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:
- ESRI cuts growth forecast and says jobs market will not recover until 2023 https://www.irishtimes.com/business/economy/esri-cuts-growth-forecast-and-says-jobs-market-will-not-recover-until-2023-1.4519199?mode=amp
- Dublin Belfast economic corridor to be launched https://amp.rte.ie/amp/1205755/
- European report criticises Ireland’s housing standards https://amp.rte.ie/amp/1205725/
- Housing defects group to examine fire safety issues in apartments https://www.irishtimes.com/news/politics/housing-defects-group-to-examine-fire-safety-issues-in-apartments-1.4520179?mode=amp
- Government must grasp the nettle on housing and tackle land speculation – We must learn lessons from the crash of 2008 and develop truly affordable housing https://www.irishexaminer.com/opinion/commentanalysis/arid-40249364.html
- Relocation of Dublin Port would cost €8.3bn DPC claims https://www.rte.ie/news/business/2021/0323/1205600-dublin-port-company-on-future-needs/
- MetaProp’s Global PropTech Confidence Index for year-end 2020: metaprop.vc/research
- EIIS could include VC money for start-ups: The Government is considering extending generous tax breaks to investment in startups affected by Covid in a planned expansion of the Employment Investment Incentive Scheme (EIIS). https://m.independent.ie/business/small-business/eiis-could-include-vc-money-for-start-ups-40223024.html
- Climate Bill signals intent but gaps remain on how to halve emissions by 2030 https://www.irishtimes.com/news/politics/climate-bill-signals-intent-but-gaps-remain-on-how-to-halve-emissions-by-2030-1.4518356?mode=amp
- Green buildings set to raise the roof https://www.thetimes.co.uk/article/green-buildings-set-to-raise-the-roof-mt92wcrgn
- Artist Krista Kim sells “first NFT digital house” for over $500,000 https://www.dezeen.com/2021/03/22/mars-house-krista-kim-nft-news/
- Sad passing of major figure in Athlone life: Donal Hynes, late of Hodson Bay, Athlone, passed away on Thursday, peacefully, surrounded by his loving family, at his daughter’s residence in Ferbane. The late Mr Hynes made a major contribution to the life of Athlone across many spheres. He was an instrumental figure in the business world of Athlone, most notably as an auctioneer, a business he established in 1968 which continues to this day as REA Hynes. https://www.westmeathindependent.ie/2021/03/26/sad-passing-of-major-figure-in-athlone-life/
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 iPropertyRadio.com this week:
Part 1: Damien Browne of Standard Access, creators of the Digital Spine operating system for smart buildings, joins us to talk about the company’s new US-patent for sound encrypted keyless entry (next generation of smart locks).
Watch back: https://youtu.be/_rObVnI9vEo
Part 2: Andrew Baum, esteemed Professor of Practice, Saïd Business School, University of Oxford gives a brief history of proptech, the evolution of this and what’s next for the sector.
Watch back: https://youtu.be/UV9bAE4gNFI
*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
- A new square in Dublin, which is privately owned, on a quarter-acre Wilton Park, Dublin 2, is to be named after the Irish writer, Mary Lavin. It is been described as the first significant commemoration of an Irish female writer https://amp.rte.ie/amp/1206279/
- What is the future for fast-track planning rules? Victory for objectors as Cairn’s plans for former RTÉ lands thrown out by High Court https://www.irishtimes.com/business/construction/what-is-the-future-for-fast-track-planning-rules-1.4521276?mode=amp
- Great opportunity for towns around Ireland: .IE Digital Town Awards https://www.weare.ie/about-ie-digital-town-awards/
- Government refuses to fund €25m Dublin whitewater rafting project: Dublin City Council’s controversial George’s Dock plan cast into doubt after decision https://www.irishtimes.com/news/ireland/irish-news/government-refuses-to-fund-25m-dublin-whitewater-rafting-project-1.4516220?mode=amp
- RESIDENTS are taking a judicial review in hopes to overturn the planning approval for the development of 204 houses https://www.echo.ie/news/article/residents-hope-to-overturn-planning-at-rathcoole-woodlands
- Debt, planning battles and a mountain of volunteer work: The true cost of running an ecovillage – The Currency https://thecurrency.news/articles/37260/debt-planning-battles-and-a-mountain-of-volunteer-work-the-true-cost-of-running-an-ecovillage/
