Gresham House Commercial Property Fund
The Gresham House Commercial Property Fund invests in properties in suburban Dublin and major regional centres.
In particular, we focus on office, retail and industrial properties which offer substantial potential rental and value increases, compared to the more fully valued Dublin city market.
- We target office, retail and industrial investment properties in Ireland
- Properties will typically be let on long leases with sound financial covenants
- The fund’s property investments will be in the range of €5 million to €15 million
An introduction
Key documents
- Annual Report 30 September 2025
- Quarterly report – Q2 2026
- Gresham House Investments ICAV Prospectus
- Gresham House Commercial Property Fund Flyer
- Gresham House Ireland Fund Range Brochure
- Supplement Prospectus – Gresham House Commercial Property Fund
- Commercial Property Sustainable Investment Policy
- Intermediary Application
- Entity Investor via Intermediary Application
- Individual Investor via Intermediary Application
- ICAV – Investor via Intermediary Application
- Factsheet – September 2026
The Fund is a qualifying investor fund and the minimum investment in the Fund is €100,000. There is a two-year lock in from the date of investment with liquidity at the discretion of the Investment Manager thereafter. Prospective investors are advised to read the Prospectus which is available from Gresham House Ireland.
Prospective investors can access information about how to invest in our products by contacting below:
How to invest
Ian Naughton
Head of Client Relationship Management
+353 85 881 1758
i.naughton@greshamhouse.ie
Kenny Downes
Client Relationship Manager
+353 85 803 1810
k.downes@greshamhouse.ie
Awards
The Gresham House Commercial Property Fund has been recognised as the best performing Irish Balanced Fund by the MSCI European Property Investment Awards for the last five years.
Fund performance
Past performance is not a guide to future performance. Capital at risk.
Fund return
| Period | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Fund return* | 6.16% | 7.77% | 4.70% | -3.21% | 1.39% | 6.65% | -2.68% | 5.24% | 16.26% | 3.85% |
Close of business mid-market prices
| Close of business mid-market prices | Deal Date | Dealing Price € |
|---|---|---|
| 30/09/2026 | 01/10/2026 | 153.9200 |
| 30/06/2026 | 01/07/2026 | 153.9200 |
| 31/03/2026 | 01/04/2026 | 147.7200 |
| 31/12/2025 | 01/01/2026 | 146.0500 |
| 30/09/2025 | 01/10/2025 | 144.4600 |
| 30/06/2025 | 01/07/2025 | 141.1300 |
| 31/03/2025 | 01/04/2025 | 139.5200 |
| 31/12/2024 | 01/01/2025 | 135.5200 |
| 30/09/2024 | 01/10/2024 | 134.0000 |
| 30/06/2024 | 01/07/2024 | 132.4400 |
| 31/03/2024 | 01/04/2024 | 129.5800 |
| 31/12/2023 | 01/01/2023 | 129.4400 |
| 30/09/2023 | 01/10/2023 | 131.5000 |
| 30/06/2023 | 01/07/2023 | 131.6300 |
| 31/03/2023 | 01/04/2023 | 133.6600 |
| 31/12/2022 | 01/01/2023 | 133.7300 |
| 30/09/2022 | 01/10/2022 | 137.3000 |
| 30/06/2022 | 01/07/2022 | 136.2800 |
| 31/03/2022 | 01/04/2022 | 136.4200 |
| 31/12/2021 | 04/01/2022 | 131.9000 |
| 30/09/2021 | 01/10/2021 | 130.5100 |
| 30/06/2021 | 01/07/2021 | 128.8800 |
| 31/03/2021 | 01/04/2021 | 126.6900 |
| 31/12/2020 | 04/01/2021 | 123.6700 |
| 29/12/2019 | 31/12/2019 | 127.0700 |
| 30/09/2019 | 01/10/2019 | 127.1000 |
| 27/06/2019 | 28/06/2019 | 125.5500 |
| 28/03/2019 | 29/03/2019 | 124.0400 |
| 28/12/2018 | 31/12/2018 | 120.7400 |
| 27/09/2018 | 28/09/2018 | 117.3800 |
| 29/06/2018 | 30/06/2018 | 110.2500 |
| 30/03/2018 | 31/03/2018 | 106.3700 |
| 29/12/2017 | 31/12/2017 | 103.8500 |
| 29/09/2017 | 30/09/2017 | 108.8060 |
| 28/06/2017 | 30/06/2017 | 105.9300 |
| 30/03/2017 | 31/03/2017 | 100.4200 |
Key Risks
- The value of the Fund and the income from it is not guaranteed and may fall as well as rise. As your capital is at risk you may get back less than you originally invested
- Past performance is not a reliable indicator of future performance
- If you invest in any of the Gresham House, Ireland funds you may lose some or all of the money you invest
Team
Steven Fagan
Managing Director, Real Estate, Gresham House Ireland
Steven Fagan
Managing Director, Real Estate, Gresham House Ireland
Steven has 12 years’ experience in the real estate sector and specialises in large scale office management and retail shopping centres.
