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

 

Message from PJ Rudden: Calling all Irish construction SMEs, please sign up with the Government-appointed CSG Innovation & Digital Adoption body, which will be resourcing firms identify and overcome challenges to critical digitisation. Link here: http://eepurl.com/hDFYfL

 

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: 

 

• The situation is a little more nuanced than portrayed in the following article (the State knows that delivery is largely dependent upon the private sector), however, we certainly need more political bravery than we are seeing right now… ‘Cairn Homes chief: Ireland is a country that doesn’t support builders’: Senior members of IIP accused department of ‘locking out’ prospective homeowners from market and not supporting builders  https://www.businesspost.ie/houses/cairn-homes-chief-ireland-is-a-country-that-doesnt-support-builders-687cb074

 

• And the counterbalance by Michael Clifford: Developers are not and never were the  custodians of common good: Will politicians ever grasp that long painful experience has shown this is simply not the case  https://www.irishexaminer.com/opinion/columnists/arid-40343741.html?type=amp

 

• Publication of new Government housing policy delayed: Housing for All framework, which will shape future policies, was to be published next week https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/news/ireland/irish-news/publication-of-new-government-housing-policy-delayed-1.4627800?mode=amp

 

• Cliff Taylor: Has Government just got the jitters about its big housing plan? Publication has been delayed by a Coalition that knows it has only one shot at this one  https://www.irishtimes.com/opinion/cliff-taylor-has-government-just-got-the-jitters-about-its-big-housing-plan-1.4628647?mode=amp

 

• Housing crisis can be fixed, but it won’t be quick and it will be painful: As a society, we must be prepared to carry and share the financial burden. And we need to do it quickly https://www.irishexaminer.com/business/economy/arid-40339955.html

 

• Land Development Agency budget will be doubled to €2.5bn: The agency has also been given extra powers to acquire state-owned land under a new ten-year ‘Housing for All’ strategy, which will be published later next month https://www.businesspost.ie/houses/land-development-agency-budget-will-be-doubled-to-eur25bn-743ee227

 

• Chambers Ireland calls for expansion of Living City initiative in Budget 2022: Lobby group says Budget 2022 must support urban recovery and tackle commercial vacancies https://m.independent.ie/business/budget/chambers-ireland-calls-for-expansion-of-living-city-initiative-in-budget-2022-40665697.html

 

• Ex-head of vulture fund denies model’s claims of sex abuse https://m.independent.ie/irish-news/ex-head-of-vulture-fund-denies-models-claims-of-sex-abuse-40674491.html

 

• Ireland and Iceland set to connect via digital bridge  https://www.thetimes.co.uk/article/ireland-iceland-connect-digital-bridge-underwater-cables-g3k35vpwq

 

• DHL aims to deploy longer distance drones to beat stretched supply lines https://www.breakingnews.ie/business/dhl-aims-to-deploy-longer-distance-drones-to-beat-stretched-supply-lines-1160179.html

 

• Davy review finds high levels of staff dealing: Independent report cites conflict of interest risks and recommends tighter controls  https://www.irishtimes.com/business/financial-services/davy-review-finds-high-levels-of-staff-dealing-1.4627606?mode=amp

 

• With State isolated on global corporation tax changes, Paschal Donohoe launches public ‘consultation’: Ireland has refused to sign up for tax deal agreed by 131 countries  https://m.independent.ie/business/budget/with-state-isolated-on-global-corporationtax-changes-paschal-donohoe-launches-public-consultation-40674749.html

 

• Fantastic story, combining property investing, community spirit and keeping the local watering hole open! ‘Villagers front up €12,000 each to purchase their local pub’ https://extra.ie/2021/07/18/must-see/villagers-front-up-e12000-each-to-purchase-their-local-pub 

 

• The incredible legacy of Herbert Simms, who helped transform Dublin: Donal Fallon describes the impact the Dublin Corporation architect Herbert Simms had on Dublin city. https://www.thejournal.ie/readme/donal-fallon-herbert-simms-dublin-legacy-5501108-Jul2021/

 

• Less desk space, more chat space: welcome to the post-pandemic office  https://www.thetimes.co.uk/article/less-desk-space-more-chat-space-welcome-to-the-post-pandemic-office-mnr8cxkxp

 

• Ireland opens public consultation on OECD digital tax proposals | International Tax Review https://www.internationaltaxreview.com/article/b1stt6sl6f1vsh/ireland-opens-public-consultation-on-oecd-digital-tax-proposals

 

 

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.

