Irish property market news and insights – for the industry, by the industry
Before we get stuck into the general property news of the week, below are the local and international stories that might be of particular interest:
- Revealed: new Cabinet and Taoiseach’s Seanad nominees https://www.rte.ie/news/2020/0627/1150063-new-cabinet-latest/
- A referendum on housing is not going to solve the supply crisis:
A proposed amendment to the Constitution is not a practical solution and could have unintended consequences https://www.businesspost.ie/columnists/elaine-byrne-a-referendum-on-housing-is-not-going-to-solve-the-supply-crisis-c3de45ad
- Upcoming Board vacancy – Appointment to the Board of An Bord Pleanála | Department of Housing, Planning and Local Government https://www.housing.gov.ie/corporate/recruitment/appointment-board-bord-pleanala
- Programme for government wrong to put faith in private builders – Hope again placed in sector that only builds housing with highest returns https://www.irishtimes.com/opinion/programme-for-government-wrong-to-put-faith-in-private-builders-1.4286542?mode=amp
- Aontú submits bill to ban AirBnBs and short-term lets in towns with populations above 10,000 https://amp.irishexaminer.com/breakingnews/ireland/aontu-submits-bill-to-ban-airbnbs-and-short-term-lets-in-towns-with-populations-above-10000-1006930.html
- Dublin City Council brings action against receiver as alleged ‘firetrap’ properties still occupied https://amp.irishexaminer.com/breakingnews/ireland/dublin-city-council-brings-action-against-receiver-as-alleged-firetrap-properties-still-occupied-1006721.html
- Doctors and builders targeted as Revenue dragnet collects €500m – €41m extra tax came from construction sector as Revenue Commissioners’ investigations focused on areas where tax avoidance is more likely https://www.businesspost.ie/ireland/doctors-and-builders-targeted-as-revenue-dragnet-collects-500m-1314080e
- Planning approval has been given for a new depot at Galway Harbour to connect underwater internet infrastructure to the mainland.
Deepsea Fibre Networks intends to build a terminal with two telecommunications cabins and one support cabin at the Docks to monitor underwater internet cables connecting European countries along the Atlantic Coast with the US. https://www.galwaydaily.com/news/terminal-for-deep-sea-internet-cables-at-galway-harbour-approved/
- As Covid-19 Travel Restrictions Continue, Some Worry About a Large Surplus of Student Accommodation
https://www.dublininquirer.com/2020/06/24/as-covid-19-travel-restrictions-continue-some-worry-about-a-large-surplus-of-student-accommodation
- ESS Modular buys UK school-building firm Spatial Initiative https://www.thetimes.co.uk/edition/ireland/ess-modular-buys-uk-school-building-firm-spatial-initiative-2fw8jptqp
- Nick Webb, writing in The Sunday Times today: Gervaise Slowey, the former Ogilvy executive who ran Denis O’Brien’s Communicorp radio business for four years, has rocked up at Wells Fargo International as a board member of the bank’s Irish operations. Slowey is also on the board of Jane Howard’s Ulster Bank. Wells Fargo was hammered by the Central Bank of Ireland last year when it was fined almost €6m for some rather serious “regulatory reporting breaches and related governance failings”. It was the second biggest fine ever handed out by the regulator, trailing the bumper €21m fine imposed on the Permo for diddling customers with tracker mortgages: https://www.thetimes.co.uk/article/inside-track-slowly-does-it-in-wells-fargo-role-tctv7bx07
- All I want is you to build homes, Bono tells Paschal Donohoe – Singer and developers held online meeting demanding creation of housing taskforce https://www.thetimes.co.uk/edition/ireland/all-i-want-is-you-to-build-homes-bono-tells-paschal-donohoe-sbq26cjgg
- Cork farmer wins battle to remove lands from vacant site register | Business Post https://www.businesspost.ie/legal/cork-farmer-wins-battle-to-remove-lands-from-vacant-site-register-655f2060
- Ambitious plans unveiled for high-speed train connecting Dublin and Paris: The ambitious plan was put forward by The Vienna Institute for International Economic Studies and consists of four main high-speed railway lines across the continent https://www.dublinlive.ie/news/dublin-news/ambitious-plans-unveiled-high-speed-18501091
If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/
As always, you might let me know if I have missed out on any relevant property news by emailing carol@propertydistrict.ie.
