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.
As expected, the broadsheets are dominated by coverage of Covid-19 (special mention to the Sunday Independent the editorial team manged to squeeze it into every story – the effects of the virus on political negotiations, business, start-ups, personal finance etc). The Business Post has a positive spread on the growing representation of women in property and constuction in honour of International Women’s Day 2020 – as our business was female-founded and remains female-led with 80% female staff, we live this stuff every day so perhaps it is more appropriate for us to acknowledge the men of the industry who have gone out of their way to support and push Property District… Whatever your gender, we appreciate your support. 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:
- Dermot Desmond: Everyone has a right to a home. Here is how it can be done https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/opinion/dermot-desmond-everyone-has-a-right-to-a-home-here-is-how-it-can-be-done-1.4195439?mode=amp
- Dublin Renters Union to protest outside luxury apartment block https://www.irishexaminer.com/breakingnews/ireland/dublin-renters-union-to-protest-outside-luxury-apartment-block-986130.html
- FORBES: Social Media Is The Biggest Factor In The New Real Estate Market
- Real People: The Biggest Weakness of Urban and Environmental Planning – Lawyers, Guns & Money https://www.lawyersgunsmoneyblog.com/2020/02/real-people-the-biggest-weakness-of-urban-planning
- Yvonne Farrell and Shelley McNamara: architects of their own success https://www.irishtimes.com/culture/art-and-design/yvonne-farrell-and-shelley-mcnamara-architects-of-their-own-success-1.4194097?mode=amp
- Work commences on the first new train station in Ireland in seven years
- Building houses must pay more than planning changes https://m.independent.ie/business/commercial-property/building-houses-must-pay-more-than-planning-changes-39015416.html
- The story of WeWork’s rise and fall https://www.irishtimes.com/business/technology/the-story-of-wework-s-rise-and-fall-1.4191489?mode=amp
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 firstname.lastname@example.org.
(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!)
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.
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
This week on Property Matters: Construction Reputation & Property Brand Management in the Digital Age
Topics discussed included: Reputation management, social media as an extension of brand and why this is important for business development, crisis communications, community engagement and public consultation in an era of serial objectors and populism.
Email the Property Matters team at hello@iPropertyRadio.com
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- ‘Tens of thousands of homes under threat’ by Gavin Daly in the Sunday Times: Plans for almost 31,000 houses, apartments in student accommodation spaces could be affected by a challenge to the fast-track residential planning system by three residents of Ballsbridge inDublin.
- New policy aims to improve turnaround time for vacant houses in Limerick – Limerick Leader https://www.limerickleader.ie/news/home/521294/new-policy-aims-to-improve-turnaround-time-for-vacant-houses-in-limerick.html
- Athenry study lays roadmap for future development of public spaces – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/athenry-study-lays-roadmap-for-future-development-of-public-spaces/
- Ailesbury Road residents launch challenge to fast-track planning laws | Business Post https://www.businesspost.ie/legal/ailesbury-road-residents-launch-challenge-to-fast-track-planning-laws-8346dce7
- Plan to revitalise Limerick City Centre unveiled by #Limerick City and County Council | Limerick.ie https://www.limerick.ie/council/newsroom/news/plan-revitalise-limerick-city-centre-unveiled-limerick-city-and-county
- Further public consultation on bus corridor plans: There were a total of 13,000 submissions during the first round of public consultation
- Euronews Living | Billionaire building idyllic village in Scotland faces local backlash https://www.euronews.com/living/2020/03/05/dutch-billionaire-plans-to-build-idyllic-village-in-scotland-to-stop-land-becoming-derelict
- ‘Overambitious’ about placemaking? We’ve only just started… https://www.artsprofessional.co.uk/magazine/article/overambitious-about-placemaking-weve-only-just-started
*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
- Nama likely to miss target of delivering 20,000 new homes | Business Post: Nama has so far only managed to directly fund the completion of 11,700 homes with ten months to go https://www.businesspost.ie/property/nama-likely-to-miss-target-of-delivering-20000-new-homes-fd5b8f44
- ‘Donohoe was warned BAM could sue over children’s hospital’ by Peter O’Dwyer in the Business Post today.
