there, it is just hard to see the payback in the short-term. It is well north of €1.5m to fit out a store to the Currys’ standard.” The Irish Independent, 25th November
Blackrock, Co. Dublin Vincent Finnegan is offering a high-profile residential site for sale by tender at a guide price of €6m. Located on Newtownpark Avenue and just 50 metres from the N11 quality bus corridor, the subject property, which extends to 1.6 acres, comprises two houses – Selandia and the Paddock – and an afterschool centre known as the Willow House Afterschool. The subject site is zoned Objective A under the terms of the DLRCC Development Plan 2022-2028. This objective supports residential development and residential amenities. The subject site is for sale by tender with the final date for receipt of tenders set for Friday, January 30th, 2026. The Irish Times, 19th November
Dún Laoghaire, Co. Dublin Brian M Durkan Ltd is understood to have paid over the €5.25m guide price for a site close to the waterfront in Dún Laoghaire. Fitzwilliam Real Estate group (“FRE”) had secured full planning permission for 74 build-to-rent apartments on the site on Crofton Road located to the rear of St Michael’s Hospital which has been accommodating a car park and a two-storey house. The price for the 0.8 acre site was the equivalent of about €6.5m per acre which was the highest price per acre paid in Dublin during the third quarter of this year. The selling agent was Knight Frank. The approved scheme will have uninterrupted views across Dún Laoghaire harbour and have a number of amenities on its own site including a gym, and social and co-working areas. Its existing planning approval consists 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 part four to eight storeys. FRE had previously offered it for sale in 2019 with an asking price of €6.5m even though at the time it did not have the planning permission. FRE had also submitted an alternative strategic housing development application for 102 rental apartments and An Coimisiún Pleanála’s website showed no decision on that application by the time we went to press. The Irish Independent, 20th November
Celbridge, Co. Kildare The state has purchased around 235 acres of land surrounding the Castletown House estate for €11.25m, €4m more than it was valued at two months ago. The Office of Public Works (OPW) already owned the house itself and about 237 acres of the surrounding landscape. Minister of State at the OPW, Kevin Moran, said the agreed purchase price was supported by a business case as well as a report from Lisney, who advised in September of this year that the market value of the lands was between €7.25m and €7.5m. The lands are set to be conserved and managed as a heritage amenity, and a plan for this will be drawn up alongside Kildare County Council. The Business Post, 19th November
Cork University College Cork is to review its extensive land and property bank to identify which if any of its sites surplus to requirement might be suitable for housing/rezoning. UCC is among the 119 applications this month to Cork City Council’s call under the National Planning Framework for additional residential lands, to accelerate housing delivery. The dozens of applications span city core and fringe area, including from the likes of Cairn Homes at Lotamore, JCD Group off the Mallow Road, Jacobs Engineering for a site in Mahon, along with a raft of house builders and landowners, for tracts of land, from infill to some in excess of 100 acres on all corners of the city boundary. UCC employs over 3,000 people and has expansive land assets, including at Curraheen, North Mall and the city centre, spanning some 86 hectares, with over three million square feet of built structures over approx. 150 buildings. The Examiner, 21st November
Rathdrum, Co. Wicklow TWM has been engaged by Avondale Forest Park’s custodian, Coillte, to seek expressions of interest from parties looking to enter into a long-term ground lease for the development of between 40 and 50 guest cabins (subject to planning permission) within the grounds of the park’s 494 acre estate. Located just 1.5km south of the village of Rathdrum, Avondale Forest Park was Coillte’s most popular site in 2024, with almost 340,000 visits. The estate was acquired by the Irish government in 1904 and became home to Ireland’s first forestry school. In 2022, Coillte opened its flagship visitor attraction, Beyond the Trees Avondale, featuring a 700-metre Treetop Walk, and a 12-storey viewing tower with giant slide. In 2023, Coillte completed a refurbishment of Charles Stewart Parnell’s birthplace, the historic Avondale House, further enhancing the location’s reputation as a leading visitor attraction. The Irish Times, 26th November