(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)
SUNDAY LISTEN
Property Matters: Ireland’s First Weekly Property Radio Show (& Podcast!):
Ireland’s first weekly property radio show, Property Matters, launched In January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com). The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech.
Produced by Katie Tallon of Hear Me Roar Media.
On Property Matters this week:
- Dónal Byrne, Director of Big Red Barn discusses the growth in demand for modular homes.
- Kate Fitzmaurice, Co-Owner, of The VIEW office space in Malahide, shares details of the new offering for SMEs and remote workers in North Dublin.
- Karol Friel, National Sales Manager with Topcon Positioning Ireland, details the uptake in construction technology since the start of the pandemic as contractors seek to regain lost momentum on sites.
Produced by Katie Tallon, Hear Me Roar Media
Listen back: https://ipropertyradio.com/property-matters-23rd-june-2020-big-red-barn-the-view-topcon-positioning-ireland/
Email the Property Matters team at hello@iPropertyRadio.com
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- New report published which examines how to encourage more people to live in rural town and village centres.
It sets out the key issues identified in repurposing vacant properties for modern living, and the key findings which emerged: https://bit.ly/3fS0fs8
- Why don’t people live in rural town centres? Six towns were given €100k to see why – here’s what they said
A pilot initiative from the government gave six rural towns €100,000 to develop proposals aimed at rejuvenating town centres. https://www.thejournal.ie/rural-town-centres-5131123-Jun2020/
- Tóibín welcomes further progress on Boyne Greenway expansion to Navan – LMFM https://www.lmfm.ie/news/lmfm-news/toibin-welcomes-further-progress-on-boyne-greenway-expansion-to-navan/
- Permission for 200-bed co-living development in Castleknock quashed
High Court decision on Bartra project hailed as ‘extraordinary victory’ for local residents https://www.irishtimes.com/news/social-affairs/permission-for-200-bed-co-living-development-in-castleknock-quashed-1.4289712?mode=amp
- Two Galway towns will benefit from funding announced today under the Rural Regeneration and Development Fund, which will see €13 million allocated to 24 projects across Ireland.
Clifden Town Centre and Portumna Vision 2030 will receive funding of €792,000 and €1.2 million respectively under the development fund, accounting for 75% of the cost of each project. https://www.galwaydaily.com/news/two-galway-towns-included-in-funding-announcement-for-rural-ireland/
- City Council submits funding application for second promenade in the city – at Ballyloughane Beach https://connachttribune.ie/city-council-submits-funding-application-for-second-promenade-in-the-city-at-ballyloughane-beach/amp/
- Public consultation commences on how Cork should develop over next decade https://www.irishexaminer.com/breakingnews/ireland/public-consultation-commences-on-how-cork-should-develop-over-next-decade-1007712.html
- ‘We are not Dublin,’ concerns expressed over density of developments in Tipperary – Tipperary Live https://www.tipperarylive.ie/news/home/553746/we-are-not-dublin-concerns-expressed-over-density-of-developments-in-tipperary.html
- ‘Culture mayors’ proposed to boost nightlife in Dublin and Cork – Josepha Madigan says Dublin nightlife rates ‘very poorly’ compared to European rivals https://www.irishtimes.com/news/ireland/irish-news/culture-mayors-proposed-to-boost-nightlife-in-dublin-and-cork-1.4284916?mode=amp
