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: 

 

• TDs want review of building finance body amid claims state agency has ‘torn up’ its remit: State body has been criticised for lending to large-scale private developers for homes bought in advance by investment funds https://www.businesspost.ie/houses/tds-want-review-of-building-finance-body-amid-claims-state-agency-has-torn-up-its-remit-4871df52

 

• Cabinet to discuss proposals around a referendum on right to housing https://www.irishexaminer.com/news/politics/arid-40818846.html

 

• Would a freeze on rents be constitutional in Ireland? The Government argues a rent freeze is not constitutionally possible but are they right?  https://www.irishtimes.com/news/ireland/irish-news/would-a-freeze-on-rents-be-constitutional-in-ireland-1.4818375

 

• Central Bank measures seek to protect new home buyers and further boost confidence: In 2021 and into 2022, ahead of any significant shift of policy or lending restrictions, the Central Bank has engaged with a wide cross-section of Irish society on questions around property  https://www.irishexaminer.com/property/developmentconstruction/arid-40820289.html

 

• Positive new initiatives driving an air of optimism in Ireland’s housing market: Ireland’s housing market is now a far more multi-headed beast than it might have been in previous decades  https://www.irishexaminer.com/property/residential/arid-40820280.html

 

• HomeBuyer’s Hero is designed to strip the risk out of new build projects. If it works, expect more and cheaper houses: The way founder Colm Casey sees it, the bottleneck in our housing system is risk. Risk is what stops lenders from lending and builders from building. HomeBuyer’s Hero is his idea for how to remove risk from the system, and get more houses built. https://thecurrency.news/articles/74768/homebuyers-hero-is-designed-to-strip-the-risk-out-of-new-build-projects-if-it-works-expect-more-and-cheaper-houses/

 

• Has Anchorage found a way to encourage affordable housing through the use of ‘granny-flat’ type units? https://www.adn.com/opinions/editorials/2022/02/26/has-anchorage-found-a-way-to-encourage-affordable-housing/

 

• No lack of interest from long-income funds despite fewer investment opportunities: Ireland continues to attract non-domestic institutional funds, which are still finding value in the hotel and residential sectors  https://www.businesspost.ie/commercial/no-lack-of-interest-from-long-income-funds-despite-fewer-investment-opportunities-8f1b8ce5

 

• Faster progress is needed to decarbonise the property sector  https://www.propertyinvestortoday.co.uk/breaking-news/2022/2/faster-progress-needed-to-decarbonise-the-property-sector–claim

 

• Asset management company at Strokestown farm broke security laws  https://m.independent.ie/business/farming/news/courts/asset-management-company-at-strokestown-farm-broke-security-laws-41403549.html

 

• Can we run our apartment management company using the Irish language? Property Clinic: It is State policy to support greater use of Irish wherever that is possible  https://www.irishtimes.com/life-and-style/homes-and-property/can-we-run-our-apartment-management-company-using-the-irish-language-1.4811144

 

• SCSI aims to raise women’s profile and participation in property industry: Surveyors to mark International Women’s Day with launch of mentoring programme https://www.irishtimes.com/life-and-style/homes-and-property/scsi-aims-to-raise-women-s-profile-and-participation-in-property-industry-1.4816199

 

• Property billionaire hopes to set up huge cannabis farm on a tiny island in the Irish Sea  https://www.cnbc.com/amp/2022/02/28/billionaire-john-whitaker-hopes-to-set-up-cannabis-farm-on-isle-of-man.html

 

• OPW chair warns communities may have to be ‘abandoned’ due to climate change flooding: Maurice Buckley said ‘horrendous’ truth was that not all populated coastal areas could be protected in event of sea-level rises https://www.businesspost.ie/climate-environment/opw-chair-warns-communities-may-have-to-be-abandoned-due-to-climate-change-flooding-3dca029e

 

