Weekly 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: 

• Any use cases (other than vanity) for NFTs of what is effectively a digital twin?  ‘Fancy a metaverse mansion NFT? Buy it with the real deal for £29m: This Surrey property will come with first refusal on an NFT letting the buyer use it in virtual worlds’ https://www.thetimes.co.uk/article/nft-metaverse-mansion-surrey-8ws283b73 Also: “Metaverse Mortgages” Can Now Finance Your Virtual Real Estates  https://amp-fxempire-com.cdn.ampproject.org/c/s/amp.fxempire.com/en/metaverse-mortgages-can-now-finance-your-virtual-real-estates/882745

 

• And in the real world, the news we’re most excited about this week… Iput and A&L Goodbody join forces to create Ireland’s most sustainable building: Law firm to relocate operations to Dublin Landings for duration of HQ redevelopment https://www.irishtimes.com/business/commercial-property/iput-and-a-l-goodbody-join-forces-to-create-ireland-s-most-sustainable-building-1.4802768

 

• Kelly slams lack of progress on reform of Bord Pleanála: Labour leader said lack of ‘political will’ was the reason why only 36 of 101 recommendations had been implemented in six years since independent review https://www.businesspost.ie/Planning/kelly-slams-lack-of-progress-on-reform-of-bord-pleanala-846f6907

 

• Ireland needs MORE international property funds, not fewer, to solve the housing crisis, Finance Minister Paschal Donohoe has claimed. Paschal Donohoe revealed on Tuesday that Ireland has a massive €4billion-per-year shortfall in investment which is needed to build 33,000 houses a year – money that could come from foreign investment funds  https://extra.ie/2022/02/16/property/paschal-donohoe-property-funds?amp=1 

 

• LISTEN BACK: The past decade has seen the emergence of the institutional investor in property. But are they making a positive or negative contribution to the rental market? Host Fionnán Sheahan is joined by Irish Independent business journalist John Mulligan and public affairs correspondent Amy Molloy to discuss who are the new landlords what’s their plan? https://m.independent.ie/podcasts/the-indo-daily/the-indo-daily-cloud-cuckoo-land-irelands-new-landlord-class-vultures-or-saviours-41346868.html

 

• Central Bank must tread carefully on leverage rules: Without adequate leverage investors may not see Irish property as a viable investment https://www.irishtimes.com/business/commercial-property/central-bank-must-tread-carefully-on-leverage-rules-1.4802751

 

• FactCheck: Has Sinn Féin objected to the construction of 6,000 houses? https://www.thejournal.ie/factcheck-sinn-fein-objection-6000-houses-5679519-Feb2022/

 

• The sliding scale in the government’s mica redress scheme is set to be dropped and replaced with a new model. The government is instead set to use a model proposed by the Society of Chartered Surveyors Ireland (SCSI) https://www.thetimes.co.uk/article/mica-redress-scheme-sliding-scale-to-be-dropped-73sw688cn

 

• Westport homes latest to face pyrite nightmare  https://www.mayonews.ie/news/37998-westport-homes-latest-to-face-pyrite-nightmare

 

• Ryan denies retrofitting scheme will be ‘next mica scandal’: ‘This is not a heat of the moment energy crisis or price crisis response,’ Minister tells Dáil https://www.irishtimes.com/news/politics/ryan-denies-retrofitting-scheme-will-be-next-mica-scandal-1.4805545

 

• Call for architects to find creative solutions to housing crisis: The Housing Unlocked initiative is looking for innovative and practical ideas from the public and professionals to help solve the issue  https://www.businesspost.ie/residential/call-for-architects-to-find-creative-solutions-to-housing-crisis-71cd4d72

 

• Majority of Irish savers unsure of terms ESG and ‘responsible investing’ – survey: Research by Amundi finds strong appetite among savers to invest in greener products  https://www.irishtimes.com/business/financial-services/majority-of-irish-savers-unsure-of-terms-esg-and-responsible-investing-survey-1.4803397

 

• Docklands companies call for Dublin port to be moved: More than 200 hectares of port land could be better used for housing and offices, firms say https://www.irishtimes.com/news/ireland/irish-news/docklands-companies-call-for-dublin-port-to-be-moved-1.4802326 Also: Two reasons why Johnny Ronan wants Dublin Port to move – Cantillon: RGRE would like port moved to Bremore to free up development land  https://www.irishtimes.com/business/commercial-property/two-reasons-why-johnny-ronan-wants-dublin-port-to-move-1.4806432 and Can Ronan turn the tide at last on Dublin Port? https://www.thetimes.co.uk/article/can-ronan-turn-the-tide-at-last-on-dublin-port-tp6rjhrlm 

 

• Watch: Cork Electrician takes to TikTok to urge teens to take up trades – The Ballincollig sparks said that college should not be the be-all and end-all for school-leavers https://www.corkbeo.ie/news/watch-cork-electrician-takes-tiktok-23112368

 

• ‘Noticeable decline’ as 29,031 acres of agricultural land sales completed in 2020: The volume of land sales completed fell 53% during the first year of the pandemic  https://www.irishexaminer.com/farming/arid-40811700.html

 

• I’d like to sell my underground car park space, but it’s proving difficult. Property Clinic: There are potential issues with insurance, legalities and access  https://www.irishtimes.com/life-and-style/homes-and-property/i-d-like-to-sell-my-underground-car-park-space-but-it-s-proving-difficult-1.4799750

 

• How to Overcome Return-to-Office Resistance  https://hbr.org/2022/02/how-to-overcome-return-to-office-resistance

 

