Ronan Group sells Spencer Place Residential to Ardstone for record €177m deal
The deal is the largest residential investment sale in the country this year.
The development, known as Spencer Place Residential, comprises 360 high-end build-to-rent apartments across two buildings.
The site includes amenities like a concierge, cinema, co-working spaces, a gym, and rooftop lounges with panoramic views.
Designed to foster a vibrant urban community, the area supports over 700 residents and is the culmination of the wider six-acre Spencer Dock campus, which Ronan Group began developing in 2016.
This sale comes amid increasing optimism in Ireland's residential investment sector, buoyed by sustained demand for urban living and recent regulatory shifts.
Ardstone emerged as the successful buyer following a competitive bidding process that reportedly included global investor Hines.
Gavin Wyley, Head of Residential Development at Ronan Group, said the sale reflects 'the strong fundamentals of Ireland's economy and the improving sentiment in the residential investment market.'
The Spencer Place campus also includes Salesforce Tower, which set a benchmark in the market as the largest pre-let office deal in Irish history when secured.
The successful execution of the mixed-use vision at Spencer Dock is viewed as a key milestone in the regeneration of the Docklands, one of Dublin's most strategically important districts.
The development was delivered through Spencer Place Development Company, a joint venture between Ronan Group and U.S.-based Fortress Investment Group.
With this major divestment now complete, Ronan Group is turning its focus to other flagship projects.
These include Waterfront South Central on Dublin's North Wall Quay, which is set to house Citi's new European headquarters.
Also, the residential area managed by the firm's co-living platform, Libra Living, and the Glass Bottle site in Dublin 4, where the group is developing over 3,500 homes and one million square feet of commercial space.
A 20-storey hotel is also in planning for the site.
See More: Docklands, Property, Ronan Group
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