• ESG funds discover S and G count for something: Trouble with ESG investing thrown into sharp relief by events in eastern Europe https://www.irishtimes.com/business/personal-finance/esg-funds-discover-s-and-g-count-for-something-1.4818755

 

• Letting agent who stole nearly €70,000 in tenant deposits avoids jail  https://www.breakingnews.ie/amp/ireland/letting-agent-who-stole-nearly-e70000-in-tenant-deposits-avoids-jail-1266173.html

 

• Public Consultation: Have Your Say on Ireland’s Digital Connectivity Strategy   https://www.publicconsultation.ie/open-public-consultations/public-consultation-have-your-say-on-irelands-digital-connectivity-strategy

 

• US cryptocurrency company Ripple is opening an office in Dublin to launch services in Ireland and to serve the wider European market. https://m.independent.ie/business/irish/us-cryptocurrency-company-ripple-joins-the-irish-crypto-club-41386969.html

 

 

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

As always, you might let me know if I have missed out on any relevant property news by emailing  carol@propertydistrict.ie.

(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)

 

 

SUNDAY LISTEN

 

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

Produced by Hear Me Roar Media

Construction productivity and sustainability are two hot topics for the industry and this week on #PropertyMatters, Carol Tallon of Property District Ireland teams up with Susan McGarry of Ecocem Ireland Ltd to host a panel of industry experts including Karolina Bäckman, Architect MAA and Research Lead with RKD Architects; Brian Cassidy, Cork City Council;  Aisling Kehoe, Design Manager with John Sisk & Son Ltd; and Patrick Barry, of the Irish Green Building Council

Watch👉https://youtu.be/CKFr_b_G_s8

 

 

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

 

Email the Property Matters team at info@propertydistrict.ie 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• Centre of island identified by Ordnance Survey Ireland  https://www.westmeathindependent.ie/2022/03/02/centre-of-island-identified-by-ordnance-survey-ireland/

 

• Forgotten Dublin phrases that we used to hear all the time: These Dublin expressions are sure to give you a blast of nostalgia  https://www.dublinlive.ie/news/history/forgotten-dublin-phrases-used-hear-23192266

 

 

• Preferred option unveiled for DART extension northwards from Malahide to Drogheda: Irish Rail unveils preferred route for extension of DART from Malahide northwards all the way to drogheda  https://m.independent.ie/regionals/dublin/fingal/preferred-option-unveiled-for-dart-extension-northwards-from-malahide-to-drogheda-41393203.html

 

• Historic Cork City streets to retire ‘Victorian Quarter’ tag: New ‘director of operations’ will promote the area’s daytime and night-time economy, as well as its cultural, arts and education offering  https://www.irishexaminer.com/news/munster/arid-40821624.html

 

• Gaeltacht community launches appeal to fight Gougane wind farm development  https://m.independent.ie/regionals/corkman/news/gaeltacht-community-launches-appeal-to-fight-gougane-wind-farm-development-41410491.html

 

• Public consultation meetings to take place on City Draft Development Plan https://connachttribune.ie/public-consultation-meetings-to-take-place-on-city-draft-development-plan/amp/

 

 

• New playground to be built in Limerick  https://www.live95fm.ie/news/live95-news/new-playground-to-be-built-in-limerick/

 

• Petition urges fresh community centre proposal for Limerick village  https://www.limerickleader.ie/news/home/758938/petition-urges-fresh-community-centre-proposal.html

 

• Bray town – a very modern creation: Learn how Bray, now the biggest town by far in County Wicklow, was a backwater for centuries and only kicked into life out of fear of Napoleon Bonaparte  https://m.independent.ie/regionals/wicklow/bray-town-a-very-modern-creation-41395769.html

 

• Donegal County Council has outlined plans on how €70million will be spent on upcoming roads improvement projects in 2022.  https://www.donegaldaily.com/2022/03/01/heres-how-e70m-will-be-spent-on-donegal-roads-in-2022/

 

 

*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details* https://www.youtube.com/watch?v=rdwwKy4MA_4 

