Ronan seeks €250 million for Dublin project with aparthotel potential

Ireland: Developer Ronan Group Real Estate (RGRE) and its funding partners Colony Capital are seeking in excess of €250 million in forward funding for a mixed-use scheme in the Dublin docklands.

According to the Irish Times, a selected number of institutional investors are understood to have been invited to submit offers for the scheme which is located immediately adjacent to Salesforce’s new European headquarters at Spencer Place.

Prospective purchasers are being invited to submit offers on both a “current scheme” comprising 349 apartments and a 100-key aparthotel, and for an “enhanced option” consisting of 471 apartments and 105 co-living units. While planning permission has already been granted in the case of the current scheme, the enhanced offering is currently the subject of a planning application to An Bord Pleanála.

Ronan acquired the site from receivers appointed by NAMA for a reported €43 million in 2016.

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This is all a rather new industry to me but I really enjoyed hearing about the perception of changes, particularly in the short-term rental, “end of alternative” debate. It was also exciting to see people blurring the lines with regards to serviced apartments and aparthotels in Paul Rands’ talk. My favourite part though was listening to the Brexit debate and seeing people put their views on the table.

Will Smith, Plum Guide, 2019

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