On #PropertyMatters this week I was joined by Senator John Cummins, Fine Gael Spokesperson on Housing, Heritage and Local Government to discuss the Affordable Housing Bill, including cost rental, and other State measures to tackle the delivery of vital new homes across Ireland.

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

 

 

*Listen back to all shows at: https://ipropertyradio.com/property-matters/

 

Email the Property Matters team at info@propertydistrict.ie 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

 

• Best Place to Live in Ireland 2021: A map of how the counties are faring – As the closing date approaches, there are notable patterns in the 1,500+ nominations so far  https://www.irishtimes.com/life-and-style/best-place-to-live-in-ireland-2021-a-map-of-how-the-counties-are-faring-1.4627572?mode=amp

 

• Residents challenge permission for apartment development in Phibsborough https://www.breakingnews.ie/ireland/1159969-1159969.html

 

• In the shadow of giants: Living next to Dublin’s high-rise developments  https://www.irishtimes.com/life-and-style/in-the-shadow-of-giants-living-next-to-dublin-s-high-rise-developments-1.4620522?mode=amp

 

• Petition launched for new public swimming pool on whitewater rafting site: The lido is proposed to replace the €25 million rafting centre which caused massive public outcry when it was announced  https://www.dublinlive.ie/news/petition-launched-new-public-swimming-21103274

 

• Council seeking to revamp streets in Cork city centre: A new tender document has been issued seeking a design team to revamp some of the streets between South Mall and St Patrick’s Street  https://www.irishexaminer.com/news/munster/arid-40343840.html

 

• Turning the Sod on Success – Galway City Innovation District expand downtown  https://www.gov.ie/en/press-release/6ddbf-turning-the-sod-on-success-galway-city-innovation-district-expand-downtown/

 

• ‘There have been many death threats, but I’ll never stop’ – Randal Plunkett, Baron of Dunsany, on rewilding his family estate: Naturalist and film-maker Randal Plunkett, 21st Baron of Dunsany, took an unorthodox gamble when he decided to ‘rewild’ https://m.independent.ie/life/there-have-been-many-death-threats-but-ill-never-stop-randal-plunkett-baron-of-dunsany-on-rewilding-his-family-estate-40672241.html

 

• Farmers must stretch for the tape as rights of way marathon enters home straight: With only an estimated half of rights of way legally established, the November 2021 deadline before the law changes is coming too quickly for many https://www.farmersjournal.ie/farmers-must-stretch-for-the-tape-as-rights-of-way-marathon-enters-home-straight-636445

 

 

*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

 

• The SHD planning system is set to be scrapped, but how will its replacement work? After failing to ‘get things moving again’ on building sites, the fast-track SHD system is ending as the old planning system with new limits will take its place https://www.businesspost.ie/houses/housing-the-shd-planning-system-is-set-to-be-scrapped-but-how-will-its-replacement-work-72b78ddc

 

• Construction unions likely to press for 4%+ pay rise: Employers pitching at 1.6% as Labour Court seeks submissions on pay for 50,000 workers  https://www.irishtimes.com/business/construction/construction-unions-likely-to-press-for-4-pay-rise-1.4623992?mode=amp

 

• Building advice: What can we do about the soaring cost of materials? Homebuilder Kieran McCarthy says the cost of many products have been increasing steadily since late March, with many products going up 10-15% per month and rising  https://www.irishexaminer.com/property/residential/arid-40324799.html?type=amp

 

• Dublin third most expensive city in Europe for construction costs: Survey blames materials price increases of up to 40% for rising cost of building in capital https://www.irishtimes.com/business/construction/dublin-third-most-expensive-city-in-europe-for-construction-costs-1.4626876?mode=amp

 

• Consultation on new draft guidance for improving Energy Efficiency in Traditional Buildings  https://www.gov.ie/en/press-release/1ed64-consultation-on-new-draft-guidance-for-improving-energy-efficiency-in-traditional-buildings/

 

• Construction industry needs whole life carbon understanding to hit net zero – new report shows https://www.wbcsd.org/Programs/Cities-and-Mobility/Sustainable-Cities/Transforming-the-Built-Environment/Decarbonization/news/Construction-industry-needs-whole-life-carbon-understanding-to-hit-net-zero-new-report-shows

 