 

 

CONSTRUCTION & DEVELOPMENT NEWS

• Minister O’Brien welcomes publication of Society of Chartered Surveyors Ireland’s Report on Construction Costs for the Defective Concrete Blocks Grant Scheme  https://www.gov.ie/en/press-release/65be2-minister-obrien-welcomes-publication-of-society-of-chartered-surveyors-irelands-report-on-construction-costs-for-the-defective-concrete-blocks-grant-scheme/

 

• Residential construction activity tops pre-pandemic levels: Deloitte report estimates more than 30,000 housing units were commenced in 2021 https://www.irishtimes.com/business/construction/residential-construction-activity-tops-pre-pandemic-levels-1.4814622

 

• Climate change and industrialisation to drive future construction disputes  https://www.pinsentmasons.com/out-law/analysis/climate-change-industrialisation-drive-future-construction-disputes

 

• Fifty thousand homes could face court challenge, builder warns: Planning system unlikely to settle down for two years, Cairn Homes chief executive says https://www.irishtimes.com/business/construction/fifty-thousand-homes-could-face-court-challenge-builder-warns-1.4817401 Also: Cairn boss says target of 30,000 new homes per year is unlikely to be reached: Head of construction giant blames logjam in the planning system and limited mortgage accessibility for slow delivery  https://www.businesspost.ie/houses/cairn-boss-says-target-of-30000-new-homes-per-year-is-unlikely-to-be-reached-c3e77afd 

 

• Johnny Ronan group settles €1bn property row: Facebook HQ, Waterfront and Spencer Place developments at heart of dispute between partners  https://www.irishtimes.com/business/construction/johnny-ronan-group-settles-1bn-property-row-1.4814170

 

• Denis O’Brien firm secures permission for Dublin docklands office block  https://www.breakingnews.ie/amp/business/denis-obrien-firm-secures-permission-for-dublin-docklands-office-block-1266321.html

 

• Dublin 4 residents oppose 10-storey office block scheme: Council requests revised plans for building that used house the Israeli embassy  https://www.irishtimes.com/business/construction/dublin-4-residents-oppose-10-storey-office-block-scheme-1.4815488?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Fconstruction%2Fdublin-4-residents-oppose-10-storey-office-block-scheme-1.4815488

 

• Council recommends refusal for €316m Dundrum build-to-rent scheme: Plan would include 531 apartment units in 10-storey scheme  https://www.irishtimes.com/business/construction/council-recommends-refusal-for-316m-dundrum-build-to-rent-scheme-1.4816741 (pictured) 

 

• Cairn Homes in €38m deal for ‘shovel ready’ housing sites: Builder buys land with planning for hundreds of homes in Dublin, Kildare and Meath https://www.irishtimes.com/business/commercial-property/cairn-homes-in-38m-deal-for-shovel-ready-housing-sites-1.4815238

 

• Council refuses planning permission for €250m Carrickmines mixed use scheme  https://www.breakingnews.ie/amp/ireland/council-refuses-planning-permission-for-e250m-carrickmines-mixed-use-scheme-1267435.html

 

• Logistics operators squeezed out of previous stamping ground in south-west Dublin: Supply is still far short of demand in the sector, a situation compounded by local authorities prioritising data centres and residential development  https://www.businesspost.ie/commercial/logistics-operators-squeezed-out-of-previous-stamping-ground-in-south-west-dublin-0236add1

 

• Pat Kenny emerges victorious in Bulloch Harbour planning battle  https://www.breakingnews.ie/ireland/pat-kenny-emerges-victorious-in-bulloch-harbour-planning-battle-1267983.html

 

• Bray seafront site with full planning for 92 apartments guiding at €6.75m: Plot has approval for mix of one-, two- and three-bed units and commercial space  https://www.irishtimes.com/business/commercial-property/bray-seafront-site-with-full-planning-for-92-apartments-guiding-at-6-75m-1.4813399

 