- Limerick Council chief Pat Daly ‘Putting Limerick up in lights’
https://www.limerickleader.ie/news/home/553025/limerickcouncil-chief-pat-daly-putting-limerick-up-in-lights.html
- Green Skibbereen working towards making West Cork more sustainable https://www.southernstar.ie/news/green-skibbereen-working-towards-making-west-cork-more-sustainable-4206717
- There is mounting concern about the rapid rate of houses/apartments construction in County Kildare – Call for schools, roads and amenities to keep pace
https://www.kildarenow.com/news/kildarenow/552402/there-is-mounting-concern-about-the-rapid-rate-of-houses-apartments-construction-in-county-kildare.html
- Residents set to object to quarry plan near Naas – Company defends its record https://www.kildarenow.com/news/kildarenow/552610/residents-set-to-object-to-quarry-plan-near-naas.html
- Calls for State to buy and refurbish Sean O’Casey house after Dublin City Council shelve purchase plans
The property was planned to be used as accommodation for the homeless https://www.dublinlive.ie/news/dublin-news/calls-state-buy-refurbish-sean-18475199
- CELBRIDGE RESIDENTS PROTEST AT PLANS TO BUILD ‘TOWER BLOCK’ APARTMENTS https://kildare-nationalist.ie/2020/06/23/__trashed-4/#.XvL_GPdw2Ec
- Dursey Island cable car hits ecological roadblock https://www.breakingnews.ie/ireland/dursey-island-cable-car-hits-ecological-roadblock-1007398.html
- Ashbourne residents in stand-off with contractor – LMFM https://www.lmfm.ie/news/lmfm-news/ashbourne-residents-in-stand-off-with-contractor/
*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details*
CONSTRUCTION & DEVELOPMENT NEWS
- Construction jobs doubled in six years before pandemic- CSO https://amp.independent.ie/business/irish/construction-jobs-doubled-in-six-years-before-pandemic-cso-39317132.html
- Victory for Dublin 15 residents as High Court overturns decision to grant permission for controversial co-living block at Brady’s Pub:
The planning board had gone against its own inspector’s advice when it granted permission for the 210 bed, 2 car park space ‘planning disaster’ in Castleknock https://www.dublinlive.ie/news/property/bradys-pub-an-bord-pleanala-18478931
- Construction Sector Group – Building Innovation Report https://www.gov.ie/en/publication/827c7-construction-sector-group-building-innovation/
- Developer says Skibbereen convent will not become direct provision centre
The owner of the controversial Skellig Star hotel in Cahersiveen vows his redevelopment project in the Co Cork town will consist of office space, apartments and houses https://www.businesspost.ie/companies/developer-says-skibbereen-convent-will-not-become-direct-provision-centre-f43b5a1c
- Gallaher’s €110 million plans approved for 502 apartments
http://www.echo.ie/news/article/gallaher-s-110-million-plans-approved-for-502-apartments
- Development charges in Cork to be halved to motivate construction industry https://amp.irishexaminer.com/breakingnews/ireland/development-charges-in-cork-to-be-halved-to-motivate-construction-industry-1007499.html
- High Court ruling may have serious implications for thousands of workers, Ictu warns – Trade unions respond to judgment striking down law on minimum pay for electricians https://www.irishtimes.com/business/work/high-court-ruling-may-have-serious-implications-for-thousands-of-workers-ictu-warns-1.4286773?mode=amp
- A proposed new housing development near the Phoenix Park in Dublin poses a threat to the security of president Michael D Higgins, the gardaí and Office of Public Works have warned.
