Marlet Property Group is offering Ireland’s largest PRS portfolio in a sale expected to attract offers in excess of €1 bn from institutional investors.
The portfolio comprises six prime multi-family residential sites, totalling over 2,000 Dublin homes. Practical completion for all six developments is planned from July 2021 – starting with St Clare’s delivering over 200 homes in Harold’s Cross – until March 2024 with Claremont, Marlet’s seafront development in Howth.
The other schemes are located in Dundrum (Green Acre Grange and Walled Garden), the Silicon Docks (One Lime Street) and Dublin 8 (Grand Canal Harbour.
With Ireland having the youngest population in Europe and being home to many EMEA Tech and Finance headquarters, the demand for rental accommodations is projected to grow steadily in the coming years.
Marlet’s Castle portfolio will represent 15% of Dublin’s institutional PRS market.
Pat Crean, Marlet’s CEO said: ‘We are excited to be delivering these 2,000 homes as part of our 8,500 residential pipeline. Sustainability has always been at the forefront of our design and construction strategy. For the Castle Portfolio developments, in addition to being exemplary in terms of sustainable construction materials used, we have invested a significant amount of time and effort into planning the long-term operation of our six schemes, with the aim of minimising environmental impacts. This is part of our commitment to be one of Ireland’s leading property developers to achieve a Carbon Neutral target by 2030.’
