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: 

 

 

• The Irish Times view on home ownership: a major social faultline: The model of buying a home and paying off the loan as you work towards retirement is broken – and it will have profound consequences https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-home-ownership-a-major-social-faultline-1.4610115?mode=amp

 

• 69% of people believe past governments are to blame for the current housing crises https://www.thejournal.ie/housing-polling-daragh-obrien-5477338-Jun2021/

 

• What is an ‘affordable home’? Most people put the price at between €200,000 and €299,000 https://www.thejournal.ie/affordable-housing-poll-5477459-Jun2021/

 

• ‘If I was minister for housing’ … David McWilliams’s plan for €220k homes: A site-value tax and co-operative building are among the economist’s housing crisis solutions https://www.irishtimes.com/culture/if-i-was-minister-for-housing-david-mcwilliams-s-plan-for-220k-homes-1.4606238?mode=amp

 

• Compulsory purchase is for the little people, not for St Vincent’s: Twenty years ago, the State threw its full weight behind the coercion of small landowners https://www.irishtimes.com/opinion/fintan-o-toole-compulsory-purchase-is-for-the-little-people-not-for-st-vincent-s-1.4605974?mode=amp

 

• Investment deals in Ireland top €2.2bn in first half of year https://m.independent.ie/business/commercial-property/investment-deals-in-ireland-top-22bn-in-first-half-of-year-40599881.html

 

• IFSC must adapt to keep up with the changing world of work: Dublin’s financial hub is losing out to the rest of the docks in the battle to attract companies https://www.irishtimes.com/business/commercial-property/ifsc-must-adapt-to-keep-up-with-the-changing-world-of-work-1.4605767?mode=amp

 

• Young woman says adults are ‘forced to emigrate’ as government allow Dublin rent crisis to spiral: Sorcha Murphy, who is originally from county Clare, explained her poem to Dublin Live and why she decided to write it https://www.dublinlive.ie/news/dublin-news/housing-crisis-young-people-emigration-20961109

 

• Watchdog says Louth most active county for compulsory purchase orders: National Oversight & Audit Commission says officials in Louth placed CPOs on 93 homes in the past five years for social housing https://www.businesspost.ie/Planning/watchdog-says-louth-most-active-county-for-compulsory-purchase-orders-33006e7e

 

• AIB offers €20m to Belfry property investors: Hopes are rising that settlement can be reached in High Court action by 300 investors who lost millions in the Celtic Tiger-era property scheme https://www.businesspost.ie/investing/aib-offers-eur20m-to-belfry-property-investors-22e9bb79?auth=login

 

 

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.

*Listen back to our interview with Anya Martin, housing advocate with PricedOut.org and London YIMBY, who speaks about about affordable housing, flawed policymaking, NIMBY-ism, the dangers of polarising different solution providers and the potential power of communities.

 

Watch back: https://youtu.be/vmo5JbjKC0g

 

 

 

 

*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

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

 

• Shaping urban environments to achieve sustainability | Architecture & Design https://www.architectureanddesign.com.au/features/comment/shaping-urban-environments-for-sustainability

 

• Bartra said that it was “fearful” that the O’Devaney Gardens regeneration in Dublin would follow a number of other developments which have been delayed after being challenged in court https://www.thetimes.co.uk/article/building-firm-fearful-over-legal-delays-to-odevaney-gardens-67l08qkmq

 

• Bartra to appeal decision in ‘badger’ planning row:  Broadcaster Pat Kenny confident that reversing council decision will be difficult https://www.irishtimes.com/news/environment/bartra-to-appeal-decision-in-badger-planning-row-1.4610217?mode=amp

 

• Legal challenge brought over decision to pedestrianise part of Malahide Village: The pedestrianisation aimed to facilitate outdoor dining but has led to criticism. https://www.thejournal.ie/malahide-pedestrianise-legal-challenge-5480186-Jun2021/

 

• Dún Laoghaire’s Georgian buildings complicate efforts to live over shops: Calls for revitalisation schemes to deal with town-specific structural problems https://www.irishtimes.com/news/politics/d%C3%BAn-laoghaire-s-georgian-buildings-complicate-efforts-to-live-over-shops-1.4605059?mode=amp

 

• Residents seek to overturn permisison for 482 apartments in Carrickmines | https://www.breakingnews.ie/amp/ireland/residents-seek-to-overturn-permisison-for-482-apartments-in-carrickmines-1149832.html