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Stillorgan & Blanchardstown, Dublin Parking fees of €1.20 per hour have been introduced at Stillorgan Village Shopping Centre. The hourly charge will be in operation from Monday to Saturday between 9am and 6pm, and on Sundays and Bank Holidays between 12pm and 6pm. The car park, which is owned along with the shopping centre by Kennedy Wilson, are operated by private parking company Euro Car Parks Ireland. The announcement comes days after residents protested plans to introduce car park barriers at Blanchardstown Shopping Centre. Locals were reacting to a planning application submitted to Fingal County Council in September by Blanche Retail, a subsidiary of global investment firm Strategic Value Partners, which acquired the shopping centre and car parks in February. The application includes a proposal to introduce “car parking management controls” to the multistorey and surface car parks. In 2022, the Liffey Valley Shopping Centre in west Dublin introduced charges of €2.50 for the first three hours of parking, after which an hourly rate of €2.50 is in place. At the time, the shopping centre’s manager, US property giant Hines, said the fees were being introduced to grow “new and more sustainable ways to access Liffey Valley”. The Irish Times, 19th November
Oranmore, Co. Galway The Nightline Logistics Group facility at Deerpark Industrial Estate in Oranmore is being offered to the market by Harvey guiding €5.95m. The subject property comprises a detached, purpose-built warehouse and office building of 56,292 sq. ft. Developed in the year 2000 and refurbished earlier this year, the building has six dock levellers, a 47m-deep service yard to the rear and a clear internal height of 12m. Deerpark Industrial Estate is located 2km from junction 19 on the M6 motorway and 11km from Galway city. The property is let to Nightline Logistics Group Unlimited at a passing annual rent of €447,545. Should a sale proceed at the guide price, the new owner would be in line for a NIY of 6.8%. The tenant has been in occupation of the building since 2013 and in June 2023, extended its commitment to the building for a further five-year term. Nightline Logistics Group Unlimited is an Irish registered company, founded in 1992, and was acquired by US logistics giant UPS in 2017. This building is the main distribution hub for UPS in the western region of Ireland. The Irish Times, 19th November
Tallaght, Dublin 24 M7 Real Estate is seeking a tenant for its refurbished Unit K South City Business Park, Whitestown Way. CBRE is quoting €20 psf for the industrial/logistics property which extends to 16,854 sq. ft and incorporates two-storey office accommodation and secure private yard on a site of approx. 0.94 acres. Specification comprises of steel portal frame construction with an insulated metal deck roof incorporating translucent roof panels and a clear internal height of 9.6m metres. Loading access is provided via one dock leveller and one grade door with the benefit of a private and secure concrete yard. The office accommodation extends to 3,976 sq. ft and will be predominantly laid out in an open-plan configuration. South City Business Park is well-established and offers easy access to Dublin’s arterial routes such as the M50 (Junction 11) eight minutes away. The Irish Independent, 20th November
Cork City The Flying Enterprise bar and business premises has just sold for over €5m, making it the biggest bar sale across Munster this year. The vastly expanded licensed and entertainment premises includes the Courtyard Bar, a shop, off-licence, and five overhead apartments. Agent Cohalan Downing said the buyer was local, with international backing, and it would continue to run as a trading entity, with all staff retained after the O’Shea family owner’s decision to retire. Near St FinBarre’s Cathedral, the South Mall, and the Brewery Quarter, the mixed-use commercial/licensed property earns €185,000 per year in rents separate to bar income: Munster Technological University pays €105,000 a year to lease three classrooms in the building, and the five apartments add another €80,000 annually. It was this very level of combined income that drove the sale price to just under the €5.3m asking price. The Examiner, 20th November
Harmony Row, Dublin 2 Knight Frank is guiding €2.9m for the second-floor office at Unit 7, Harmony Court. Located just 400m from Pearse Street Dart station, the subject property comprises 5,536 sq. ft of fully fitted office accommodation along with four secure basement car-parking spaces. The offices are largely open-plan and are complemented by a reception and seating area, three private offices, a dedicated boardroom and a fully fitted kitchen. Unit 7 comes for sale with vacant possession. Designed by Henry J Lyons Architects and completed in 2005, Harmony Court occupies a prime location within Dublin’s central business district between Grand Canal Dock, Merrion Square and Trinity College. The surrounding area is home to a range of leading occupiers including Google, Accenture, HSBC and William Fry. The Irish Times, 19th November
