Sunday Property Round-Up, April 26th 2020

 

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Irish property market news and insights – for the industry, by the industry  

 

There is very little new industry news this weekend, most of the industry coverage has already been dealt with throughout the week. I have tried to avoid duplicating stories and have only done so where there is some additional information or insights provided.

 

Of course, coverage of the pandemic and the ongoing impact of this dominates the broadsheets today. The industry is playing its part – particularly shout out to all at Harcourt Developments for this: Harcourt Developments embarks on anti-Covid charity drive: The building group has set up donation points at all its properties to help support frontline medical staff battling to quell the coronavirus https://www.businesspost.ie/coronavirus/harcourt-developments-embarks-on-anti-covid-charity-drive-1f11cff2

 

 

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: 

 

 

 

 

 

 

  • Farmers and developers line up to oppose land price cap plan:  Fianna Fáil and Fine Gael have promised to hold a referendum on the move to address the housing crisis if they are able to form a new government
    https://www.businesspost.ie/ireland/farmers-and-developers-line-up-to-oppose-land-price-cap-plan-27a9b5c9

 

 

 

 

  • Construction contracts adjudication service resumes: The Construction Contracts Adjudication Service (CCAS) has resumed operations to process applications for appointments of adjudicators under the Construction Contracts Act 2013.

    Due to the ongoing restrictions in place, the service may not be able to process applications strictly within the seven-day timeframe as set out in the handbook.

    https://www.lawsociety.ie/gazette/top-stories/construction-contracts-adjudication-service-resumes/

 

 

  • Ireland’s data  centres continue to hum regardless of the lockdown:  Overnight, data became a utility. Those events launched a boom in the creation, storage, importing and exporting of data, which the UN describes as the fourth industrial revolution.

    Ireland has placed itself at the centre of this revolution. Globally, we are a top-tier location and the data centre cluster around Dublin is the biggest metropolitan cluster in Europe. That is why information and communications technology was Ireland’s largest export sector last year, at $82bn.
    https://m.independent.ie/business/commercial-property/irelands-data-centres-continue-to-hum-regardless-of-the-lockdown-39149918.html

 

 

 

 

 

 

  • Irish geoscience companies feel the chill of Covid-19: Covid-19 is finding its troublesome way into every nook and cranny. Geoscience Ireland (GI) has called on the Government to help with cash flow issues in the sector, ensure infrastructure and Project 2040 spending is maintained, and to allow for a gradual but early reopening of construction projects.

    GI is a business network for a cluster of 40 companies involved in infrastructure development, water and mineral resources, and environmental engineering, managed by Geological Survey Ireland, with revenues totalling about €360m, a third from overseas.
    https://amp.independent.ie/business/irish/irish-geoscience-companies-feel-the-chill-of-covid-19-39155752.html

 

 

 

 

 

 

 

 

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@caroltallon.com.

 

(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. 

 

 

Current activity in the property market, expectations for 2020, the reality of remote working and scaling solutions for proptech 

Joining us on Property Matters this week are Ray Cooke, Managing Director of Ray Cooke Auctioneers, John Moran, CEO of JLL in Ireland,  PJ Appleton and Adam Malik, Co-founders of Bloxspring

 

Topics discussed: Current market conditions and how the industry is reacting to them; technology facilitating remote working; JLL Q1 office report and forecasts for 2020 market performance; and the new startup helping proptech providers scale globally.

 

Further details and link to listen back here: https://ipropertyradio.com/property-matters-21st-april-2020-current-activity-in-the-property-market-expectations-for-2020-the-reality-of-remote-working-and-scaling-solutions-for-proptech/ 

 

Listen back to all #PropertyMatters episodes here: https://ipropertyradio.com 

 

 

Email the Property Matters team at hello@iPropertyRadio.com

 

Also:

 

 

Carol Tallon Newstalk

 

Housing & Property Markets Post Covid-19 | Newstalk

I was delighted to join Patrick Davitt, CEO of IPAV – Institute of Professional Auctioneers and Valuers and Karl Deeter, Director at Yes.ie  on this week’s ‘Between the Lines’ programme on Newstalk 106-108 FM  with Andrea Gilligan to discuss the housing and property market post Covid-19.

Listen back: https://www.newstalk.com/podcasts/between-the-lines-with-andrea-gilligan/housing-property-markets-post-covid-19?utm_source=whatsapp&utm_campaign=article&utm_medium=web

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

 

 

 

  • Fears for fate of The O’Rahilly house at Dublin’s Herbert Park:  Efforts are underway to preserve the final home of The O’Rahilly, who died in the 1916 Rising. It follows proposals for its demolition to make way for an apartment scheme.

