Ardstone has purchased the Spencer Place Residential development in Dublin’s North Docklands from Spencer Place Development Company, which is owned by Ronan Group and Fortress Investment Group, for €177m.
Ronan Group acquired the six-acre mixed-use Spencer Place campus in 2016 and together with the adjoining Samuel Hotel, which was developed by Ronan Group and leased to Dalata, it sold the Salesforce Tower office building to Blackstone in 2022 for more than €500m.
Spencer Place Residential, which represents the final phase of the Spencer Place campus, comprises 360 private units set across two buildings offering build-to-rent apartments and co-living spaces.
The amenity provision includes a 24-hour concierge, gym, cinema, co-working areas and panoramic top-floor lounges. Spencer Place Residential was operated by Ronan Group’s Libra Living platform, which managed the day-to-day operations of the scheme.
Gavin Wyley, head of residential development at 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.”
Aidan Gavin, chief investment officer at Ronan Group, added: “The transaction adds to Ronan Group’s stellar track record of delivering premium residential and commercial developments across the city including the under-construction Waterfront South Central scheme in the North Docks and the Glass Bottle site on the Poolbeg Peninsula.”
