Spencer Place Sale: Ronan, Fortress, Ardstone Deal – €177m
Ardstone Acquires Dublin’s Spencer Place Residential for €177 Million
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Ardstone Capital has finalized the acquisition of Spencer place Residential in Dublin’s Docklands from Spencer Place Development Company, a joint venture between Ronan Group and Fortress Investment Group, for €177 million. This marks the largest residential investment deal in Ireland too date this year, signaling continued strength in the Irish property market.
Landmark Deal in dublin’s Docklands
The deal, first reported in may by The Irish Times, sees Ardstone acquiring the fully developed Spencer Place Residential, the final phase of the larger Spencer Place campus. The development comprises 360 private units across two buildings, offering a range of amenities designed for modern urban living. These include a 24-hour concierge, a state-of-the-art gym, a cinema, co-working areas, and panoramic lounges on the top floors.
Ardstone faced strong competition for the acquisition, with US real estate investor Hines also reportedly vying for the property. The successful completion of the deal underscores the attractiveness of Dublin’s Docklands as a prime investment location.
Ronan Group’s Vision Realized
Ronan Group, founded by prominent irish property developer Johnny Ronan, initiated the conversion of the six-acre Spencer Dock campus in 2016. The completion of Spencer Place Residential represents a significant milestone in this enterprising project.
“Spencer Place Residential is a development that has played a central role in the transformation of Dublin’s North Docklands,” stated Gavin wyley, Head of Residential Development at Ronan group. “The price achieved reflects the strong fundamentals of Ireland’s economy and the improving sentiment in the residential investment market.”
Wyley further expressed optimism about the future, adding, “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.”
Expanding Portfolio and Future Developments
Beyond Spencer Place, Ronan Group is actively engaged in several other large-scale developments across dublin. These include:
Waterfront South Central
Currently under construction on North Wall Quay, Waterfront South Central will be a mixed-use development housing Citi’s European headquarters (scheduled for completion next year) alongside a substantial residential component. this residential element, operated under Ronan Group’s Libra Living platform, will feature co-working spaces, rooftop terraces, padel courts, and extensive wellness facilities.
The Glass Bottle Site
Ronan Group is also transforming the 37-acre Glass Bottle site in Dublin 4 into a new urban quarter. Plans include over 3,800 new homes and 1 million sq ft of commercial space. A planning request has been submitted for a 20-storey hotel as part of this ambitious project.
The Spencer Place deal highlights the ongoing investment and development activity reshaping Dublin’s skyline and solidifying its position as a key European business and residential hub. The success of Ronan Group’s projects, coupled with Ardstone’s strategic acquisition, points to a robust and evolving property market in Ireland.