• Watch: Cork students build Mongolian-style housing solution that doesn’t cost the Yurt – Right in the city centre, there’s a cosy Yurt that offers a possible solution to our housing issues  https://www.corkbeo.ie/news/local-news/watch-cork-students-build-mongolian-23116839

 

• Can data centres provide a sustainable vehicle for change?  https://irishtechnews.ie/data-centres-a-sustainable-vehicle-for-change/

 

• Does shelling out for tech pay off for small businesses? There are many tech solutions for mom-and-pop shops – if you can afford them  https://www.irishtimes.com/opinion/does-shelling-out-for-tech-pay-off-for-small-businesses-1.4805394

 

• Anna Kendrick and Barbie Fend Off Aggressive Home Buyers in Rocket Mortgage’s Super Bowl Ad: Other dolls begin a bidding war for the Dreamhouse  https://www.adweek.com/brand-marketing/anna-kendrick-barbie-rocket-mortgage-super-bowl-ad/

 

• The man who sold everything: tributes paid upon death of renowned estate agent Robert Ganly who passed away suddenly at his Dublin home at the age of 66 https://m.independent.ie/irish-news/the-man-who-sold-everything-tributes-paid-upon-death-of-renowned-estate-agent-robert-ganly-41354317.html (Pictured)

 

 

If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/sunday-roundup/ 

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 and podcast, which launched in January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com), returned last month for a fourth season. The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech.

On #PropertyMatters on iPropertyRadio.com this week, Martina Hennessy of doddl.ie joins me to discuss Ireland’s mortgage market, the options for mortgage holders of exiting banks, and potential new players that might enter the Irish market.

Also, in part 2, Cathaoirleach and Labour Cllr. for Dublin Rathdown Lettie McCarthy, and Fianna Fail Senator (Industrial and Commercial Panel)  Gerry Horkan, join Bryan Fox to discuss the briefing for the final meeting about the Dun Laoghaire County Development Plan.

Watch back: https://youtu.be/RZ8GW2LUlJw 

 

 

Produced by Hear Me Roar Media

👉 Listen back to this and all shows at: https://ipropertyradio.com  

Email the Property Matters team at info@propertydistrict.ie 

 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• Some of Ireland’s most prominent property developers are opposing a proposal that 5 per cent of all large-scale developments in Dublin be set aside for cultural space. https://www.thetimes.co.uk/article/property-developers-attack-plan-for-cultural-spaces-in-dublin-pxlt2c3bj

 

• Dublin City Council acquired 25 derelict sites over the past five years  https://www.breakingnews.ie/amp/ireland/dublin-city-council-acquired-25-derelict-sites-over-the-past-five-years-latest-figures-show-1257832.html

 

• Docklands companies call for Dublin port to be moved: More than 200 hectares of port land could be better used for housing and offices, firms say  https://www.irishtimes.com/news/ireland/irish-news/docklands-companies-call-for-dublin-port-to-be-moved-1.4802326

 

• Dublin archdiocese urges rezoning church sites to allow homebuilding: Properties listed in 130-page submission from Catholic Archdiocese include 33 churches  https://www.irishtimes.com/news/ireland/irish-news/dublin-archdiocese-urges-rezoning-church-sites-to-allow-homebuilding-1.4804591

 

• Court challenge to building of 1,600 apartments on site of former Drumcondra seminary: Foxrock woman is allowed to pursue a judicial review over the fast-track planning permission https://m.independent.ie/irish-news/courts/court-challenge-to-building-of-1600-apartments-on-site-of-former-drumcondra-seminary-41349751.html

 

• Ballymun’s towering failure: A decade after regeneration of the north Dublin suburb, progress on housing has stalled  https://www.thetimes.co.uk/article/ballymuns-towering-failure-wtzld7mrq

 

• Feasibility study into proposed Wicklow to Greystones greenway currently taking place  https://m.independent.ie/regionals/wicklow/news/feasibility-study-into-proposed-wicklow-to-greystones-greenway-currently-taking-place-41338869.html

 

• Legal challenge against Clane development to go ahead despite donation of house for raffle: Clane Community Council has been granted leave to lodge three judicial reviews related to decisions to grant planning permission for more than 500 new homes in the area https://www.businesspost.ie/houses/legal-challenge-against-clane-development-to-go-ahead-despite-donation-of-house-for-raffle-0970c7ff

 

• They quit the city during lockdown. What happens now it’s over? Remote working and the sudden closure of urban amenities prompted many to flee the city during Covid. Will their new way of life be sustainable in the longer term? https://m.independent.ie/life/they-quit-the-city-during-lockdown-what-happens-now-its-over-41354213.html

 

• Council notices appear on derelict sites across Cork as city plans for refurbishment: Cork City Council are on the hunt for the owners of the city’s vacant properties in order to transform the derelict spots  https://www.corkbeo.ie/news/local-news/council-notices-appear-derelict-sites-23109297

 

• €170m to be spent on ‘active travel projects’ across Cork: Emphasis will be on connecting housing estates with schools, village/town cores and employment hubs  https://www.irishexaminer.com/news/munster/arid-40808706.html

 

• Freemasons seek planning permission to extend Cork hall into Bishop Lucey Park: Provincial Grand Lodge of Munster said the building presently lacks universal access  https://www.irishexaminer.com/property/developmentconstruction/arid-40810086.html

 

• Watch: proactive Glanmire community draws up detailed plans for new playground: It’s a pro-active effort by the local residents who want the council to back their plans https://www.corkbeo.ie/culture/family-kids/glanmire-community-draws-up-detailed-23083926

 

• Long Island in West Cork is one of Carbery’s mythical hundred isles: Though there are only a handful of permanent residents today in among the holiday houses of Long Island, it had a population of 305 people in 1841  https://www.irishexaminer.com/lifestyle/outdoors/arid-40806000.html