• Planners lodge application for 600-plus homes at former CMP Dairy site in Cork: The site is a 3.39-hectare brownfield location lying between Cork Airport and the city centre, at the junction of Tramore Road and Kinsale Road  https://www.irishexaminer.com/property/planning/arid-40820061.html

 

• Plans lodged for 103-bed hotel on Cork’s South Terrace: Permission sought to convert three late-Georgian homes into an aparthotel  https://www.irishexaminer.com/property/developmentconstruction/arid-40820628.html

 

• Plan for 61 new homes at site between Ballincollig and Macroom: A decision will be made close to the end of April https://www.corkbeo.ie/news/local-news/plan-61-new-homes-site-23287405

 

• Plan for new supermarket, cafe, 43 apartments and more for Cork town’s main st: An applications been put forward to knock five buildings and put in loads of new units  https://www.corkbeo.ie/news/local-news/plan-new-supermarket-cafe-43-23289738

 

• Plans for huge Galway hotel and spa given green light as eight-storey development to be built in business park: The plans for the development were approved by the council  https://www.galwaybeo.ie/news/galway-news/plans-huge-galway-hotel-spa-6758718

 

• Plans approved for seven storey waterfront apartment building  https://www.galwaydaily.com/news/housing/plans-approved-for-seven-storey-waterfront-apartment-building/

 

• New plan for controversial Oranmore site  https://connachttribune.ie/new-plan-for-controversial-oranmore-site/amp/

 

• A MOVE to establish Ireland’s first virtual film production hub in the Roxboro area of Limerick City by the end of next year has been included in the recently published Mid-West Regional Enterprise Plan.  https://www.limerickpost.ie/2022/02/28/limerick-in-the-frame-for-irelands-first-virtual-film-hub/

 

• Multi-million euro data centre to set sail along Limerick’s docks https://www.limerickleader.ie/news/business/755888/multi-million-euro-data-centre-to-set-sail-along-limericks-docks.html

 

• Game over? Arcade project rejected by Limerick city planners  https://www.limerickleader.ie/news/home/755082/game-over-arcade-project-rejected-by-limerick-city-planners.html

 

• Construction begins on new state-of-the-art energy efficient social housing in Kilkenny  https://www.kilkennypeople.ie/news/property/754765/construction-begins-on-new-state-of-the-art-energy-efficient-social-housing-in-kilkenny.html

 

• New Ross greenfield sites zoned for industrial use: Three separate lots are for sale by tender in strategic location close to town centre and N25 bypass https://www.businesspost.ie/commercial/new-ross-greenfield-sites-zoned-for-industrial-use-621bd638

 

• The High Court is being asked to declare as unauthorised what are claimed to have been archaeological and agricultural clearing works on lands for what has been described as “a colossal” data centre in Co Meath.  https://www.breakingnews.ie/amp/ireland/archaeological-works-at-colossal-data-centre-site-are-unauthorised-residents-claim-1266820.html

 

• Kirby Group Engineering has got the green light for a €1 million land deal with Laois County Council to develop a big manufacturing and training facility on a prime site in Portlaoise https://www.leinsterexpress.ie/news/local-news/753945/jobs-coming-to-laois-as-big-engineering-firm-picks-portlaoise-for-major-investment.html

 

• Builder protests outside Gaelcholáiste Chill Dara in Naas, County Kildare  https://www.kildarenow.com/news/home/755348/builder-protests-outside-gaelcholaiste-chill-dara-in-naas-county-kildare.html

 

• A €9m residential drug rehabilitation centre linked to the controversial Church of Scientology will not face any more legal obstacles to opening its facility in a small village in Co Meath.  https://m.independent.ie/irish-news/news/scientology-rehab-to-go-ahead-in-meath-41416015.html

 

• Planning granted for 83 houses in Rathgowan https://www.westmeathexaminer.ie/2022/02/28/planning-granted-for-83-houses-in-rathgowan/

 