Planning files show the OPW has raised an objection to plans to build 33 houses and 31 apartments on a 0.35 site at Blackhorse Avenue, which is adjacent to the Cabra Gate entrance to the Phoenix Park. https://www.thetimes.co.uk/article/risk-to-president-michael-d-higgins-from-proposed-homes-ddnf5362l
- Councillors unhappy about housing on RTÉ site https://www.thetimes.co.uk/edition/ireland/councillors-unhappy-about-housing-on-rte-site-wc23t028q
- ‘Mismatch’ in commercial and residential unit supply https://www-rte-ie.cdn.ampproject.org/c/s/www.rte.ie/amp/1149352/
- Work to level 50-year-old Ballymun shopping centre starts: Shops and apartments to be built on site which is designated as a future metro station https://www.irishtimes.com/news/consumer/work-to-level-50-year-old-ballymun-shopping-centre-starts-1.4284935?mode=amp
- Permission Granted For Development Of New 273-Bedroom Dublin Hotel | Hospitality Ireland https://www.hospitalityireland.com/hotel/permission-granted-development-new-273-bedroom-dublin-hotel-101543
- Plans For New Hotel In The Liberties Is Rejected https://www.fm104.ie/news/fm104-news/plans-for-new-hotel-in-the-liberties-is-rejected/
- 123 apartments planned for Ballincollig https://www.echolive.ie/corknews/123-apartments-planned-for-Ballincollig-1beb8f88-d2c1-4d64-9bc1-b83a9e53c1d1-ds
- ‘Shock and disappointment’: An Bord Pleanála grants permission for controversial development in Cork against wishes of councillors https://www.echolive.ie/corknews/Shock-and-disapointment-An-Bord-Pleanala-grants-permission-for-controversial-development-in-Cork-against-wishes-of-councillors–ec948405-953b-4292-9420-fc8726615178-ds
- Major apartment scheme in Cork city to accommodate 280 students https://www.irishexaminer.com/breakingnews/ireland/major-apartment-scheme-in-cork-city-to-accommodate-280-students-1007710.html
- Good news for Portumna as Waterways Ireland development gets approval https://www.galwaydaily.com/news/new-waterways-ireland-development-in-portumna-approved/
- Major step forward for new 50 bed A&E at Portiuncula Hospital https://www.galwaydaily.com/news/major-step-forward-for-new-50-bed-ae-at-portiuncula-hospital/
- BREAKING: €3.7m investment and 40 jobs to be created in Manorhamilton https://www.leitrimobserver.ie/news/home/552356/breaking-3-7m-investment-and-40-jobs-to-be-created-in-manorhamilton.html
- Councillors query 215% rise in the cost of Ballinhassig’s main water pipe https://www.irishexaminer.com/breakingnews/ireland/councillors-query-215-rise-in-the-cost-of-ballinhassigs-main-water-pipe-1006674.html
- Decision due within a week on MacCurtain Street hotel plan at Coliseum site https://amp.irishexaminer.com/breakingnews/property/decision-due-within-a-week-on-maccurtain-street-hotel-plan-at-coliseum-site-1007262.html
- Kildare land with full planning for 49 houses seeks €1.8m – Prosperous site has access to all services and five-year permission granted in May 2020 https://www.irishtimes.com/business/commercial-property/kildare-land-with-full-planning-for-49-houses-seeks-1-8m-1.4286254?mode=amp
- Kildare County Council gets application for 3 storey apartment block in Naas
Including all associated site works
https://www.kildarenow.com/news/home/553468/kildare-county-council-gets-application-for-3-storey-apartment-block-in-naas.html
- ‘Ready to go’ residential site in Drogheda guiding €5.75m – Termonfeckin Road lands for sale with full planning permission for 217 new homes https://www.irishtimes.com/business/commercial-property/ready-to-go-residential-site-in-drogheda-guiding-5-75m-1.4285352?mode=amp
- Sicon Limited, the parent company of John Sisk & Son, Ireland’s premier construction company, has announced the appointment of Dr Rosheen McGuckian as Non-Executive Director with effect from 1 July 2020. https://www.irishbuildingmagazine.ie/2020/06/23/sicon-director-appointment/
- Construction partner appointed at MH&C
David Gunn has been appointed partner with the Mason Hayes and Curran construction, infrastructure and utilities team. https://www.lawsociety.ie/gazette/top-stories/construction-partner-appointed-at-mhc/
- RIAI shortlists 33 architectural projects for People’s Choice Awards – The public have until this Friday to vote on entries including a health spa, an interpretation centre and a community initiative to help alleviate social deprivation https://www.businesspost.ie/design/riai-shortlists-33-architectural-projects-for-peoples-choice-awards-b432b49e