 

• Over 1,500 sign petition against development of homes near seafront in Bearna  https://galwaybayfm.ie/galway-bay-fm-news-desk/over-1500-sign-petition-against-development-of-homes-near-seafront-in-bearna/

 

• Building company launches challenge to Galway Ring Road  https://www.breakingnews.ie/ireland/building-company-launches-challenge-to-galway-ring-road-1259097.html

 

• Kilkenny crowned as one of the most charming medieval towns/cities in Europe  https://www.kilkennypeople.ie/news/kilkenny-city/745067/kilkenny-crowned-as-one-of-the-most-charming-medieval-towns-cities-in-europe.html

 

• Applegreen is accused of holding Naas to ransom over derelict site | Kildare Nationalist https://kildare-nationalist.ie/2022/02/18/applegreen-is-accused-of-holding-naas-to-ransom-over-derelict-site/

 

• Historic listed building, built in 1852, is closed off https://www.killarneytoday.com/historic-listed-building-built-in-1852-is-to-be-fenced-off/

 

• Meet the Great Blasket’s new caretakers: A young couple from Canada and the Netherlands have been announced as the next caretakers https://www.newstalk.com/news/meet-the-great-blaskets-new-caretakers-1310936

 

• Outdoor dining in Killarney set for April  https://m.independent.ie/regionals/kerryman/news/outdoor-dining-in-killarney-set-for-april-41359507.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* https://www.youtube.com/watch?v=rdwwKy4MA_4 

 

CONSTRUCTION & DEVELOPMENT NEWS

• High construction material prices set to continue for 2022: While the costs of some materials such as copper and timber appear to be easing, supply chain disruption, the cost of production and high demand will keep prices high, according to the latest report by consultancy firm Linesight  https://www.businesspost.ie/commercial/high-construction-material-prices-set-to-continue-for-2022-50590664

 

• Surge in activity as Covid fears wane – but input costs are still increasing:  ACTIVITY in Ireland’s construction sector has accelerated since the start of the year as pandemic fears wane. And this year is expected to be the strongest in more than a decade for office completions in Dublin https://m.independent.ie/business/irish/surge-in-activity-as-covid-fears-wane-but-input-costs-are-still-increasing-41343406.html

 

• New bill to encourage builders to recycle demolition waste: The Circular Economy Bill will impose levy on disposal and speed up approval process for reusing existing soil, stone and concrete https://www.businesspost.ie/climate-environment/new-bill-to-encourage-builders-to-recycle-demolition-waste-004831cd

 

• County councils held close to €300m in development bonds in 2020: Construction firms must place money on deposit with councils before carrying out work  https://www.irishtimes.com/business/construction/county-councils-held-close-to-300m-in-development-bonds-in-2020-1.4802220?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Fconstruction%2Fcounty-councils-held-close-to-300m-in-development-bonds-in-2020-1.4802220

 

• Construction jobs being added at a rapid pace: Confidence within the sector has surged as Omicron fears have dissipated https://www.irishexaminer.com/business/economy/arid-40807689.html

 

• Soaring building costs threaten to stall new home building, surveyors say: Rising costs said to have prompted developers to put new home building projects on hold https://www.irishtimes.com/business/construction/soaring-building-costs-threaten-to-stall-new-home-building-surveyors-say-1.4804376

 

• The Liaison Committee for the Construction Industry has announced the publication of the new Code of Practice for Tendering.  https://irishbuildingmagazine.ie/2022/02/16/liaison-committee-for-the-construction-industry-publishes-new-code-of-practice-for-tendering/ 

 

• Construction Information Services Round-up of the latest building projects under way: The Construction Information Services’ survey of upcoming residential and commercial developments across the country  https://www.businesspost.ie/commercial/construction-information-services-round-up-of-the-latest-building-projects-under-way-9372c32e

 

• Planning regulator knocks back Dublin build-to-rent curbs: Dublin City Development Plan sought to restrict rental-only apartment blocks https://www.irishtimes.com/news/ireland/irish-news/planning-regulator-knocks-back-dublin-build-to-rent-curbs-1.4803033

 

Response: 

• Developers cast doubt over Dublin City Council’s housing targets: Calls for proposed curbs on build-to-rent apartments schemes to be scrapped https://www.irishtimes.com/news/ireland/irish-news/developers-cast-doubt-over-dublin-city-council-s-housing-targets-1.4805590

 

• Traders seek €34m pay-out for Moore Street closure: Stallholders on Dublin’s Moore Street say developer Hammerson should compensate for disruption https://www.thetimes.co.uk/article/traders-seek-34m-pay-out-for-moore-street-closure-lmgg35nn6

 

• Ronan Group in fresh High Court battle over south Dublin lands: An old legal dispute between Nama appointed receivers and property developer Johnny Ronan has reignited over sale agreed SDZ lands in Cherrywood in south Dublin https://thecurrency.news/articles/74644/ronan-group-in-fresh-high-court-battle-over-south-dublin-lands/

 

• DCC calls on Ronan group to drop ‘moot’ case over Pigeon House tender: Ronan Group Real Estate launched case against council over alleged unfair bidding process for contract to develop the power station at Poolbeg into residential property and a visitor attraction https://www.businesspost.ie/legal/dcc-calls-on-ronan-group-to-drop-moot-case-over-pigeon-house-tender-a17f1234

 

• Carmelites urge city planners to rezone land for housing: Terenure College says land holdings ‘far in excess’ of secondary school’s needs https://www.irishtimes.com/news/ireland/irish-news/carmelites-urge-city-planners-to-rezone-land-for-housing-1.4805566