 

• Residents’ group fails to have planning permission overturned at Hell Fire Club https://www.irishtimes.com/news/crime-and-law/courts/high-court/residents-group-fails-to-have-planning-permission-overturned-at-hell-fire-club-1.4610057?mode=amp

 

• Luxury home owners take legal action over plan to build schools: Gated community claims part-ownership of Citywest land earmarked for development https://www.irishtimes.com/news/education/luxury-home-owners-take-legal-action-over-plan-to-build-schools-1.4605029?mode=amp

 

• Dublin residents campaign for better housing conditions https://amp.rte.ie/amp/1232125/

 

 

 

CONSTRUCTION & DEVELOPMENT NEWS

BusinessPost.ie: Three Dublin projects shortlisted by RIAI for Public Choice Awards https://www.businesspost.ie/design/three-dublin-projects-shortlisted-by-riai-for-public-choice-awards-73ced393

 

• Investment funds the main fuel to construction activity, says Savills https://www.irishexaminer.com/business/economy/arid-40327892.html?type=amp

 

• TD calls for lower VAT on materials to alleviate crippling home building prices | BreakingNews.ie https://www.breakingnews.ie/amp/ireland/td-calls-for-lower-vat-on-materials-to-alleviate-crippling-home-building-prices-1150337.html

 

• Taoiseach rules out compulsory purchase of new maternity hospital site https://www.irishexaminer.com/news/arid-40323716.html?type=amp

 

• A new model of delivery for Water Services Infrastructure https://www.irishbuildingmagazine.ie/2021/06/30/a-new-model-of-delivery-for-water-services-infrastructure/

 

• Sisk to pause introduction of alcohol and drug testing for union staff: Union accused construction firm of skirting industry-wide talks over the implementation of a policy for intoxicant testing https://www.businesspost.ie/construction/sisk-to-pause-introduction-of-alcohol-and-drug-testing-for-union-staff-146cc604

 

• The revolt at Davy Hickey: Part 1 – How staggering success turned to mistrust: For decades, Citywest developer Davy Hickey delivered multi-million returns for its high-net investors. Now as it winds down, a shareholder war has broken out. In the first of a two-part series, we examine the history of the company and the genesis of the row – Part 1: https://thecurrency.news/articles/52110/the-revolt-at-davy-hickey-part-1-how-staggering-success-turned-to-mistrust/ and Part 2: https://thecurrency.news/articles/52311/the-revolt-at-davy-hickey-part-2-lost-opportunities-huge-gains/

 

• “All reasonable searches”: Information Commissioner orders Dublin City Council to restart Ronan’s building heights FOI – RGRE has been locked in a two-year battle with DCC to try and uncover its thinking about heights and densities in key parts of Dublin https://thecurrency.news/articles/52178/all-reasonable-searches-information-commissioner-orders-dublin-city-council-to-restart-ronans-building-heights-foi/

 

• Heavy hitters eye up Marlet portfolio: Kennedy Wilson and Blackstone join forces to bid for the €1bn tranche of residential properties developed across Dublin https://www.thetimes.co.uk/article/heavy-hitters-eye-up-marlet-portfolio-jwcn6rjbk

 

• Cairn Homes to complete 2,500 homes but highlight acute lack of supply https://www.irishexaminer.com/business/companies/arid-40327271.html

 

• Planning board denies 475-apartment project in Dublin’s Whitehall: Scheme ranging in height from four to eight storeys fails to meet open-space zoning target https://www.irishtimes.com/business/construction/planning-board-denies-475-apartment-project-in-dublin-s-whitehall-1.4606043?mode=amp

 

• An Bord Pleanala approves Stoneybatter student development: Scheme will have 600 student beds, apartments, supermarket and cafes https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/an-bord-pleanala-approves-stoneybatter-student-development-1.4610012?mode=amp

 

• Glass Bottle site could set example for delivery of social, affordable homes – O’Brien: Minister says meeting of stakeholders will ‘work through financials’ https://www.irishtimes.com/news/politics/oireachtas/glass-bottle-site-could-set-example-for-delivery-of-social-affordable-homes-o-brien-1.4607240?mode=amp

 

