DWS has exchanged contracts to acquire a residential development in Dublin, Ireland, for one of its institutional real estate funds. Strategically located in the immediate vicinity of Raheny Dart Station and only around 20 minutes from Dublin city centre, residential development “Station Road” will create 105 modern and affordable units with a total lettable area of around 7,000m² that are attractive for commuters. The developer is planning a mix of affordable 51 one-bed flats and 54 two-bed flats. All units will have balconies, and there will also be a large landscaped courtyard as a communal area. The 55 underground parking spaces are partially electrified and can be fully converted later. The seller is Earlsfort Group. Completion of “Station Road” is planned by the end of 2024.
As the institutionalisation of the European residential market continues, investors can leverage DWS's extensive track record built over 15 years of investing in this sector. With its in-house research, established local presence and market access in key European markets, DWS is able to assist its clients with an understanding of these diverse real estate markets.
Mike Hill, Head of Real Estate Transactions, UK and Ireland, DWS, said: “In April we acquired residential property ‘Royal Albert Wharf’ in east London, now adding Irish residential development ‘Station Road’ to our portfolio, which is a testament of our strong transaction pipeline. Dublin is one of our core markets due to its strong fundamentals, that offer promising growth potential for investors. We remain interested in promising acquisitions in the residential, logistics and office sectors.”