 

• Dawson Street redevelopment plan abandoned due to costs: Construction bill for new Royal Irish Automobile Club premises with hotel rose 51%  https://www.irishtimes.com/business/transport-and-tourism/dawson-street-redevelopment-plan-abandoned-due-to-costs-1.4803495

 

• Ronan and Fortress step up plans for €1.3bn sale of Dublin offices: Cushman & Wakefield, Knight Frank and CBRE to advise on sale of stakes https://www.irishtimes.com/business/commercial-property/ronan-and-fortress-step-up-plans-for-1-3bn-sale-of-dublin-offices-1.4803090

 

• Developer complains of limited permission for Moore Street scheme: Prospects of €500m plan being realised affected by tight timeline, says Hammerson  https://www.irishtimes.com/business/construction/developer-complains-of-limited-permission-for-moore-street-scheme-1.4804583

 

• Rezoning could allow for 5,000 homes on Clontarf Golf Club grounds: Developer proposes members move to new course on Haughey’s Abbeville estate https://www.irishtimes.com/business/commercial-property/rezoning-could-allow-for-5-000-homes-on-clontarf-golf-club-grounds-1.4804513

 

• An Bord Pleanála clears way for Leopardstown apartment scheme: Noel Smyth firm to construct 112 build-to-rent units on south Dublin site https://www.irishtimes.com/business/construction/an-bord-plean%C3%A1la-clears-way-for-leopardstown-apartment-scheme-1.4802075

 

• Cost of Spencer Dock apartments remedial works to total €46m, High Court told  https://www.breakingnews.ie/amp/ireland/cost-of-spencer-dock-apartments-remedial-works-to-total-e46m-high-court-told-1259479.html

 

• Balbriggan Community Council confirm application for judicial review of controversial Templar Place development https://www.independent.ie/regionals/dublin/fingal/balbriggan-community-council-confirm-application-for-judicial-review-of-controversial-templar-place-development-41351950.html

 

• EdgeConneX granted permission for two more data centers in Dublin: Could be last new development in Dublin for the foreseeable future amid EirGrid restrictions https://www.datacenterdynamics.com/en/news/edgeconnex-granted-permission-for-two-more-data-centers-in-dublin/

 

• Almost 8 acres Fernhill House and surrounding lands goes on the market  https://wicklownews.net/2022/02/almost-8-acres-fernhill-house-and-surrounding-lands-goes-on-the-market/

 

• Ordnance Survey to search archive for evidence of children’s burial ground at Bessborough. An Bord Pleanála: it would be ‘premature’ to permit apartments on site of the former mother and baby home before establishing presence and extent of burial ground https://www.irishexaminer.com/news/munster/arid-40811538.html

 

• Mallow housing land of 90 acres on market for €2.35m: The development land, close to the centre of the Co Cork commuter town, is zoned for both residential and amenity uses  https://www.businesspost.ie/commercial/mallow-housing-land-of-90-acres-on-market-for-eur235m-3bef7877

 

• Developer appeals decision to block 93 homes in Clonakilty: Cloncastle Development has appealed the rejection of its plans at The Miles in Clonakilty despite Irish Water warning it is not in a position to offer a water supply https://www.irishexaminer.com/news/munster/arid-40809492.html

 

• Opportunities for new Cork home developments starting to open up: Significant multi-million euro land sales in the wings at Rathcooney, near Cork city, and near Mallow Castle and town  https://www.irishexaminer.com/property/commercial/arid-40809930.html

 

• Cork developer re-lodges application for €50m Blarney housing plan: Subject to planning approval the first phase of houses should be available in Monacnapa in the first quarter of 2023 https://www.irishexaminer.com/property/developmentconstruction/arid-40810059.html

 

• Blarney Castle challenges decision to grant planning for hotel and supermarket 200 metres from castle: The case will be heard again in April. https://www.thejournal.ie/blarney-castle-planning-case-5682912-Feb2022/

 

• Glanmire site recommended for new €100m hospital: The Glanmire site, which was originally developed as a TB sanatorium in 1954, is home to an acute mental health unit, an Alzheimer’s unit, administration facilities and some Tusla operations  https://www.irishexaminer.com/news/munster/arid-40809915.html

 

• Council rejects converting city centre apartments to apart-hotel  https://www.galwaydaily.com/news/council-rejects-conversion-of-city-centre-apartments-to-apart-hotel/

 

• City Council approves plan to knock derelict buildings for apartments  https://www.galwaydaily.com/news/housing/city-council-approves-plan-to-knock-derelict-buildings-for-apartments/

 

• Developer asks An Bord Pleanála to rule on proposed Limerick housing development https://www.limerickleader.ie/news/home/745594/developer-asks-an-bord-pleanala-to-rule-on-proposed-limerick-housing-development.html

 

• Limerick school given approval to seeks tenders for new state of the art building  https://www.limerickleader.ie/news/local-news/745291/limerick-school-given-approval-to-seeks-tenders-for-new-state-of-the-art-building.html 

 

• Waterford housing: 119 affordable homes to be built on three sites – Three sites all have planning permission and will move towards construction once contracts are finalised between the council and developers https://www.irishexaminer.com/news/munster/arid-40810329.html

 

• Augustinian church and school site in New Ross selling for €150,000: Appeal made for housing on historic Augustinian Church 1.24ac site https://m.independent.ie/regionals/wexford/news/augustinian-church-and-school-site-in-new-ross-selling-for-150000-41351101.html

 