Blackrock, Co. Dublin Vincent Finnegan is offering a high-profile residential site for sale by tender at a guide price of €6m. Located on Newtownpark Avenue and just 50 metres from the N11 quality bus corridor, the subject property, which extends to 1.6 acres, comprises two houses – Selandia and the Paddock – and an afterschool centre known as the Willow House Afterschool. The subject site is zoned Objective A under the terms of the DLRCC Development Plan 2022-2028. This objective supports residential development and residential amenities. The subject site is for sale by tender with the final date for receipt of tenders set for Friday, January 30th, 2026. The Irish Times, 19th November
Dún Laoghaire, Co. Dublin Brian M Durkan Ltd is understood to have paid over the €5.25m guide price for a site close to the waterfront in Dún Laoghaire. Fitzwilliam Real Estate group (“FRE”) had secured full planning permission for 74 build-to-rent apartments on the site on Crofton Road located to the rear of St Michael’s Hospital which has been accommodating a car park and a two-storey house. The price for the 0.8 acre site was the equivalent of about €6.5m per acre which was the highest price per acre paid in Dublin during the third quarter of this year. The selling agent was Knight Frank. The approved scheme will have uninterrupted views across Dún Laoghaire harbour and have a number of amenities on its own site including a gym, and social and co-working areas. Its existing planning approval consists 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 part four to eight storeys. FRE had previously offered it for sale in 2019 with an asking price of €6.5m even though at the time it did not have the planning permission. FRE had also submitted an alternative strategic housing development application for 102 rental apartments and An Coimisiún Pleanála’s website showed no decision on that application by the time we went to press. The Irish Independent, 20th November
Celbridge, Co. Kildare The state has purchased around 235 acres of land surrounding the Castletown House estate for €11.25m, €4m more than it was valued at two months ago. The Office of Public Works (OPW) already owned the house itself and about 237 acres of the surrounding landscape. Minister of State at the OPW, Kevin Moran, said the agreed purchase price was supported by a business case as well as a report from Lisney, who advised in September of this year that the market value of the lands was between €7.25m and €7.5m. The lands are set to be conserved and managed as a heritage amenity, and a plan for this will be drawn up alongside Kildare County Council. The Business Post, 19th November
Cork University College Cork is to review its extensive land and property bank to identify which if any of its sites surplus to requirement might be suitable for housing/rezoning. UCC is among the 119 applications this month to Cork City Council’s call under the National Planning Framework for additional residential lands, to accelerate housing delivery. The dozens of applications span city core and fringe area, including from the likes of Cairn Homes at Lotamore, JCD Group off the Mallow Road, Jacobs Engineering for a site in Mahon, along with a raft of house builders and landowners, for tracts of land, from infill to some in excess of 100 acres on all corners of the city boundary. UCC employs over 3,000 people and has expansive land assets, including at Curraheen, North Mall and the city centre, spanning some 86 hectares, with over three million square feet of built structures over approx. 150 buildings. The Examiner, 21st November
Raheny, Dublin 5 The Little Sisters of the Poor is selling the Sacred Heart Residence, a fully operational nursing home in Raheny. The sale is being offered to the market as a going concern through Avison Young. Market sources expect it to command offers in the region of €20m. Located on Sybil Hill Road, the subject property comprises a large complex of 199,543 sq. ft on a landscaped 6.53 acre site adjacent to St Anne’s Park. It includes an 85-bed registered nursing home, 26 independent-living apartments, a chapel, auditorium, former convent accommodation and parking for 55 cars. Originally purpose-built on behalf of the sisters by Sisk in the early 1970s, the complex is divided into six interconnected blocks and offers scope to an incoming owner for immediate operational uplift. A feasibility study prepared by CWPA Planning & Architecture outlines the options for reconfiguration and redevelopment to increase the number of rooms at the complex, subject to planning permission. The property is zoned Z15 (“Community and Social Infrastructure”) under the Dublin City Development Plan 2022–2028. The Irish Times, 19th November
