Investment fund provides 90 free luxury south Dublin apartments for HSE

Churchtown apartments will be available for up to three months

Two-bedroom apartments in Fernbank would normally be rented out for far in excess of €2,000 per month. Photograph: iStock

Two-bedroom apartments in Fernbank would normally be rented out for far in excess of €2,000 per month. Photograph: iStock

 

A property fund backed by the Ireland Strategic Investment Fund (Isif) is providing 90 recently built apartments for free to the Health Service Executive to house healthcare workers for up to three months during the Covid-19 crisis.

The fully kitted-out apartments in Churchtown, a leafy suburb to the south of the city, are part of the second phase of the luxury Fernbank development.

Two-bedroom apartments in Fernbank would normally be rented out for far in excess of €2,000 per month. The large scheme is situated close to the landmark Luas bridge in Dundrum, a short walk to the major shopping centre there.

The apartments are being made available for free to the HSE for up to 12 weeks to help ease the accommodation needs of healthcare workers who may be redeployed from elsewhere to the city without anywhere to stay.

Fernbank is owned by the Irish Residential Property Fund, a build-to-rent fund into which Isif has invested €140 million. Irish Life Investment Managers oversees the fund’s operation.

Isif, which is essentially a State wealth fund controlled by the National Treasury Management Agency, made no comment on its agreement with the HSE.