- Plans in place for €100m road and new bridge for Cobh https://www.irishexaminer.com/news/munster/arid-40248605.html?type=amp
- Local residents win High Court ruling against €160m incinerator project | Southern Star https://www.southernstar.ie/news/local-residents-win-high-court-ruling-against-e160m-incinerator-project-4220256
*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
- McKillen firm says ‘no public health justification’ for construction site lockdowns: “There is no public health justification for regulations under which construction works at Intel’s Leixlip plant can proceed while private housing cannot be built in Dublin, the High Court has been told”https://www.breakingnews.ie/amp/ireland/mckillen-firm-says-no-public-health-justification-for-construction-site-lockdowns-1102289.html
- Construction holds its breath as stalled virus numbers threaten reopening plans: The sector argues that if the Government follows the data, it should be let fully operate https://www.irishtimes.com/business/construction/construction-holds-its-breath-as-stalled-virus-numbers-threaten-reopening-plans-1.4520005?mode=amp
- Site closures could mean loss of 10,000 new homes – CIF https://amp.rte.ie/amp/1205278/
- CIF chief, Tom Parlon claims builders emigrating due to building sites closure – Construction industry says rates of transmission in sites still open are very low https://www.irishtimes.com/news/social-affairs/parlon-claims-builders-emigrating-due-to-building-sites-closure-1.4516187?mode=amp
- IHBA – Sites are safe, society needs homes, skills are being lost https://www.irishbuildingmagazine.ie/2021/03/22/sites-are-safe-society-needs-homes-skills-are-being-lost/
- Housing Minister says re-opening construction from April 5th will be an “absolute priority” during talks on easing restrictions https://www.midwestradio.ie/index.php/news/46206-housing-minister-says-return-to-construction-is-an-absolute-priority
- Alice-Mary Higgins: The ‘low-ball’ public procurement model is broken and needs reform – The senator has proposed new legislation to rebalance the process. https://www.thejournal.ie/readme/public-procurement-5389404-Mar2021/
- ‘Covid has made the construction industry cruel’ – builders made homeless after losing jobs: Some 60,000 construction workers are out of work due to the Level 5 restrictions introduced in January https://m.independent.ie/world-news/coronavirus/covid-has-made-the-construction-industry-cruel-builders-made-homeless-after-losing-jobs-40237119.html
- Appeals board rejects council’s proposals to limit docklands height increases: Council sought amendments to Grand Canal Docks planning scheme https://www.irishtimes.com/business/construction/appeals-board-rejects-council-s-proposals-to-limit-docklands-height-increases-1.4519175?mode=amp&__twitter_impression=true
- State should follow Intel example and invest properly in the future: Right now, the state can fund itself at very low cost. That won’t last for ever, and we must take advantage of it while we can https://www.businesspost.ie/infrastructure/ian-guider-state-should-follow-intel-example-and-invest-properly-in-the-future-2b8807f5
- Building industry takes stock following a challenging year: At the 2021 Housebuilding Summit, industry figures looked at the year ahead and discussed how to tackle what host Jonathan Healy referred to as ‘a crisis on top of a crisis’ https://www.businesspost.ie/commercial-reports/building-industry-takes-stock-following-a-challenging-year-6a47b991
- First, the state won’t pay for its whitewater rafting plan. Now council’s plan for just “minimal” height increases in Dublin’s docks hit – The Currency https://thecurrency.news/articles/41152/first-the-state-wont-pay-for-the-whitewater-rafting-plan-now-dublin-city-councils-plan-for-just-minimal-height-increases-in-dublins-docks-has-been-blocked/
- Round Hill and SFO form joint venture to develop family homes to rent https://www.irishtimes.com/business/commercial-property/round-hill-and-sfo-form-joint-venture-to-develop-family-homes-to-rent-1.4521030?mode=amp
- Union Investment pays over €200m for 435 Dublin apartments: German investor strikes forward-funding deal with Ballymore at Royal Canal Park https://www.irishtimes.com/business/commercial-property/union-investment-pays-over-200m-for-435-dublin-apartments-1.4518068?mode=amp
