Quantum Immobilien KVG has acquired the ‘Quayside Quarter’ in Dublin from Greystar for a club of professional pension funds from Berlin, thus sealing its market entry into Ireland. The property comprises 268 privately financed residential units in eight buildings with a total lettable area of around 22,000 m² as well as an underground car park with 210 car and 300 bicycle parking spaces. The ensemble was completed in 2021 according to the designs of the renowned Arrow Architects and is located in the Dublin Landings district development in Dublin’s North Docks.
“Ireland, and Dublin in particular, is a logical next step in our European strategy, which our investors have taken together with us. As Europe’s Silicon Valley, the city combines exceptionally strong economic momentum with a structural housing shortage and a young, high-income population. Further investments in Dublin and similarly dynamic metropolitan regions will follow,” says Celia-Isabel Vietmeyer, CEO of Quantum.
268 apartments on the Liffey: Quantum acquires premium property in Dublin
The ‘Quayside Quarter’ is located in the centre of the city, directly on the north bank of the River Liffey and in the immediate vicinity of the Silicon Docks, the Central Bank of Ireland and the Central Business District. All apartments are fully furnished and have loggias or balconies. Tenants have access to an app that can be used to book meeting rooms and workplaces or to plan community events.
“The ‘Quayside Quarter’ is a real highlight in Dublin’s North Docks district. High-quality new construction, fully equipped apartments, common areas such as a private gym, a co-working space and roof gardens. We are already examining other properties of this quality,” says Martin Berghoff, Managing Director at Quantum.
Greystar acquired the property in 2019 and will continue to manage property on behalf of Quantum.
“We are delighted with Quantum’s trust and to continue to manage the neighbourhood at a high level of quality. The collaboration underlines our ambitions to expand our service offering in Ireland and create great places to live,” says Claire Solon, Managing Director Ireland, Greystar.
Dublin’s housing market as an attractive investment environment
With a GDP per capita of around €115,000, Dublin is one of the economically strongest metropolises in Europe. The population has grown by nine percent since 2020, with the proportion of 20 to 35-year-olds at around 21 percent. At the same time, the number of completions in residential construction has recently fallen significantly – a structural excess demand that supports rental dynamics. Net rents exclusive of heating expenses in the new construction segment have risen by an average of eight percent per year since 2021.
Quantum has a local presence in Dublin
The acquisition of the ‘Quayside Quarter’ not only marks the entry into the Irish housing market, but also the beginning of the development of a local Quantum location in Dublin. Quantum is thus implementing its European strategy according to plan: After acquisitions in Amsterdam, Vienna and Copenhagen, Dublin is now the next step.
The transaction took place as part of an asset deal. The parties have agreed not to disclose the purchase price. Quantum was advised by Irish law firm Arthur Cox (legal), PwC (tax) and AECOM (technical). Greystar was advised by A&L Goodbody and JLL.