PROPTECH, MMC & CONSTRUCTION INNOVATION
- Proptech Ireland is updating the database of 2020 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech or MMC business sit? Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *PROPTECH INNOVATORS and STARTUPS *
- Standard Access Develops AI-Enabled Crowd Capacity Software http://www.constructionnetworkireland.com/standard-access-develops-ai-enabled-crowd-capacity-software/
- U2 members back new tech fund as it raises €20m in first round
Impact Ireland to invest in firms that ‘generate a return for society as well as investors’ https://www.irishtimes.com/business/technology/u2-members-back-new-tech-fund-as-it-raises-20m-in-first-round-1.4288552?mode=amp
- With empty properties becoming increasingly difficult to sell, virtual furniture is on the rise https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/life/home-garden/homes/with-empty-properties-becoming-increasingly-difficult-to-sell-virtual-furniture-is-on-the-rise-39315998.html
- New Industry Trends For Proptech Will Define Its Future https://www.forbes.com/sites/forbestechcouncil/2020/06/26/new-industry-trends-for-proptech-will-define-its-future/amp/
- How it feels to steer a proptech start-up through a crisis • PrimeResi https://primeresi.com/how-it-feels-to-steer-a-proptech-start-up-through-a-crisis/
- Technology-based safety features for Cat excavators https://www.agg-net.com/news/technology-based-safety-features-for-cat-excavators
- Atmos wants to make building a house a one-click effort https://techcrunch.com/2020/06/25/atmos-wants-to-make-building-a-house-a-one-click-effort/?guccounter=1
- Does proptech give you a competitive advantage? | EurobuildCEE https://eurobuildcee.com/en/video/298-does-proptech-give-you-a-competitive-advantage
- PlaceTech | Funding summit for future of real estate https://placetech.net/news/funding-summit-for-future-of-real-estate/
- Construction workers are to be issued with wearable mood monitors to gauge how they are feeling as sites continue to ramp-up production post-lockdown.
https://www.constructionenquirer.com/2020/06/22/workers-get-wearable-mood-monitors-as-they-return-to-site/
- The importance of 5G, AI and embracing new technologies in a post-Covid world https://www.siliconrepublic.com/machines/5g-ai-huawei-ireland
- CushWake, Matterport Partner on Virtual CRE Tech Strategy https://www.connect.media/cushwake-matterport-partner-on-virtual-cre-tech-strategy/
- Covid-19 speeds-up construction’s digital revolution https://www.constructionenquirer.com/2020/06/22/covid-19-speeds-up-constructions-digital-revolution/
- How to Create and Manage Façade Panels with BIM Elements: Tutorials and Inspiration https://www.archdaily.com/941320/how-to-create-and-manage-facade-panels-with-bim-elements-tutorials-and-inspiration
- Technology predicted to play vital role in future of commercial property https://www.p2pfinancenews.co.uk/2020/06/26/technology-will-play-a-vital-role-in-future-of-commercial-property/
RESIDENTIAL PROPERTY NEWS
- Rents ‘likely to fall 5% while home prices steady’ after Covid-19 lockdown https://amp-irishexaminer-com.cdn.ampproject.org/c/s/amp.irishexaminer.com/breakingnews/business/rents-likely-to-fall-5-while-home-prices-steady-after-covid-19-lockdown-1007685.html
- Varadkar calls for inheritance tax to be abolished for average priced homes https://amp.independent.ie/irish-news/politics/varadkar-calls-for-inheritance-tax-to-be-abolished-for-average-priced-homes-39303464.html
- Interest relief ‘unfair’ on frozen mortgages, says new PTSB boss Eamonn Crowley https://www.thetimes.co.uk/article/interest-relief-unfair-on-frozen-mortgages-says-new-ptsb-boss-eamonn-crowley-qzc3w7bwr
- Is equity release for you?
New Central Bank of Ireland rules have opened the market to equity release schemes. Grainne Rothery examines the pros and cons https://www.thetimes.co.uk/article/is-equity-release-for-you-08smd26pk
- ‘Big deal’: Residential, agri and sporting portfolio with lough frontage on 517ac…for sale https://www.agriland.ie/farming-news/big-deal-residential-agri-and-sporting-portfolio-with-lough-frontage-on-517ac-for-sale/
- What is the going rate for a home in…Co Limerick?