• Appeal lodged against development of 21 houses in Ballyjamesduff https://www.northernsound.ie/news/appeal-lodged-against-development-of-21-houses-in-ballyjamesduff-190426

 

• Planning for 23 homes in  https://www.northernsound.ie/news/planning-for-23-homes-in-inniskeen-refused-190620

 

• Planning regulator attacks Council plans to cut windfarms and increase housing https://m.independent.ie/regionals/kerryman/news/planning-regulator-attacks-council-plans-to-cut-windfarms-and-increase-housing-41412862.html

 

• MP slams Ballymore over conditions in its London housing development https://www.businesspost.ie/houses/mp-slams-ballymore-over-conditions-in-its-london-housing-development-769f9659

 

• CRH helping staff in Ukraine to escape amid war: Building materials giant’s earnings rise to better-than-expected record of $5.4bn https://www.irishtimes.com/business/construction/crh-helping-staff-in-ukraine-to-escape-amid-war-1.4817354

 

• CRH to sell North American glass unit in $3.8bn deal: Building materials giant to sell Oldcastle Building Envelope to private-equity firm https://www.irishtimes.com/business/construction/crh-to-sell-north-american-glass-unit-in-3-8bn-deal-1.4814060

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

 

• Proptech Ireland is updating the database of 2022 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech  or MMC business sit?  Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *https://prop-tech.ie/register/ * and email product or service details to hello@prop-tech.ie.

 

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

 

• E-conveyancing: At last we can go online to sign on the dotted line: Electronic Commerce Act 2000 enables contracts to be signed electronically. However, despite the passage of two decades, the takeup of this method of signing property contracts has been low https://www.businesspost.ie/commercial/e-conveyancing-at-last-we-can-go-online-to-sign-on-the-dotted-line-386a43cf

 

• Huckletree’s Alpha Accelerator is now accepting applications: This year’s programme, running from 4th April to 30th June, will be curated around Urban Innovation, including mobility and transport, smart data/IoT, environment, and proptech: Details  👉 https://prop-tech.ie/huckletree-smart-cities-accelerator-programme/

 

• EVERCAM Construction Cameras Acquires Funding from Bentley iTwin Ventures to: Expand Construction Camera Digital Twin Capabilities  https://evercam.io/blog/evercam-construction-cameras-acquires-funding-from-bentley-itwin-ventures-toexpand-construction-camera-digital-twin-capabilities?utm_source=LinkedIn&utm_medium=Social&utm_campaign=Evercam+LinkedIn+Profile

 

• Explainer: Is there work for architects in the metaverse?  https://www.architectsjournal.co.uk/news/explainer-is-there-work-for-architects-in-the-metaverse

 

 

• 7 improvements smart home tech really needs to thrive: While smart home tech is selling well these days, some gaps need to be fixed to take things to the next level. https://www.androidauthority.com/smart-home-tech-improvements-3114400/

 

• Mass Timber Resources, BIM Plug-ins and Carbon Calculation: All In One Place https://www.archdaily.com/976601/mass-timber-resources-bim-plug-ins-and-carbon-calculation-all-in-one-place

 

• Offsite may be the future of construction, but can it be more efficient?  https://www.pbctoday.co.uk/news/mmc-news/offsite-construction-more-efficient/106501/

 

• Autonomous supply chain planning for consumer goods companies  https://www.mckinsey.com/business-functions/operations/our-insights/autonomous-supply-chain-planning-for-consumer-goods-companies

 

• Proptech VC Fifth Wall halts latest SPAC  https://finledger.com/2022/03/01/proptech-vc-fifth-wall-halts-latest-spac/

 

• Proptech Findingaplace Raises Over £310,000 on Seedrs https://www.crowdfundinsider.com/2022/03/187687-proptech-findingaplace-raises-over-310000-on-seedrs/

 

• PlaceTech | Camber Creek raises $325m proptech fund https://placetech.net/news/deals-camber-creek-raises-325m-proptech-fund/