• Supreme Court dismisses appeal against €140m Glanbia cheese plant in Co Kilkenny: Court says environmental directive should not be ‘conscripted’ into fight against climate change  https://www.irishtimes.com/news/crime-and-law/courts/supreme-court/supreme-court-dismisses-appeal-against-140m-glanbia-cheese-plant-in-co-kilkenny-1.4804071

 

• Planning permission refused for ambitious Longford glamping tourism development  https://www.longfordleader.ie/news/home/746822/planning-permission-refused-for-ambitious-longford-glamping-tourism-development.html

 

• Council refuses permission for housing development in Tullamore  https://www.offalyexpress.ie/news/home/744932/council-refuses-permission-for-housing-development-in-tullamore.html

 

• Drogheda land bank of almost 36 acres comes to market: The site at Boyne Road belongs to industrial firm Premier Periclase and has a price tag of €4 million https://www.businesspost.ie/commercial/drogheda-land-bank-of-almost-36-acres-comes-to-market-a6f21d18

 

• Former garage and lands for sale in Roscommon town centre: The site on Circular Road is set on 2.54 acres in an area with substantial mixed use development potential https://www.businesspost.ie/commercial/former-garage-and-lands-for-sale-in-roscommon-town-centre-0410e46a

 

• Hotelier in Johnstown Estate container dispute seeks retention permission from An Bord Pleanála: Barry English, the owner of the four-star hotel, has appealed an order to remove containers blocking lodges on its grounds  https://www.businesspost.ie/Planning/hotelier-in-johnstown-estate-container-dispute-seeks-retention-permission-from-an-bord-pleanala-350ae7b1

 

• Developer Collins’s firm Remcoll sells €21.9m worth of property: Other companies in the Remcoll group have won contracts with the Department of Justice for direct provision and emergency reception centres around the country https://www.businesspost.ie/news/developer-collinss-firm-remcoll-sells-eur219m-worth-of-property-16f2894d

 

• London-based private equity firm Exponent has agreed to acquire a majority stake in Limerick-headquartered H&MV Engineering, a specialist in high voltage electrical engineering: https://www.irishtimes.com/business/energy-and-resources/private-equity-firm-buys-majority-stake-in-h-mv-engineering-1.4801787  

 

• Estonians will recoup €2.5m from Irish firm: Examiner’s scheme for Limerick company is sanctioned by court   https://m.independent.ie/business/irish/estonians-will-recoup-25m-from-irish-firm-41343429.html

 

• Judge urges ‘peace to break out’ in dispute between brothers over business | BreakingNews.ie https://www.breakingnews.ie/ireland/judge-urges-peace-to-break-out-in-dispute-between-brothers-over-business-1258403.html

 

• 150 jobs announced as Limerick engineering company comes under new ownership  https://www.live95fm.ie/news/live95-news/private-equity-firm-buys-major-stake-in-limerick-engineering-company/

 

• Chadwicks unveils upgraded Coolock branch | Irish Building Magazine.ie https://irishbuildingmagazine.ie/2022/02/18/chadwicks-unveils-upgraded-coolock-branch/

 

• Revenues rise at Kingspan as it buys Ondura in €550m deal: Kingspan says the acquisition will increase earnings by approximately 7% annually https://www.irishtimes.com/business/construction/revenues-rise-at-kingspan-as-it-buys-ondura-in-550m-deal-1.4805973

 

• Harcourt’s veteran boss Pat Doherty steers group through choppy waters: While profitable, group faces up to prospect that it may need to sell shopping centres https://www.thetimes.co.uk/article/harcourts-veteran-boss-pat-doherty-steers-group-through-choppy-waters-q32xcnq97 

 

• Builder awarded €966 for unfair dismissal after breaking co-worker’s nose: Workplace Relations Commission ruled employer ‘failed to apply any procedures’  https://www.irishtimes.com/news/crime-and-law/builder-awarded-966-for-unfair-dismissal-after-breaking-co-worker-s-nose-1.4806052

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2022 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: *https://prop-tech.ie/register/ * and email product or service details to hello@prop-tech.ie.

 

• Has your proptech product or service excelled in what has been an extremely challenging year for the property sector? *Nominations for the National Property Awards 2022 are now open!* The Proptech Award, sponsored by Proptech Ireland, aims to reward industry innovation and impact. Apply now  👉https://www.nationalpropertyawards.ie/proptech-nomination-category-criteria/

 

• Proptech Ireland: Proptech Delivering ESG Solutions – The technologies underpinning the theory and an introduction to some leading Ireland-based providers https://prop-tech.ie/proptech-ireland-proptech-delivering-esg-solutions/

 

• DFI Consulting is to launch a platform aimed at speeding up the conveyancing process in residential sales deals. The new system could shave as much as two months off the time it takes to get a house purchase over the line once it goes “sale agreed” https://m.independent.ie/business/new-platform-aims-to-speed-up-conveyancing-process-41361470.html

 

•  “Robotic Construction Can Help Us Design Better Buildings” https://www.archdaily.com/976735/robotic-construction-can-help-us-design-better-buildings-an-interview-with-hannah https://www.archdaily.com/976735/robotic-construction-can-help-us-design-better-buildings-an-interview-with-hannah

 

• Spain’s Cellnex plans 80pc coverage for its IoT network in Ireland  https://m.independent.ie/business/irish/spains-cellnex-plans-80pc-coverage-for-its-iot-network-in-ireland-41350838.html

 

• Blockchain, AI, the metaverse and fintech amongst the biggest real estate tech trends to watch in 2022 https://www.forbes.com/sites/forbesbusinesscouncil/2022/02/16/the-biggest-real-estate-tech-trends-to-watch-in-2022/?sh=481e78e92925

 

• PlaceTech | 10 startups solving ‘most pressing needs’ in real estate https://placetech.net/products/10-startups-solving-most-pressing-needs-in-real-estate/

