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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: 

 

 

• State body that enforces Covid-19 guidelines in workplaces has issued 54 prohibition notices in last six weeks: Covid-19 inspectors from the HSA have inspected over 1,500 workplaces since mid-June. https://www.thejournal.ie/hsa-workplace-inspections-5164055-Aug2020/

 

 

• Subcontractor on south Dublin construction site tests positive for COVID as two more builders forced to self-isolate: The site has been closed for two days while a deep clean is conducted  https://www.dublinlive.ie/news/health/subcontractor-south-dublin-construction-site-18719606.amp

 

 

• Two years of house-price falls, predicts AIB: The bank expects values to fall this year and next before recovering in 2022 –
  Irish property prices will drop by almost 6 per cent this year and about 5 per cent next year before returning to growth in 2022 https://www.thetimes.co.uk/edition/ireland/two-years-of-house-price-falls-predicts-aib-kg7kp6hr0

 

 

• This is an impotant read for any building/portfolio developers, managers or occupiers – Real Estate: Data as a Competitive Advantage https://standardaccess.co/real-estate-data-as-a-competitive-advantage/ 

 

• Hibernia REIT announces €25m share buyback programme https://propertydistrict.ie/hibernia-reit-announces-e25m-share-buyback-programme/

 

• Nama: Two men to be charged over NI’s biggest property deal https://www.bbc.com/news/amp/uk-northern-ireland-53678918

 

 

• “Double breasting”, alleged fraud and morning arrests by the feds: the case rocking corporate Irish America
  
  Three Irish top executives at a major New York construction firm are facing multiple charges brought by federal prosecutors. Their defence lawyer counters that they are being hounded by trade unions baying for “the last ounce of their blood”.
  
  https://www.thecurrency.news/articles/21615/double-breasting-alleged-fraud-and-morning-arrests-by-the-feds-the-case-rocking-corporate-irish-america

 

 

• Facebook agrees Irish wind-farm deal with Brookfield in Tipperary https://www.irishtimes.com/business/energy-and-resources/facebook-agrees-irish-wind-farm-deal-with-brookfield-in-tipperary-1.4324582?mode=amp

 

 

• Quanta Capital buys 300-acre Kippure Estate in Co Wicklow | Business Post https://www.businesspost.ie/hospitality/quanta-capital-buys-300-acre-kippure-estate-in-co-wicklow-4cc8fb83 

 

 

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. 

 

 

As Property Matters takes a summer break, we have collaborated with Proptech Ireland for a Radio & Podcast Summer Series for August 2020.

‘Meet the people developing, shaping and financing proptech innovation in Ireland’

First up, we talk to Padraig Neylon of +AddJust about the realities of starting a construction technology business in Ireland and raising funds. As is a common theme in Irish proptech fundraising, money comes from the industry but that is not without its challenges…

Listen back at https://ipropertyradio.com/577-2/ 

*Bonus points for anyone who can name the new intro music!!

Email the Property Matters team at hello@iPropertyRadio.com

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

 

• In Ringsend, Locals Resist a Proposed 15-Storey Development with No Provision of Social Housing https://dublininquirer.com/2020/08/05/in-ringsend-locals-resist-a-proposed-15-storey-development-with-no-provision-of-social-housing

 

 

• ‘Build our Greenway’ plea to An Bord Pleanála – Independent.ie https://m.independent.ie/regionals/kerryman/news/build-our-greenway-plea-to-an-bord-pleanala-39423738.html

 

 

• Another Dublin 6 co-living development labelled ‘totally incompatible’ in the age of Covid  https://www.thejournal.ie/harolds-cross-kenilworth-co-living-5168240-Aug2020/

 

 

• D7 residents object to co-living scheme beside Black Church: Durkan scheme which flanks former church gets 25 individual objections
  https://www.irishtimes.com/life-and-style/homes-and-property/d7-residents-object-to-co-living-scheme-beside-black-church-1.4322020?mode=amp

 

 

• Anger as plans for 94 harbour homes green-lit despite inspector rejection https://amp.independent.ie/irish-news/anger-as-plans-for-94-harbour-homes-green-lit-despite-inspector-rejection-39427486.html

