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:
- Housing issue ‘parked’ as government formation talks enters third week https://www.irishexaminer.com/breakingnews/ireland/housing-issue-parked-as-government-formation-talks-enters-third-week-1001461.html
- Property sector develops protocol for re-opening https://www-rte-ie.cdn.ampproject.org/c/s/www.rte.ie/amp/1142731/
- Covid-19 to hit supply of new housing, warns I-RES REIT https://www.rte.ie/amp/1142841/
- End of June deadline for bank repayment break requests https://www.rte.ie/news/2020/0528/1143075-bank-forebearance/
- Sinn Féin draft plans for affordable housing scheme
https://www.irishexaminer.com/breakingnews/ireland/sinn-fein-draft-plans-for-affordable-housing-scheme-1002267.html
- Greens push for new homes close to transport hubs in coalition talks – Martin confirms FF, FG and the Greens all hope to have a government in place by the end of June
https://www.businesspost.ie/ireland/greens-push-for-new-homes-close-to-transport-hubs-in-coalition-talks-4a09c6cb
- Changing habits and an overvalued market: Why ill winds are blowing for the commercial property sector | The Currency
“… commercial property valuations had moved way above longer-term historical averages and that this was an area of potential vulnerability for the eurozone economy as a whole.”
https://www.thecurrency.news/articles/17824?utm_source=The+Currency&utm_campaign=deef9bcce3-EMAIL_CAMPAIGN_10_1_2019_6_49_COPY_39&utm_medium=email&utm_term=0_1b746aeee5-deef9bcce3-352325698
- Numbers seeking help from Dublin homeless charity up 20% in a week https://www.irishexaminer.com/breakingnews/ireland/numbers-seeking-help-from-dublin-homeless-charity-up-20-in-a-week-1001591.html
- ‘No plans’ to review coliving accommodation guidelines despite Covid-19 crisis, Murphy says https://www.thejournal.ie/co-living-eoghan-murphy-3-5107661-May2020/
- Unique High Court judicial review could affect planning permissions
Dublin 4 resident wants neighbour’s extension stopped over her right to light and energy rating:
https://www.businesspost.ie/legal/unique-high-court-judicial-review-could-affect-planning-permissions-181c3206
- Central Bank of Ireland publishes 2019 Annual Report & Annual Performance Statement | Lexology https://www.lexology.com/library/detail.aspx?g=28f42da2-2976-47b2-8da7-e4a372aebc21
- Important message from the CIF:
The Lighthouse Charity is launching a FREE 24/7 employee assistance programme and well-being app for all construction workers in Ireland. This service is free to you and your employees and can be very beneficial in terms of dealing with stress and mental health issues. A webinar is being held to launch the service to CIF members and the wider industry on Wednesday, 3rd June at 4pm. To book your place, follow the link below: https://us02web.zoom.us/webinar/register/WN_5TgzGtG-RIi7nxOXXdC3lQ
- FDI investment to the Republic to fall by 20% this year – The State is now in eighth spot in a ranking of most attractive European locations for FDI: https://www.irishtimes.com/business/economy/fdi-investment-to-the-republic-to-fall-by-20-this-year-1.4265091?mode=amp
- Cairn Homes, the quoted housebuilder, plans to provide garden rooms that can double as home offices at some of its developments, as it responds to changing buyer requirements.
The company has been seeking tenders from garden room manufacturers to supply up to 200 units a year: https://www.thetimes.co.uk/article/cairn-homes-plots-garden-offices-in-pandemic-grndr63pf
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.
Produced by Katie Tallon of Hear Me Roar Media.
Property Matters, 26th May 2020: New safety protocols for estate agents, Ballyshane House and world-leading proptech from MyHome.ie
Joining Carol Tallon on #PropertyMatters this week are:
Pat Davitt, CEO of IPAV, Eimear Malone, co-owner of Ballyshane house and John Callan, Head of Product and Client Solutions at MyHome.ie to talk about the new Covid19Ireland safety protocols for the industry, an alternative way of selling property and an exciting new proptech solution to enable estate agents to live stream property viewing by appointment.