• Calls for a dedicated apprenticeship training facility for the construction sector were made at the July meeting of Cavan County Council.  https://www.anglocelt.ie/2021/07/23/call-for-construction-training-academy/

 

• Department meets 40% of forest licence target for 2021 so far https://www.agriland.ie/farming-news/department-meets-40-of-forest-licence-target-for-2021-so-far/

 

• Irish Water turns sod on flagship reservoir project for the Greater Dublin Area https://dublinpeople.com/news/dublin/articles/2021/07/22/irish-water-turns-sod-on-flagship-reservoir-project-for-the-greater-dublin-area/

 

• PCRE to spend €200m building out newly-acquired solar assets: Irish solar PV developer has acquired a majority stake in Terra’s 400MW portfolio  https://www.irishtimes.com/business/energy-and-resources/pcre-to-spend-200m-building-out-newly-acquired-solar-assets-1.4628565?mode=amp

 

• Highfield Solar has secured a €160m debt facility for the first two major Irish solar power projects. Work on grid connections has already commenced, and the projects will be completed in late 2022 on two 141-megawatt sites in Wexford and Meath.  https://m.independent.ie/business/irish/highfield-secures-160m-for-two-major-solar-pv-projects-40683282.html

 

• New forensic laboratory on track for completion next summer  https://www.irishlegal.com/article/new-forensic-laboratory-on-track-for-completion-next-summer

 

• Dublin TD blasts Ringsend glass bottle site plans as ‘missed opportunity’: “The lack of social housing being proposed is highly disappointing and won’t even begin to scratch the surface of the housing crisis we have in this county at the moment”  https://www.dublinlive.ie/news/dublin-td-blasts-ringsend-glass-21132263

 

• Developers plot 2,200-apartment blitz in Dublin: Property groups are preparing to submit plans for sites in Baldoyle, Ringsend and Carrickmines  https://www.thetimes.co.uk/article/developers-plot-apartment-blitz-dublin-baldoyle-ringsend-carrickmines-7g2xfchmt

 

• BAM Ireland appointed main contractor for €100m Newmarket Square development https://www.irishbuildingmagazine.ie/2021/07/22/bam-ireland-appointed-main-contractor-for-e100m-newmarket-square-development/

 

• KC Capital sees off industry heavyweights for former City Arts Centre: Developer David Kennan sees off rival offers from Johnny Ronan, Marlet, and RQTwo  https://www.irishtimes.com/business/commercial-property/kc-capital-sees-off-industry-heavyweights-for-former-city-arts-centre-1.4625737?mode=amp

 

• Way is cleared for 445 build-to-rent apartments in Stepaside: Despite more than 150 objections, fast-track scheme up to eight storeys gets go-ahead https://www.irishtimes.com/business/commercial-property/way-is-cleared-for-445-build-to-rent-apartments-in-stepaside-1.4625007?mode=amp

 

• Plan for 411-home Auburn House development in Malahide rejected: An Bord Pleanála says proposal would adversely impact character of heritage property https://www.irishtimes.com/business/construction/plan-for-411-home-auburn-house-development-in-malahide-rejected-1.4626536?mode=amp

 

• Concerns over plans for Dublin’s tallest apartment block: Proposed building is taller than one refused planning permission on same site last year https://www.irishtimes.com/news/environment/concerns-over-plans-for-dublin-s-tallest-apartment-block-1.4625090?mode=amp

 

• Planning permission has been granted for a 255 residential unit strategic housing development in south Dublin, which will include the Victorian-era Kylemore House  https://www.thetimes.co.uk/article/dublin-development-for-255-homes-wins-planning-permission-lkrsngcgb

 

• AROUND 250 construction and supply jobs will be created during the multi-million euro Cork Airport Runway Reconstruction project.  https://www.southernstar.ie/business/government-will-commit-e10m-to-airport-runway-4226873

 

• Fresh proposals for Cork student development to rent rooms to tourists  https://www.echolive.ie/corknews/arid-40344290.html

 

• ‘This is a big public investment in Cork city’: Contract awarded for design of redevelopment of Cork’s Crawford Art Gallery  https://www.echolive.ie/corknews/arid-40343753.html

 

• Planning application made for 102 homes in Rosshill  https://www.galwaydaily.com/news/housing/planning-application-made-for-102-homes-in-rosshill/

 