    The McSharry and Kennedy building families, owners of the Herbert Park Hotel, want to build 105 apartments fronting onto Herbert Park on the site of three Edwardian villas.

    Two of the houses, numbers 36 and 38 Herbert Park have been recently demolished. The last remaining house of the row, number 40, was the home of Michael Joseph O’Rahilly, known as The O’Rahilly, the only leader of the Rising to die in battle.

    His grandson, Proinsias O’Rahilly said he was deeply concerned number 40 will now be levelled despite there being no planning permission in place for its demolition.


    https://www.irishtimes.com/culture/heritage/fears-for-fate-of-the-o-rahilly-house-at-dublin-s-herbert-park-1.4235252?mode=amp

 

 

  • Council blocks hotel group’s plans to demolish vacant homes  | Business Post

    The O’Callaghan group has been denied permission to knock down five two-storey houses in Dublin city centre

    https://www.businesspost.ie/companies/council-blocks-hotel-groups-plans-to-demolish-vacant-homes-27aabc5f

 

 

 

 

 

 

  • Ireland’s first virtual pub opens its doors to the public:

    THE WORLD’S very first virtual Irish pub has opened its doors to the public.

    With bars and pubs across Ireland and much of the world closed during lockdown, a group of Irish hospitality professionals have joined forces to create an online platform designed to recreate the experience of going to the pub in a virtual setting.

    The result is ThePub.ie, an online venture that utilises the latest in video conferencing technology to allow friends to meet up for a jar or two from the comfort of their sofa.

    Not only that, ThePub.ie also offers a platform for people to make new acquaintances or even go on an online date or two during this period of inactivity.

    https://www.irishpost.com/news/irelands-first-virtual-pub-opens-doors-public-184132

 

 

 

 

*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 Marketing Ireland

 

  • ‪Irish Planning Conference 2020‬

    ‪http://cmgevents.ie/events/irish-planning-conference-2/

 

 

 

 

  • Construction resumes on social housing projects: Construction is resuming on 35 social housing projects to ensure local authorities can deliver accommodation for people currently in emergency accommodation or at risk of homelessness during the current pandemic, the Department of Housing, Planning and Local Government confirmed.

    However, the Construction Industry Federation has warned members that if they do not comply rigorously with health and safety regulations, sites will be closed down again.
    https://www.rte.ie/news/business/2020/0420/1132723-construction-resumes-on-social-housing-projects/

 

  • Judge urges parties to large-scale planning disputes to shorten hearing time:  Parties involved in legal challenges concerning large-sized strategic developments have been urged, in light of the Covid-19 pandemic, to try to shorten the time it takes for the High Court to hear such disputes.

    The comments were made on Thursday by Mr Justice Denis McDonald, the presiding judge over the fast-track Strategic Infrastructure Development list.

    The list concerns challenges against decisions made by An Bord Pleanála concerning large infrastructure developments that were made directly by the developer to the board, bypassing the local authority.

    https://www.irishtimes.com/business/commercial-property/judge-urges-parties-to-large-scale-planning-disputes-to-shorten-hearing-time-1.4236192?mode=amp

 

  • Up to 1,000 social housing units to be completed, says Housing Agency: Work is to commence shortly on finishing about 1,000 homes on 35 social housing sites which are currently near completion.

    Contractors are being notified by the Housing Agency that this work is considered essential and should go ahead.

    House-building work has ceased since most of the construction sector was closed as part of the Government’s final phase of Covid-19 restrictions.

    “Local authorities are working in these challenging circumstances to ensure that they have sufficient accommodation available to meet the needs of families and individuals who are currently in emergency accommodation and to households at risk of homelessness during the current public health emergency,” the agency said.
     https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/construction/up-to-1-000-social-housing-units-to-be-completed-says-housing-agency-1.4233514?mode=amp

 

 

 

 

 

 

 

 

  • Nama closes bids for development of Ringsend glass bottle site:

    Developers still interested in joining forces with Nama to build 3,500 apartments, along with offices and shops, on the site, had to submit their final bids to Nama on Monday.

    Nama did not comment on the number of bids received on Monday, nor on how long it was likely to take the agency to choose a partner to develop the site.

    Several high-profile property players were said to be left in the race to develop the Dublin property.

    They include developer Sean Mulryan’s Ballymore Group, which was regarded as one of the front-runners in the process.