Listen back here: https://ipropertyradio.com/property-matters-26th-may-2020-ipav-ballyshane-house-myhome-ie/
Listen back to all #PropertyMatters episodes here: https://ipropertyradio.com
Email the Property Matters team at hello@iPropertyRadio.com
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- The new best places to live as Covid-19 transforms property market, Conor Skehan https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/opinion/comment/the-new-best-places-to-live-39247237.html
- Residents get leave to challenge permission for St Anne’s Park flats development https://www.irishtimes.com/news/crime-and-law/residents-get-leave-to-challenge-permission-for-st-anne-s-park-flats-development-1.4265861?mode=amp
- Fingal’s €12 million greenway project connecting Malahide Castle to Newbridge House gets green light https://www.thejournal.ie/broadmeadown-greenway-planning-permission-fingal-5106835-May2020/
- Local group fails in appeal against Longford solar farm development – Longford Leader https://www.longfordleader.ie/news/home/543699/local-group-fails-in-appeal-against-longford-solar-farm-development.html
- All is changed, changed utterly: When it comes to the daily realities of living with Covid, there’s a big rural/urban divide. Three of our journalists relate their experiences
https://m.independent.ie/opinion/comment/all-is-changed-changed-utterly-39247212.html
- Government formation: ‘Rural Uber’ and new bus laybys agreed by parties https://www.irishexaminer.com/breakingnews/ireland/government-formation-parties-discuss-balanced-development-plan-for-rural-ireland-1002447.html
- Time for a right-of-way commission https://www.irishtimes.com/opinion/letters/time-for-a-right-of-way-commission-1.4262242?mode=amp
- EXPLAINER: Public participation period in planning returns to normal and here’s what it means – Offaly Express https://www.offalyexpress.ie/news/home/545365/explainer-public-participation-period-in-planning-returns-to-normal-and-here-s-what-it-means.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
- In The Sunday Times today – Why coronavirus’s effect on building costs in Ireland is unpredictable: Speculation about the impact of Covid-19 is rife, but facts and figures are thinner on the ground. There are good reasons for that
https://www.thetimes.co.uk/edition/ireland/why-coronaviruss-effect-on-building-costs-in-ireland-is-unpredictable-jpt3mpwmw
- No process for renewing Safe Passes which expired before 1st March 2020, due to COVID19
https://www.thecork.ie/2020/05/27/after-covid19-construction-workers-unable-to-renew-safe-passes/ This is also covered in the Business Post today: Construction workers stymied by Safe Pass shutdown – Minister says state training agency courses should immediately move online so building can fully resume at reopened building sites https://www.businesspost.ie/ireland/construction-workers-stymied-by-safe-pass-shutdown-b424f16d
- Player Wills site: Hines and APG to seek permission for 416 homes: Fast-track planning application will be made to An Bord Pleanala in the first phase of redevelopment at the seven-acre site
https://www.irishtimes.com/business/commercial-property/player-wills-site-hines-and-apg-to-seek-permission-for-416-homes-1.4261264?mode=amp
- Developer O’Flynn calls for task force to deal with housing crisis
Mr O’Flynn has also called on the Government to extend the help-to-buy scheme to 2025 (it is due to expire at the end of 2021). In addition, he has called for the Central Bank’s macroprudential rules on mortgage lending to be relaxed, and for the introduction of a loan scheme that would involve the State acquiring an equity stake in the home “secured by a second charge to bridge affordability”.
The developer also wants priority given to bringing derelict, underused sites and development land back into use, and to consider tax breaks to “support [the] viability of brownfield and infill development”.
https://www.irishtimes.com/business/commercial-property/developer-o-flynn-calls-for-task-force-to-deal-with-housing-crisis-1.4261318?mode=amp
- Dublin City Council consents to court orders overturning policy on basement construction: Two property development companies controlled by Paddy McKillen senior and his family have secured High Court orders on consent overturning a policy adopted by Dublin City Council concerning the construction of basements.
