Ireland: Investment manager Ardstone has acquired Spencer Place Residential in Dublin’s north docklands from developer Ronan Group and US private equity firm Fortress Investment Group.
The sale was finalised at €177 million (£149 million), marking Ireland’s largest residential investment deal so far in 2025.
The scheme comprises 360 private units across two buildings, including build-to-rent apartments and co-living spaces.
Amenities include a 24-hour concierge, gym, cinema, and co-working facilities. It is operated by Ronan Group’s residential platform Libra Living and holds a BREEAM In-Use ‘Excellent’ rating of 79 per cent, the highest for any residential asset in Ireland or the UK.
Ronan Group acquired the wider six-acre Spencer Place campus in 2016, later developing and selling Salesforce Tower on the site to Blackstone for more than €500 million (£421 million) in 2022.
The group’s current pipeline includes the nearby Waterfront South Central mixed-use scheme—set to house Citi’s European HQ and a residential element—as well as the 37-acre Glass Bottle site in Dublin 4, which will hold 3,800 homes and a million square feet of commercial space.
Ronan Group said the sale price reflected the strength of Ireland’s economy and improving sentiment in the residential investment market.
Highlights:
• Ardstone has acquired Spencer Place Residential in Dublin for £149 million
• The development comprises 360 private units across two buildings
• It has includes build-to-rent apartments and co-living spaces
• Libra Living operates the scheme