- Quintain to deliver over 700 new homes in West Dublin https://www.businessworld.ie/property-news/Quintain-to-deliver-over-700-new-homes-in-West-Dublin-575141.html
- Quintain gets green light for further 168 new homes at Cherrywood: Construction of 304 units to begin at south Dublin scheme once Covid-19 rules allow https://www.irishtimes.com/business/commercial-property/quintain-gets-green-light-for-further-168-new-homes-at-cherrywood-1.4519122?mode=amp
- Hines to seek permission for 403 new homes in Dublin 8 https://www.irishtimes.com/business/commercial-property/hines-to-seek-permission-for-403-new-homes-in-dublin-8-1.4520343?mode=amp
- Permission for 614 residential units on RTÉ lands overturned on consent by High Court https://www.irishexaminer.com/property/commercial/arid-40251320.html?type=amp
- MKN Group to build 15-storey hotel and 88 apartments in East Wall: Planning permission has been granted for the development, which also includes offices and retail, in Dublin 3 https://www.businesspost.ie/commercial/mkn-group-to-build-15-storey-hotel-and-88-apartments-in-east-wall-8886ff18
- SuperValu store owner fails to block Irish Life plan for Talbot Mall https://www.irishtimes.com/business/commercial-property/supervalu-store-owner-fails-to-block-irish-life-plan-for-talbot-mall-1.4521092?mode=amp
- Glenveagh selected by Fingal County Council to deliver 1,200 new homes https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/glenveagh-selected-by-fingal-county-council-to-deliver-1-200-new-homes-1.4521207?mode=amp
- Dublin 4 scheme to target demand for pandemic-proofed offices https://www.irishtimes.com/business/commercial-property/dublin-4-scheme-to-target-demand-for-pandemic-proofed-offices-1.4516808?mode=amp
- Drumcondra residents object to demolition of landmark Quinn’s Pub https://www.irishtimes.com/business/construction/drumcondra-residents-object-to-demolition-of-landmark-quinn-s-pub-1.4519096?mode=amp
- Plans for 188 build-to-rent apartments lodged https://www.echo.ie/ballyfermot/article/plans-for-188-build-to-rent-apartments-lodged
- 924 new beds for UCD – if building sites can reopen: University College Dublin has announced it will build more than 900 new rooms for students before next September – but the plans are subject to the reopening of construction sites in the coming weeks. https://m.independent.ie/irish-news/924-new-beds-for-ucd-if-building-sites-can-reopen-40246895.html
- Green light given to build country’s tallest building at historic Cork site: The plans include a five-star hotel, a range of commercial units for retail, food, tourism and leisure. https://www.thejournal.ie/cork-tallest-building-custom-house-quay-5390300-Mar2021/
- Bessborough home development plans to undergo oral hearing https://www.irishtimes.com/news/ireland/irish-news/bessborough-home-development-plans-to-undergo-oral-hearing-1.4520941?mode=amp
- Hotel plans are lodged for Cork’s Camden Quay: The prominent quayside building was bought for €3.5m late last year by a UK/Irish group https://www.irishexaminer.com/property/developmentconstruction/arid-40250387.html
- Engineering cluster ‘breaking new ground’ in Munster: Collaboration leads to new business development and high quality supply chain https://www.irishexaminer.com/business/economy/arid-40249847.html
- Contract awarded for construction of second Cath lab at University Hospital Waterford https://www.irishexaminer.com/news/munster/arid-40251284.html?type=amp
- Seven apartments on sale in Kilkenny city for €1m: The units collectively generate rental income of €80,000 a year https://www.businesspost.ie/commercial/seven-apartments-on-sale-in-kilkenny-city-for-eur1m-ea877876
- Plans for 104 houses and apartments in Athenry hit setback https://www.galwaydaily.com/news/plans-for-104-houses-and-apartments-in-athenry-hit-setback/
- Work starting on Portlaoise Convent housing plan in summer https://www.leinsterexpress.ie/news/portlaoise-/618645/work-starting-on-portlaoise-convent-housing-plan-in-summer.html
- €850,000 for six acres in Tralee zoned for medium-density housing scheme: Land is near the Aquadome and close to the scenic wetlands https://www.irishexaminer.com/property/commercial/arid-40250540.html
- Profits at Galway micro-tunnelling firm Ward and Burke hit €26m https://m.independent.ie/business/irish/profits-at-galwaymicro-tunnelling-firm-ward-and-burke-hit-26m-40237095.html
