How to Buy a Commercial Property in Ireland: A Step-by-Step Guide

TL;DR

Buying commercial property in Ireland in 2026 follows a structured eight-step process: define the brief, source the asset, conduct technical and legal due diligence, structure finance, agree heads of terms, exchange contracts, pay stamp duty and complete. The whole cycle typically runs 12 to 20 weeks for a private treaty deal, faster for off-market acquisitions.

Step 1: define the investment brief

Before sourcing, write down: target sector (office, retail, industrial, mixed-use), target geography (Dublin, Galway, Cork, Limerick or regional), target lot size, target unlevered yield, target leverage, hold period and exit strategy. A clear brief eliminates 80% of unsuitable opportunities before viewings.

Step 2: source the asset

Irish commercial property is sourced four ways: through agency listings on platforms like Daft.ie commercial section; through direct-to-vendor approaches on identified targets; through off-market introductions via advisors who know vendors considering a discreet sale; and through structured processes like tenders, BMR and receiverships. Off-market deals typically transact at a 3 to 7% discount to open market because the seller values certainty and discretion.

Step 3: heads of terms

Once an asset is identified and priced, heads of terms set out the commercial framework before legal drafting begins: price, deposit, conditions precedent (planning, financing, due diligence), exclusivity period, and the basis of the sale (private treaty, tender or auction). Heads of terms are non-binding but anchor the negotiation.

Step 4: technical due diligence

A typical due-diligence pack covers: structural building survey; mechanical and electrical condition report; BER and energy retrofit study; environmental and contaminated-land assessment; planning compliance; fire safety and BCAR compliance; service charge and FRI lease audit; tenant covenant strength; and rent reviewability. Allow 4 to 6 weeks for a full pack on a multi-tenant commercial asset.

Step 5: legal due diligence

Run by the buyer's solicitor: title investigation, lease reviews, planning permissions and conditions, easements and rights of way, Building Control Act compliance, MUD Act compliance for mixed-use, service charge accounts, tenant deposits and arrears. Allow 3 to 4 weeks. Defects identified at this stage are commonly negotiated as price chips or retentions.

Step 6: finance structuring

Irish commercial property finance typically involves senior debt at 55 to 65% LTV from a high-street bank or alternative lender, optional mezzanine at 65 to 75% LTV, and equity for the balance. Senior pricing in 2026 sits in a 5.5% to 7.0% range depending on covenant and asset. Bridging finance from specialist lenders can close in 2 to 4 weeks where speed matters more than rate. HPS Real Estate routinely arranges and structures these stacks.

Step 7: contracts and stamp duty

Irish commercial property attracts stamp duty at the prevailing commercial rate (7.5% as of 2026), payable by the buyer on completion. Contracts are typically exchanged with a 10% deposit and a 4 to 6 week completion window. VAT may apply on commercial transactions depending on the property's VAT history; specialist tax advice is essential.

Step 8: completion and post-completion

On completion: balance funds transferred, keys handed over, lease assignments served on tenants, Property Registration Authority filings made, business rates and service charge accounts transitioned. Post-completion, the asset moves into property management.

Typical timeline

For a clean private-treaty deal: 1 week heads of terms; 4 to 6 weeks due diligence; 2 to 3 weeks finance closing; 2 to 3 weeks contracts; 4 weeks to completion. Total: 13 to 17 weeks. Off-market deals with cash buyers can close in 4 to 6 weeks.

Frequently asked questions

What deposit is required to buy commercial property in Ireland?

10% of the purchase price on exchange of contracts is standard. Senior lenders typically require 35 to 45% equity at the asset level (i.e. 55 to 65% LTV), with the deposit forming part of that equity.

What is the stamp duty rate on commercial property in Ireland 2026?

The commercial stamp duty rate in Ireland is 7.5%, payable by the buyer on completion. Share-purchase structures attract different treatment and require specialist tax advice.

Are there foreign-buyer restrictions on Irish commercial property?

No. There are no nationality-based restrictions on foreign individuals or entities acquiring Irish commercial property. Some specific use classes (e.g. agricultural land beyond certain thresholds) have separate rules; commercial property generally has none.

How long does a commercial property purchase take in Ireland?

A clean private-treaty deal typically takes 13 to 17 weeks from heads of terms to completion. Off-market deals with prepared cash buyers can close in 4 to 6 weeks. Receivership and tender processes have their own timetables.

What is the most common pitfall for commercial buyers in Ireland?

Underestimating the cost and timeline of bringing a non-BER-compliant building up to standard. Energy retrofit costs are often the single largest hidden line item in a value-add Irish commercial acquisition.

HPS Real Estate is an Irish commercial property advisory and asset management firm based in Dublin and Galway. We act on commercial acquisitions for institutional investors, family offices, REITs and corporate occupiers. Contact info@hpsproperty.ie.