Date published: 4 September 2026
A new investment vehicle will support Castlethorn’s residential growth strategy across sites already under its control, planned land acquisitions, and future opportunities in the Greater Dublin Area.
Castlethorn has agreed an investment with Avenue Capital Group to support the next phase of its residential delivery programme in the Greater Dublin Area.
The partnership is described as a €125 million investment, with an initial €100 million capital commitment from Avenue Capital Group through a newly established vehicle. Avenue Capital will hold a minority stake in the Castlethorn-controlled vehicle.
Joe O’Reilly, Chief Executive of Castlethorn, emphasised:
“Castlethorn has always focused on delivery - bringing together land, planning, infrastructure, and construction expertise to create well-designed residential communities. This commitment from Avenue reflects confidence in our track record, our team and the quality of our portfolio, and gives us additional capacity to continue progressing residential schemes in a measured way.”
The capital will support selected residential schemes within Castlethorn’s existing pipeline as well as future land acquisitions, with the combined portfolio expected to have capacity for more than 7,000 homes.
Investment to support homes in Dublin area
The new vehicle is intended to provide additional capital for two principal areas of Castlethorn’s residential pipeline:
- Approximately 4,000 homes on selected sites already within Castlethorn’s control.
- Approximately 3,000 additional homes through planned land acquisitions across the Greater Dublin Area.
Together, these sites and acquisitions are expected to provide capacity for a residential pipeline of more than 7,000 homes.
Padraig Moore, Co-Head of Avenue Europe Funds, commented on the partnership:
“Avenue is pleased to support Castlethorn’s residential delivery programme in Ireland. Castlethorn brings a proven track record, a highly experienced team and a clear focus on delivery, and we look forward to working together as the portfolio progresses.”
The figures describe the potential housing capacity that the investment is intended to support. Delivery remains subject to planning, project phasing and market conditions, meaning the 7,000-plus homes do not represent a fixed or immediate completion programme.
The vehicle will also provide capacity to consider future residential opportunities as Castlethorn progresses its longer-term development pipeline.
Supporting Castlethorn’s residential delivery strategy
Castlethorn delivered 1,150 homes during 2025 and is targeting a doubling of annual residential delivery by 2028. Based on our 2025 figure, we are expecting approximately 2,300 homes annually.
The Avenue Capital investment will support that growth strategy by providing additional capital for existing schemes, contracted acquisitions, and future opportunities.
Operating in the Irish residential property market for more than 35 years, our development model encompasses the full delivery process, including:
- land acquisition;
- planning;
- enabling and supporting infrastructure;
- construction; and
- long-term stewardship of completed communities.
The new investment therefore sits alongside our existing approach to progressing residential projects from land and planning through to construction and completion.
Explore our current developments for information on residential and infrastructure delivery.