 

• Real estate developer turned prefab home builder Veev closes on $400M in fresh funding – TechCrunch https://techcrunch-com.cdn.ampproject.org/c/s/techcrunch.com/2022/03/01/real-estate-developer-turned-prefab-home-builder-veev-closes-on-400m-in-funding/amp/

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Housing targets will be exceeded this year, minister claims: Last year the Government announced plans to spend €4bn annually on building 33,000 new homes every year by the end of the decade. https://www.irishexaminer.com/news/politics/arid-40820145.html

 

• Housing Commission will examine Austrian model of ringfencing taxes to pay for house-building fund: Referendum on right to housing expected as 1.5pc of all tax could go towards new homes  https://m.independent.ie/irish-news/housing-commission-will-examine-austrian-model-of-ringfencing-taxes-to-pay-for-house-building-fund-41401426.html

 

• International customers snap up big country houses and estates, new report shows: 39pc of large rural land buyers come from abroad https://m.independent.ie/business/farming/farm-property/international-customers-snap-up-big-country-houses-and-estates-new-report-shows-41395679.html

 

 

• Starter homes ‘will soon be out of reach for first-time buyers’, says CEO of largest residential developer  https://m.independent.ie/irish-news/starter-homes-will-soon-be-out-of-reach-for-first-time-buyers-says-ceo-of-largest-residential-developer-41409520.html

 

• Government determined to bring “Housing for All”: The “First Home” Affordable Purchase Shared Equity Scheme sees the State stepping in to help people buy their own homes — viewed as normal practice a couple of decades ago https://www.irishexaminer.com/property/developmentconstruction/arid-40821186.html

 

• Rural drift and other trends in Ireland’s new housing market: Now that normality is re-establishing itself, one big question is whether or not rural drift will be a permanent trend?  https://www.irishexaminer.com/property/developmentconstruction/arid-40821192.html

 

• O’Brien faces internal pressure over fears new mica report could add €300m to cost of redress scheme: New report, which recommends higher costs for fixing mica houses, has been opposed by some senior civil servants  https://www.businesspost.ie/houses/obrien-faces-internal-pressure-over-fears-new-mica-report-could-add-eur300m-to-cost-of-redress-scheme-f25a524d

 

• Limerick apartments ‘within walking distance’ of new €400m Lilly Raheen plant site: Sixteen fully-let apartments  have an income of €252,300 pa and are being sold by ‘best bids’ by March 10, guiding €3.75 million https://www.irishexaminer.com/property/commercial/arid-40820394.html

 

• Public event highlights vacant and derelict properties in Limerick  https://www.limerickleader.ie/news/home/756525/public-event-highlights-vacant-and-derelict-properties-in-limerick.html

 

• Laois Records Highest Rise In Commercial Vacancies In Ireland Last Year  https://www.midlands103.com/news/midlands-news/laois-records-highest-rise-in-commercial-vacancies-in-ireland-last-year/

 

• New platform aims to enable sellers to sell their properties themselves:  MySale.ie https://www.irishtimes.com/advertising-feature/mysale-ie/say-no-to-commission-fees-and-sell-your-property-yourself-with-mysale-ie-1.4812230?mode=amp

 

• Politicians cashing out of rental properties as house prices surge: Like many small landlords, Oireachtas members are taking advantage of high prices to turn a profit on real estate https://www.businesspost.ie/houses/politicians-cashing-out-of-rental-properties-as-house-prices-surge-51ffc7bb

 

• Will going Dutch cost me dearly when I buy a home in Ireland? Q&A: Like Ireland, paying a mortgage in Netherlands is cheaper than renting the same property https://www.irishtimes.com/business/personal-finance/will-going-dutch-cost-me-dearly-when-i-buy-a-home-in-ireland-1.4814352

 

 