There are homes to suit a range of buyers and budgets in Limerick city and county https://www.irishtimes.com/life-and-style/homes-and-property/what-is-the-going-rate-for-a-home-in-co-limerick-1.4283421
- Residents frustrated with persistent issues in homes http://www.echo.ie/tallaght/article/residents-frustrated-with-persistent-issues-in-homes
- President Michael D Higgins cashes in Galway house for €100,000 tax-free profit https://www.thetimes.co.uk/edition/ireland/president-michael-d-higgins-cashes-in-galway-house-for-100-000-tax-free-profit-xjdcf72zp
- 3 renovation projects to buy in Ireland for less than €65,000 https://www.image.ie/amp/interiors/3-big-renovation-projects-to-buy-in-ireland-for-less-than-e65000-205427
COMMERCIAL PROPERTY NEWS
- Irish commercial property deals slump most in EU amid Covid-19
Value of Irish commercial property deals slumped 79% during height of restrictions https://www.irishtimes.com/business/commercial-property/irish-commercial-property-deals-slump-most-in-eu-amid-covid-19-1.4286605?mode=amp
- Ronan ‘hopeful’ Bewley’s will reopen on Grafton Street https://www.irishtimes.com/business/commercial-property/ronan-hopeful-bewley-s-will-reopen-on-grafton-street-1.4286656?mode=amp
- Competitive €55 per sq ft sought for offices at Silicon Docks – Jones Investments to deliver 28,000sq ft office at the Bottleworks on Barrow Street https://www.irishtimes.com/business/commercial-property/competitive-55-per-sq-ft-sought-for-offices-at-silicon-docks-1.4286258?mode=amp
- ‘Pandemic-proofed’ D2 office investment seeking €1.95m – Ground floor office suite at Harmony Court is self-contained with own kitchen and WC https://www.irishtimes.com/business/commercial-property/pandemic-proofed-d2-office-investment-seeking-1-95m-1.4286256?mode=amp
- Office suite at Grand Canal Dock on sale for €1.95m: Self-contained unit in Dublin 2 includes facilities that help reduce contact with other occupiers https://www.businesspost.ie/commercial/office-suite-at-grand-canal-dock-on-sale-for-195m-7e2131c5
- OPW secures new offices at Balbriggan Business Campus – State to pay €18.50 per sq ft for 24,300sq ft at Brenta Group’s Paramount Place scheme https://www.irishtimes.com/business/commercial-property/opw-secures-new-offices-at-balbriggan-business-campus-1.4286289
- Could a well-known retailer be coming to the former Lidl premises in Kildare town? https://www.leinsterleader.ie/news/home/552474/could-a-well-known-retailer-be-coming-to-the-former-lidl-premises-in-kildare-town.html
- Dublin container port owner Peel’s Intu stake faces crisis
https://m.independent.ie/business/irish/dublin-container-port-owner-peels-intu-stake-faces-crisis-39310993.html
INTERNATIONAL PROPERTY NEWS
- All UK planning permissions extended until April 2021 – The government’s housing ministry has announced an extension of planning permission validity: https://www.theconstructionindex.co.uk/news/view/all-planning-permissions-extended-until-april-2021
- Extended site hours to last until April 2021 https://www.constructionnews.co.uk/buildings/sectors/extended-site-hours-to-last-until-april-2021-26-06-2020/
- Rent day arrives for struggling retailers https://www.bbc.com/news/business-53156586
- Is remote working here to stay? https://www.siliconrepublic.com/careers/hybrid-working-after-covid-19
- Amsterdam ejects Airbnb et al from three central districts in latest P2P platform limits https://techcrunch.com/2020/06/26/amsterdam-ejects-airbnb-el-at-from-three-central-districts-in-latest-p2p-platform-limits/
- Titan of house-building: Tony Pidgley, founder and chairman of leading house-builder Berkeley Group, has died at the age of 72. https://www.theconstructionindex.co.uk/news/view/tony-pidgley-titan-of-house-building