Irish Residential Properties REIT
| Company type | Public limited company |
|---|---|
| ISIN | IE00BJ34P519 |
| Industry | Real Estate |
| Founded | April 2014 |
| Headquarters | Dublin, Ireland |
Key people | • Eddie Byrne, CEO and board director[1] • Brian Fagan, CFO[1] • Alan Kavanagh, managing director operations[1] • Anna-Marie Curry, company secretary and general counsel[1] • Michael Robinson, head of IT[1] • Pauline Houlihan, HR director[1] • Jeremy O'Sullivan, managing director – capital markets and portfolio management[1] • Glen Murphy, director of finance[1] |
| Revenue | €50.6 million (2018) |
| Website | iresreit.ie |
Irish Residential Properties REIT Plc or IRES is a multi-unit residential letting company and real estate investment trust (REIT) focused on the Dublin property market and those of other Irish urban centres. It is listed on Euronext Dublin and is a constituent member of the ISEQ 20 with a market capitalisation of €873m as of 31 January 2020.[2] It has a secondary listing on the London Stock Exchange.
IRES was floated on the Irish stock exchange in April 2014 and was funded largely by the Canadian listed company Canadian Apartment Properties REIT (CAPREIT). IRES internalised its structure[clarification needed] in January 2022 and is an Irish operating company[3]
The company is Ireland's largest private landlord with over 3,884 units under its ownership as of January 2020.[4][5]
After Hibernia REIT was taken over by Brookfield Asset Management in June 2022, IRES was the final Irish REIT to remain a publicly listed company.[6]
Controversies
[edit]2017
[edit]In July 2017, a number of politicians and political activists including Mick Wallace, Eoin Ó Broin and Clare Daly protested outside the head offices of IRES in Grand Canal Dock, Dublin about increasing rents and the opening of a new development at the Maples in Sandyford.[7]
2025
[edit]In March 2025, the company planned to add a €200 monthly charge as a so-called "common area" fee for new renters at one of its properties. The landlord refused to say if the €2,400 per year charge would be introduced at its other properties, when asked. Tenants questioned whether the charge was an attempt to circumvent rent pressure zone (RPZ) rules. City councillor Janet Horner said the new charge was "incredible" and wondered if the landlord was effectively raising the rent of the homes. She added, "One of the major concerns in the rental market is how little negotiating power tenants have. They are so desperate they will accept these arrangements, but I would wonder are they taking advantage of tenants here."[8]
See also
[edit]References
[edit]
- ^ a b c d e f g h "Senior Leadership Team". Irish Residential Properties (REIT) plc. Retrieved 7 March 2025.
- ^ "IRES - About Us". www.iresreit.ie. 31 January 2020. Retrieved 31 January 2020.
- ^ "IRISH RES. PROP". markets.ft.com. 1 April 2021. Retrieved 31 October 2023.
- ^ "Profit at State's largest landlord halves despite rent increases". www.irishtimes.com. 9 August 2019. Retrieved 31 January 2020.
- ^ "Ires Reit raises €134.2m to help buy 815 apartments". www.irishtimes.com. 13 June 2019. Retrieved 31 January 2020.
- ^ "Public companies on the Private Equity shortlist". Business Plus. 17 December 2022. Retrieved 19 December 2022.
- ^ "Dublin tenants' group protests outside Ires Reit offices". Irish Times. 5 July 2017. Retrieved 11 February 2020.
- ^ Dalton, Eoghan (8 March 2025). "Ireland's biggest private landlord looks to add monthly €200 'common area' fee to apartment block". The Journal.
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