- Insulation giant Kingspan is to buy Logstor, a global supplier and manufacturer of pre-insulated pipe systems, for around €253m https://m.independent.ie/business/irish/kingspan-in-253m-purchase-ofdanish-pipes-group-logstor-40228895.html
- High stakes get build-to-rent star Claire Solon going at Greystar https://www.thetimes.co.uk/article/high-stakes-get-build-to-rent-star-claire-solon-going-at-greystar-jhff0s0r6
- Jim Mintern named new director of finance at CRH https://www.irishtimes.com/business/construction/crh-names-company-veteran-jim-mintern-as-finance-chief-1.4517708?mode=amp
- Sonica appoints new Commercial Director Domnick Carey https://www.irishbuildingmagazine.ie/2021/03/23/sonica-appoints-new-commercial-director-domnick-carey/
- Center Parcs wins 2020 Wood Awards Ireland for innovative use of different woods: Awards celebrate timber in design and aim to acknowledge excellence in wood usage and innovation https://www.irishtimes.com/news/environment/center-parcs-wins-2020-wood-awards-ireland-for-innovative-use-of-different-woods-1.4522059?mode=amp
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 *
- This is not strictly proptech-related but should be mandatory reading..! Being in a relationship with a startup founder | Sifted https://sifted.eu/articles/founders-life-partners/
- Samsung’s new partnership offers another glimpse of a drone delivery future — in only one Irish town: Drone company Manna will now deliver electronics to the people of Oranmore https://www.theverge.com/2021/3/25/22350861/samsung-drone-delivery-manna-ireland-electronics
- Real Estate Sustainability will not be Derailed by the Pandemic – Standard Access https://standardaccess.co/real-estate-sustainability-will-not-be-derailed-the-pandemic/
- Ireland’s AEC firms to invest on average €800k in sustainability over five years https://www.irishbuildingmagazine.ie/2021/03/22/irelands-aec-firms-to-invest-on-average-e800k-in-sustainability-over-five-years/
- Mercury invests in the Verity enterprise software solution for construction verification https://www.irishbuildingmagazine.ie/2021/03/23/mercury-invests-in-the-verity-enterprise-software-solution-for-construction-verification/
- Balfour Beatty is testing a new BIM tool that measures embodied carbon in construction materials and products to fine-tune design of lower carbon buildings https://www.constructionenquirer.com/2021/03/22/balfour-trials-embodied-carbon-calculator-tool/
- MetaProp’s Global PropTech Confidence Index for year-end 2020: metaprop.vc/research
- 10 proptech investors see better era for residential and retail after pandemic – TechCrunch https://techcrunch.com/2021/03/24/10-proptech-investors-see-better-era-for-residential-and-retail-after-pandemic/
- Knight Frank invests in Fifth Wall’s European proptech fund https://www.propertyfundsworld.com/2021/03/23/297572/knight-frank-invests-fifth-walls-european-proptech-fund
- Proptech: Beyond the spreadsheet | Real estate can be somewhat of a laggard when it comes to technology. But COVID-19 is accelerating the proptech revolution https://realassets.ipe.com/technology/proptech-beyond-the-spreadsheet/10051742.article
- Proptech Startup Side Secures New Funding https://therealdeal.com/national/2021/03/22/vc-backed-brokerage-side-gets-150m-in-funding/
- Using PropTech to lower environmental footprint and improve customer experience – Shopping Centre News https://www.shoppingcentrenews.com.au/shopping-centre-news/feature-stories/using-proptech-to-lower-environmental-footprint-and-improve-customer-experience/
- ESG podcast: “Innovation and investment are aligned,” says A/O PropTech | https://www.propertyweek.com/analysis-resi-and-data/esg-podcast-innovation-and-investment-are-aligned-says-a/o-proptech/5113300.article
- Proptech solutions drive data-based BTR strategies | Insight | Property Week https://www.propertyweek.com/perspectives-spring-2021/proptech-solutions-drive-data-based-btr-strategies/5113283.article
- Why big is sometimes better: The cost of compliance can be crippling for smaller letting agencies. Adam Walker asks, how can they possibly compete? https://thenegotiator.co.uk/why-big-is-sometimes-better/
- Robots Take Over Real Estate, But Not How You Expect: How AI And Automation May Impact CRE https://www.bisnow.com/national/news/employer/robots-take-over-real-estate-how-ai-and-automation-may-impact-cre-108196