Dublin MetroLink plans to collaborate with the LDA, housing bodies and organisations to deliver dedicated accommodation for its estimated 8,000-strong workforce. Once the project is completed, the new housing stock could then be transferred back to the state, a spokesman from MetroLink confirmed to the Business Post. On Wednesday, MetroLink programme director Sean Sweeney told an Oireachtas committee that the 18.8km Dublin metro project will require 8,000 workers to complete, with many to be brought from overseas due to the limitations of Ireland’s workforce. “There are no firms of the scale and expertise in Ireland to run those major contracts,” Sweeney said. “They will bring a proportion of workers in and they’ll be looking to supplement that with local labour.” “The top line is that the Irish construction industry cannot support the construction of this project,” he added. MetroLink, approved last month by An Coimisiún Pleanála, will run 18.8km from Swords Estuary to Charlemont in Dublin 2. It will include 16 stations and have the capacity to carry up to 20,000 passengers per hour in each direction. The upper-end Department of Transport estimate for MetroLink stands at €23 billion, though final costs are expected to be lower. The Business Post, 20th November
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Dunshaughlin, Co. Meath Tesco is due to open its new anchor store at The Willows in Dunshaughlin in the coming weeks. With over 860 homes on-site, Hooke MacDonald is now seeking occupiers for three of the adjoining units at the development’s commercial centre. The available properties include one ground-floor retail unit and two fully fitted medical suites. All three units are positioned next to Tesco’s store, with shared surface parking and direct pedestrian access through the scheme. The retail unit extends to 1,292 sq. ft and would be suited to convenience retail, pharmacy, cafe or service retail operators and the quoting rent is €40,000 a year. The two medical suites each extend to 2,718 sq. ft and come to the market fully fitted with consultation rooms, waiting areas, HVAC and staff facilities. The quoting rent is €45,000 per suite a year. The Irish Times, 11th November
Merchants Quay, Cork City More than a decade after it left the city, HMV is making a high street comeback, with a new store set to open in Merchants Quay in time for Christmas. In a deal brokered between Savills and Bannon, the music and entertainment retailer has taken out a 10-year lease on the outlet, at a rent of €90,000 pa. Previously occupied by Dealz, which closed earlier this year, the 3,000 sq. ft unit will become the city’s newest record store. Just two other units on the mall remain vacant, with Savills in discussion with potential tenants in relation to both units. The decision by HMV to open a store in Cork, its third in the Republic, is part of a broader European growth strategy for the brand, which has also opened new stores in the UK and the Netherlands. HMV reopened its Dublin store in 2023 and a Limerick store last year. The Irish Examiner, 12th November
North Dublin The UK’s largest urban logistics property developer and asset manager is closing in on the purchase, for over €60m, of a large-scale industrial portfolio. Chancerygate is understood to have seen off competing offers for The North Gate portfolio, a collection of 12 properties distributed across a total gross external area of 341,900 sq. ft at Furry Park Industrial Estate and North Dublin Corporate Park. The portfolio, which is fully let, was offered to the market by Savills on behalf of Iput at a guide price of €55m in September. Seven of the properties are located at the Furry Park scheme while the remaining five units are located in North Dublin Corporate Park. The Irish Times, 11th November
Swords Road, Dublin 9 Chancerygate is also currently in the process of developing a logistics scheme comprising 119,500 sq. ft of space at a site on Swords Road in Santry. The new urban logistics park will comprise 13 units ranging in size from 3,600 sq. ft to 22,370 sq. ft. Airport Trade Park, as it will be known, will have a gross development value of approx. €45m upon completion. Chancerygate and its longstanding investment partner, Bridges Fund Management, acquired the Santry scheme’s five-acre site for €4.5m from Carey Building Contractors in 2022. The site’s former owners had used the property previously for office accommodation and civil engineering yard space. In addition to Dublin, Chancerygate also has European offices in Madrid and Lisbon. The Irish Times, 11th November
Newtown, Co. Dublin Rohan Holdings is seeking an occupier for Drake House, the new large-scale logistics facility it is developing with Castlebrowne Construction at Dublin Airport Logistics Park. Joint agents Cushman & Wakefield and Savills are marketing the building, which at 289,192 sq. ft is the largest stand-alone logistics unit being built in the Dublin market at present. Construction of the property started in the third quarter of this year and practical completion is expected in the second half of 2026. Drake House will have a clear internal height of 59 ft, giving occupiers far more storage capacity than that offered by the prevailing market standard of 46 ft. The building will have loading access via 24 dock levellers and four loading doors. In terms of its sustainability, the building is targeting BREEAM Excellent certification and an A3 Ber rating. The Irish Times, 11th November
