IPUT expands on St Stephen’s Green with new flexible office acquisitions

Irish property fund IPUT Real Estate has purchased two high-profile office buildings on Dublin’s St Stephen’s Green, reinforcing its strategy to dominate the capital’s prime office market. Both properties will be leased under IPUT’s expanding flexible workspace brand, Studio.

The first acquisition, the former offices of Ivor Fitzpatrick & Co at 44–45 St Stephen’s Green, was marketed earlier this year with a €10m guide price. The second, 90–91 St Stephen’s Green—currently home to Standard Life—was previously listed at €18m after a pandemic-era reduction. IPUT did not disclose final purchase prices.

Together, the deals add 43,000 sq ft to IPUT’s portfolio and bring its total St Stephen’s Green holdings to 100,000 sq ft across five buildings. The company now controls 2.15 million sq ft of office space within Dublin’s central business district.

CEO Niall Gaffney said the move reflects a deliberate focus on the “best office locations” and on meeting demand for “highly amenitised workspaces”. Under its Studio brand, IPUT is doubling its flexible office footprint to 108,000 sq ft this year, including 16,000 sq ft dedicated to shared amenities.

Studio differentiates itself from traditional serviced office operators by offering fully fitted, managed offices on flexible leases rather than renting by the desk. Premium rents for such spaces can range from €150 to €200 per sq ft—well above Dublin’s typical long-lease average of €60.

As occupiers seek adaptable, short-term solutions amid shifting workplace priorities, IPUT’s expansion positions it squarely at the intersection of flexibility and premium real estate.

Discover how IPUT’s latest move is reshaping Dublin’s office market in the full article.