    His company worked closely with interested parties, including Dublin City Council, when it was preparing its tender.

    https://www.irishtimes.com/business/construction/nama-closes-bids-for-development-of-ringsend-glass-bottle-site-1.4233589?mode=amp

 

 

 

 

  • Hibernia Reit: Expanded development of Harcourt Square approved:

    Designed by leading Irish architects Henry J Lyons, the scheme will deliver 343,000 sq. ft.[i] of Grade A office accommodation on the 1.9 acre city centre site, an increase of 28,000 sq. ft. (+9%) over the previously approved plans for a 315,000 sq. ft.[ii] scheme, and follows further work to optimise the layout.

    https://propertydistrict.ie/hibernia-reit-expanded-development-of-harcourt-square-approved/

 

 

 

 

  • An Bord Pleanala Refuses Permission For 120 New Homes In Maynooth: Ladas Property Company Unlimited Company was engaged in a Strategic Housing Development application with ABP on its proposal.

    The firm wanted to build 120 apartments, and a creche, on lands adjoining and to the rear of St Mary’s Church on Mill Street,

    An Bord Pleanala, in citing its reasons for refusing permission, cited the Site Specific Flood Risk Assessment submitted with the application
    https://kfmradio.com/news/24042020-0812/bord-pleanala-refuses-permission-120-new-homes-maynooth

 

  • Housing development in Offaly town gets go ahead: A housing development in Offaly has been given the go ahead by the county council.

    Permission was sought for a development consisting of eight houses in Cloghan at Breachach on the Birr Road.

    All eight of the houses will be three bed, two storey dwellings. Also included in the plans are all associated site works and connections to services and roads.
    https://www.offalyexpress.ie/news/home/536132/housing-development-in-offaly-town-gets-go-ahead.html

 

 

 

 

 

 

  • Italian hedge fund has built up €15m stake in Glenveagh  | Business Post

    Helikon Investments, founded last year, has a 3.07 per cent stake in the Irish house building company which has closed all its building sites in accordance with government guidance on Covid-19

    https://www.businesspost.ie/markets/italian-hedge-fund-has-built-up-15m-stake-in-glenveagh-cce34969

 

 

 

  • Scaffolders ‘ScaffShirt’ set to Launch: A Bradford company is about to launch a new innovative product set to revolutionise the scaffolding and allied construction industries.

    Gaaard Protection Ltd has developed ‘The Scaffshirt’, offering extra protection for scaffolders carrying loads on their shoulders, while meeting current Health and Safety visibility requirements needed for safe site work.

    The ScaffShirt is a versatile specialist high quality hi-vis protective work-wear shirt with weight-bearing padded shoulders for supporting shoulder joints for example, when carrying heavy items such as bricks and scaffolding tubes.
    https://scaffmag.com/2020/04/scaffolders-scaffshirt-set-to-launch/

 

Scaffordling Ireland

 

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

Proptech Ireland

 

  • 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 * 

 

  • How is technology driving real estate sales online in the current crisis? Understanding how, when and what your customers will be buying from you and how to keep up with your customer’s needs?

    THE PROPIT FREE WEBINAR SERIES hosted by Terrapinn

    Register for your Proptech Ireland-delivered seminar place here: https://bit.ly/3eCAyvW

 

  • Bringing a digital dimension to construction costs | Business Post

    When two brothers from Dublin came home from Australia and saw a gap in the domestic building costings market, the result was Livecosts.com

     https://www.businesspost.ie/smes/bringing-a-digital-dimension-to-construction-costs-e70411d5

 

 

  • Irish proptech: BidX1 licensing its online auctioneer platform | Business Post: The Irish property agency is close to announcing a couple of tie-ups with with rural estate agents
    https://www.businesspost.ie/residential/bidx1-licensing-its-online-auctioneer-platform-f38119fb

 

  • Irish smart city solution: Working in tandem with tech to set a business idea in motion  | Business Post

    Initially a pet project, See.Sense now sells smart lights into 70 countries and collects practical data to inform safety and traffic planning decisions

    https://www.businesspost.ie/smes/working-in-tandem-with-tech-to-set-a-business-idea-in-motion-faa5030a

 

 

 

 

 

 

 

 

  • How Tech is Aiding Property Managers During Pandemic:  Automated entry. Intelligent buildings. Package lockers on every other corner.
    This is what urban living will look like in five years, thanks to technology that’s gaining traction during the coronavirus pandemic as property managers work to keep buildings running with minimal human contact.

    “Property management is on the front lines,”
    https://therealdeal.com/2020/04/21/normal-is-over-how-covid-19-is-fast-tracking-tech/

 

 

 

 

 

OTHER PROPERTY NEWS

 

Property district Sunday property

 

 

 

  • Less than 5% of new builds available to average earners according to housing report https://extra.ie/2020/04/25/business/property/housing-report-2020/amp

 

 

 

 

  • Murphy says the crisis highlights the amount of short-term lets:  Airbnb properties currently being used for homeless services must not go back into the private market according to Minister for Housing Eoghan Murphy.