Grangegorman, Dublin 7 Commerz Real has paid €22.35m for the Swuite student accommodation complex in Grangegorman. The development, with 128 beds in 123 rooms across five floors, was acquired from its developer, the Iveragh Group, in an off-market transaction. The complex will be rebranded as Grangegorman House and operated on Commerz Real’s behalf by Mezzino, a company specialising in student apartments in Ireland and the United Kingdom. Each of the Swuite complex’s 123 rooms has a private bathroom, while groups of six to eight rooms share a communal kitchen. The building also features common areas that include lounges, study rooms and a cafe. The scheme is currently fully let and is expected to benefit long-term from the strong demand for student housing in Dublin, which has about 90,000 third-level students at present. Swuite is located next to TUD’s main campus at Grangegorman. Commerz Real was advised on the transaction by Savills, while the seller was advised by Cushman & Wakefield. The Irish Times, 11th November
Harcourt Street, Dublin 2 Iput has secured permission to demolish part of the Harcourt Centre and build a new office block on the site. The company applied for permission in July to knock down blocks 2 and 3 of the Harcourt Centre and build a new 11-storey building on the site. The proposed new development, which would span approx. 196,000 sq. ft, would replace the existing eight-storey structure on the corner of Harcourt Street and Charlemont Street. Dublin City Council has now approved the proposal by Iput, paving the way for a large expansion of the existing 86,000 sq. ft building on the site. Most of the new building would be made up of 189,000 sq. ft of office space, with a further 6,500 sq. ft set aside for cultural or community space and a small café. The Business Post, 18th November
Hook Peninsula, Co. Wexford. Loftus Hall has been sold for €3m. The property, which sits on 68 acres overlooking Hook Peninsula and Hook Lighthouse, has been acquired by investor Patrick McDermott. He is also the founder of Meath-based Star Stone Property Group, whose portfolio includes High Street Ashbourne, which it acquired for €12.5m, and Southgate Shopping Centre in Drogheda, which it purchased for €13.2m. Star Stone has completed a number of deals in Dublin and Cork with backing from London-based bookmaker and owner of Star Sports Ben Keith, and Brighton FC owner Anthony Bloom. Loftus Hall briefly comprises a detached nine-bay, three-storey house with a total gross internal area of 26,487 sq. ft. In 2022, Paddy McKillen jnr and Matt Ryan’s Oakmount paid €1.75m to acquire Loftus Hall and set about restoring and converting the property into a boutique hotel. While offers of €4m were sought initially, Mr McDermott moved to secure ownership of the property when the price was reduced to €3m. The Irish Times, 11th November
Swords, Co. Dublin A 1.38 acre site at Forster Way, currently in use as a car park, is being offered to the market by JLL with full planning permission for the development of 79 apartments at a guide price of €6.2m. Located just 50 metres from Main Street in Swords, the subject site currently comprises a 105 space surface-level car park. The facility is being operated by Euro Car Parks on a short-term contract and produced a net operating income of €395,000 in 2024. There is scope to increase the car park’s revenue with an additional 29 car spaces recently delineated within the site’s boundary. The site’s medium to longer term potential is contained in the planning permission granted by Fingal County Council in July 2024 for 79 apartments, 2,248 sq. ft of retail space and a two-storey senior citizen centre extending to 8,686 sq. ft. The approved development is to be laid out over six storeys over a single-level basement. The Irish Times, 11th November
Dublin Evara is understood to have paid approx. €50m for three south Dublin sites with the potential for more than 600 new homes. The price equates to an average of €1.22m per acre. The land in Kilternan is located on opposite sides of the recently opened Glenamuck District Distributor Road. The land involves two separate acquisitions extending to a combined 21 acres. These are zoned for housing and have potential for 350 new homes, subject to planning permission. Evara envisages a mix of two-bed, three-bed and four-bed homes with planning applications due to be lodged this year and early in 2026. The Citywest land extends to 20 acres and is zoned for residential development. Proposals are currently going through the LRD pre-planning process with South Dublin County Council and Evara expects that a planning application could be lodged later this year. It is proposing to develop 269 homes as part of a combined 611 home planning application being lodged in partnership with an adjoining landowner. The Irish Independent, 13th November