- Why can’t we build apartments like the rest of Europe? https://www.irishtimes.com/business/construction/why-can-t-we-build-apartments-like-the-rest-of-europe-1.4194264?mode=amp
- Rezoning of Dublin city lands for up to 3,500 homes is delayed by council https://www.irishtimes.com/news/environment/rezoning-of-dublin-city-lands-for-up-to-3-500-homes-is-delayed-by-council-1.4190857?mode=amp
- Co-living plan for property at centre of housing protests gets go-ahead | Business Post https://www.businesspost.ie/residential/co-living-plan-for-property-at-centre-of-housing-protests-gets-go-ahead-2bae6ef9
- DIT Aungier Street campus hits the market at €110m https://www.irishtimes.com/business/commercial-property/dit-aungier-street-campus-hits-the-market-at-110m-1.4191508?mode=amp
- Ballsbridge block on sale for second time in a year https://www.irishtimes.com/business/commercial-property/ballsbridge-block-on-sale-for-second-time-in-a-year-1.4190254?mode=amp&__twitter_impression=true
- Residential site in Dublin’s Silicon Docks sold for €4m https://www.irishtimes.com/business/commercial-property/residential-site-in-dublin-s-silicon-docks-sold-for-4m-1.4187911?mode=amp
- Dublin City Council will not seek judicial review over St Anne’s Park apartments: Over 650 apartments to be built ‘immediately’ beside the park in Raheny https://www.irishtimes.com/news/environment/dublin-city-council-will-not-seek-judicial-review-over-st-anne-s-park-apartments-1.4191676?mode=amp
- Plan for 500 apartments on former Tallaght cigarette factory gets fast-tracked https://www.thetimes.co.uk/article/plan-for-500-apartments-on-former-tallaght-cigarette-factory-gets-fast-tracked-vvmg5snc7
- Legionaries of Christ sell south Dublin lands for €23m
- Dublin city to get first new cinema in years after An Bord Pleanála gives green light https://www.thejournal.ie/dublin-new-cinema-planning-permission-5033383-Mar2020/
- Student cites lack of parking in challenge to shared living development on Dublin pub site https://amp.irishexaminer.com/breakingnews/ireland/student-cites-lack-of-parking-in-challenge-to-shared-living-development-on-dublin-pub-site-985291.html
- Green light for development of up to 685 new homes in Shankill https://www.irishtimes.com/business/appeals-board-gives-green-light-to-joe-o-reilly-s-shankill-development-1.4191882?mode=amp
- Plans for hundreds of apartments may be halted for 50 year old motorway https://www.dublinlive.ie/news/dublin-news/apartments-east-wall-dublin-m50-17846400.amp
- Cairn Homes’ 2019 revenues and profits rise https://www.rte.ie/amp/1119847/
- Lone Star’s Quintain secures planning for 153 homes in Portmarnock https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/construction/lone-star-s-quintain-secures-planning-for-153-homes-in-portmarnock-1.4191726?mode=amp
- Revised designs for 34-storey skyscraper on Custom House Quay https://amp-irishexaminer-com.cdn.ampproject.org/c/s/amp.irishexaminer.com/breakingnews/ireland/revised-designs-for-34-storey-skyscraper-on-custom-house-quay-986237.html
- Call for crackdown on contractors dumping waste at Ballyfermot site after council spends €500k on cleanup https://www.thejournal.ie/travelling-labre-ballyfermot-5030619-Mar2020/
- Thieves target Naas building site https://www.kildarenow.com/news/home/522185/thieves-target-naas-building-site.html
- Development plans being finalised for site of former Corrib Great Southern Hotel – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/development-plans-being-finalised-for-site-of-former-corrib-great-southern-hotel/
- An Bord Pleanála backs city council’s refusal of plan to redevelop Hynes Building – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/an-bord-pleanala-backs-city-councils-refusal-of-plan-to-redevelop-hynes-building/
- Planning permission granted for recycling facility at old Atlantic factory site in Clondra: Conditional planning permission has been granted to develop a major recycling facility at the site of the old Atlantic Mills factory in Clondra, just outside Longford town.