 

• Fintech Roundup: Proptech’s roller coaster, an ex-Better.com exec’s new gig and Alchemy’s true valuation jump  https://techcrunch.com/2022/02/13/fintech-roundup-proptechs-roller-coaster-an-ex-better-exec-lands-a-new-role-and-alchemys-valuation-jump/

 

• Rental fraud begone! New technology set to revolutionise PRS  https://www.propertyinvestortoday.co.uk/breaking-news/2022/2/rental-fraud-begone-new-technology-set-to-revolutionise-prs

 

• UK platform scoops up $7.25 million to make renting more flexible and accessible: UK prop tech company Lavanda has raised $7.25 million  https://tech.eu/2022/02/17/uk-platform-scoops-up-725-million-to-make-renting-more-flexible-and-accessible/

 

• Fifth Wall raises €140m for European proptech fund  https://realassets.ipe.com/news/fifth-wall-raises-140m-for-european-proptech-fund/10058103.article

 

• PROPTECH: Teclet and TDS combine to offers faster tenancy deposits: Platforms say the realise how tiresome agents find tenancy deposit protection, and say they’ve found a solution. https://thenegotiator.co.uk/proptech-teclet-and-tds-combine-to-offers-faster-tenancy-deposits/

 

• Australian PropTech bid to break into UK property market  https://www.estateagenttoday.co.uk/breaking-news/2022/2/australian-proptech-bid-to-break-into-uk-property-market

 

• With $113M to spend, Casavo plans to quintuple its transaction volume in Spain this year – AIM Group https://aimgroup.com/2022/02/18/with-113m-to-spend-casavo-plans-to-quintuple-its-transaction-volume-in-spain-this-year/

 

• Five ways proptech is changing how we live: Tech in real estate is redefining how people live, work and invest https://www.protocol.com/manuals/proptechs-big-moment/real-estate-proptech-trends

 

• Tech-enabled homebuilder Homebound raises $75M Series C led by Khosla  https://techcrunch-com.cdn.ampproject.org/c/s/techcrunch.com/2022/02/15/homebound-raises-75m-in-khosla-led-series-c/amp/

 

• PlaceTech | Institutions compete for first mover advantage in Asian proptech https://placetech.net/news/institutions-compete-for-first-mover-advantage-in-asian-proptech/

 

• How Zillow’s ibuyer scheme lost $881 million  https://fullstackeconomics.com/why-zillow-is-like-my-bad-fantasy-football-team/

 

• Nomad raises $20m to promote long-term rental revenue – FinLedger https://finledger.com/2022/02/17/nomad-raises-20m-to-promote-long-term-rental-revenue/

 

• PropHero, an Australian proptech venture providing “next gen” buyer’s agent services, raised $1.6m for its data-driven property investment platform  https://finledger.com/2022/02/18/prophero-raised-1-6m-for-its-data-driven-property-investment-platform/

 

• ICON raises $185M in Tiger-led round to build more homes with its 3D printing tech, now approaching $2B valuation  https://techcrunch.com/2022/02/18/icon-raises-185m-in-tiger-global-led-round-at-a-2b-valuation-to-build-more-homes-with-its-3d-printing-technology/

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• Multifamily sector is a rising star for investors: A record €97 billion was invested across Europe in the sector, a 50 per cent increase on the previous year, with €7 billion of that investment in Ireland  https://www.businesspost.ie/commercial/multifamily-sector-is-a-rising-star-for-investors-76c35c36

 

• Research claims first-time buyers not being squeezed out by big investors: Analysis of CSO figures shows owner-occupiers bought nearly half of homes that changed hands last year https://www.businesspost.ie/commercial/research-claims-first-time-buyers-not-being-squeezed-out-by-big-investors-b17187a2

 

• Clare Connolly’s “All Under One Roof” Facebook live series returns on 25th February at 11am: Register and send in your questions as early as possible: https://fb.me/e/50505zcMK 

 

• Kilkenny County Council are offering local households the opportunity to step foot on the property ladder by purchasing newly-built homes at a substantial discount under the Incremental Purchase Scheme.  https://www.kilkennypeople.ie/news/local-news/747021/six-properties-for-sale-at-substantial-discount-in-kilkenny-under-new-scheme.html

 

• Will the price of Irish houses just keep on rising? Cliff Taylor: key policy challenge is to provide a supply of homes at more affordable prices https://www.irishtimes.com/business/economy/will-the-price-of-irish-houses-just-keep-on-rising-1.4805188

 

• €500,000 price tag for ‘average’ Dublin property: Property price inflation surges to pandemic high of 14.4% amid supply squeeze https://www.irishtimes.com/business/economy/500-000-price-tag-for-average-dublin-property-1.4804058

 

• Annual home price growth hits 14.4%, highest level in six years – CSO  https://www.rte.ie/news/business/2022/0216/1281161-cso-residential-property-prices/

 

• Another route to housing: The long and complex process of restoring properties https://www.irishexaminer.com/news/spotlight/arid-40807866.html

 

• ‘Shopping around’ is not an option for tenants facing €1,800 rent hike: As most parts of the country are not covered by rent caps, this is one area where the Government can actually intervene to reduce the cost of living https://www.irishexaminer.com/opinion/commentanalysis/arid-40806738.html

 

• Focus Ireland urges government to help ‘generation rent’, criticises priority for landlords  https://www.longfordleader.ie/news/property/745754/focus-ireland-urges-government-to-help-generation-rent-criticises-priority-for-landlords.html

 