Tralee, Co. Kerry A development land bank with rental income in Tralee has come to the market through McQuinn Property Services guiding €4.5m. With prospects for up to 140 homes as well as a major student village, the land extends to 32.8 acres is in the suburb of Ballybeggan adjacent to Munster Technological University in Kerry Technology Park. Fully zoned under the Tralee development plan, it is available in one or multiple lots: Lot 1 zoned R1 residential extends to 13.38 acres; Lot 2 zoned C7 – Education, Innovation & R&D extends to 17.14 acres; Lot 3 zoned C2.1: Industrial, enterprise & employment includes a commercial yard with residential unit and extends to 1.72 acres; Lot 4 zoned Buffer/conservation/amenity/landscape protection extends to 1.2 acres. A feasibility study by Kane Williams Architects indicates that the C7-zoned lands could support a student village for up to 900 students and this site is guiding €2.1m. The Irish Independent, 13th November
Swords, Co. Dublin Quantum Property Consultants are guiding €2.5m for 7.66 acres located on Cooks Road, Forrest Great, Swords. The land contains some large steel frame constructed agricultural buildings with corrugated exterior steel façade, measuring approx. 30,000 sq. ft. There are also some temporary cabins on site. The proposed Metro Link station at “Ridgewood” is approx. 3kms away. There are currently 20 operators utilising the site with verbal agreements in place producing an annual income in the region of €156k which is set to increase to approx. €250k in January 2026. No formal lease agreements are in place. The site is located in an area that is designated “Greenbelt” under the Fingal Development Plan 2023-2026. Quantum Property Consultants Press Release, 14th November
Drogheda, Co. Louth Paul Anderson is preparing to build 172 apartments and a six-storey hotel next door to the Scotch Hall shopping centre. Anderson bought the Scotch Hall mall for approx. €21m in 2023. In separate applications filed with Louth County Council in recent weeks, Hall Scotch Venture 2, a company associated with Anderson, applied to build the schemes on the two adjoining sites. It is looking to build a €36m apartment development, comprising five six-storey blocks. It will include a crèche and three retail units, and be located just 100m from the mall. In 2021, the previous owner of Scotch Hall, developer Gerry Barrett, sought to build 275 apartments, including a 12-storey block, on the site, but its planning permission was quashed by the High Court. If the hotel is approved, it will comprise 107 bedrooms, a lobby, bar and dining area, with reserved car parking spaces allocated in the shopping centre car park. Drogheda is without a large operational hotel after the D Hotel, which is also adjacent to the shopping centre, was used to provide accommodation for international protection applicants. That contract is due to expire in March and its renewal is uncertain. The Sunday Times, 16th November
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Kevin Street, Dublin 2 Camden Yard is set to come back on the market after a European real estate fund failed to close its acquisition of the site by last Friday. Orange Capital Partners (OCP) had been in exclusive negotiations to purchase the site since last August, having submitted a €91m offer, just above the €90m guide price. OCP failed to complete the purchase by last Friday and instead sought an extension to its exclusivity period at a reduced offer price. The receivers, John Boland and Nicholas O’Dwyer of Grant Thornton, are understood to have rejected the proposal and are now preparing to invite new bids for the site. Despite its prime location, Camden Yard has been hit by repeated delays and financial problems. Work was halted in September 2024 when the project ran into difficulties, before it was placed into receivership by its lenders. The Currency reported in August 2025 that contractors, who are owed over €10m, were seeking assurances from OCP about payment and future work in relation to the site. The Currency, 31st October
Dawson Street, Dublin 2 Having come to the market at the end of August, number 54, which is fully let to a range of occupiers, sold in just eight weeks for €3.25m (5.85% gross yield) to a private investor. The price paid represented a 14% premium on the €2.85m which had been guided by Colliers. Located immediately adjacent to the Dawson Street Luas Green Line stop and within a short walk of Grafton Street, the 4,882 sq. ft property is fully let and generating €189,650 in annual rental income from four tenancies. It has a weighted average unexpired lease term (WAULT) of just over 2 years to break and 7.6 years to expiry. The ground floor and basement level are let to Carebrook Partnership Ltd, trading as Pret A Manger, on a 15-year lease commencing February 2022 at €110,000 pa, with a tenant-break option in February 2029. Knight Frank advised the Purchaser. The Irish Times, 29th October
