New JV to deliver Dublin’s 10 Newmarket Square BTR

A new strategic partnership will see the delivery of 10 Newmarket Square, a Build to Rent scheme in Dublin.

Render of the 10 Newmarket Square Build to Rent scheme in Dublin | BTR News
Render of the 10 Newmarket Square Build to Rent scheme in Dublin.

London-based private equity real estate investment firm – Valpre Capital, Irish based real estate investment and development business – Revelate Capital – and Aventicum Real Estate, a pan-European value-add real estate platform owned by UBS have formed a strategic partnership for the development of 10 Newmarket Square, a new, contemporary Build to Rent scheme in the heart of Dublin’s city centre. The deal was supported by Charles Irvine Capital as capital raising advisor.

“We are delighted to have concluded this partnership with Valpre Capital and Revelate Capital which marks our first investment in the Irish market. We believe Dublin and other larger cities in Ireland will continue to offer attractive investment opportunities in the living sector in the coming years as demand fundamentals are sound and construction activity is suppressed.”

Jan Dijkstra, Senior Director, Aventicum Real Estate

10 Newmarket Square will deliver 132 high-quality Build to Rent apartments. Amenities include a co-working lounge, three communal rooftop gardens, a landscaped courtyard and public amenities. Residents will also benefit from 301 designated bicycle parking spaces and a retail unit.

The new Build to Rent development occupies a prominent location in the vibrant and lively Newmarket square in the Liberties area in Dublin 8. Designed by award-winning Reddy Architecture + Urbanism, 10 Newmarket Square will be constructed by one of Ireland’s leading building contractors – Walls Construction. Completion of the scheme is anticipated by Q3 2025.

“We are glad to have Aventicum onboard in this project which will enable the delivery of 132 much needed high quality apartment units in Dublin. Our experience in the residential sector in Ireland over the past five years reinforces our belief in the urgency of regulatory changes to the current format of rental caps to enable the delivery of additional housing units.”

Ahmad M. Hariri, Founder & Managing Partner, Valpre Capital

With a passive-first philosophy, the 10 Newmarket Square project is targeting the latest Nearly Zero Energy Building (NZEB) standards, with low u-values and a low-energy design. This commitment underlines the joint venture’s dedication to making a positive impact on the environment and local community.

The project targets the latest Nearly Zero Energy Building (NZEB) standards with a passive-first philosophy, with low u-values and a low-energy design. This commitment underlines the joint venture’s dedication to making a positive impact on the environment and the local community.

Construction financing for the 10 Newmarket Square Build to Rent development is being provided by Fairfield Real Estate Finance, backed by funds managed by Oaktree Capital.

“We are happy to see the construction works starting on site at 10 Newmarket Square, which will be our second project in the Newmarket area of Dublin 8. We have led the acquisition, design and planning process and are looking forward to now delivering the building.”

Mark O’Brien, Founder & CEO, Revelate Capital