Castlethorn and Avenue Capital agree €125 million investment
To support delivery of over 7,000 homes in the Greater Dublin Area
A new Castlethorn portfolio will enable its growth strategy and accelerate residential delivery across controlled sites, acquisitions and future opportunities.
Castlethorn has agreed an initial €100 million capital commitment from Avenue Capital Group through the new vehicle established to support the next phase of Castlethorn’s residential delivery in the Greater Dublin Area.
The fully committed capital will support an element of Castlethorn’s existing and future residential pipeline, with Avenue Capital Group taking a minority stake in the Castlethorn controlled vehicle.
The vehicle will initially support selected residential schemes on sites already within Castlethorn’s control, with capacity for c. 4,000 homes. It will also support land acquisitions with capacity for a further c. 3,000 homes across the Greater Dublin Area. Together, these initiatives are expected to support a residential pipeline of more than 7,000 homes, subject to planning, phasing and market conditions.
The agreement marks an important step in Castlethorn’s long-term growth strategy. The group delivered 1,150 homes in 2025 and is targeting a doubling of annual delivery by 2028, underpinned by this investment from Avenue Capital, reflecting its continued commitment to supporting the delivery of new homes across the Greater Dublin Area.
Castlethorn has been active in the Irish residential market for more than 35 years. The company has built a strong track record in delivering high-quality homes and the infrastructure needed to support sustainable, well-planned communities. Its integrated approach spans land acquisition, planning, infrastructure delivery, construction and long-term stewardship.
The investment reflects institutional confidence in Castlethorn’s delivery capability, portfolio and long-term residential strategy, while providing additional capacity to progress existing schemes, contracted acquisitions and future opportunities in a disciplined manner.
Joe O’Reilly, Chief Executive of Castlethorn said:
‘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.’
Padraig Moore, Co-Head of Avenue Europe Funds, Avenue Capital Group said:
‘We are 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.’
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Michael McDonnell Managing Editor of Irish Construction Industry Magazine & Plan Magazine