Galway City Centrepoint, a fully let office block at Liosbán Business Park, is being offered for sale by Harvey at a guide price of €2.75m. The property, which extends to 16,881 sq. ft, is let to Galway County Council, at a passing rent of €280,000 a year, equating to €16.60 psf. The tenant occupies the building under a 10-year full repairing and insuring lease commencing in December 2024, following their original lease which began in 2006. The lease includes tenant-break options in June 2030 and December 2031 along with a rent review scheduled for December 2029. Centrepoint is occupied by the council’s Environment Water Services unit. A €2.75m sales price would equate to a 9.25% yield and an underlying capital value of only €163 psf. The Irish Times, 29th October
North Wall Quay, Dublin 1 Knight Frank is quoting a rent of €65 psf for new office space at the Heysham, a nine-storey property comprising a total of 25,000 sq. ft of office accommodation. Located beside the headquarters of the Central Bank and Dublin Landings, the building is being made available to let on a floor-by-floor basis with floor plates ranging in size from 2,500 to 3,000 sq. ft. The office accommodation has 2.7m floor-to-ceiling heights, a business lounge within its reception area along with a range of on-site facilities that include 60 bicycle parking spaces. A joint venture comprising Derek McGrath’s Core Capital and Paddy McKillen jnr’s Oakmount acquired the property with the Brennan family as equity backers in 2019 from Arthur Molloy and Michael Sherry, of Molloy & Sherry Logistics for approx. €10m. The Brennan family’s Fusion Investments has since assumed full ownership of the building. The Irish Times, 29th October
Newmarket Square, Dublin 8 Digital marketing agency Dept has agreed a deal with the Rhatigan Group for new offices at Newmarket Square. Dept will occupy all three floors (7,271 sq. ft) of Thomas Burgh House on a new 10-year lease. While the rental level has not been disclosed, the company is understood to be paying about €42 psf. Known formerly as St Luke’s Church, the building was restored and redeveloped as an office building by the Rhatigan Group and served as its own Dublin headquarter offices until recently. The building’s office space and breakout areas have views through its original church windows while the property is surrounded by landscaped gardens with seating and secure bike parking. The Irish Times, 29th October
Swords Road, Co. Dublin Windward Management has signed a new long-term lease for the fourth-floor penthouse offices at Corballis Hall. While the rent has not been disclosed, The Irish Times understands the company has agreed to pay approx. €35 psf for its accommodation. Completed in 2020, the subject property comprises 19,999 sq. ft of sustainable grade A office accommodation. The building’s floor plates are regular in shape, with 32 underground car-parking spaces coupled with secure bike-parking spaces. The building carries an A3 BER rating. Three floors are still available, with an average size of 5,300 sq. ft. Corballis Hall is located within a five-minute drive of the M50 and M1 motorways. The adjacent Dublin Airport campus is home to more than 200 businesses, which together employ more than 19,000 people. The Irish Times, 29th October
Eastpoint Business Park, Dublin 3 Enterprise Ireland, the state agency with responsibility for promoting Irish-owned companies, is weighing up a move from its Eastpoint business park headquarters. The agency has hired CBRE to see whether it can find more than 118,000 sq. ft of office space in Dublin City. When the agency moved into newly built offices in Eastpoint in 2006, it brought all of its 650 employees in Dublin under one roof. The letting was one of the largest in the office market that year, with Enterprise Ireland agreeing to pay approx. €22 psf. It occupies two office blocks in the business park, comprising approx. 142,000 sq. ft. It signed two separate leases, paying an annual rent of over €1.85m for each office block. Both leases are due to expire in 2031 but the agency has a break clause in 2027. The Sunday Times, 2nd November
CBRE Report The deglobalisation threat and the subsequent volatility in goods tariffs around ’Liberation Day’ led to some hesitancy among occupiers in the industrial sector in Dublin in early 2025. However, occupiers began to re-engage with decision-making as the year progressed. This momentum continued into Q3, where take-up was solid, if not spectacular, but there is now visibility on a potentially bumper quarter of deal closures ahead in Q4. Dublin take-up totalled approx. 550,000 sq. ft in Q3, down 10% on Q2, but taking total YTD 2025 deal activity to approx. 1.77m sq. ft, 60% ahead of the same period in 2024. The largest transaction of Q3 was JMC Van Fleet’s lease of an approx. 151,000 sq. ft refurbished facility at Ballymount Logistics Hub (owned by M7 Real Estate). A number of impending deal closures point to an imminent uplift in rental levels before year-end, with prime rents projected to exceed €14.0 psf. CBRE Q3 Industrial & Logistics Report, 30thOctober
