Goffs Property
Specialists in selling and sourcing stud farms, country homes & agricultural land

Property News

June ezine

Foreign property buyers put down roots as Irish property market continues to improve,

Long-term international investors are buying into the revival of Dublin City….

Two of the biggest property sales in Dublin this year went to U.S.-based Starwood Property Trust and Germany’s Union Investment Real Estate GmbH, long-term investors from out of town. The deals mark a shift for Ireland, where private-equity firms, typically interested in flipping properties for quick returns, dominated in the immediate aftermath of the country’s financial crisis.

Long-term capital is replacing the short-term capital firm and this level of institutional capital coming from overseas “is new for Ireland,”

Starwood Property Trust, the biggest U.S. commercial mortgage real-estate investment trust, paid about €452 million ($508 million) for 12 Dublin office buildings and a multifamily residential property, according to the firm. It was the biggest property deal in Ireland so far this year.

Union Investment, an arm of German lender DZ Bank AG, last month bought two office buildings rented to Facebook Inc. for €230 million.

Starwood bought the Dublin portfolio—its second acquisition in a long-term investment strategy that started with a U.S. shopping mall portfolio last year—from U.S. private-equity firm Lone Star Funds.

In the last boom, the feeling was that essentially, we bought from and sold to ourselves, which distorted true real estate values.

Investment from overseas provides a benchmarking of property value here against other overseas property markets.

Although above activity is confined to Dublin at present, the knock on effect to property interest outside the capital is set to follow.

Ballycotton Stud, Ballycotton, Co. Cork

Ballycotton Stud on c.20 acres comes to the market in immaculate condition and presents a rare opportunity to acquire a beautiful residence on the edge of the stunning seaside village of Ballcotton. Further details are available at www.goffscountry.com  

Stunning Period residence

Moynsha House on c.70 acres has just been placed on the open market with a price tag of €1,650,000. This period residence is presented in immaculate condition and comes equipped with excellent parkland and equestrian facilities. Further details at www.goffscountry.com

Prime Pocket Placement for Goffs at the RDS

Goffs have extended their sponsorship support this year to the Discover Ireland Dublin Horse Show, where we had a prominent presence at the renowned Pocket overlooking the main arena.

The Dublin Horse Show has been associated with many legendary horses and riders over the years and we are immensely proud to be part of such a fantastic equestrian event in Ireland.

Arodstown Stables, Moynalvy, Summerhill, Co. Meath

Goffs Country have just placed Arodstown Stables, Co. Meath on the open market. Set out over c.80 acres of top class lands and considered one of the best training centres within Ireland. The property includes 70 boxes, 2 top class gallops, numerous turn out paddocks, 2 residences and a host of other excellent equestrian facilities. For further details visit www.goffscountry.com   
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