Development Securities has announced the acquisition of Donnybrook House in Dublin 4 and the Chalemont Clinic, Dublin 2.

Donnybrook House cost €9m - the 0.9 acre site has already secured planning permission to be refurbished as a development which will include offices, retail spaces, a restaurant, and a gym.

The firm released a statement saying that it plans to begin developing the site in the second quarter of 2015, and that €8m will be invested in the redevelopment. It is expected that the building will be ready to be occupied by 2016.

Chalemont Clinic was bought for €7.1m - the company is considering redeveloping the 0.95 acre site as a hotel, offices, or as residential space.

Development Securities' executive director Matthew Weiner has said these purchases are part of the company's long-term strategy in Dublin.