Clonmel, Co. Tipperary A 20-acre residential development site near Clonmel town will go for public auction on 18th November. Joint agents Sherry FitzGerald Pollard FitzGerald and REA Stokes & Quirke are guiding an advised minimum value of €2.2m. It is believed that a developer might get permission to build up to 20 homes per acre as demand is strong in the town and the site will benefit from its extensive frontage onto the R688 Clonmel-Cashel Road at Ard Gaoithe. This location represents one of the last remaining major zoned residential landbanks in close proximity to Clonmel town. The lands are level, easily accessible, and positioned on a key gateway route. The property is surrounded by well-established residential neighbourhoods and positioned within walking distance of Clonmel’s largest employment hub, home to leading global companies including Boston Scientific and Abbott Vascular. The Irish Independent, 30th October
Clonburris, Dublin 22 The State’s Housing Agency has entered into a contract with Cairn Homes to deliver 332 apartments for sale to owner-occupiers at a newly built town under a scheme designed to bridge the affordability of apartment construction. The one- and two-bedroom apartments will be available for €225,000 and €350,000, respectively, at Seven Mills, a new urban development on the banks of the Grand Canal between Clondalkin and Lucan. The contract will comprise 83 one-bedroom and 249 two-bedroom units. The housing body said its call for proposals under the Croí Cónaithe scheme, which closed in August, generated more than 40 submissions for nearly 6,000 apartments. The scheme was launched in 2022, aimed at subsidising the cost of building apartments to address the viability gap for the sale to owner-occupiers. The scheme is expected to spend €450m to support the delivery of 5,000 apartments by the end of 2027. Cairn Homes had initially agreed prices for one- and two-bedroom apartments of €245,000 and €365,000 respectively under the scheme. However, the reduction of the VAT rate on apartments in the budget from 13.5% to 9% further reduced the cost. The Irish Times, 3rd November
MSCI/ SCSI Returns index Retail warehousing retained its position as the strongest performing sector of the Irish investment property market in Q3. Retail warehouse capital values rose 1.7% in Q3 bringing their 12-month growth to 5.27%, values which have not been seen since June 2023. The sector’s recovery was partly due to a 0.93% rise in rents during the quarter bringing its annual rental growth to 9.16%. On the back of stable rents, Grafton Street capital values rose 1.33% in the quarter, paring back its annual losses to 0.14%. Investors achieved healthy 2.93% Q3 returns from Grafton St trophy properties and 6.16% over the 12 months. However, the tentative signs of a recovery seen in shopping centres at the start of the year appear to have run out of steam as rents stagnated during the quarter, paring back their annual improvement to 1.8%. But capital values for these centres fell by a sharper 2% during the quarter and 2.9% over the 12 months. In overall terms, office rents have been firming up slightly over the last nine months with a further 0.3% rise in Q3 leading to a 0.8% rise over 12 months thanks to city centre properties. However, in capital value terms offices stagnated during the quarter and have declined 2.4% over the 12 months. Most offices built between 1970 and 2009 saw their values fall by about 1% during the quarter and by between 4% and 8% over the 12 months depending on their age, quality and location. The Irish Independent, 30thNovember
Junction 6, Dublin 15 Manna Air has been refused retention planning permission by Fingal County Council on a site in west Dublin, where it has been operating a drone delivery hub. The permission was sought by the drone company on September 8th. It related to the development of an aerial delivery facility, an existing switch room, perimeter metal fencing, and all associated site works necessary to facilitate the development at the Junction 6 centre in Blanchardstown. However, it was refused by the council on three main grounds, including incompatibility with existing land uses, a lack of detail on the noise impact and the “visually incongruent” nature of the steel fencing. A spokesman for Manna told the Business Post that the company has now removed the two rubber landing mats at the site and will appeal the decision to An Coimisiún Pleanála. He added that in the meantime, it will serve the local community from its other hubs, including one near the Blanchardstown Shopping Centre, which is unaffected by this refusal. The Business Post, 31st October
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