Irish Residential Properties REIT (IRES REIT) has announced the execution of contracts with Flynn & O’Flaherty Construction (the vendor) for the acquisition of 146 residential units located in The Phoenix Park Racecourse, Castleknock, Dublin 15. The total purchase price is €60 million ($72 million).
The property is located in the west Dublin suburb of Castleknock and is adjacent to the Phoenix Park, the largest enclosed park of any European capital city. The scheme occupies an attractive position close to Dublin City Centre (6 kilometers/4 miles), with easy access to the M50 motorway. There are excellent public transport links to the City Centre, with Ashtown train station and a high-frequency bus service close by. Castleknock and the Phoenix Park is a much sought after and mature residential location, providing some of Dublin’s finest amenities, including schools, sporting facilities, shopping and employment.
The residential units to be acquired by the comp