• Losses increase to €42.62m at Glen Dimplex Dublin unit after restructuring charge: The company recorded an operating loss of €10.2m for 2020, which was an increase of 23% on the 2019 loss of €8.3m  https://www.irishtimes.com/business/manufacturing/losses-increase-to-42-62m-at-glen-dimplex-dublin-unit-after-restructuring-charge-1.4624906?mode=amp

 

• IS YOUR CONSTRUCTION COMPANY DOING ENOUGH TO ATTRACT THE RIGHT JOB CANDIDATES? https://constructionnews.ie/irish-construction-jobs-tips/

 

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

• Proptech Ireland is updating the database of 2021 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 * 

 

• Online property platform Lintil offers one-stop shop for homebuying: Emmet Creighton aims to make purchase easier and secure cheaper professional fees https://www.irishtimes.com/business/economy/online-property-platform-lintil-offers-one-stop-shop-for-homebuying-1.4624019?mode=amp

 

• Well done Healy and all the beagel team! Local property start up selected for US accelerator programme | Westmeath Independent https://www.westmeathindependent.ie/2021/07/18/local-property-start-up-selected-for-us-accelerator-programme/

 

• Firms team up to launch new system that can manage occupancy rates in shops and offices: Tapadoo and Redzone invest €150,000 in building TruCount to cater for broader reopening measures across country https://www.businesspost.ie/tech/firms-team-up-to-launch-new-system-that-can-manage-occupancy-rates-in-shops-and-offices-50dfaaa3

 

• Originally designed for the construction sector, Augmented reality tech firm plans new funding round a year after raising €5m https://www.businesspost.ie/making-it-work/making-it-work-augmented-reality-tech-firm-plans-new-funding-round-a-year-after-raising-eur5m-f1cbfe0e

 

• The arrival of ‘Behavioural Search’ is set to revolutionise the rental property space and make finding the right property even easier and more rewarding for ‘Generation Rent’ https://www.iol.co.za/technology/this-proptech-platform-wants-to-help-you-find-your-next-property-b59871dd-c4ed-491b-8e44-81a1d6af4733

 

• Proptech Funding Is Surging, With Construction And Property Management Leading The Pack https://news.crunchbase.com/news/proptech-funding-construction-property-management/

 

• The latest Sifted report on Construction Tech has just landed! Learn more about the startups that are rebuilding the foundations of Europe’s €2tn construction industry, one of the least digitalised in Europe https://sifted.eu/intelligence/reports

 

• Using data to unlock the full potential of smarter construction: The construction industry has joined the great data race. https://www.theconstructionindex.co.uk/news/view/using-data-to-unlock-the-full-potential-of-smarter-construction?amp=1

 

• Offsite Expo: A masterclass in advanced building technology https://www.pbctoday.co.uk/news/mmc-news/offsite-expo-building-technology/96438/

 

• SOSV partners explain how deep tech startups can fundraise successfully  https://techcrunch.com/2021/07/23/sosv-partners-explain-how-deep-tech-startups-can-fundraise-successfully/

 

• Sundae, a residential real estate marketplace that pairs sellers of dated or damaged property with potential buyers, has raised $80 million in a Series C funding round co-led by Fifth Wall and General Global Capital  https://techcrunch-com.cdn.ampproject.org/c/s/techcrunch.com/2021/07/20/sundae-closes-on-80m-for-residential-real-estate-marketplace/amp/

 

• i80 Group has quietly committed $1B in credit to the fintech and proptech worlds | TechCrunch https://techcrunch.com/2021/07/21/i80-group-1b-in-credit/

 

• Sequoia-backed proptech startup Brick&Bolt is bringing technology and transparency to housing projects https://yourstory.com/2021/07/sequoia-surge-proptech-startup-brickbolt-construction-housing/amp

 

• Bright Spaces has raised EUR1.5 million in a seed funding round led by French VC Axeleo Capital, with participation from Pi Labs, Sparking Capital, Growceanu and a group of international angels. http://www.propertyfundsworld.com/2021/07/21/303895/proptech-bright-spaces-raises-eur15m-seed-funding-round

 

• Proptech startup PriceHubble pockets $34M Series B | PitchBook https://pitchbook.com/newsletter/proptech-startup-pricehubble-pockets-34m-series-b

 

• Commercial real estate lending startup Lev brings in $30M on a $130M valuation https://techcrunch.com/2021/07/20/commercial-real-estate-lending-startup-lev-brings-in-30m-on-a-130m-valuation/