• Ulster Bank sets final deadline for those with new-build mortgage approval to complete drawdown  https://m.independent.ie/business/personal-finance/property-mortgages/ulster-bank-sets-final-deadline-for-those-with-new-build-mortgage-approval-to-complete-drawdown-41352899.html

 

• The new retrofitting scheme must move fast to make any kind of difference  https://www.thejournal.ie/readme/irish-government-retrofit-5686605-Feb2022/

 

• Can you beat rising energy costs by generating your own power? Selling electricity back to the grid sounds like a bright idea but the costs may not add up https://www.irishtimes.com/life-and-style/homes-and-property/can-you-beat-rising-energy-costs-by-generating-your-own-power-1.4805358

 

• Council confirms details of fire safety inspections at Limerick apartment complexes  https://www.limerickleader.ie/news/local-news/743864/council-confirms-details-of-fire-safety-inspections-at-limerick-apartment-complexes.html

 

• Nuns proceed with plan to offer classrooms to tenants  https://www.rte.ie/news/primetime/2022/0218/1281548-new-ross-wexford-classroom-rental-tenants/

 

• Healy-Rae rolls dice to pick up more houses: He is now the proud owner of 23 separate parcels of property, including his family home, business premises and farmland https://www.thetimes.co.uk/article/healy-rae-rolls-dice-to-pick-up-more-houses-bqsdhkrs7

 

• Farmhouse with €50,000 AMV is cheapest lot at live stream auction: First O’Donnellan & Joyce online auction will feature nearly 30 properties across the country to interest both homeowners and investors https://www.businesspost.ie/commercial/farmhouse-with-eur50000-amv-is-cheapest-lot-at-live-stream-auction-e5d1a3fd

 

• On the Market: your weekly guide to homes for sale around the country https://www.businesspost.ie/residential/on-the-market-your-weekly-guide-to-homes-for-sale-around-the-country-f8dfc095

 

• Skellig views or city living? What a €400k+ property budget buys in Cork, Kerry, Longford and Limerick – We scan buys from urban living to some of the best views on the island https://www.irishexaminer.com/property/residential/arid-40808523.html

 

• Home of the Year: Take a peek inside last night’s gorgeous homes  https://www.rte.ie/lifestyle/living/2022/0215/1280955-home-of-the-year-take-a-peek-inside-last-nights-gorgeous-homes/ (pictured)

 

• From ‘diehard fan’ to becoming Dermot Bannon’s co-star: Room to Improve’s quantity surveyor Claire Irwin shares the story of her own home renovation and filming the hit TV series  https://www.irishexaminer.com/property/homeandgardens/arid-40811637.html

 

• Nine homes with offices, within commuting distance of Dublin, starting at €190k: These properties within the Dublin commuter belt have space for an office https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/nine-homes-with-offices-within-commuting-distance-of-dublin-starting-at-190k-1.4804158

 

• Closing the book on open-plan living: Two years of living and working at home have honed clients’ understanding of what kind of space they really need in their house  https://www.businesspost.ie/design/closing-the-book-on-open-plan-living-f1446832

 

• Dermot Bannon – less focus on ‘super cool’ homes as people now prioritise comfort and warmth: The Room to Improve host speaks to The Journal ahead of the new TV show season airing tonight.  https://www.thejournal.ie/dermot-bannon-interview-room-to-improve-5685585-Feb2022/?amp=1

 

• Ask the designer: How can I redecorate my home in a sustainable manner? Good health and wellbeing start at home and can be greatly improved by designing a healthy home https://www.businesspost.ie/design/ask-the-designer-how-can-i-redecorate-my-home-in-a-sustainable-manner-e997c970

 

• Trees from above: meet the man breathing new life into garden design: Landscape architect Thijs Dolders is a firm believer that roof gardens add immeasurably to the liveability of cities https://www.businesspost.ie/design/trees-from-above-meet-the-man-breathing-new-life-into-garden-design-215fa33f

 

 

 

COMMERCIAL PROPERTY NEWS

• Values and rents for industrial and logistics units will continue to climb this year, while the outlook for offices and retail has also improved: These are among the forecasts in the Commercial Property Review and Outlook 2022 https://m.independent.ie/business/commercial-property/property-professionals-expect-industrials-to-outperform-other-sectors-41353836.html

 

• Take-up of industrial and logistics space in Dublin was down 31% last year compared to 2020: Report from Savills Ireland reveals a total take-up of 2.3m sq ft, 20% below the five-year average. Just 79 transactions were completed, the lowest level on record https://www.rte.ie/news/business/2022/0218/1281658-take-up-of-industrial-logistics-space-in-dublin-drops/

 

• Can demand for office space withstand the move to hybrid working? With workers slowly returning to the office, the future looks uncertain https://www.irishtimes.com/business/commercial-property/can-demand-for-office-space-withstand-the-move-to-hybrid-working-1.4797271

 

• Apollo Global Management, an American private equity firm, is thought to be asking €80 million for the 120-bedroom hotel, which also includes the Hard Rock shop and Zampas restaurant at ground floor level. https://www.thetimes.co.uk/article/apollo-hoping-to-hit-high-notes-with-hard-rock-sale-ncjw3zbqc (pictured)

 

• French investor in €23.5m deal for Dublin city office block: Corum Asset Management has acquired the Marshalsea Building in D8 https://www.irishtimes.com/business/commercial-property/french-investor-in-23-5m-deal-for-dublin-city-office-block-1.4801797

 

• Byrne Wallace Dublin headquarter offices for sale at €45m: Blue-chip law firm occupies 87-88 Harcourt Street on 25-year lease from November 2003 https://www.irishtimes.com/business/commercial-property/byrne-wallace-dublin-headquarter-offices-for-sale-at-45m-1.4801902