• Ardstone Capital pays €180m for 398 Dublin rental apartments: Investment firm in forward purchase deal for Dwyer Nolan units in Santry, Finglas and Clongriffin https://www.irishtimes.com/business/commercial-property/ardstone-capital-pays-180m-for-398-dublin-rental-apartments-1.4606946?mode=amp

 

• Build-to-rent plan for Merrion Square site https://www.thetimes.co.uk/article/build-to-rent-plan-for-merrion-square-site-0sfjsr5f6

 

• Hines completes acquisition of final phase at Chatham & King: Global real estate firm agreed €165m deal for Dublin city centre mixed-use scheme in 2018 https://www.irishtimes.com/business/commercial-property/hines-completes-acquisition-of-final-phase-at-chatham-king-1.4606780?mode=amp

 

• Massive residential development up to 15 storeys high mooted for Baldoyle https://dublingazette.com/news/housing-baldoyle-government-56423/

 

• Iconic Drumcondra buildings planned for student accommodation despite local hostility: Permission was also sought for a management office, reception area, café, games room, leisure area and electrical substation https://www.dublinlive.ie/news/dublin-news/iconic-drumcondra-buildings-planned-student-20837924

 

• Grove Road site is ready to go: A prime site in Dublin 6, with planning permission for three townhouses designed by De Blacam & Meagher, is for sale for €695,000 https://www.businesspost.ie/commercial/grove-road-site-is-ready-to-go-92df5f00

 

• Residential development in Cork city given the green light  https://www.echolive.ie/corknews/arid-40324538.html

 

• Plans for new apartments at Hickeys in Cork City centre: Home and hardware store will continue trading but with the addition of 32 apartments if planning permission is granted https://www.irishexaminer.com/property/developmentconstruction/arid-40326950.html

 

• Setback for proposal for major urban regeneration project on lands adjacent to Ceannt Station  https://galwaybayfm.ie/galway-bay-fm-news-desk/setback-for-proposal-for-major-urban-regeneration-project-on-lands-adjacent-to-ceannt-station/

 

• Emergency measures used to fast-track razing of homes in Limerick estate https://www.limerickleader.ie/news/home/645856/emergency-measures-used-to-fast-track-razing-of-homes-in-limerick-estate.html

 

• First phase of Kilkenny’s Abbey Quarter scheme on course for completion: Brewhouse in historic Smithwicks building will have 50,000sq ft of grade A office space https://www.irishtimes.com/business/commercial-property/first-phase-of-kilkenny-s-abbey-quarter-scheme-on-course-for-completion-1.4605709?mode=amp

 

• Plans to transform derelict creamery in Kilkenny village into new homes rejected – Kilkenny Now – Your City. Your County. Your News. Now https://kilkennynow.ie/plans-to-transform-derelict-creamery-in-kilkenny-village-into-new-homes-rejected/

 

• Edmond Shipway has been appointed to carry out project management, cost consultancy and M&E engineering consultancy services on a planned expansion of Center Parcs’ first resort in Ireland https://www.building.co.uk/news/consultant-books-in-for-more-center-parcs-work/5112456.article

 

• Halliday Mills apartment block on Quay Street nearing completion after laying vacant for over a decade https://www.dundalkdemocrat.ie/news/news/646203/halliday-mills-apartment-block-on-quay-street-nearing-completion-after-laying-vacant-for-over-a-decade.html

 

• Prime Castlebar development site placed on property market | Connaught Telegraph https://www.con-telegraph.ie/2021/07/02/prime-castlebar-development-site-placed-on-property-market/

 

• Construction commences on IDA facility in Carlow for multi-nationals https://carlow-nationalist.ie/2021/06/28/construction-commences-on-ida-facility-in-carlow-for-multi-nationals/

 

• Revamp plans lodged for Aldi outlet in Tullow, Co Carlow https://kclr96fm.com/revamp-plans-lodged-for-aldi-outlet-in-tullow-co-carlow/

 

• Three Dublin projects shortlisted by RIAI for Public Choice Awards: The redeveloped Irish Stock Exchange building on Anglesea Street, a two-building office project on North Wall Quay, and an office and restaurant on Thomas Street are all nominated https://www.businesspost.ie/design/three-dublin-projects-shortlisted-by-riai-for-public-choice-awards-73ced393

 