 

• JLL, Khosla lead Jones’ $12.5M Series A for real estate vendor compliance https://techcrunch.com/2021/07/19/jll-khosla-lead-jones-12-5m-series-a-for-real-estate-vendor-compliance/

 

• 4 trends that will dominate Hong Kong’s post-pandemic start-up scene, according to experts at StartmeupHK Festival | South China Morning Post https://www.scmp.com/presented/business/topics/future-unlimited/article/3140732/4-trends-dominate-hong-kong-start-up

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• Covid-19 and housing crisis drive demand for better rental properties: While draw of home ownership remains strong, rental sector also plays crucial role https://www.irishtimes.com/business/commercial-property/covid-19-and-housing-crisis-drive-demand-for-better-rental-properties-1.4624675?mode=amp

 

• Ireland short 100,000 homes as ‘baby boom’ fuels huge demand https://extra.ie/2021/07/19/property/baby-boom-demand-homes/amp

 

• Council report details impact of pandemic on housing in Cork in 2020 https://www.echolive.ie/corknews/arid-40340378.html?type=amp

 

• State increasing reliance on ‘costly’ social housing leases: To date this year, 918 new social units leased, while 1,000 leased in all of 2020 https://www.irishtimes.com/business/economy/state-increasing-reliance-on-costly-social-housing-leases-1.4623972?mode=amp

 

• Government’s new ‘Housing For All’ plan delayed until at least the end of August https://www.thejournal.ie/housing-for-all-plan-delayed-5502708-Jul2021/

 

• HAP supports have ‘steepened’ the cost of renting in Ireland: KPMG report finds the Housing Assistance Payment is forcing rent prices upward and luring big international developers into the market https://www.businesspost.ie/houses/hap-supports-have-steepened-the-cost-of-renting-in-ireland-cef57d0b

 

• Loophole on evicting long-term tenants to be closed https://www.irishexaminer.com/news/arid-40339931.html?type=amp

 

• Dozens of tenants left with no deposits as upmarket rental company collapses  https://m.independent.ie/irish-news/dozens-of-tenants-left-with-nodeposits-as-upmarketrental-company-collapses-40665810.html

 

• Limerick council seeks over 55s for new ‘downsizing scheme’ https://www.limerickleader.ie/news/home/650319/limerick-council-seeks-over-55sfor-new-downsizing-scheme.html

 

• Kieran McCarthy’s Property Clinic: Get builder on board early https://www.irishexaminer.com/property/developmentconstruction/arid-40338803.html

 

• Airbnb lobbies Irish housing minister for “fair” regulations https://shorttermrentalz.com/news/airbnb-ireland-regulations-housing/

 

• Property Focus: Lismore seeing a run on large period homes – A profile of the property market of this West Waterford town https://www.irishexaminer.com/property/residential/arid-40340339.html

 

• Buy a home where the billboard, spare room or shop pays the mortgage: Hoardings can earn you up to €6,000 – or rent out a room for up to €14,000 a year tax-free  https://www.irishtimes.com/life-and-style/homes-and-property/buy-a-home-where-the-billboard-spare-room-or-shop-pays-the-mortgage-1.4622391?mode=amp

 

• Ryan W Kennihan Architects’ integration of a new family dwelling into a cluster of old buildings in Dublin opens up possibilities within traditional settings https://www.architectural-review.com/places/ireland/baltrasna-house-in-dublin-ireland-by-ryan-w-kennihan-architects

 

• Dublin City Council votes to retain local property tax cut of 15%: Reduction remains in place despite Owen Keegan warning of ‘urgent need’ for funds https://www.irishtimes.com/news/consumer/dublin-city-council-votes-to-retain-local-property-tax-cut-of-15-1.4625078?mode=amp

 

• Property & Mortgages: EBS cuts fixed rates but is still among most expensive lenders https://m.independent.ie/business/personal-finance/property-mortgages/ebs-cuts-fixed-rates-but-is-still-among-most-expensive-lenders-40666928.html

 

• Up to 100 people could be forced to leave Dublin property because their ‘lives are in danger’: The judge granted owner-landlord Mel Kilraine leave to serve short notice on the occupants.  https://www.thejournal.ie/up-to-100-people-could-be-forced-to-leave-dublin-property-because-their-lives-are-in-danger-5502920-Jul2021/

 

