Zara owner snatches up Dublin luxury apartment building for €100m

The founder of Spanish clothing multinational Inditex has purchased a luxury apartment building in Dublin for €100 mln.

The acquisition was conducted by Amancio Ortega’s family real estate office Pontegadea Inversiones and is the first investment in Ireland.

Located at 6 Hannover Quay, in Dublin’s South Docklands area, the Opus building offers 120 one, two and three bedroom apartments for rent.

Situated on the waterfront the development is prominently positioned within Grand Canal and all the amenities the area has to offer, including an on-site luxury restaurant, a coffee shop and a resident-exclusive gym.

The property also features two roof terraces, business pods, laundry and dry-cleaning services, package and parcel collection, luxury shared cars, secure underground car parking space and bicycle storage, as well as 24-hour concierge.

Cairn Homes was the developer of the Opus building and sold it in 2019 to US investor Angelo Gordon and local partner Carysfort Capital for a price similar to what Pontegadea has now paid.

Opus is Pontegadea’s third investment in luxury flats but the first outside the US, as the family office seeks to diversify from high-end commercial real estate and offices and expand its geographical reach.

The Inditex fashion group owns the Zara, Bershka, and Massimo Dutti clothing brands.


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