Red Cow Moran Hotel owner seeking tenants for high-end apartments in south Dublin

Apartments at the newly developed Rockpoint scheme in the south Dublin suburb of Blackrock, are set to be available to rent from January 2024 through Owen Reilly Property. The high-end development by Red Cow Moran Hotel owner Michael Moran’s Seabren was originally offered for sale in its entirety to institutional investors in February 2023 with a guide price of €59 million.

While it’s understood that Rockpoint’s joint selling agents Cushman & Wakefield and Sherry FitzGerald New Homes received several offers of about €54 million for the 90-unit portfolio, that wasn’t enough for Mr Moran to bite. And who could blame him given the ongoing shortage of supply in Dublin’s residential market? The development is now being advertised for rent under the name of Moran Living.

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Given the scheme’s prime south Dublin location, one would expect rents to be in the region of €2,500 for one-bedroom apartments and €3,000 for two-bedroom apartments. Those looking to secure a spot in Rockpoint have been asked to register their interest by sending an email to rockpoint@owenreilly.ie.

The development, which is due for completion in the coming weeks, is located just off Frascati Road (N31) and within a short walk of both Seapoint and Blackrock Dart stations and Blackrock Village. Aimed towards the upper end of the private rental sector market, it consists of 49 one-bedroom apartments, 38 two-bedroom apartments and three three-bedroom units distributed across two blocks.

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Seabren acquired the 0.5-hectare Rockpoint site from developer Pat Crean’s Marlet Property Group in 2020 for about €7.5 million. At the time of that sale, the former Europa Garage lands had planning permission for a smaller development of 42 apartments and nine houses. Moran’s company went on to secure planning permission for the present scheme from An Bord Pleanála in 2021.