Letters have been issued this morning confirming that plans to develop a recycling and processing facility have been approved subject to 16 conditions
- Planning permission sought for battery park development site in Coderry – Ocean FM https://www.oceanfm.ie/2020/03/05/planning-permission-sought-for-batter-park-development-site-in-coderry/
- CRH chief Albert Manifold’s pay package rises 13% to €9.31m https://www.irishtimes.com/business/construction/crh-chief-albert-manifold-s-pay-package-rises-13-to-9-31m-1.4195393?mode=amp
- Northern Irish housing association to build 550 new homes in €86m project https://www.irishtimes.com/business/construction/northern-irish-housing-association-to-build-550-new-homes-in-86m-project-1.4190814
- Grenfell architect apologises to victims at inquiry
- World’s tallest modular building lights up Croydon skyline https://www.pbctoday.co.uk/news/modular-construction-news/worlds-tallest-modular-building/72862/ (pictured below)
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 *
- European proptech is on the rise, as sector funding grows 550% in five years: research report – Tech.eu https://tech.eu/brief/proptech-trends-proptech1-ventures-research-report/
- Prefabrication and Industrialized Construction Could be the Solution to the Future of Infrastructure https://interestingengineering.com/the-construction-industry-is-shifting-to-manufacturing-and-mass-production
- Office Pre-Move Guide – The Role of Proptech in Finding the Right Spot https://www.business2.com.au/2020/03/office-pre-move-guide-the-role-of-proptech-in-finding-the-right-spot/
- The Rise of Proptech and Its Impact on Home Buying and Selling | Builder Magazine https://www.builderonline.com/design/technology/the-rise-of-proptech-and-its-impact-on-home-buying-and-selling_o
- Property Log Books – PropTech expert wants cross-industry support
- Proptech start-ups that could change the way you buy, sell and let your home: The UK is leading the way in Europe for investment in so-called proptech. The Saïd Business School at the University of Oxford says that by June last year more than £3.844 billion had been invested in 805 UK proptech companies — five times more than was invested in the sector in Germany. #proptech
- Proptech 2020: The holy grail of data
- Procore Filed S-1 For Initial Public Offering https://therealdeal.com/2020/03/02/construction-startup-procore-files-initial-ipo-paperwork/
- Knock Knock: Ex-Purplebricks duo pledge to “shake up industry” https://www.estateagenttoday.co.uk/breaking-news/2020/3/knock-knock-new-hybrid-wants-agents-shaking-up-the-industry
- Relationships in real estate in an era of PropTech https://eliteagent.com/relationships-in-real-estate-in-an-era-of-proptech/
- How PropTech Startups Can Avoid the Scaling Struggles | Propmodo https://www.propmodo.com/how-proptech-startups-can-avoid-the-scaling-struggles/
- The Property Management Sector Needs More Innovation, Says Proptech Expert – Ctech https://m.calcalistech.com/Article.aspx?guid=3797903
- Co-living European startup Colonies raises $34M – TechCrunch #coliving
- Kenoteq launches brick made almost entirely of construction waste https://www.dezeen.com/2020/03/02/kenoteq-k-briq-brick-construction-waste/
- 50 tips for better BIM coordination meetings: The definitive list.
- Agents’ safety boosted by PropTech location alarms… https://www.estateagenttoday.co.uk/breaking-news/2020/3/agents-safety-boosted-by-proptech-location-alarm-system
- Proptech: Startup hybrid estate agent nu:move Quickly Hits £150,000 Goal on Seedrs https://www.crowdfundinsider.com/2020/03/158254-proptech-startup-numove-quickly-hits-150000-goal-on-seedrs/
- GoReport is working with the Royal Institution of Chartered Surveyors (RICS), Society of Chartered Surveyors Ireland (SCSI) and The Survey Association (TSA) on a PropTech survey that will help provide intelligence on a range of issues such as levels of adoption, skills gap and challenges that may exist. The responses will help shape the future support, training and information that can be made available.
