Ardstone Capital acquires Kestrel House, Clanwilliam Place, Dublin 2

Ardstone Capital has acquired Kestrel house, Clanwilliam Place, Dublin 2 for the purposes of redeveloping it. The property enjoys a prominent corner location in Dublin’s CBD, overlooking the Grand Canal, at the junction of Clanwilliam Place and Grand Canal Street. The micro area is well known for its high-tech occupiers, Google, Facebook and others, and is nicknamed “silicon docks”.

The property has planning permission for a 6,000 m² best in class headquarter building with a feature glass façade. Ardstone have appointed Hardwicke to be the development manager for the project.

Ardstone and Hardwicke will start construction in summer 2015 and the building will be ready for occupation in late 2016.

Donal O’Neill of Ardstone, commented that “we are delighted to have secured this site and to be working with Hardwicke, a developer whose reputation and experience are widely respected. is the right time in the Dublin office market cycle to deliver grade A office properties to suit the occupational needs of tenants seeking city centre accommodation.”

Hardwicke chief executive Brian Owens added “we are really pleased to make this acquisition and together with Ardstone and a first class design team bring forward another Hardwicke building to add to those of the past 50 years and in doing so help alleviate the obvious pent up demand for prime office space in Dublin’s CBD district ”.

Ardstone has been very active in since mid-2012 and has now invested over €350m across 20 separate deals in the Irish and UK markets. Its Irish fund, “Ardstone Value Partners, (AVP)”, is an exclusive and bespoke strategy Ardstone has established in partnership with CBRE Global Investment Partners.