 

 

• O’Rahilly house at risk after being damaged by vandalism https://www.irishtimes.com/culture/heritage/o-rahilly-house-at-risk-after-being-damaged-by-vandalism-1.4323000?mode=amp

 

 

• Dublin has chance to be reborn amid Covid-19: Covid-hit economy and culture will mutate and prosper for creative and nimble https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/opinion/una-mullally-dublin-has-chance-to-be-reborn-amid-covid-19-1.4320019?mode=amp

 

 

• Appeal lodged against 44-unit development on St John’s Road http://www.echo.ie/news/article/appeal-lodged-against-44-unit-development-on-st-john-s-road

 

 

• Luas for Cork: ‘A clear signal’ that implementation is now underway https://www.echolive.ie/corknews/Luas-for-Cork-A-clear-signal-that-implementation-is-now-underway-e7190138-383e-497a-93b3-25e32be4e555-ds

 

 

• €200,000 funding boost for Fingal Coastal Way https://amp.independent.ie/regionals/fingalindependent/200000-funding-boost-for-fingal-coastal-way-39418729.html

 

 

 

*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

 

• In the Business Post today: Housing sector has rebounded faster than predicted
  
  Key takeaways: Commencements are down but completions are picking up since lockdown ended, the latest analysis from Goodbody shows
  
  https://www.businesspost.ie/property-insight/housing-sector-has-rebounded-faster-than-predicted-50f50b34 

 

 

• Scrap building height limits, says housing minister O’Brien https://www-irishexaminer-com.cdn.ampproject.org/c/s/www.irishexaminer.com/news/arid-40028588.html?type=amp

 

 

• Aecom is to cut up to 500 jobs in the UK and Ireland as a result of the coronavirus crisis: https://www.constructionnews.co.uk/financial/aecom-cuts-500-jobs-05-08-2020/

 

 

• John Sisk & Son’s turnover increased by almost £100m to £417.9m for the year to 31 December 2019 (2018: £323.2m).
  The Irish-headquartered firm offered no explanation for the growth in its UK accounts…
  https://www.constructionnews.co.uk/financial/sisk-turnover-up-by-nearly-100m-05-08-2020/

 

 

• Cost of housing: putting homes out of reach
  
  The speculative market for land in the Republic incentivises landowners to drip feed it into the market on a cyclical basis to exact the best price
  
  https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-the-cost-of-housing-putting-homes-out-of-reach-1.4320896?mode=amp

 

 

• Homebuilders cite lessons from ‘scary’ crash as they plot future https://www.irishtimes.com/business/construction/homebuilders-cite-lessons-from-scary-crash-as-they-plot-future-1.4322026?mode=amp

 

 

• No floor and wall tiling apprentices registered since 2012: ‘Wet trades’ critical to construction industry, yet new apprenticeship registrations have plummeted https://www.irishtimes.com/news/ireland/irish-news/no-floor-and-wall-tiling-apprentices-registered-since-2012-1.4320146?mode=amp

 

 

• Law governing construction pay rates remains pending State appeal https://www.irishtimes.com/business/construction/law-governing-construction-pay-rates-remains-pending-state-appeal-1.4320110?mode=amp

 

 

• Pensions and COVID-19 | | Irish Building Magazine.ie | Ireland’s Leading Construction News & Information Portal https://www.irishbuildingmagazine.ie/2020/08/04/pensions-and-covid-19/

 

 

• Solar industry supercharged as 63 projects get state backing https://www.thetimes.co.uk/edition/ireland/solar-industry-supercharged-as-63-projects-get-state-backing-kd8knks3c

 

 

• Hardware sector warns it is facing wood ‘crisis’ https://amp.independent.ie/business/irish/hardware-sector-warns-it-is-facing-wood-crisis-39432099.html

 

 

• A guide to the building projects getting the green light around the country
  https://www.businesspost.ie/commercial/untitled-4909f818

 

 

• Dundrum Town Centre owner plans new residential projects  | Business Post https://www.businesspost.ie/companies/dundrum-town-centre-owner-plans-new-residential-projects-aea18151

