Ardstone, the Irish investment and development company, is making swift progress in its aim to become one of the largest landlords in the state.
Since launching a social and affordable housing fund in January, the company has secured investments totalling more than €500 million. Its aim is to grow the fund to €1 billion by the end of the year.
This year, the company paid €66 million for two apartment blocks of over 140 apartments (€475k per apartment) at Beech Park an O’Flynn development of houses and apartments beside Cabinteely village in south Dublin. One of the blocks has been leased to Dún Laoghaire Rathdown County Council.
Assuming the second block is also affordable (which it will be as it’s a social fund) it will be one of the largest social and affordable apartment developments in Dublin.
Source The Times UK