https://www.irishexaminer.com/breakingnews/ireland/dublin-city-council-consents-to-court-orders-overturning-policy-on-basement-construction-1001759.html
- An Bord Pleanala rules Roscommon developer pay 30k vacant site levy – Shannonside https://www.shannonside.ie/news/local/roscommon/bord-pleanala-rules-roscommon-developer-pay-30k-vacant-site-levy/
- Boost spending on capital projects to soften recession impact – engineers https://amp.independent.ie/business/irish/boost-spending-on-capital-projects-to-soften-recession-impact-engineers-39233922.html
- Five key takeaways from the task force on Dublin housing supply | Business Post
Construction activity jumped at the end of last year, driven by an increase in apartment building, but action on the government’s fast-track scheme was slow
https://www.businesspost.ie/property-insight/five-key-takeaways-from-the-task-force-on-dublin-housing-supply-f31fd88b
- Electrical contractors fear closure under new pay law https://www.irishtimes.com/business/construction/electrical-contractors-fear-closure-under-new-pay-law-1.4263118?mode=amp
- Johnny Ronan plans boutique hotel after paying €3.8m for Dublin docklands houses https://www.irishtimes.com/business/commercial-property/johnny-ronan-plans-boutique-hotel-after-paying-3-8m-for-dublin-docklands-houses-1.4261991?mode=amp
- More than 1,000 new homes proposed for Donnybrook and Dublin 8 | The Planner https://www.theplanner.co.uk/news/more-than-1000-new-homes-proposed-for-donnybrook-and-dublin-8
- Cairn Homes seeks permission for 611 apartments on RTÉ site https://www.irishtimes.com/business/construction/cairn-homes-seeks-permission-for-611-apartments-on-rt%C3%A9-site-1.4264227?mode=amp
- Irish housebuilder Lioncor Developments has received planning permission to develop its Dublin city centre Chatham House project into a six-storey “house of Europe”, which will be occupied by the European Commission representation and European Parliament liaison here.
The developer, led by chief executive John Maxwell, received permission this week for the development on Chatham Street, just metres from Grafton Street and the Westbury Hotel.
https://www.irishtimes.com/business/commercial-property/lioncor-gets-planning-permission-for-house-of-europe-project-1.4265971?mode=amp
- Marlet secures €33m from AIB for south Dublin build-to-rent scheme https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/marlet-secures-33m-from-aib-for-south-dublin-build-to-rent-scheme-1.4262981?mode=amp
- North Dublin lands with residential potential on sale for €450,000 https://www.irishtimes.com/business/commercial-property/north-dublin-lands-with-residential-potential-on-sale-for-450-000-1.4260218?mode=amp
- Butlers Chocolates threatened court action over Goodman plan – Independent.ie https://m.independent.ie/business/irish/butlers-chocolates-threatenedcourt-action-over-goodman-plan-39237023.html
- Charlie Chawke plans 290 apartments and hotel on Goat pub site https://www.irishtimes.com/business/construction/charlie-chawke-plans-290-apartments-and-hotel-on-goat-pub-site-1.4265070?mode=amp
- Housing approved for Citywest – but Stepaside plan rejected
https://m.independent.ie/business/personal-finance/property-mortgages/housing-approved-for-citywest-but-stepaside-plan-rejected-39245724.html
- PHP to invest €18m in Co Wicklow primary healthcare centre
Arklow GP clinic will be 17th in Ireland for London-listed investor
https://www.irishtimes.com/business/commercial-property/php-to-invest-18m-in-co-wicklow-primary-healthcare-centre-1.4264740?mode=amp
- Planning permission granted for 735 new Cork homes – The appeals board has granted planning permission to Cork company Longview Estates Ltd in spite of its own inspector recommending that planning permission be refused. The scheme is made up of 531 houses and 222 apartments on lands located in the townland of Lahardane in Ballyvolane, 3km north of Cork city.
https://www.rte.ie/news/business/2020/0529/1143413-cork-housing-development/
- 34-storey hotel in Cork docklands ‘would have adverse impact on existing businesses’ https://amp.irishexaminer.com/breakingnews/property/34-storey-hotel-in-cork-docklands-would-have-adverse-impact-on-existing-businesses-1002116.html
- Moore’s Hotel proposal in Cork city is delayed https://www.irishexaminer.com/breakingnews/property/moores-hotel-proposal-in-cork-city-is-delayed-1002113.html
- IDA tenders for Cavan site investment
The Industrial Development Authority (IDA) has issued a tender for contractors to extend existing infrastructure within its Business & Technology Park at Killygarry near Cavan Town.
