Latest news with #GavinWyley
Irish Post
3 days ago
- Business
- Irish Post
Ronan Group sells Spencer Place Residential to Ardstone for record €177m deal
THE Ronan Group has sold the final residential phase of its Spencer Place development in Dublin's North Docklands to Irish investment manager Ardstone for €177 million. 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
RTÉ News
4 days ago
- Business
- RTÉ News
Ardstone to acquire Spencer Place Residential development for €177m
Ronan Group has announced the sale of Spencer Place Residential, a residential development in Dublin's North Docklands, to Ardstone for €177m. The group said the deal marks the highest value residential investment deal in Ireland this year and underscores renewed investor confidence in the sector. Spencer Place Residential marks the final phase of the Spencer Place campus and includes 360 private units across two buildings, offering build-to-rent apartments and co-living spaces. The development also includes a 24-hour concierge, gym, cinema, co-working areas and top-floor lounges and is designed to support a "vibrant, sustainable lifestyle" for over 700 residents. The development was operated by Ronan Group's Libra Living platform, which managed the day-to-day operations of the scheme. Ronan Group bought the six-acre mixed-use Spencer Place campus in the North Docklands in 2016 and secured the largest pre-let ever achieved in the Irish market, to Salesforce. The Ronan Group-developed Salesforce Tower Dublin is the greenest Salesforce Tower in the world. Fully electric and certified LEED Platinum, it is one of the first NZEB compliant buildings in Ireland to be occupied by a commercial tenant. Together with the adjoining Samuel Hotel, developed by Ronan Group and leased to Dalata, Salesforce Tower was purchased by Blackstone in 2022 for over €500m. Gavin Wyley, Head of Residential Development at Ronan Group, said that Spencer Place Residential is a development that has played a central role in the transformation of Dublin's North Docklands. "The price achieved reflects the strong fundamentals of Ireland's economy and the improving sentiment in the residential investment market. We expect this momentum to continue into 2026, supported by recent government amendments to rental caps and apartment standards coupled with sustained demand for high-quality urban living," he added. The Ronan Group also has other projects in the pipeline. Waterfront South Central, its flagship mixed-use development, is currently under on Dublin's North Wall Quay. It will include the European headquarters of Citi, which is due for completion next year. It is also developing a new urban quarter at the Glass Bottle site in Dublin 4. The site, covering 37 acres on the Poolbeg Peninsula, will comprise over 3,800 new homes alongside more than 1 million square feet of commercial space. 894 apartments are currently under construction and are set to start welcoming their first residents later this year, while planning has been lodged for a 20-storey, 228-key hotel.
Irish Independent
4 days ago
- Business
- Irish Independent
Dublin docklands development sold for €177m
Ronan Group acquired the six-acre mixed-use campus in 2016, and subsequently secured the tenancy of Salesforce, in what was described as the largest pre-let ever achieved in the Irish market. Ardstone is now acquiring the development from Spencer Place Development Company, which is a joint venture between the Ronan Group and Fortress Investment Group. Spencer Place Residential represents the final phase of the campus, with 360 private units in two buildings, that include build-to-rent apartments and co-living spaces. The development features a 24-hour concierge, gym, cinema and top-floor lounges, and was designed to support a community of over 700 residents. The price achieved reflects the strong fundamentals of Ireland's economy Gavin Wyley, head of residential development at the Ronan Group, said: 'Spencer Place Residential is a development that has played a central role in the transformation of Dublin's north docklands. The price achieved reflects the strong fundamentals of Ireland's economy and the improving sentiment in the residential investment market. 'We expect this momentum to continue into 2026, supported by recent government amendments to rental caps and apartment standards coupled with sustained demand for high-quality urban living.'
Irish Examiner
4 days ago
- Business
- Irish Examiner
Spencer Place Residential complex €177m sale largest so far this year
The Spencer Place residential development in Dublin's North Docklands has been sold by the Ronan Group to Ardstone for €177m - the highest value residential investment deal in Ireland this year. Ronan Group acquired the six-acre mixed-use Spencer Place campus in the North Docklands in 2016. Spencer Place Residential comprises 360 private units across two buildings, including build-to-rent apartments and co-living spaces. 'Spencer Place Residential is a development that has played a central role in the transformation of Dublin's North Docklands. The price achieved reflects the strong fundamentals of Ireland's economy and the improving sentiment in the residential investment market,' said Ronan Group head of residential development Gavin Wyley. "We expect this momentum to continue into 2026, supported by recent government amendments to rental caps and apartment standards coupled with sustained demand for high-quality urban living." The Ronan Group's residential and commercial developments underway in Dublin includes the Waterfront South Central scheme in the North Docks. The Waterfront South Central includes the European headquarters of Citi, which is due for completion next year. Other developments in the capital include the Glass Bottle site on the Poolbeg Peninsula. The site, covering 37 acres on the Poolbeg Peninsula, will comprise more than 3,800 new homes alongside more than 1m sq. ft. of commercial space, with 894 apartments under construction and are set to start welcoming their first residents later this year. Planning has been lodged for a 20-storey, 228-key hotel. Ronan Group is also exploring a return to London. The company previously developed the Battersea Power Station project.
