Biggest private landlord eyeing up Limerick market

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Ires Reit chief executive Margaret Sweeney
Ires Reit chief executive Margaret Sweeney

IRELAND’S biggest private landlord is considering a move into Limerick as investor appetite for apartments continues to grow.

Ires Reit is mainly focused on the private rental market in Dublin, where it owns almost 4,000 units, and in Cork where it owns 50 apartments at Harty’s Quay.

Ires Reit chief executive Margaret Sweeney told the Irish Independent that other cities are now coming into focus, especially as more people are working remotely.

“We see further opportunities to grow in the likes of Cork, Limerick, Galway. That would be part of our strategy,” Ms Sweeney said.

“We are well supported by our shareholders and our banks to fund any new opportunities as we see them,” Ms Sweeney said.

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The expansion plans suggest there is no lack of appetite for further expansion by big institutional landlords, despite controversies over the growing scale of so-called cuckoo funds in the housing market.