• Cavan insulation company Ballytherm selling to Xtratherm: Ballytherm had revenue of €25m last year https://www.irishtimes.com/business/construction/cavan-insulation-company-ballytherm-selling-to-xtratherm-1.4607680?mode=amp

 

• Ornua gets green light for €40m extension of Cork Kerrygold hub https://m.independent.ie/business/irish/ornua-gets-green-light-for-40m-extension-of-cork-kerrygold-hub-40605980.html

 

• Housing development in Killarney granted permission | RadioKerry.ie https://www.radiokerry.ie/news/housing-development-in-killarney-granted-permission-242151

 

• Planning sought for Tralee housing development | RadioKerry.ie https://www.radiokerry.ie/news/planning-sought-for-tralee-housing-development-242282

 

• Murphy Group, perhaps the best-known Irish construction firm in the UK, saw its turnover surpass £1bn last year, booking revenues of £1.11bn (€1.29bn), despite the impact of the pandemic. https://m.independent.ie/business/irish/turnover-tops-1bn-at-builder-murphy-group-40607750.html

 

• Early prudence pays off for Sisk during pandemic: While others struggled for liquidity last year, the construction group’s cash balances grew https://www.thetimes.co.uk/article/early-prudence-pays-off-for-sisk-during-pandemic-0x667572j

 

• ORS sense: building a better tomorrow | “Flexibility was the requirement for employees long before Covid-19. Our greatest asset is our people,”  https://www.businesspost.ie/commercial-reports/ors-sense-building-a-better-tomorrow-0b46b226

 

• Greystar hires Ward Frisby as Development Director to support growth strategy in Ireland https://www.propertyfundsworld.com/2021/07/01/302796/greystar-hires-ward-frisby-development-director-support-growth-strategy-ireland

 

• Kirby Group Engineering is to create 300 jobs as part of a significant expansion to meet demand for its services in Ireland and across Europe. https://amp.rte.ie/amp/1232600/

 

 

 

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 * 

 

• Real Estate Technology Supporting ESG – Standard Access https://standardaccess.co/real-estate-technology-supporting-esg/

 

• MyHome.ie releases new valuation tool for estate agents: Around the Block: MYVALU employs local sales data to help determine property pricing https://www.irishtimes.com/life-and-style/homes-and-property/myhome-ie-releases-new-valuation-tool-for-estate-agents-1.4607636?mode=amp

 

• 5 Mins With … Padraig Finn from Dornan Group | Built Environment | Construction Global https://constructionglobal.com/built-environment/5-mins-padraig-finn-dornan-group

 

• Leading British academic joins Pi Labs to advise on the future of PropTech:  Andrew Baum has joined Pi Labs, one of Europe’s most active PropTech investors, as Research & Strategy Partner https://www.propertyfundsworld.com/2021/07/02/302863/leading-british-academic-joins-pi-labs-advise-future-proptech

 

• European tech grows faster than US or Asia amid VC boom | Sifted https://sifted.eu/articles/europe-growth-investment-2021/?

 

• VC activity in commercial real estate technology has reached $2.6 billion funding, putting the segment on track to make this year the second-most valuable for venture activity, and residential real estate proptech has already reached an annual record of $6.2 billion in funding https://connectedremag.com/smart-buildings/proptech/report-proptech-bouncing-back-from-covid-19-slump/

 

• Parisian Proptech WeMaintain raises €30 million, moves beyond just up and down  https://tech.eu/brief/parisian-proptech-wemaintain-raises-e30-million-moves-beyond-just-up-and-down/

 

• B2B Proptech PriceHubble Makes its Fourth Acquisition by Adding Czech Proptech Realtify https://www.crowdfundinsider.com/2021/06/177122-b2b-proptech-pricehubble-makes-its-fourth-acquisition-by-adding-czech-proptech-realtify/

 

• Pi Labs invests in Europe’s largest robotics marketplace platform https://www.privateequitywire.co.uk/2021/06/29/302616/pi-labs-invests-europes-largest-robotics-marketplace-platform

 

• Construction robotics company Toggle raises $8M – TechCrunch https://techcrunch.com/2021/06/29/construction-robotics-company-toggle-raises-8m/

 

• Sustainable tech developer Turntide Technologies raises $225M – TechCrunch https://techcrunch.com/2021/06/30/sustainable-tech-developer-turntide-technologies-raises-225m/

 