https://www.anglocelt.ie/2020/05/28/ida-tenders-for-cavan-site-investment/
- Planning Permission For New Midlands Cinema Appealed https://www.midlands103.com/news/midlands-news/planning-permission-for-new-midlands-cinema-appealed/
- Fears that large scale housing plan could see Laois being a ‘guinea pig’ – Leinster Express https://www.leinsterexpress.ie/news/portlaoise-/546618/fears-that-housing-plan-could-see-laois-being-a-guinea-pig.html
- Councillor calls for planning applications for large housing developments in Celbridge and Kilcock to be rejected https://kildare-nationalist.ie/2020/05/29/councillor-calls-for-planning-applications-for-large-housing-developments-in-celbridge-and-kilcock-to-be-rejected/#.XtInXORw2Ec
- Permission granted for demolition of retail unit in Carlow despite appeal to An Bord Pleanála – Carlow Live https://www.carlowlive.ie/news/home/545353/permission-granted-for-demolition-of-retail-unit-in-carlow-despite-appeal-to-an-bord-pleanala.html
- Healy Rae again turned down for proposal to convert pub into apartments https://www.breakingnews.ie/ireland/healy-rae-again-turned-down-for-proposal-to-convert-pub-into-apartments-1002077.html
- Plans for hotel on site of petrol station on Killarney’s ‘Golden Mile’ turned down https://www.irishexaminer.com/breakingnews/ireland/plans-for-hotel-on-site-of-petrol-station-on-killarneys-golden-mile-turned-down-1002290.html
- Receiver appointed over assets of Victoria Homes – developer remains in a “strong financial position” with a strong equity position across all sites; https://www.businesspost.ie/companies/grins-lotus-group-appoints-receivers-over-a-number-of-victoria-homes-assets-f79a6c6c
- Planning appeal lodged over green light for an Equestrian Training Centre in Carlow – Carlow Live https://www.carlowlive.ie/news/home/546159/planning-appeal-lodged-over-green-light-for-an-equestrian-training-centre-in-carlow.html
- No Irish port ready to support construction of offshore wind farms – experts
https://m.independent.ie/business/irish/no-irish-port-ready-to-support-construction-of-offshore-wind-farms-experts-39242692.html
PROPTECH, MMC & CONSTRUCTION INNOVATION
- Proptech Ireland is updating the database of 2020 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 *
- Property professionals must see technology as an opportunity, not a threat:
The property industry as a sector has been slow to embrace technology, with many firms only dipping their toe in the water, but reluctant to dive in. Perhaps it’s the perceived threat from digital platforms – which enable buyers, sellers and solicitors to complete transactions online in a fraction of the time it would normally take – that has us questioning our relevance…
https://www.irishtimes.com/business/commercial-property/property-professionals-must-see-technology-as-an-opportunity-not-a-threat-1.4260177?mode=amp
- McKeon Group Develops Good2Go Construction App for the Industry: http://www.constructionnetworkireland.com/mckeon-group-develops-good2go-construction-app-for-the-industry/
- Carlow-based Xenon has secured €1m in funding for the company’s handsfree, infrared temperature testing device called Fever Defence: https://www-rte-ie.cdn.ampproject.org/c/s/www.rte.ie/amp/1143401/ – CEO Paddy Byrne will be interviewed on Property Matters (iPropertyRadio.com) next Tuesday.