Before joining Gresham House Ireland Real Estate he worked in CBRE from 2006 to 2015 and was responsible for the office property management team, managing many high profile instructions including Central Park Sandyford.
Steven is a Chartered Surveyor (MRICS) and a has an honours degree in Property Economics & Estate Management from the University of Reading, UK.
Patrick Lawless
Executive Chair, Gresham House Asset Management (Resources) Ireland Limited
Patrick Lawless
Executive Chair, Gresham House Asset Management (Resources) Ireland Limited
Patrick is Executive Chair of Gresham House in Ireland. He is also Chair of the Investment Committee in Gresham House Asset Management Ireland Ltd.
Patrick founded Gresham House Asset Management Ireland Ltd (formerly Appian Asset Management Ltd) in 2002 after completing the management buy-out of Aberdeen Asset Management Ireland Ltd. He has over thirty years’ investment experience in the fund management, stockbroking and private banking businesses. He has held leadership roles in Davy, Aberdeen Asset Management and ABN Amro.
A member of the Chartered Financial Analysts Institute, Patrick previously sat on the Boards of the Irish Association of Investment Managers (IAIM), Irish Forestry Unit Trust (IForUT) and North American Forestry Investment Trust (NAFIT).
Killian Morris
Property Director
Killian Morris
Property Director
Killian joined Gresham House in February 2025, bringing 30 years of real estate experience focussed on commercial and residential development.
Prior to joining, he spent 6 years as Development Director at Invesco Real Estate in London and Dublin. He was responsible for delivering a pipeline of development projects across Ireland, the UK and Europe on behalf of institutional clients. Previously, he spent 14 years at St Modwen Developments Plc managing urban regeneration schemes across the UK. His sector experience covers offices, shopping centres, logistics, residential, student housing and hotels.
Killian holds a BSc degree in Estate Management from the University of Greenwich and is a member of the Royal Institution of Chartered Surveyors.
Team
Gresham House Investments ICAV Board
Michael Moriarty
Chair, Independent Non-Executive Director
Michael Moriarty
Chair, Independent Non-Executive Director
Michael joined the ICAV Board in 2018. He was the former Head of Asset Recovery at NAMA. Prior to that, he was Head of Private Banking at Bank of Ireland.
Elaine Hanly
Independent Non-Executive Director
Elaine Hanly
Independent Non-Executive Director
Elaine joined the ICAV Board in 2022 and has over 30 years financial services experience. She is a Portfolio Non-executive Director with 20+ years board director and Committee Chair experience (Nominations, Remuneration & Ethics) across financial services companies and non-profit boards.
She was a Senior Partner and former Head of Banking & Financial Services at one of Ireland’s largest corporate and financial services firms. She has strong credentials in ESG green / sustainability-linked financings as well as financing in the infrastructure, energy, renewables and healthcare.
Patrick Lawless
Executive Chair, Gresham House Asset Management (Resources) Ireland Limited
Patrick Lawless
Executive Chair, Gresham House Asset Management (Resources) Ireland Limited
Patrick is Executive Chair of Gresham House in Ireland. He is also Chair of the Investment Committee in Gresham House Asset Management Ireland Ltd.
Patrick founded Gresham House Asset Management Ireland Ltd (formerly Appian Asset Management Ltd) in 2002 after completing the management buy-out of Aberdeen Asset Management Ireland Ltd. He has over thirty years’ investment experience in the fund management, stockbroking and private banking businesses. He has held leadership roles in Davy, Aberdeen Asset Management and ABN Amro.
A member of the Chartered Financial Analysts Institute, Patrick previously sat on the Boards of the Irish Association of Investment Managers (IAIM), Irish Forestry Unit Trust (IForUT) and North American Forestry Investment Trust (NAFIT).
Greg Lawless
Independent Non-Executive Director
Greg Lawless
Independent Non-Executive Director
30+ years’ industry experience. Previously CEO of Arena Events Group plc and a former Corporate Finance Director at Davy Stockbrokers. Greg has originated, advised and delivered numerous IPOs, MBOs and personal PE deals. Greg is a Fellow of the institute of Chartered Accountants and worked with both Deloittes and KPMG.
Insights
Key Documents
Shareholder information
View or subscribe to the key shareholder information for this company.
PRIIPs & Prospectus
SFDR Disclosures
Adverse sustainability impacts
Pursuant to Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector (“SFDR”), the Fund is not classified as an Article 8 or Article 9 fund, however, disclosure in accordance with the requirements of Article 6 of SFDR in relation to the integration of sustainability risks, which is applicable to the Fund, is set out in the Prospectus. The Fund does not consider adverse impacts of investment decisions on sustainability factors, as defined under SFDR, as it is not required to do so under Article 4(3).
EU Taxonomy
The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
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