The Urbanist – IPUT Special: Meet Chief Executive Niall Gaffney

Podcast: The Urbanist
Host: Andrew Tuck (Monocle)
Guest: Niall Gaffney, Chief Executive, IPUT
Release Date: October 1, 2025

Overview

This special episode of The Urbanist, hosted by Andrew Tuck, features an in-depth conversation with Niall Gaffney, Chief Executive of IPUT, Dublin’s leading property investment company. The discussion explores IPUT’s pivotal role in shaping Dublin’s urban landscape—balancing design, sustainability, community, and global competitiveness. Gaffney offers insights into how IPUT sees itself not just as a developer of buildings, but as a long-term custodian of neighborhoods, enhancing both occupier experience and the city’s wider appeal.

Key Discussion Points and Insights

1. IPUT’s Scale and Vision

[02:10]

• IPUT’s Market Presence: Manages about 5 million square feet, controlling roughly 10% of Dublin's grade A office market.
• Evolution of Ownership: Historically backed by Irish institutions like Trinity College and Guinness, now 50% overseas shareholders (e.g., Allianz, UBS).
• Dublin as a Gateway: “Dublin’s a gateway city between North America and the rest of the world... a very competitive environment for inward investment.” — Niall Gaffney [02:52]

2. The Role of Custodianship in Urban Development

[03:17 – 05:22]

• Stewards of Neighborhoods: IPUT embraces the responsibility to “leave [a place] better than we found it,” focusing on people-led design and investments that foster both economic and community value.
• Resilience Through Cycles: Even through the pandemic and recovery, IPUT’s people-centered design led to negligible vacancy and premium rents.

3. Trends in Workplaces and Tenant Demands

[05:22 – 07:41]

• People-Led Design: Adaptation to occupier needs stands at the core—for example, developing bespoke amenities such as a premium gym for their tenant Mediolanum.
• International Learning: IPUT draws inspiration from global best practices (e.g., flexible leasing in London, innovations from New York) and applies them in Dublin.
• Quote: “We listen, we respond, we’re outward looking.” — Niall Gaffney [07:09]

4. Integration of Hospitality and Community

[07:41 – 10:33]

• Beyond Office Space: The approach now mimics hospitality, providing not just workspace but amenities and vibrant ground-floor experiences.
• Wilton Park Example: A flagship mixed-use project restoring public parks, integrating art and culture, and curating street-level retail (e.g., artisan bakery) to foster genuine community.
• Balancing Act: “Financial returns and being socially aware are not mutually exclusive... if you create a place that’s really attractive…people keep coming back.” — Niall Gaffney [09:47]

5. Creating Lovable and Emotionally Resonant Places

[10:33 – 13:28]

• Soulful Urbanism: IPUT aspires to places with “lovability,” where emotional connection is part of differentiating themselves in a competitive global market.
• Enabling Connections: Facilitates organic community—the goal for Wilton Park is for it to become a true destination, alive seven days a week.
• Quote: “Don’t force it. The best outcomes tend to come when it happens naturally.” — Niall Gaffney [11:48]

6. Sustainability and Leading the Market

[13:28 – 16:07]

• Setting the Standard: IPUT goes beyond regulatory minimums, e.g., developing the first cross-laminated timber logistics warehouses in Ireland with major Dutch investment.
• Competitive Edge: Early adoption and thought leadership in sustainability attract international investors and tenants.
• Virtuous Investment Circle: Sustainability leads to premium rents and strengthens long-term capital flows.

7. Enduring Value and Building Longevity

[16:07 – 17:17]

• Five-Star Ratings: IPUT has achieved GRESB five-star ratings for five years running, critical for continued international investment.
• Adaptive Reuse: Focus on recycling and retrofitting buildings with “good bones” to ensure long-term viability and sustainability.

8. IPUT’s Future Ambition

[17:01 – 18:05]

• Long-Term Legacy: Gaffney hopes IPUT builds stability and remains catalytic as Dublin grows further as an internationally recognized gateway city.
• Diversity and Stability: “For the first time in many decades, [Dublin is] a sustainable city to invest in... If I can play a role in taking that local gateway city to a wider global audience, that would be an achievement.” — Niall Gaffney [17:51]

9. Personal Fulfillment from Impact

[18:05 – 19:05]

• Job Satisfaction: Gaffney finds deep fulfillment seeing everyday people enjoying spaces—“making a difference to people who are not in my walk of life...just normal people enjoying the city.” — Niall Gaffney [18:41]

Notable Quotes and Memorable Moments

• On People-Led Design:
  “If you’re in real estate today, you’re in hospitality.” — Niall Gaffney [04:34]

• On Emotional Connection:
  “You have to develop some form of connection with [a workplace] or you will move on, you'll go to the next place that you can relate to.” — Niall Gaffney [11:23]

• On Community:
  “For us it's about treating these neighbourhoods like a living canvas.” — Niall Gaffney [09:12]

• On the Reward of Urban Development:
  “You get a kick out of that because it’s making a difference to people who are not in my walk of life...just normal people enjoying the city. And we've played a part in that.” — Niall Gaffney [18:41]

Key Timestamps

• 02:10 — Gaffney describes IPUT’s scale and market positioning
• 03:42 — Philosophy of stewardship and neighborhood enhancement
• 05:46 — People-led design in practice and tenant-driven amenities
• 08:18 — Reviving Wilton Park: community, culture, hospitality
• 11:14 — Emotional connections and place “lovability”
• 14:01 — IPUT’s leadership in sustainability and timber construction
• 16:07 — The importance of adaptive reuse, longevity, and green certifications
• 17:17 — Long-term ambitions and becoming a global benchmark
• 18:34 — Moments of personal satisfaction seeing IPUT’s real-world impact

Tone and Style

The conversation is both insightful and aspirational, blending the language of finance and urban development with a strong human and community-centric ethos. Gaffney speaks candidly about the emotional and practical challenges of modern placemaking, while Andrew Tuck draws out the company’s broader social and environmental responsibilities.

This engaging episode offers a blueprint for how commercial real estate can help redefine urban life—making cities not just economically competitive, but also more livable and beloved by their communities.