    The minister has said that Airbnb and other short-term letting agencies will have to be regulated directly to ensure this does not happen.

    Mr Murphy was today visiting an aparthotel facility in the South City with 110 units that is being used to house cases or suspected cases of Covid-19 among the homeless community.


    https://www.rte.ie/news/dublin/2020/0421/1132968-airbnb-properties/

 

 

  • In The Sunday Times today:Could Covid-19 lead to lower rents?
    “If anything good comes out of this pandemic let it be lower rents in Ireland’s cities. When the Covid-19 restrictions were first put in place, in March, the website Daft.ie saw a surge in new advertisements for Dublin. Some of these were from a collapsing short-term rental market, but others were the result of homes being vacated by foreign workers returning home. On Wednesday, Daft reported that rental listings for central Dublin were up 75% this month on the previous year. In contrast, listings for the rest of the country were down…”
    https://www.thetimes.co.uk/edition/ireland/could-covid-19-lead-to-lower-rents-w6j3d52xh

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • ‘Minor and immaterial’ increase in apartments listed for rent  | Business Post: Research shows the number of apartments available to rent in March this year was only marginally ahead of the previous peak in November
    https://www.businesspost.ie/residential/minor-and-immaterial-increase-in-apartments-listed-for-rent-20804e9c

 

 

 

 

 

 

 

 

  • Tenants told that workouts could make flats fall apart: A letting agent has warned some people renting renovated Dublin bedsits that they should not exercise in their flats using dumbbells or kettlebells as it “could cause the ceiling to collapse”.

    Belgrave Property Management, which manages many of the capital’s renovated bedsits, recently emailed tenants telling them not to do “high-impact” exercise in their homes.
    https://www.thetimes.co.uk/article/tenants-told-that-workouts-could-make-flats-fall-apart-jngfgn8hk

 

 

 

 

  • Corum adds €5.6m Cork Aldi outlet to portfolio | Business Post: The purchase brings the French investment company’s spend to over €210 million across the island of Ireland

    https://www.businesspost.ie/commercial/corum-adds-56m-cork-aldi-outlet-to-portfolio-35e345f6

 

 

 

 

 

 

 

 

  • Aoife Coughlan: How tenants and landlords can navigate Covid’s challenges | Business Post https://www.businesspost.ie/commercial/aoife-coughlan-how-tenants-and-landlords-can-navigate-covids-challenges-16c4739d

 

 

  • No time to lose as demand remains high for retail space | Business Post: Even as the economy contracts in the face of Covid-19, Irish retailers are opening up more outlets in various locations around the country

    https://www.businesspost.ie/commercial/no-time-to-lose-as-demand-remains-high-for-retail-space-951243f4

 

 

 

 

  • Bishop’s Square scheme in Dublin city sold for €182m: GLL Real Estate Partners, an affiliate of the Australian investment bank Macquarie Group and German-headquartered investor Patrizia AG, has completed the acquisition for €182 million of the Bishop’s Square office scheme in Dublin city centre.

    While the successful completion of the sale represents a particular coup for Hines, it will also be seen as providing a major boost to the Irish market, coming as it does in the midst of the Covid-19 crisis. The amount paid by GLL is slightly more than the €180 million price which Kyle Rothwell of agent CBRE had been guiding when he brought the property to the market on behalf of the US-headquartered real estate giant in May of last year.
    https://www.irishtimes.com/business/commercial-property/bishop-s-square-scheme-in-dublin-city-sold-for-182m-1.4234235?mode=amp

 

 

 

 

 

 

  • Amazon packs a punch in Dublin with rented warehouses:  Amazon has leased its first e-commerce warehouse in Dublin and is finalising plans to rent more space in the capital that would allow it to expand its operations significantly.

    The online giant will create 20 permanent jobs at the 6,800 sq m “delivery station” at Greenogue Business Park in south west Dublin. It is the first time the US company has directly hired staff in Ireland to handle online orders.
    https://www.thetimes.co.uk/article/amazon-packs-a-punch-in-dublin-with-rented-warehouses-h7dkrj589

 

 

 

 

 

 

 

 

 

 

  • An Post to offer ‘green’ loans for retrofitting homes | Business Post: Move aims to support the government’s Climate Action Plan over the coming years

    https://www.businesspost.ie/climate-environment/an-post-to-offer-green-loans-for-retrofitting-homes-62dfc526

 

 

 

INTERNATIONAL PROPERTY NEWS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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