Housebuilder Glenveagh Properties has agreed to forward sell 118 housing units to the country's largest private landlord Real Estate Investment Trust (I-RES).

The deal comprises two, three and four bed homes at Taylor Hill in Balbriggan and Semple Woods in Donabate – both in North County Dublin. 

Glenveagh said the Gross Development Value of the deal is €38m with all units scheduled for delivery in 2019. 

The company said that houses and apartments in these locations are stable rental neighbourhoods which are attractive to institutional investors such as I-RES.

Separately, Glenveagh also announced a deal with Whitbread to pre-let a proposed 250-bedroom hotel at Castleforbes in Dublin's Docklands. 

The company said the zoning for the site requires it to be developed as a mixed-use scheme. 

"Securing a strong counterparty like Whitbread with a robust institutionally accepted covenant will add value to the overall project and provide Glenveagh with flexibility in the context of future exit options for Castleforbes," the company said.