Spencer Place Residential complex €177m sale largest so far this year

Ardstone is acquiring Spencer Place Residential from Spencer Place Development Company, which is owned by Ronan Group and Fortress Investment Group

The Spencer Place residential development in Dublin’s North Docklands has been sold by the Ronan Group to Ardstone for €177m - the highest value residential investment deal in Ireland this year. 

The Spencer Place residential development in Dublin’s North Docklands has been sold by the Ronan Group to Ardstone for €177m - the highest value residential investment deal in Ireland this year. 

Ronan Group acquired the six-acre mixed-use Spencer Place campus in the North Docklands in 2016.

Spencer Place Residential comprises 360 private units across two buildings, including build-to-rent apartments and co-living spaces.  “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,” said Ronan Group head of residential development Gavin Wyley. 

"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."

The Ronan Group's residential and commercial developments underway in Dublin includes the Waterfront South Central scheme in the North Docks. The Waterfront South Central includes the European headquarters of Citi, which is due for completion next year. Other developments in the capital include the Glass Bottle site on the Poolbeg Peninsula. The site, covering 37 acres on the Poolbeg Peninsula, will comprise more than 3,800 new homes alongside more than 1m sq. ft. of commercial space, with 894 apartments under construction and are set to start welcoming their first residents later this year. Planning has been lodged for a 20-storey, 228-key hotel.

Ronan Group is also exploring a return to London. The company previously developed the Battersea Power Station project.