Quantum Immobilien KVG has completed the acquisition of the 'Quayside Quarter' project in Dublin from Greystar for a club of professional pension funds from Berlin. This transaction marks Quantum Immobilien KVG's official market entry into Ireland and is part of a broader European expansion strategy. The property is located within the Dublin Landings district development in Dublin's North Docks.
The 'Quayside Quarter' comprises 268 privately financed residential units spread across eight buildings. The total rental area amounts to approximately 22,000 square metres. The infrastructure also includes an underground car park with 210 car parking spaces and 300 bicycle parking spaces. The entire ensemble was completed in 2021, based on designs by Arrow Architects. All flats are fully furnished and feature loggias or balconies. Tenants have access to an app to book communal facilities and organise events.
The property is centrally located on the north bank of the River Liffey. The immediate neighbourhood includes the Silicon Docks, the Central Bank of Ireland, and the Central Business District. Celia-Isabel Vietmeyer, Board Member at Quantum, stated that Ireland, and Dublin in particular, represented a logical step in their European strategy, which the investors had supported. She added that the city combines strong economic dynamism with structural housing shortages and a young, high-income population. She announced that further investments in Dublin and comparable dynamic metropolitan regions would follow.
Attractive Investment Environment and Further Developments
With a GDP per capita of approximately EUR 115,000, Dublin is considered one of Europe's most economically powerful metropolitan areas. The population has grown by nine per cent since 2020, with the 20 to 35-year-old age group accounting for around 21 per cent. A simultaneous decline in housing completion figures is leading to a structural overhang in demand, which supports rental dynamics in the new-build segment. Net cold rents there have risen by an average of eight per cent per year since 2021.
Martin Berghoff, Managing Director at Quantum, described the 'Quayside Quarter' as a highlight in Dublin's North Docks district. He highlighted the high-quality new-build, the fully equipped flats, and the existing communal areas such as a private gym, a co-working space, and roof gardens. He added that they are already reviewing further properties of this quality. Greystar, who acquired the property in 2019, will continue to provide property management on behalf of Quantum. Claire Solon, Managing Director Ireland at Greystar, emphasised that the collaboration underscores Greystar's ambitions to expand its service offerings in Ireland.
Expansion of European Presence
The acquisition of the 'Quayside Quarter' not only represents entry into the Irish residential market but also the beginning of establishing a local Quantum branch in Dublin. This enables the planned implementation of Quantum's European strategy, which, following acquisitions in Amsterdam, Vienna, and Copenhagen, is now being continued in Dublin. The transaction was carried out as an asset deal. Confidentiality was agreed upon regarding the purchase price.
- —Legal advice for Quantum: Arthur Cox (Ireland)
- —Tax advice for Quantum: PwC
- —Technical advice for Quantum: AECOM
- —Advice for Greystar: A&L Goodbody and JLL