 

 

• U+I pours away €4m for Guinness brewery tender https://www.thetimes.co.uk/edition/ireland/u-i-pours-away-4m-for-guinness-brewery-tender-tpzvctls2

 

 

• Emmet O’Neil firm Cumberland Developments checks in Dun Laoghaire aparthotel appeal https://www.thetimes.co.uk/edition/ireland/emmet-oneil-firm-cumberland-developments-checks-in-dun-laoghaire-aparthotel-appeal-tk26t0qnj

 

 

• Global Student Accommodation seeks to bed down tourists in Dublin college digs https://www.thetimes.co.uk/edition/ireland/global-student-accommodation-seeks-to-bed-down-tourists-in-dublin-college-digs-fh7vqjxqt

 

 

• Lioncor Properties to plant build-to-rent units at Cherrywood site in Dublin https://www.thetimes.co.uk/edition/ireland/lioncor-properties-to-plant-build-to-rent-units-at-cherrywood-site-in-dublin-b3xd9vf5j

 

 

• Elkstone closes Balbriggan bank deal after settling dispute with Aviva https://www.thetimes.co.uk/edition/ireland/elkstone-closes-balbriggan-bank-deal-after-settling-dispute-with-aviva-qfbxq96ln

 

 

• Plans submitted for futuristic media campus in Greystones: A new development at Killincarrig, which will incorporate a film and TV studio, could create as many as 1,200 new jobs in the Co Wicklow town https://www.businesspost.ie/commercial/plans-submitted-for-futuristic-media-campus-in-greystones-450ef5b0

 

 

• Quintain to seek permission for 1,000 homes at Cherrywood https://www.irishtimes.com/business/construction/quintain-to-seek-permission-for-1-000-homes-at-cherrywood-1.4322035?mode=amp

 

 

• Marlet begins delivery of 216 apartments in Dublin’s south docklands https://www.irishtimes.com/business/commercial-property/marlet-begins-delivery-of-216-apartments-in-dublin-s-south-docklands-1.4320886?mode=amp

 

 

• Marlet secures €65m from AIB for Dublin docklands build-to-rent scheme https://www.irishtimes.com/business/commercial-property/marlet-secures-65m-from-aib-for-dublin-docklands-build-to-rent-scheme-1.4324074?mode=amp

 

 

• Plans approved for new hotel development in The Liberties https://lovindublin.com/dublin/plans-approved-for-new-hotel-development-in-the-liberties

 

 

 

• Former City Arts Centre’s €50m-plus sale hits obstacle https://www.irishtimes.com/business/commercial-property/former-city-arts-centre-s-50m-plus-sale-hits-obstacle-1.4321853?mode=amp

 

 

• Tuath Housing unveils plans for 22 new homes at Hillview – Independent.ie https://m.independent.ie/regionals/wicklowpeople/news/tuath-housing-unveils-plans-for-22-new-homes-at-hillview-39422876.html

 

 

• PLANS are afoot for a large-scale strategic housing development (SHD) in the Bishopstown area.
  
  The proposal, if it proceeds in its current format, will see 276 residential units constructed at Ardarostig, Bishopstown.
  https://www.echolive.ie/corknews/Plans-afoot-for-major-housing-project-in-Cork-city-suburb-ae522f8e-23d7-43fd-a0bd-c8b7a68f4731-ds

 

 

• CITY TRIBUNE Galway City Council brands new PorterShed design “monotonous” https://connachttribune.ie/galway-city-council-brands-new-portershed-design-monotonous/

 

 

• Plans for 32 apartments in Murrough undergo substantial redesign https://www.galwaydaily.com/news/plans-for-32-apartments-in-murrough-undergo-substantial-redesign/

 

• Nautilus seeks €40m funding for Limerick data centre https://amp.independent.ie/business/irish/nautilus-seeks-40m-funding-for-limerick-data-centre-39432446.html

 

• Planning granted for apartments in Callan https://www.kilkennypeople.ie/news/callan/564788/planning-granted-for-apartments-in-callan.html

 

