FACTS + FIGURES
Gross Asset Value
€72.5M
Active Projects:
6
Sq.M. Under Management:
23,500
THE ORIGINAL 1.0
REDQUARTZ LIMITED
THE NEXT ITERATION
RQTWO
One of the largest developers in the Celtic Tiger era, led by Paddy Kelly. Funded through a traditional debt:equity structure. The organisation was focused on new property developments, specifically, office, hotel and residential.
Emphasis was on capital creation through value uplift, not asset management and income optimization.
A shortsighted exit strategy, relying on local buyers with overlapping funders and complex partnerships led to exposure to the eventual global and domestic downturn.
By 2007, Redquartz had been involved in the development of:
- 3,000,000+ sq.ft or commercial development
- 5,000+ residential unit
- 6,000+ hotel rooms
- with Gross Asset Value of €3,000,000,000+
A huge amount created, but ultimately, the capital and corporate structures lets to its compromise and eventual collapse.
Following a decade of debt restructuring, RQtwo emerged as the next iteration with a new approach to private equity and real estate in 2019. The purchase of undervalued buildings below replacement cost in overlooked areas with growth potential. Focus was less on development, and more on active asset management.
In contrast to the pioneering approach to neighborhoods Redquartz operated under, often being the first into an emerging area, RQtwo now focused on being in areas already on the rise, leveraging the activity of the area, not just our development.
Most centrally, we have taken lessons from the Celtic Tiger era and use them to ensure the projects are correctly funded, preferably through alternative channels in to ensure investor protection and resilience in potential market downturns.
CORE VALUES
AUDACITY:
FUTURE FOCUSED:
IDEA MERITOCRACY:
Bold ideas. Transparent and outspoken on topics.
Identification, observation and adherence of macro trends and their impact on real estate, cities and culture.
A culture where the best ideas can succeed. Not just the ideas from the more experienced hand.
STRATEGY
1. DUBLIN FOCUSED
CITIES not countries, shape the future.
Dublin, growing to 2.6m people by 2040 will continue to emerge as a key global city, a thriving gateway between USA & Europe and an international hub with 30M+ visitors through Dublin airport annually.
2. FOCUS ON GLOBAL TECH COMPANIES
Ireland is the #1 destination in the world for FDI from US tech companies.
9/10 top global software companies
9/10 top US technology companies
Top 3 enterprise software companies in the world
4/5 top IT services companies
4 of 10 of Forbes most innovative companies in Dublin.
3. DUBLIN SATELLITES EMERGE
The 2015 recovery has been heavily focused within the ever-expanding CBD. This has led to an undervalued suburban office offering, with the potential to attract tenants with compelling value (50-75% discount compared to Prime CBD) whilst still being located in connected and urban environments.
4. ALTERNATIVE FUNDING CHANNELS
We believe we are now in the post-bank era. For many, they are now seen as an undesirable counterparty and cannot have 1st position in assets going forward. Bonds are our preferred method to finance real estate.
5. MARKETING & DESIGN WITH AN EDGE
Influenced by ideas from abroad and entirely different sectors, we are willing to defy convention with design and embrace technology for marketing and presentation of the assets.
