Sunday Property Round-Up, March 15th 2020

 

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

*I was delighted to sign in support of this campaign for better public procurement processes at https://www.wecanbuildbetter.org/ – please take a few minutes to read through the website, sign if you support it and perhaps add your comments and industry experience to this.     Before we get stuck into the general property news of the week, below are a few local and international stories that might be of particular interest: 

 

 

 

  • Collapse of deal for estate agent blamed on Covid-19: The country’s biggest estate agent is looking for a new buyer for its commercial property business after the investor who agreed to pay £38 million failed to come up with the cash, blaming the impact of coronavirus on senior staff. Countrywide said that John Bengt Moeller, 59, from Monaco, failed to transfer the funds to pay for Lambert Smith Hampton. The sale was due to complete on January 20 but the deadline was extended to midday yesterday after Mr Moeller said that he had “logistical” issues delivering the funds. However, he missed that deadline too… https://www.thetimes.co.uk/article/collapse-of-deal-for-estate-agent-blamed-on-covid-19-q5nk7bl3m

 

 

If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/       As always, you might let me know if I have missed out on any relevant property news by emailing  carol@caroltallon.com.     (Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)

SUNDAY LISTEN

Property Matters: Ireland’s First Weekly Property Radio Show (& Podcast!):   Ireland’s first weekly property radio show, Property Matters, launched In January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com). Seasoned political broadcaster, Bryan Fox, and I (Carol Tallon) team up to deliver 60 minutes of industry chat with guests from the areas of planning, construction, property and proptech. Produced by Katie Tallon of Hear Me Roar Media.      ‘Property Matters’ March 10th 2020: Right to housing, Offsite construction and a billionaire’s housing solution On Property Matters this week we broke down Dermot Desmond’s controversial 5,000 word opinion piece in the Irish Times: Everyone has a right to a home. Here is how it can be done Also, we were joined on location in the city centre (please excuse the ambient noise!) by Deborah Smyth of Tempohousing UK & Ireland and Ger Fahey, managing director of Horizon Offsite to talk all things MMC. *Listen back: https://ipropertyradio.com/331-2/*     *Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio    Email the Property Matters team at hello@iPropertyRadio.com  

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

 

 

 

  • South Dublin County Council to Progress Affordable Housing Development: South Dublin County Council has agreed to progress a new affordable housing development in Killinarden, Tallaght that could provide up to 500 new social, affordable and private homes. The proposed mix for the Killinarden site is for 300 affordable homes with 100 private and with an extra 100 social homes provided. Affordable housing delivered on the site is expected to include 2-bed apartments/duplex, 3-bed houses/duplex and 4-bed houses. https://www.sdcc.ie/en/news/south-dublin-county-council-to-progress-affordable-housing-development.html

    *PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details*

 

CONSTRUCTION & DEVELOPMENT NEWS

 

 

 

 

 

 

 

  • Social housing ‘could take 10 years’ if councillors block land sales:  Dublin City Council has selected nine sites, three on the southside and six on the northside, that are currently used as depots for its staff, vehicles and equipment, but could accommodate at least 745 homes. More than 20 per cent would be senior citizens’ apartments, including homes for older people who want to downsize from larger houses. Brendan Kenny, the council’s head of housing, said the local authority does not plan to build the homes itself, but will use instead approved housing bodies (AHBs) to provide the social housing element. https://www.irishtimes.com/news/social-affairs/social-housing-could-take-10-years-if-councillors-block-land-sales-1.4200199?mode=amp

 

  • Is Cairn having a rethink on Stillorgan student accommodation scheme? “Cairn Homes not to proceed with Stillorgan student accommodation?” That’s the intriguing, and it should be added, entirely legitimate question Fine Gael local councillor Barry Saul posed on Twitter last Friday. It’s been two years since the listed homebuilder secured “fast-track” planning permission for the former Blakes restaurant site in south Co Dublin, and there’s still no sign of the 548 student bed spaces and 103 apartments it promised. While The Irish Times understands the delay is due in part to ongoing discussions between the developer and Dún Laoghaire Rathdown County Council on the status of the section of the Old Dublin Road next to the 3.3-acre site, the speculation in relation to Cairn’s plan is intensifying https://www.irishtimes.com/life-and-style/homes-and-property/is-cairn-having-a-rethink-on-stillorgan-student-accommodation-scheme-1.4199699?mode=amp

 

 

 

 

  • Developer Crosbie disappointed at being left out of concert venue project: Dublin developer Harry Crosbie has expressed his disappointment after being left out of a submission made by a Wexford-based construction company to Wexford County Council regarding the future development at Gorey’s Market House and adjoining lands. Crosbie, who had come up with a plan for a 1,500-seater venue in the south-east region, believed a deal was done between all interested parties, including Tommy and Paddy Redmond of Redmond Construction Ltd, for pursuing the design, build and operation contract. https://amp.independent.ie/irish-news/crosbie-disappointed-at-being-left-out-of-concert-venue-project-39045187.html

 

  • Trinity Street car park complex to be replaced with office block: Car park operator Bashview Limited is divesting from the business as city moves toward more cycle-friendly plans https://www.businesspost.ie/commercial/trinity-street-car-park-complex-to-be-replaced-with-office-block-6364ec5d

 

  • Work to begin next week on €50m development in Limerick https://www.limerickleader.ie/news/home/524726/work-to-begin-next-week-on-50m-development-in-limerick.htm 

 

 

 

 

 

 

 

 

 

  • Lagan owner Breedon closes in on more Irish targets https://www.irishexaminer.com/breakingnews/business/lagan-owner-breedon-closes-in-on-more-irish-targets-987373.html #construction #propertydevelopment #developmentfinance

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

  • 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 * 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER PROPERTY NEWS

 

 

 

 

 

 

  • Rents on rise in industrial sector but falling for retail: prime retail rents fell 9pc in Dublin and 7pc in the rest of the country in 2019, although Grafton Street rents rose 7pc. The industrial sector was the star performer in the commercial market while offices are seeing stabilisation in rents, according to the report which is based on a survey of its members. “It’s clear from the report that all retail operations, whether in urban city centres or smaller rural towns are continuing to grapple with the challenges posed by online and the transition to a more ‘experiential shopping model’,” the report says. https://amp.independent.ie/business/commercial-property/rents-on-rise-in-industrial-sector-but-falling-for-retail-39037288.html

 

 

 

 

 

 

 

  • Bartra offers new nursing home to HSE for Covid-19 acute cases:  HSE told to look for 10,000 beds around the state to cope with more seriously ill patients | Business Post https://www.businesspost.ie/health/bartra-offers-new-nursing-home-to-hse-for-covid-19-acute-cases-2bfbe3bc

 

  • Fianna Fail spokesman Robert Troy shows enterprising side in three property projects: The party’s spokesman on business, enterprise and innovation is a partner in a company constructing apartments at Bridge Street in Mullingar that are to be sold to Westmeath county council upon completion. He also has a half-share in a property development in Phibsboro, turning a vacant site close to the new Grangegorman college campus into two three-bedroom terraced homes. Troy’s partner in the Dublin project is John Noel McGivney, a nursing-home owner from Co Westmeath… https://www.thetimes.co.uk/edition/ireland/fianna-fail-spokesman-robert-troy-shows-enterprising-side-in-property-projects-rfrkhp8gr

 

 

  • Also in the Business Post today: UZ Property firm chaired by O’Dea sees turnover of €35.5m in 2019 (Formation Group); Ashford Castle owner to turn Hatch Hall into a boutique hotel; and Irish Life property funds rise with focus on rental income.

 

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