• Your guide to cost effective home heating for new builds: If you are considering building a new home, then choosing the right heating system is a key decision https://www.irishtimes.com/advertising-feature/grant/your-guide-to-cost-effective-home-heating-for-new-builds-1.4811205?mode=amp

 

• Retreat to the zen zone: In need of an emotional escape in your home? Here’s how to carve out a soothing safe space  https://www.thetimes.co.uk/article/retreat-to-the-zen-zone-sjfldk6tv

 

• Ailesbury Road home secures €11.7m in biggest sale so far this year: Number 73 sits on an acre of landscaped gardens in the heart of Dublin’s embassy belt https://www.irishtimes.com/life-and-style/homes-and-property/ailesbury-road-home-secures-11-7m-in-biggest-sale-so-far-this-year-1.4816235

 

• Not exactly a bunker — golf star Shane Lowry’s major plans to revamp Rathgar home  https://extra.ie/2022/02/28/property/not-exactly-a-bunker-golf-star-shane-lowrys-major-plans-to-revamp-rathgar-home?amp=1 

 

• West Cork island full of old ruins and Kerry bog ponies goes up for sale: Located in Roaring Water Bay just between Schull and Cape Clear, the 64 acre island boasts four old buildings and has a strong marine biodiversity living around it https://www.corkbeo.ie/news/property/west-cork-island-full-old-23298767

 

• RTÉ’s Cheap Irish Homes looking for participants for series 3 https://kildare-nationalist.ie/2022/03/02/rtes-cheap-irish-homes-looking-for-participants-for-series-3/

 

• Designed to succeed: The women behind Ireland’s most stylish interiors: To celebrate International Women’s Day on Tuesday, we talked to six award-winning Irish interior designers and interior architects about their own style and the women who have inspired them https://www.businesspost.ie/design/designed-to-succeed-the-women-behind-irelands-most-stylish-interiors-4debf7c9

 

 

 

COMMERCIAL PROPERTY NEWS

• How employees with purpose bring more to the workplace | Workplaces are being reimagined, and right now the only certainty is that they are going to be very different in the future from what we know now, presenting both opportunities and challenge:  https://www.businesspost.ie/world-at-work/this-working-life-how-employees-with-purpose-bring-more-to-the-workplace-db1943fa

 

• CBRE today released their first bimonthly report for 2022, commenting on trends and transactions in all sectors of Ireland’s commercial property market: https://www.irishrealestate.news/irish-commercial-property-market-off-to-a-good-start-in-2022/

 

• Barings Real Estate Debt provides €225m for Irish logistics deals: Loans fund KKR and Palm Capital purchase of Core portfolio and Dublin last-mile assets https://www.irishtimes.com/business/commercial-property/barings-real-estate-debt-provides-225m-for-irish-logistics-deals-1.4813351

 

• McAleer & Rushe secures tenants for Kildress House office scheme: Proximo Spirits and Muzinich to pay over €55 per sq ft for fourth and fifth floors https://www.irishtimes.com/business/commercial-property/mcaleer-rushe-secures-tenants-for-kildress-house-office-scheme-1.4811206

 

• North Docklands office block offers 7,000 sq m of rental space: Modern spec facility at Two Gateway would be suitable as a HQ but also works well in a multi-tenanted scenario  https://www.businesspost.ie/commercial/north-docklands-office-block-offers-7000-sq-m-of-rental-space-537b7bd6

 

• EY and Citigroup, an American bank, begin the search for new bases. Meanwhile, Kennedy Wilson is close to securing a tenant for its newly built offices at 10 Hanover Quay. https://www.thetimes.co.uk/article/ey-and-citi-eye-new-dublin-office-space-5npxbtvt0 (pictured) 

 

• New €100m Travelodge Plus Dublin hotel closes to house asylum seekers: City centre property is second new Dublin hotel to sign exclusive deal with State https://www.irishtimes.com/business/new-100m-travelodge-plus-dublin-hotel-closes-to-house-asylum-seekers-1.4815611

 