• Four PropTech Startups Pivoting Real Estate Investment With Fractional Ownership – BW Disrupt http://bwdisrupt.businessworld.in/article/Four-PropTech-Startups-Pivoting-Real-Estate-Investment-With-Fractional-Ownership/28-06-2021-394622/

 

• Kier has started using artificial intelligence to support its bids for new work, Construction News can exclusively reveal https://www.constructionnews.co.uk/contractors/kier/kier-using-ai-technology-to-support-bids-29-06-2021/

 

• Sidewalk Labs Wants to Make Cities More Sustainable, One Building at a Time | Propmodo https://www.propmodo.com/sidewalk-labs-wants-to-make-cities-more-sustainable-one-building-at-a-time/

 

• Fifth Wall Backs Another Real Estate Startup | Los Angeles Business Journal https://labusinessjournal.com/news/2021/jun/28/fifth-wall-backs-flyhomes/

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Irish house prices surge 13% due to weak supply: Reports from two property websites reveal strong pick-up in price growth https://www.irishtimes.com/business/economy/irish-house-prices-surge-13-due-to-weak-supply-1.4605003?mode=amp

 

• Housebuyers paying 20% more for a property than a year ago https://www.irishexaminer.com/news/arid-40323776.html

 

• Return to Celtic Tiger era as house prices surge by up to €1,500 a week: Homes are selling in shortest time in recent history  https://m.independent.ie/irish-news/news/return-to-celtic-tiger-era-as-house-prices-surge-by-up-to-1500-a-week-40586579.html

 

• What’s driving bidding wars for houses in Ireland? https://www.rte.ie/brainstorm/2021/0629/1231923-ireland-housing-property-bidding-wars-supply-demand/

 

• Expert Predicts House Prices To Rocket Further With Boom In Mortgages https://extra.ie/2021/07/01/property/house-prices-mortgages-boom

 

• Lack of supply doesn’t explain current spike in house prices: Impact of coronavirus creates demand bubble in housing markets throughout the world https://www.irishtimes.com/business/economy/lack-of-supply-doesn-t-explain-current-spike-in-house-prices-1.4606117?mode=amp

 

• Property boom reminiscent of the Celtic Tiger https://www.thetimes.co.uk/article/property-boom-reminiscent-of-the-celtic-tiger-9n6wvd5qh

 

• Affordable housing model could earn State money over time, conference hears: Housing body says homes for €250,000 ‘workable’ to ease declining ownership rates https://www.irishtimes.com/news/ireland/irish-news/affordable-housing-model-could-earn-state-money-over-time-conference-hears-1.4609157?mode=amp

 

• Mortgage approvals surge, adding further pressure to the housing market https://www.irishexaminer.com/business/economy/arid-40324541.html?type=amp

 

• Top tips: Paying off fixed mortgage early could trigger hefty fee https://m.independent.ie/business/personal-finance/property-mortgages/top-tips-paying-off-fixed-mortgage-early-could-trigger-hefty-fee-40607801.html

 

• Deposits returned to first-time buyers after approved housing body snaps up Limerick homes https://www.limerickleader.ie/news/home/645908/deposits-returned-to-first-time-buyers-after-approved-housing-body-snaps-up-limerick-homes.html

 

• Why buying a property with your pension just got a lot harder https://www.irishtimes.com/life-and-style/homes-and-property/why-buying-a-property-with-your-pension-just-got-a-lot-harder-1.4604953?mode=amp

 

• Financial deterrants to selling home under Fair Deal to go – but ‘rental income nut remains uncracked’ https://m.independent.ie/business/personal-finance/property-mortgages/financial-deterrants-to-selling-home-underfair-deal-togo-but-rental-income-nut-remains-uncracked-40600373.html

 

• Rent measures a ‘disaster’, says landlord association https://amp.rte.ie/amp/1232494/

 

• Tenants feel high level of insecurity in rented properties, study shows https://m.independent.ie/business/personal-finance/property-mortgages/tenants-feel-high-level-of-insecurity-in-rented-properties-study-shows-40604523.html

 

• Working from home impacts property prices: A ‘perfect storm’, says Cork auctioneer – ‘Houses are like hens’ teeth here’ – house prices outside Dublin continue to rise https://www.irishtimes.com/news/ireland/irish-news/working-from-home-impacts-property-prices-a-perfect-storm-says-cork-auctioneer-1.4606231?mode=amp