• PwC to locate 3,000 employees at new building in Belfast’s Merchant Square | Business Post https://www.businesspost.ie/commercial/pwc-to-locate-3000-employees-at-new-building-in-belfasts-merchant-square-11ccd1be

 

• SAINT-GOBAIN CONSTRUCTION PRODUCTS IRELAND APPOINTS PADRAIG BARRY AS MANAGING DIRECTOR https://constructionnews.ie/saint-gobain-construction-products-ireland-appoints-padraig-barry-as-managing-director/

 

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 * 

 

• Bam to use off-site to build Marlet apartment block in Dublin’s Docklands https://www.globalconstructionreview.com/news/bam-use-site-build-marlet-apartment-block-dublins-/

 

• Virtual house hunting gets a pandemic boost https://www.bbc.com/news/amp/business-53478010

 

• Digitalisation of Construction – Creating an industry that’s fit for the future http://www.bimireland.ie/2020/08/04/digitalisation-of-construction-creating-an-industry-thats-fit-for-the-future/

 

• Amy Marks joined Autodesk in late 2019 as the ‘Head of Industrialised Construction Strategy and Evangelism’. Previous to this, Amy was CEO of XSite Modular…
  https://www.irishbuildingmagazine.ie/2020/08/06/strategising-in-detail-with-amy-marks/

 

• Would #MLS work in the Irish marketplace? ‘New PropTech platform allows “revolutionary” multi-listing service’
  https://www.estateagenttoday.co.uk/breaking-news/2020/8/new-proptech-platform-allows-revolutionary-multi-listing-service?source=newsticker

 

• Digital Construction in the Netherlands http://www.bimireland.ie/2020/08/06/digital-construction-in-the-netherlands/

 

• ‘It’s Going To Be A Reckoning’: Proptech Survey Finds Drop In Confidence From Startups, Investors https://www.bisnow.com/national/news/technology/its-going-to-be-a-reckoning-proptech-survey-finds-drop-in-confidence-from-startups-investors-105487#ath

 

• PropTech start-up Howsy surpasses 900% of crowdfund goal https://www.businesscloud.co.uk/news/proptech-start-up-howsy-surpasses-900-of-crowdfund-goal/

 

• Proptech: What It Is + 15 Companies To Know | Built In https://builtin.com/consumer-tech/proptech

 

• UK Planning system to get digital overhaul https://www.computerweekly.com/news/252487264/Planning-system-to-get-digital-overhaul

 

• PropTech firm swipes at Purplebricks over property measurements https://www.estateagenttoday.co.uk/breaking-news/2020/8/proptech-firm-swipes-at-purplebricks-over-property-measurements

 

• European Smart Home Market worth $39.6 billion by 2025  https://www.prnewswire.co.uk/news-releases/european-smart-home-market-worth-39-6-billion-by-2025-exclusive-report-by-marketsandmarkets-tm–842715519.html

 

• MetaProp Raising $200M For Fourth Proptech Fund – Crunchbase News https://news.crunchbase.com/news/metaprop-raising-200m-for-fourth-proptech-fund/

 

• Property Accounting Startup Proper Raises $4.8M – Commercial Observer https://commercialobserver.com/2020/08/property-accounting-startup-proper-raises-4-8m/

 

• Singapore is getting the world’s tallest modular buildings https://www.globalconstructionreview.com/news/singapore-getting-worlds-tallest-modular-buildings/

 

• Google to invest $450M in smart home security solutions provider ADT – TechCrunch https://techcrunch.com/2020/08/03/google-to-invest-450m-in-smart-home-security-solutions-provider-adt/

 

• Listening Is the Catalyst to Emerging Market Innovation https://www.entrepreneur.com/article/353359

 

 

RESIDENTIAL PROPERTY NEWS

 

• More than 40% of help-to-buy recipients already had deposit https://www.irishtimes.com/business/economy/more-than-40-of-help-to-buy-recipients-already-had-deposit-1.4321033?mode=amp

 

 

• Why the Covid-19 crisis may push up house prices https://www.irishtimes.com/business/economy/why-the-covid-19-crisis-may-push-up-house-prices-1.4311938?mode=amp

 

 