- Neighbor raises $53M for self-storage marketplace after 5x YoY revenue growth – TechCrunch https://techcrunch-com.cdn.ampproject.org/c/s/techcrunch.com/2021/03/24/neighbor-raises-53m-series-b-for-self-storage-marketplace-after-5x-revenue-growth/amp/
- LAB Ventures to launch proptech fund on AngelList https://www.bizjournals.com/southflorida/news/2021/03/23/lab-ventures-to-launch-proptech-rolling-fund.html
- Howard Lorber Is The Latest Real Estate Legend to Launch a SPAC https://www.fool.com/millionacres/real-estate-investing/articles/howard-lorber-is-the-latest-real-estate-legend-to-launch-a-spac/
- Veev Raises $100 Million for Modular Homes | Millionacres https://www.fool.com/millionacres/real-estate-investing/articles/veev-raises-100-million-for-modular-homes/#
RESIDENTIAL PROPERTY NEWS (including PRS)
- Housing crisis: Building ban and savings to send house prices soaring: New home builds are down 25pc – and when you add to that the glut in savings, Irish house prices are set to rise, say ESRI https://m.independent.ie/business/personal-finance/property-mortgages/housing-crisis-building-ban-and-savings-to-send-house-prices-soaring-40237144.html
- Secondhand house prices pushing up price of new builds before they are finished https://extra.ie/2021/03/27/news/irish-news/secondhand-house-prices-pushing-up-price-of-new-builds-before-they-are-finished/amp
- Some houses selling for €120,000 above asking price as virtual viewings become the norm during pandemic: Home-buyers have raised concerns about the impact the Covid-19 pandemic is having on house prices https://www.thejournal.ie/impact-of-pandemic-on-house-prices-in-ireland-5384503-Mar2021/
- Irish properties achieve 25% above guide prices at auction | BreakingNews.ie https://www.breakingnews.ie/amp/business/irish-properties-achieve-25-above-guide-prices-at-auction-1100184.html
- David McWilliams: Stay away from the property market. It holds no value: Irish housing market has hit peak dysfunction and buyers should go on strike https://www.irishtimes.com/opinion/david-mcwilliams-stay-away-from-the-property-market-it-holds-no-value-1.4520834?mode=amp
- ‘Relationship status should not define your ability to own a home, but it does’: Single people say trying to buy a home is even more difficult for them than for couples – and that’s saying something. https://www.thejournal.ie/single-people-applying-for-mortgages-in-ireland-5392673-Mar2021/
- Rents nationally grew by 2.7% in 2020 as Dublin rents averaged €1,745 https://www.irishtimes.com/business/economy/rents-nationally-grew-by-2-7-in-2020-as-dublin-rents-averaged-1-745-1.4518743?mode=amp
- Hobbs hits back at Murphy’s criticism over social housing: The well-known financial adviser has responded to Social Democrats co-leader Catherine Murphy who criticised his company for selling social housing ‘as a financial product’ https://www.businesspost.ie/houses/hobbs-hits-back-at-murphys-criticism-over-social-housing-ff2a67e8
- Residents at Dublin flat complex feel ‘left behind’ amid continuing damp and mould issues | Newstalk https://www.newstalk.com/news/residents-at-dublin-flat-complex-feel-left-behind-amid-continuing-damp-and-mould-issues-1169136
- Estate agents seek cash buyers for properties with potential fire defects https://www.irishtimes.com/news/ireland/irish-news/estate-agents-seek-cash-buyers-for-properties-with-potential-fire-defects-1.4521241?mode=amp
- Rent in Cork City ‘spiralling out of control’: New report shows costs of renting in Cork increased amid pandemic https://www.echolive.ie/corknews/arid-40250759.html
- Diarmuid Gavin teams up with Electric Ireland to help homes go green: The garden designer and the utility company will show how smart meters can save electricity – and money – as we move toward a more sustainable way of life https://www.businesspost.ie/property-insight/diarmuid-gavin-teams-up-with-electric-ireland-to-help-homes-go-green-570f0d76
- Your very own Ashford castle: Contemporary meets classic in unique Co Wicklow home https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/your-very-own-ashford-castle-contemporary-meets-classic-in-unique-co-wicklow-home-1.4517826?mode=amp
- Property buyers across the globe are looking for keys to the kingdom: Kerry is experiencing a massive surge in demand for property, not only from Irish buyers but from buyers as far away as the US and Bermuda https://www.irishexaminer.com/property/residential/arid-40246703.html
COMMERCIAL PROPERTY NEWS