 

• The mica crisis: ‘We’re going to end up with a Miami incident in Ireland’: Use of the defective construction material mica has wreaked havoc in homes in the north-west of the country, with some 7,000 houses potentially awaiting full demolition as a result. Affected homeowners want answers and action from the government, and they want it fast https://www.businesspost.ie/houses/the-mica-crisis-were-going-to-end-up-with-a-miami-incident-in-ireland-e4ec389a

 

• We need to start a conversation about commodifying houses: Circumstances can appear to confound those seeking homes of their own at every turn — or more precisely, at every level https://www.irishexaminer.com/opinion/columnists/arid-40326227.html?type=amp

 

• Bulk-buying funds who lease to state are exempt from new 10% stamp duty: Amendment to bill facilitates bulk-buying and renting to local authorities by institutional investors, despite Eurostat warning https://www.businesspost.ie/houses/bulk-buying-funds-who-lease-to-state-are-exempt-from-new-10-stamp-duty-4ad90d12

 

• Ireland is yearning for strong defences against landlord despotism: Building social housing means building homes https://www.thejournal.ie/readme/landlords-ireland-social-housing-5480749-Jul2021/?amp=1

 

• €9.4m for apartment portfolio at entrance to Malahide’s millionaires’ row: 22 units and creche at Abington Wood are generating annual rental income of €555,140 https://www.irishtimes.com/business/commercial-property/9-4m-for-apartment-portfolio-at-entrance-to-malahide-s-millionaires-row-1.4605872?mode=amp

 

• Nama puts Finglas residential rental portfolio for sale at €14.5m: Sale of 54 apartments at Prospect Hill offers buyer scope for €1.092m in annual rental income https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/nama-puts-finglas-residential-rental-portfolio-for-sale-at-14-5m-1.4606680?mode=amp

 

• Property Tax should be used to develop sink funds for apartments, says Senator https://dublinpeople.com/news/dublin/articles/2021/06/30/property-tax-develop-sink-funds-apartments-32163/

 

• Stripe co-founder John Collison buys Abbey Leix estate for some €20m: Billionaire acquires Co Laois mansion on 1,120 acres from businessman Sir David Davies https://www.irishtimes.com/life-and-style/homes-and-property/stripe-co-founder-john-collison-buys-abbey-leix-estate-for-some-20m-1.4607230?mode=amp

 

• Also, Top of the tycoon pile: Ireland’s richest business figures are spending millions on stately homes https://www.thetimes.co.uk/article/top-of-the-tycoon-pile-8dv2wctt2

 

• House prices in Wexford, Waterford and Kerry jump by over 20%: Remote working and purchasing of holiday homes drive prices in the three coastal counties https://www.irishtimes.com/business/retail-and-services/house-prices-in-wexford-waterford-and-kerry-jump-by-over-20-1.4605658?mode=amp

 

• The 4% rent hike rule is being scrapped – now any increase will be decided by inflation https://www.thejournal.ie/rent-pressure-zones-new-rules-5482044-Jul2021/

 

• High-end Dublin houses are selling quickly. Who’s buying them? Around the Block: Agents taken aback by speed at which prime properties are trading https://www.irishtimes.com/life-and-style/homes-and-property/high-end-dublin-houses-are-selling-quickly-who-s-buying-them-1.4607678?mode=amp

 

• New to the market in Ireland: Property to buy in Co Dublin, Co Wicklow, Co Cork and Dublin https://www.thetimes.co.uk/article/new-to-the-market-in-ireland-property-to-buy-in-co-dublin-co-wicklow-co-cork-and-dublin-jtmhs8l7w

 

• Multi-Unit Developments Training Webinars | The Housing Agency https://www.housingagency.ie/muds-omctraining

 

 

 

 

 

COMMERCIAL PROPERTY NEWS

 

 

• CBRE Ireland: Dublin office lettings almost treble in second quarter https://amp.rte.ie/amp/1232695/

 

• 2K Games to pay €60 per sq ft for offices at One Park Place: US video games publisher enters into 10-year sub-lease as Dropbox goes ‘virtual first’ https://www.irishtimes.com/business/commercial-property/2k-games-to-pay-60-per-sq-ft-for-offices-at-one-park-place-1.4606692?mode=amp

 