 

• McKillen jnr’s Oakmount seeking €14.75m for Dublin 8 offices: Sixty-One Thomas Street blends original 17th-century features with contemporary design https://www.irishtimes.com/business/commercial-property/mckillen-jnr-s-oakmount-seeking-14-75m-for-dublin-8-offices-1.4802775

 

• Oakmount offering a 5pc yield for mixed-use Liberties landmark property https://m.independent.ie/business/commercial-property/oakmount-offering-a-5pc-yield-for-mixed-use-liberties-landmark-property-41353840.html

 

• Mixed-use block on Thomas Street on sale for €14.75 million: No 61 is next door to Vicar Street in Dublin 8 and has four fully let floors of Grade A office accommodation with John’s Bar and Haberdashery located on the ground floor https://www.businesspost.ie/commercial/mixed-use-block-on-thomas-street-on-sale-for-eur1475-million-960efc89

 

• The cloud software company ServiceNow looks set to at least double its workforce in Ireland to 900 employees as it expands its office space in Dublin city centre.  https://www.thetimes.co.uk/article/servicenow-to-double-its-irish-staff-3prsll3lv

 

• Live over the shop in the Liberties for €650,000: Commercial unit with two flats overhead has potential for home and income https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/live-over-the-shop-in-the-liberties-for-650-000-1.4802877

 

• Bargaintown owners win order requiring property to be vacated: Court hears of correspondence containing ‘thumb prints in a red liquid’ https://www.irishtimes.com/business/commercial-property/bargaintown-owners-win-order-requiring-property-to-be-vacated-1.4804260

 

• Ireland’s ‘largest’ speculatively built logistics facility available to let: Palm Capital brings second building at Greenogue Logistics Park to the market https://www.irishtimes.com/business/commercial-property/ireland-s-largest-speculatively-built-logistics-facility-available-to-let-1.4801808

 

• Harcourt mulls plan for sale of shopping centre portfolio:  Harcourt’s main lender Apollo Global Management has retained agents JLL to advise on its strategy for the assets, including a possible consensual sale of the centres, individually or as a portfolio. https://www.thetimes.co.uk/article/harcourt-mulls-plan-for-sale-of-shopping-centre-portfolio-62p6qbcs8

 

• McCabe receives approval for new Cork cafe and bar: Go ahead for the conversion of two city centre locations https://www.irishexaminer.com/property/developmentconstruction/arid-40810035.html

 

• Republic of Work eyes expansion as it nears full occupancy: Cork-based co-working hub benefiting from companies looking at hybrid options for staff https://www.irishtimes.com/business/technology/republic-of-work-eyes-expansion-as-it-nears-full-occupancy-1.4805217

 

• Bonham Quay set to welcome first office workers in less than three months  https://connachttribune.ie/bonham-quay-set-to-welcome-first-office-workers-in-less-than-three-months/

 

• Kilkenny High Street premises seeks planning to change shopfront https://www.kilkennypeople.ie/news/newsletter-kilkennypeople/742212/kilkenny-high-street-premises-seeks-planning-to-change-shopfront.html

 

• Gucci to open new store in Queen’s Arcade in Belfast: The boutique will specialise in the brand’s watches and jewellery https://www.businesspost.ie/commercial/gucci-to-open-new-store-in-queens-arcade-in-belfast-cdfdc4d2

 

• Ready-to-go industrial facilities in Dundalk for €11.25m: The two buildings have been brought to market by Horseware Ireland through selling agent CBRE https://www.businesspost.ie/commercial/ready-to-go-industrial-facilities-in-dundalk-for-eur1125m-d99c129b

 

• FBD Hotels & Resorts acquires Killashee Hotel for €25m: Four-star hotel with 141 bedrooms is located between Naas and Kilcullen in Co Kildare https://www.irishtimes.com/business/commercial-property/fbd-hotels-resorts-acquires-killashee-hotel-for-25m-1.4801760

 

• Stepping foot in an actual office for the first time in almost two years feels surreal — even though I quit a decade ago: I’m reminded of just what I miss  https://www.thetimes.co.uk/article/stepping-foot-in-an-actual-office-for-the-first-time-in-almost-two-years-feels-surreal-even-though-i-quit-a-decade-ago-r0nt3qb6l

 

INTERNATIONAL PROPERTY NEWS

• UK needs 230,000 new rental homes to meet growing demand https://www.theguardian.com/business/2022/feb/14/uk-needs-230000-rental-homes-meet-demand (pictured) 

 

• BAM UK profit rebounds as orders surge https://www.constructionenquirer.com/2022/02/17/bam-uk-profit-rebounds-as-orders-surge/

 

• Worker shortage jeopardises Spain’s EU-funded recovery plan:  When Spain’s decade-long housing boom spectacularly bust in 2008, some 1.8 million jobs vanished and a nation littered with cranes and building sites slid into brutal recession. Now those construction workers are urgently needed back: an unprecedented labour shortage is jeopardising multi-billion euro building and renovation projects funded by the European Union to help Spain’s economy recover from COVID-19. https://www.euronews.com/next/2022/02/17/spain-construction-europe

 

FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS

Crowd-sourcing answers topical property questions:    

 

As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) was rebranded in 2018 and now appears as part of The Property Insider series, published by Oak Tree Press, the first three titles are now published and available here: https://www.amazon.com/Carol-Tallon/

 

From 2020, the publishers and I wanted to ensure the content remains topical and we are now doing this by crowd-sourcing home buyer and investor queries, with crowd-sourced and editorial team answers. 

 

Join the Facebook Group here to contribute: https://www.facebook.com/groups/IrishPropertyBuyers/