PropTech Survey 2020 https://lnkd.in/dCQccMf
OTHER PROPERTY NEWS
- The Lucky Club – Why Ireland has demographics on its side, by Conor Skehan
in the Sunday Independent today: Changing demographics will throw up big surprises around the world during the rest of this century
‘There is no reason to believe that this will change any time soon, unless we become infected with smug complacency, fashionable cynicism or ideological stupidity.’
- As the discussions about forming a government continue, the financial constraints, invisible during a carefree election campaign, are closing in. There is already evidence of a tourism slowdown due to the coronavirus. It was never guaranteed, anyway, that the next government would be awash with tax revenue and spending options. The incoming team, whatever its composition, will have to make choices, which means that affordable projects will have to take priority over the visionary stuff.
During the election there were promises of extensive rail-based public transport schemes, including light rail in provincial cities, a high-speed link all the way from Belfast to Cork and several underground tram and rail routes for Dublin…
- Also in the Sunday Independent today: The original holding company for the four-star Co Donegal hotel Harvey’s Point has been placed into members voluntary liquidation, with net assets worth nearly €9.1m, Ergo has learnt. This is a technical move following its sale. In a recently submitted filing with Companies Registration Office, the original company was wound up with assets worth €9.7m and liabilities worth nearly €650,000.
- AIB to finance development of 10,000 homes this year as demand increases despite coronavirus and Brexit fears: That is a pretty significant increase in the volume of homes that we are building around Ireland,” chief executive Colin Hunt told the Sunday Independent. Based on the current pipeline, more than 1,000 of the homes will be social housing units.
- In The Sunday Times – Revealed: how Michael McDowell took a bath on UK property deal: Senator Michael McDowell, a former attorney general and justice minister, has declared an interest in a property syndicate that made big losses on a commercial property deal in London.
McDowell and his wife, Niamh Brennan, a lecturer in corporate governance at UCD, invested in a 2006 fund set up to buy 33 Old Broad Street in London, which is described as a “landmark office building in the City of London”. The investment is included in his annual Seanad register of interests.
- US group Cortland to forward-fund Johnny Ronan’s Spencer Place; Cortland, a US group that owns thousands of rental apartments, is finalising a €250m deal to forward-fund more than 470 apartments being built by developer Johnny Ronan at Spencer Place in the Dublin docklands.
Property sources said Atlanta-based Cortland had agreed a deal to fund and acquire the apartments at the Spencer Place site, which will also house a hotel and headquarters for software group Salesforce. Spencer Place is being developed by Ronan Group Real Estate (RGRE) and US funder Colony Capital.
- In the Business Post: Ronan’s ‘party wall’ causes ructions with property firm Clancourt: Johnny Ronan’s office development at Four Park Place near Hatch Street, Dublin 2 is causing a rift between Ronan and Kevin Kenny of Clancourt
- Also in the Business Post, recently-appointed MD of Lisney is the featured executive interview this week; he speaks about the importance of earning respect and credits the team for his success to date.
- Social and cost rental housing at new Inchicore estate
- First-time buyers need incomes of €100,000 to buy new homes in Dublin https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/economy/first-time-buyers-need-incomes-of-100-000-to-buy-new-homes-in-dublin-1.4190725?mode=amp
- ‘They are not living extravagant lives’: 1 in 3 renters in debt struggling to meet repayments, think-tank says https://www.thejournal.ie/tasc-renters-squeezed-5031044-Mar2020/
- The smart way to sell a rented property: Selling with tenants in situ can be problematic but there are ways to keep everyone happy
- Airbnb agrees deal to share data with local authorities in Europe https://www.irishtimes.com/business/technology/airbnb-agrees-deal-to-share-data-with-local-authorities-in-europe-1.4194061?mode=amp
- Galway City Council exceeds target for social housing delivery https://connachttribune.ie/galway-city-council-exceeds-target-for-social-housing-delivery/
- Could Danish co-op model solve Ireland’s housing problems? https://www.irishtimes.com/business/innovation/could-danish-co-op-model-solve-ireland-s-housing-problems-1.4185561?mode=amp
- New line of prefab homes emphasizes custom design