• Gap to close all stores in Ireland and UK by end of year: Retailer has been active here since 2006 https://www.irishtimes.com/business/retail-and-services/gap-to-close-all-stores-in-ireland-and-uk-by-end-of-year-1.4608210?mode=amp

 

• Lululemon stretches into standalone Grafton Street store https://www.thetimes.co.uk/article/lululemon-stretches-into-standalone-grafton-street-store-vsxgbpkw5

 

• WESTLAND House, a multi-let office investment in Westland Business Park, Willow Road, Dublin 12, has been put up for sale with a €2.8m guide price. www.independent.ie https://m.independent.ie/business/commercial-property/west-dublin-office-investment-offers-852pc-net-initial-yield-40599897.html

 

• Dundrum Main Street investment for €545,000: The two-storey mixed-use investment extends to about 267 square metres and has the benefit of side access and a rear yard https://www.businesspost.ie/commercial/dundrum-main-street-investment-for-eur545000-484d62af

 

• Iconic Dublin pub site hugely loved by The Dubliners on sale for €6 million https://www.dublinlive.ie/news/dublin-news/irish-pubs-closed-iconic-tallaght-20936481.amp

 

• Commercial unit for sale in Galway’s William Street: The self-contained three-storey building has an open-plan retail area on the ground floor with overhead storage accommodation https://www.businesspost.ie/commercial/commercial-unit-for-sale-in-galways-william-street-ace40768

 

• Council to sell property housing Limerick bar – for just €35,000 https://www.limerickleader.ie/news/home/643989/council-to-sell-property-housing-limerick-bar-for-just-35-000.html

 

• Xavier McAuliffe checks back in to Lyrath Estate: Xavier McAuliffe has already lost and regained the luxury estate once; now it must recover from the pandemic https://www.thetimes.co.uk/article/xavier-mcauliffe-checks-back-in-to-lyrath-estate-j2nmvgh0h

 

• The Rebirth Of The Department Store: 5 Game-Changing Trends We Can See In Luxury Retail https://www.forbes.com/sites/katehardcastle/2021/06/28/the-rebirth-of-the-department-store-5-game-changing-trends-we-can-see-in-luxury-retail/

 

• Grade-A office and retail plan for Belfast city centre: Chancery House on Victoria Street is to be redeveloped in a €11.6m project which aims to provide flexible options for indigenous businesses https://www.businesspost.ie/commercial/grade-a-office-and-retail-plan-for-belfast-city-centre-a548930d

 

 

INTERNATIONAL PROPERTY NEWS

• Ballymore sells London office building to Kennedy Wilson for €205m: One Embassy Gardens is let to the world’s biggest book publisher Penguin Random House https://www.irishtimes.com/business/commercial-property/ballymore-sells-london-office-building-to-kennedy-wilson-for-205m-1.4607042?mode=amp

 

• UK house prices grow at fastest rate in more than 17 years https://www.irishtimes.com/business/economy/uk-house-prices-grow-at-fastest-rate-in-more-than-17-years-1.4606641?mode=amp

 

• Increase in suicide rate shows UK site workers still ‘need to be reached’ | Construction News https://www.constructionnews.co.uk/health-and-safety/increase-in-suicide-rate-shows-site-workers-still-need-to-be-reached-02-07-2021/?eea=%2AEEA%2A&deliveryName=DM2109

 

• Fake construction ID warning as EU worker deadline looms https://www.constructionenquirer.com/2021/06/28/fake-construction-id-warning-as-eu-worker-deadline-looms/

 

• Vatican indicts 10 on charges connected to London property deal https://m.independent.ie/world-news/vatican-indicts-10-on-charges-connected-to-london-property-deal-40609121.html

 

• Miami building ‘needed multimillion-dollar repairs three years before collapse’: Five people have been confirmed dead following the collapse of the apartment block in Surfside. https://www.thejournal.ie/miami-collapse-investigation-2-5479057-Jun2021/?amp=1

 

• Why these two commercial buildings are the ideal design for a post-COVID world https://www.commercialrealestate.com.au/news/why-these-two-buildings-are-the-shape-of-commercial-developments-to-come-1068779/

 

• US construction expenditure to grow around 5% in 2021 | Built Environment | Construction Global https://constructionglobal.com/built-environment/us-construction-expenditure-grow-around-5-2021

 

 

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/