• Claiming expenses after tenant has left my property – Q&A; Dominic Coyle answers your personal finance questions  https://www.irishtimes.com/business/personal-finance/claiming-expenses-after-tenant-has-left-my-property-1.4624833?mode=amp

 

• Revenue to send estimated property tax bills to 1.7 million homes: Revenue to base new property tax calculations on average values of dwellings in areas of up to 100 homes  https://www.businesspost.ie/tax/revenue-to-send-estimated-property-tax-bills-to-17-million-homes-8f6a934e

 

• Irish homeowners spent €11bn on renovations during pandemic: Research by insurer Aviva suggests as many as 1.5m people carried out work over the year https://www.irishtimes.com/business/construction/irish-homeowners-spent-11bn-on-renovations-during-pandemic-1.4625641?mode=amp

 

• Castle home with links to Tom Waits, Simple Minds and JM Synge for €550,000: Glanmore Castle, outside Ashford, Co Wicklow, has direct access to Coillte-run Devil’s Glen forest https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/castle-home-with-links-to-tom-waits-simple-minds-and-jm-synge-for-550-000-1.4622531?mode=amp

 

• How Period Door Properties ended up out of pocket: What really went on behind the doors at the subletter? https://www.thetimes.co.uk/article/how-period-door-properties-ended-up-out-of-pocket-tf5fjc8b0

 

• The pros, cons and process of installing solar thermal panels : We shine a light on the pros, cons and process of installing solar thermal panels as an alternative to trending solar PV panels https://www.irishexaminer.com/property/homeandoutdoors/arid-40340561.html?type=amp

 

 

 

COMMERCIAL PROPERTY NEWS

 

• M7 Real Estate secures four new lettings across Dublin warehouse portfolio: Pan European investor adds HSE, Screwfix, Clevamama and CIS to tenant line-up  https://www.irishtimes.com/business/commercial-property/m7-real-estate-secures-four-new-lettings-across-dublin-warehouse-portfolio-1.4615095?mode=amp

 

• Park Developments has agreed the sale of a portfolio of prime logistics units at Northwest Logistics Park to a fund managed by Savills Investment Management (Savills IM) for a price in the region of EUR47.9 million. https://www.propertyfundsworld.com/2021/07/22/303929/park-developments-sells-dublin-logistics-portfolio-eur479m

 

• Parliament House to stay in Bank of Ireland’s hands, says Paschal Donohoe https://www.thetimes.co.uk/article/parliament-house-bank-of-ireland-paschal-donohoe-f0pcc5bkd

 

• Dispute over Shelbourne Greyhound Stadium car park operation before High Court: Stadium owner wants car park to be vacated and delivered up by firm which operated it  https://www.irishtimes.com/news/crime-and-law/courts/high-court/dispute-over-shelbourne-greyhound-stadium-car-park-operation-before-high-court-1.4629068?mode=amp

 

• Profits up €5.8m at JD Sports’ main Irish company  https://m.independent.ie/business/irish/profits-up-58m-at-jd-sports-main-irish-company-40684787.html

 

• Paddy McKillen jnr agrees long-term lease on landmark Brittas Bay pub: Press Up Hospitality targets beachgoer demand for food and drink following deal for McDaniels  https://www.irishtimes.com/business/commercial-property/paddy-mckillen-jnr-agrees-long-term-lease-on-landmark-brittas-bay-pub-1.4625871?mode=amp

 

• Bausch + Lamb announces €90m expansion of its Waterford contact lens plant: The investment is expected to generate 130 additional jobs https://www.irishexaminer.com/business/companies/arid-40341926.html?type=amp

 

• Entrepreneur behind €3.50 commercial toilets in Galway plans to create toilet subscription service  https://www.joe.ie/news/entrepreneur-behind-e3-50-commercial-toilets-galway-plans-create-toilet-subscription-service-726724

 

• A bed and breakfast property at 132 Rathmines Road Lower And 1, 2 & 3 Observatory Lane, Rathmines, Dublin 6, has hit the market via Young’s Estate Agents for €3.5 million.  https://www.hospitalityireland.com/amp/hotel/bb-property-in-rathmines-dublin-6-hits-the-market-140671

 

• Notion Software selects Dublin for its EMEA headquarters: Workplace productivity platform developer to create an initial 25 jobs in the city https://www.irishtimes.com/business/technology/notion-software-selects-dublin-for-its-emea-headquarters-1.4626843?mode=amp

 