- Core Industrial assets top €100m ahead of planned sale https://www.irishtimes.com/business/commercial-property/core-industrial-assets-top-100m-ahead-of-planned-sale-1.4519191?mode=amp
- Estate agents will play vital role in the two-tier recovery which is bound to follow pandemic, says McAteer: Business survival is all about keeping lines of communication open and having a strong balance sheet https://m.independent.ie/business/commercial-property/estate-agents-will-play-vital-role-in-the-two-tier-recovery-which-is-bound-tofollow-pandemic-says-mcateer-40236746.html
- Group providing quarantine rooms owns or manages 24 hotels: Tifco Hotel Group is owned by a US alternative investment firm that bought an Irish business in October 2018 for €295m https://www.irishtimes.com/business/retail-and-services/group-providing-quarantine-rooms-owns-or-manages-24-hotels-1.4518373?mode=amp
- INM’s former Citywest print facility is acquired by Cork’s webprint: Print operations expected to resume at Citywest within two months https://www.irishexaminer.com/business/companies/arid-40250000.html
- Ireland growth propels Yew Grove – UK Investor Magazine https://ukinvestormagazine.co.uk/ireland-growth-propels-yew-grove/
- Also, Yew Grove aims to add €100m to its asset portfolio this year https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/commercial-property/yew-grove-aims-to-add-100m-to-its-asset-portfoliothis-year-40228116.html
- With increasing demand for Irish nursing home investment opportunities and some Irish hotels expected to come under pressure because of the effects of the Covid-19 pandemic on tourism sector, two recent deals illustrate the conversion potential of hotels https://www.businesspost.ie/commercial/nursing-home-opportunities-lie-in-converted-hotels-ddf4724a
- McKillen jnr offers long lease on bespoke Leeson Street offices: Forty One Leeson Street Lower is fully restored and comes with option of five-bedroom mews https://www.irishtimes.com/business/commercial-property/mckillen-jnr-offers-long-lease-on-bespoke-leeson-street-offices-1.4514571?mode=amp
- Exchequer Street investment at €4m offers yield of 5.62%: Dublin 2 property comprises fully-let retail and restaurant units and six apartments https://www.irishtimes.com/business/commercial-property/exchequer-street-investment-at-4m-offers-yield-of-5-62-1.4516805?mode=amp
- No tenant for key Ilac Centre store as retailers retreat from city centres: Shopping centre group Hammerson has warned Dublin City Council that its fruitless hunt for a tenant to replace H&M suggests an irreversible decline in retail https://www.businesspost.ie/retail/no-tenant-for-key-ilac-centre-store-as-retailers-retreat-from-city-centres-a1aa2752
- Foot Locker scores win in first round of rent row over Grafton Street store: Foot Locker says that government restrictions led to “an unprecedented and dramatic collapse in the pre-existing level of footfall” https://www.thetimes.co.uk/article/foot-locker-first-round-rent-row-grafton-street-store-fxpp2sh0q
- Diligent selects Bonham Quay as location for new European office https://www.irishtimes.com/business/commercial-property/diligent-selects-bonham-quay-as-location-for-new-european-office-1.4517790?mode=amp
- Update on sale of properties to Limerick hotel https://www.limerickleader.ie/news/home/619177/update-on-sale-ofproperties-to-limerick-hotel.html
- Investors all at sea in unregulated schemes: An investment product that is not subject to the usual Central Bank of Ireland rules and protections can quickly go belly up https://www.thetimes.co.uk/article/investors-unregulated-schemes-dolphin-davy-dh7xv2285
- Also, Dolphin used Davy trading platform for failed scheme: Davy name ‘helped give failed scheme legit imacy’ https://m.independent.ie/business/personal-finance/property-mortgages/dolphin-used-davy-trading-platformfor-failed-scheme-40242620.html
INTERNATIONAL PROPERTY NEWS
- Profit for Aecom’s UK business halved last year as the company counted the cost of a restructuring that saw 500 jobs cut https://www.constructionnews.co.uk/financial/aecom-profit-halves-following-restructure-22-03-2021/
- Grenfell Tower inquiry: 9 things we now know about the cladding https://www.bbc.com/news/uk-56403431
- Wework reveals $3.2bn loss as it seeks route to market https://www.thetimes.co.uk/article/wework-reveals-3-2bn-loss-as-it-seeks-route-to-market-g3mrn08h8
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/