• An Post’s ‘one-stop shop’ for greener homes https://m.independent.ie/business/personal-finance/an-posts-one-stop-shop-for-greener-homes-39421211.html

 

 

• Acquisitions help rental income jump 30pc at Ireland’s largest private landlord https://amp.independent.ie/business/commercial-property/acquisitions-help-rental-income-jump-30pc-at-irelands-largest-private-landlord-39430444.html

 

 

• Residential Rent Collection & Occupancy in Dublin Remains Buoyant in July https://www.cbre.ie/en/about-cbre/newsroom/articles/2020/residential%20rent%20collection%20,-a-,%20occupancy%20in%20dublin%20remains%20buoyant%20in%20july?utm_source=linkedin&utm_medium=social&utm_term=61ec9790-fb1d-4048-b9a7-1f6650353df9

 

 

• Ires Reit to sell off €50m in assets after buoyant first half – Nation’s top landlord takes €27m revaluation hit in results https://amp.independent.ie/business/commercial-property/ires-reit-to-sell-off-50m-in-assets-after-buoyant-first-half-39432452.html

 

 

• What will €385k buy in Dublin and west Cork? https://www.irishtimes.com/life-and-style/homes-and-property/what-will-385k-buy-in-dublin-and-west-cork-1.4320827?mode=amp

 

 

• 10 upgrades that will add value to your home and 5 that probably won’t https://www.irishtimes.com/life-and-style/homes-and-property/interiors/10-upgrades-that-will-add-value-to-your-home-and-5-that-probably-won-t-1.4322842?mode=amp

 

 

• Home renovation basics: the costs and how to get started https://www.irishexaminer.com/sponsored/arid-40028369.html

 

 

COMMERCIAL PROPERTY NEWS

 

• Office rentals in Dublin halved in opening six months of year due to Covid-19 https://www.irishtimes.com/business/commercial-property/office-rentals-in-dublin-halved-in-opening-six-months-of-year-due-to-covid-19-1.4320034

 

• What will the office market look like after the great remote working experiment? https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/what-will-the-office-market-look-like-after-the-great-remote-working-experiment-1.4323683?mode=amp

 

• Are we really facing the death of the office? https://www.irishtimes.com/life-and-style/people/are-we-really-facing-the-death-of-the-office-1.4320891?mode=amp

 

• German investor pays €60m for Dublin 2 office block https://www.irishtimes.com/business/commercial-property/german-investor-pays-60m-for-dublin-2-office-block-1.4323677?mode=amp

 

• UK property group Hammerson cuts value of Irish assets by almost €100m https://amp.independent.ie/business/commercial-property/hammerson-cuts-value-of-irish-assets-by-almost-100m-39429989.html

 

• €12.5m sought for Clonskeagh office building rented by Ericsson group https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/12-5m-sought-for-clonskeagh-office-building-rented-by-ericsson-group-1.4321665?mode=amp

 

• Ikea company upsizes office at Shelbourne Road in Ballsbridge: Fami Ltd has signed a short-term lease with the building’s new owners U+I and Colony Capital to expand its existing footprint by an additional 135 square metres
  https://www.businesspost.ie/commercial/ikea-company-upsizes-office-at-shelbourne-road-in-ballsbridge-8395a07b

 

• M7 Real Estate acquires former ADM Londis HQ in Kildare https://www.irishtimes.com/business/commercial-property/m7-real-estate-acquires-former-adm-londis-hq-in-kildare-1.4320810?mode=amp

 

INTERNATIONAL PROPERTY NEWS

 

 

• Equiem releases results of 2020 global office tenant survey https://www.propertyfundsworld.com/2020/08/03/288145/equiem-releases-results-2020-global-office-tenant-survey

 

 

• Buyers report robust construction recovery in July https://www.constructionenquirer.com/2020/08/06/buyers-report-robust-construction-recovery-in-july/

 

 

• What the doomsayers for commercial property stocks are missing: Institutional buyers are sniffing around listed developers after the coronavirus sell-off
  https://amp-ft-com.cdn.ampproject.org/c/s/amp.ft.com/content/5fad5ab5-2414-4ea4-9ad3-7813a4b6545a