• Shopping centre delight as Liffey Valley announce opening of store Dubliners have been waiting for: The retailer was the one thing missing from the popular Dublin shopping centre https://www.dublinlive.ie/news/dublin-news/tk-maxx-liffey-valley-long-21113036

 

• Argos confirms second store closure in Limerick  https://www.limerickleader.ie/news/home/651655/argos-confirms-second-store-closure-in-limerick.html

 

• Lidl granted preliminary order for new south Mayo store https://www.con-telegraph.ie/2021/07/22/lidl-granted-preliminary-order-for-new-south-mayo-store/

 

• How do we accommodate the office of the future? Covid-19 and sustainability awareness are changing Ireland’s commercial property market https://www.businesspost.ie/property-insight/how-do-we-accommodate-the-office-of-the-future-941e1163

 

 

INTERNATIONAL PROPERTY NEWS

• UK house prices rise again amid record monthly sales  https://amp.rte.ie/amp/1235925/

 

• ‘Frenzied buyer activity’ drives UK house prices to new high: Property site Rightmove says it expects official figures to show June was busiest month ever for sales https://amp.theguardian.com/money/2021/jul/19/frenzied-buyer-activity-drives-house-prices-to-new-high

 

• UK hits record number of homes sold in a month | Housing market | The Guardian https://amp.theguardian.com/business/2021/jul/21/uk-record-houses-sold-in-a-month-stamp-duty

 

• Billionaire to build €575m Knightsbridge ‘private palace’ with ballroom and Olympic pool – Property tycoon Cheung Chung-kiu gets go-ahead to replace 45-bed London mansion  https://www.irishtimes.com/life-and-style/homes-and-property/billionaire-to-build-575m-knightsbridge-private-palace-with-ballroom-and-olympic-pool-1.4628523?mode=amp

 

• Vatican reveals it owns more than 5,000 properties: Real estate holdings published for first time show it owns 4,051 properties in Italy, 1,120 abroad  https://www.theguardian.com/world/2021/jul/24/vatican-reveals-it-owns-more-than-5000-properties

 

• ‘It’s chaos’: shutdown of NSW construction industry causes havoc: Industry says it was caught off-guard by new Covid lockdown rules and is urging government to overturn pause, warning of a $2bn blow to the economy https://www.theguardian.com/australia-news/2021/jul/20/its-chaos-shutdown-of-nsw-construction-industry-causes-havoc

 

• Tom Barrack, Former Colony Capital CEO Who Chaired Donald Trump’s Inaugural, Arrested On Illegal Lobbying Charges https://deadline.com/2021/07/tom-barrack-donald-trump-illegal-lobbying-1234796765/#origin=https%3A%2F%2Fwww.google.com%2F&cap=swipe,education&webview=1&dialog=1&viewport=natural&visibilityState=inactive&prerenderSize=1&viewerUrl=https%3A%2F%2Fwww.google.com%2Famp%2Fs%2Fdeadline-com.cdn.ampproject.org%2Fc%2Fs%2Fdeadline.com%2F2021%2F07%2Ftom-barrack-former-colony-capital-ceo-who-chaired-donald-trumps-inaugural-arrested-on-illegal-lobbying-charges-1234796765%2Famp%2F

 

• Institutions Shift Billions Into New Real Estate Sectors From Uncertain Office Market https://www.bisnow.com/national/news/capital-markets/institutional-investors-shift-billions-into-new-real-estate-sectors-as-office-market-remains-uncertain-109587

 

• Ex-WeWork boss Neumann took $2.1bn from company  https://www.thetimes.co.uk/article/ex-wework-boss-neumann-took-2-1bn-from-company-nb7z6lbql

 

• Inside David Bowie’s $17m Manhattan apartment: Late star’s Lafayette Street home, bought for $3.8m, sold five years after singer’s death https://www.irishtimes.com/life-and-style/homes-and-property/inside-david-bowie-s-17m-manhattan-apartment-1.4625587?mode=amp

 

• Housing-Starved San Francisco Fines Developer $1.2 Million For Building Too Many Units: The city approved developers’ plans for a 10-unit complex. They built 29 homes instead. Now some of those illegal units could have to be dismantled. https://reason.com/2021/07/19/housing-starved-san-francisco-fines-developer-1-2-million-for-building-too-many-units/

 

 

FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS

Crowd-sourcing answers topical property questions:    

Irish Property Buyers Handbook annuals

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/