• TikTok agrees heads of terms for two Dublin docklands offices: Social media giant weighs 12-year leases at Shipping Office and Tropical Fruit Warehouse https://www.irishtimes.com/business/commercial-property/tiktok-agrees-heads-of-terms-for-two-dublin-docklands-offices-1.4815394

 

• Eastpoint Business Park office block at €12.5m offers 6.72% yield: Dublin docklands investment is 73% let and generating €923,517 in annual rental income https://www.irishtimes.com/business/commercial-property/eastpoint-business-park-office-block-at-12-5m-offers-6-72-yield-1.4814250

 

• Landmark Stillorgan pub with potential seeking €1.5m: Boland’s set to benefit from arrival of over 1,000 new residents to south Dublin village https://www.irishtimes.com/business/commercial-property/landmark-stillorgan-pub-with-potential-seeking-1-5m-1.4812183

 

• McKillen jnr’s Press Up pays €3m for Ashton’s pub in Clonskeagh: Hospitality group acquires freehold interest in south Dublin pub from private investors  https://www.irishtimes.com/business/commercial-property/mckillen-jnr-s-press-up-pays-3m-for-ashton-s-pub-in-clonskeagh-1.4814090

 

• Hammerson confident of a bright future for UK shopping centres: Company’s portfolio of malls includes Dundrum Town Centre where it is co-owner https://www.irishtimes.com/business/commercial-property/hammerson-confident-of-a-bright-future-for-uk-shopping-centres-1.4818530

 

• Lidl boss has new stores in the bag  https://www.thetimes.co.uk/article/lidl-boss-has-new-stores-in-the-bag-mpz0vcpq9

 

• Vacant store in Limerick city centre sold after 14 years  https://www.limerickleader.ie/news/home/757247/vacant-store-in-limerick-city-centre-sold-after-14-years.html

 

• Large number of high profile retail units in Tullamore Shopping Centre up for sale for staggering sum  https://www.offalyexpress.ie/news/home/755590/large-number-of-high-profile-retail-units-in-tullamore-shopping-centre-up-for-sale-for-staggering-sum.html

 

• Offaly town has second highest commercial vacancy rate in Ireland  https://www.offalyexpress.ie/news/home/757407/offaly-town-has-second-highest-commercial-vacancy-rate-in-ireland.html

 

• High vacancy rates locally could be sign of more digital businesses  https://www.northernsound.ie/news/high-vacancy-rates-locally-could-be-sign-of-more-digital-businesses-190613

 

• Blessington shopping centre units for €145,000: The first-floor properties could be used for as retail or office space in a growing town between Dublin and Wicklow Mountains  https://www.businesspost.ie/commercial/blessington-shopping-centre-units-for-eur145000-d37edf86

 

• Killarney Outlet Centre is sold in deal worth more than €7m: Undisclosed new owners buy Kerry outlet centre https://www.irishexaminer.com/property/commercial/arid-40820262.html

 

INTERNATIONAL PROPERTY NEWS

• Winkworth completes deal to take over well-known estate agent https://propertyindustryeye.com/winkworth-takes-over-well-established-estate-agent/

 

• New photography book celebrates architectural beauty of council estates: New photo book is a vibrant compendium featuring 68 of London’s most innovative council buildings & housing estates https://www.digitalcameraworld.com/news/new-photography-book-celebrates-architectural-beauty-of-council-estates 

 

• Skanska has signed a £235m contract to redevelop the old House of Fraser department store in London’s Victoria Street. The client has stipulated that no fossil fuels will be used either during construction or in operation of the new building. https://www.theconstructionindex.co.uk/news/view/skanska-goes-all-electric-for-235m-victoria-development

 

• Office Properties Aren’t Joining US Commercial Real Estate’s Valuation Bonanza https://www.bisnow.com/national/news/capital-markets/rca-commercial-property-price-index-records-set-office-behind-112059

 

FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS

Crowd-sourcing answers topical property questions:    

 

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

 

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

 

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