Friday, 17 April 2026
Manova Partners and Mapfre have acquired the One Haddington Buildings office property in Dublin for their joint vehicle, the Stable Income European Real Estate Fund 2 (SIEREF 2).
The four-storey building, located on Haddington Road in the city’s central business district, provides approximately 3,800 sqm of office space along with 23 parking spaces. Originally completed in 1995, the property was refurbished in 2022 and holds a BER A3 rating as well as Nearly Zero Energy Building (NZEB) status.
The asset is fully leased to four tenants on long-term agreements across a mix of sectors, offering what the investors describe as stable income characteristics. Its location benefits from access to public transport, including tram, rail and bus connections, and is within walking distance of a range of amenities.
Christian Göbel, Co-CEO at Manova Partners, said: “With One Haddington Buildings, we are acquiring a future-proofed and ESG-compliant office property in one of Dublin’s most established office locations. The property impresses with its high-quality tenancy and attractive yield. With this acquisition we continue our current anticyclical investment strategy to expand our office portfolio in prime locations.”
Laetitia Treves, Head of Transactions Europe at Manova Partners, added: “We believe now is an opportune moment in the cycle to invest in the Dublin office market, which has significantly re-priced with growing momentum in the leasing market. One Haddington Buildings is a quality Grade A office in a vibrant location in Dublin providing attractive yield profile compared to other European cities.”
Carlos Díaz Gridilla, Managing Director at Mapfre Inmuebles, said: “An acquisition like One Haddington Buildings fits perfectly into Mapfre’s real estate strategy, which prioritizes investment in high-quality office buildings in prime locations that can provide a stable source of income over the long term. Our investment strategy in alternative assets has proven successful in recent years, and we will continue to explore this avenue in partnership with our top-tier partners.”
The transaction marks the fourth acquisition for SIEREF 2, a fund targeting core office assets across Europe on behalf of Spanish institutional capital. The strategy follows an earlier vehicle launched in 2018 and focuses on markets outside Spain.
With this acquisition, Dublin becomes the third city represented in the current portfolio after Berlin and London. The fund managers indicated that remaining capital will be deployed over the next 12 to 18 months to further diversify both geographic exposure and lease maturity profiles.