- Scurri leads Ireland into new era for retail
https://www.thinkbusiness.ie/articles/scurri-ireland-future-retail-coronavirus-covid-19-pandemic/
- GoContractor gets construction Back to Work
https://www.irishbuildingmagazine.ie/2020/05/28/gocontractor-gets-construction-back-to-work/
- Clocr is a Tool to Make Planning Your Digital Estate Easy
https://www.entrepreneur.com/article/351235
- What’s Next For Real Estate And Proptech After Covid-19? https://www.forbes.com/sites/angelicakrystledonati/2020/05/27/whats-next-for-real-estate-and-proptech-after-covid-19/#265997f77694
- Elegran’s Alfred Is Light, Smart Proptech For NYC Agents – Inman https://www.inman.com/2020/05/29/elegrans-alfred-is-light-smart-proptech-for-nyc-agents/
- Intelligence Wars: With In-Person Gatherings Out, Proptech Steps In https://www.bisnow.com/national/news/technology/intelligence-wars-with-in-person-gatherings-out-proptech-steps-in-104461#ath
- The Social (Distancing) Network: Can Proptech Help Coronavirus Tracing? – Commercial Observer https://commercialobserver.com/2020/05/the-social-distancing-network-can-proptech-help-coronavirus-tracing/
- *Real founder and idea originator now holds 2.7% equity and ‘left’ founder position in April – toxic investors like this should come with a health warning*
’The high cost of high fashion: The finance and financiers behind Greg Kavanagh’s new online fashion play’ | The Currency
https://www.thecurrency.news/articles/17817?utm_source=The+Currency&utm_campaign=deef9bcce3-EMAIL_CAMPAIGN_10_1_2019_6_49_COPY_39&utm_medium=email&utm_term=0_1b746aeee5-deef9bcce3-352325698
- Airbnb’s pivot from short-term to long-term stays runs into legal roadblock in Vancouver – ThinkPol https://thinkpol.ca/2020/05/25/airbnbs-pivot-short-term-long-term-runs-legal-roadblock-vancouver/
- 18 fintechs that investors think will thrive post-lockdown | Sifted https://sifted.eu/articles/fintech-winners-lockdown/
OTHER PROPERTY NEWS
- In The Sunday Times today: It’s back to business for new home sales
From next week we can see properties in person, and agents are optimistic that demand will be high
https://www.thetimes.co.uk/article/its-back-to-business-for-new-home-sales-ngz553ncn
- New safety protocols you must adhere to before you can view a house https://www.irishexaminer.com/breakingnews/business/new-safety-protocols-you-must-adhere-to-before-you-can-view-a-house-1001809.html
- Coronavirus in Ireland: Dublin City University to offer students flexible accommodation
https://www.thetimes.co.uk/article/coronavirus-in-ireland-dublin-city-university-to-offer-students-flexible-accommodation-wd9klq8jt
- Anger as vacant houses in Tullamore are ‘left to rot’
https://www.offalyexpress.ie/news/home/546161/anger-as-vacant-houses-in-tullamore-are-left-to-rot.html
- Hundreds of Irish properties going under the hammer in worldwide online auction https://www.waterfordlive.ie/news/property/545671/hundreds-of-irish-properties-going-under-the-hammer-in-worldwide-online-auction.html
- Online auction platform sells 80% of properties at 10% over reserve
Youbid.ie’s first monthly national auction deemed a success after 11 of 13 lots sold for €1.2m https://www.businesspost.ie/commercial/online-auction-platform-sells-80-of-properties-at-10-over-reserve-76335329
- The Art of Property Staging: How to add value to your home or commercial space in preparation for sale or rental, by Natasha Rocca Devine, The Interiors NRD Studio
https://ipropertyradio.com/
- We are ‘sale agreed’, but can we go back with a lower offer? https://www.irishtimes.com/business/personal-finance/we-are-sale-agreed-but-can-we-go-back-with-a-lower-offer-1.4262206?mode=amp
- HIBERNIA REIT – Preliminary Results for the financial year to 31 March 2020 https://propertydistrict.ie/hibernia-reit-preliminary-results-for-the-financial-year-to-31-march-2020/
- Property values yet to feel full Covid impact – Hibernia Reit https://www.irishtimes.com/business/commercial-property/property-values-yet-to-feel-full-covid-impact-hibernia-reit-1.4263665?mode=amp
- The long and the short of it: the return of the short-term lease. Since 2019 there has been an increase in the supply of sub-lease space – and this looks likely to continue, by Fionnuala O’Buachalla: https://www.businesspost.ie/commercial/the-long-and-the-short-of-it-the-return-of-the-short-term-lease-cf106343
- Government faces ‘legal difficulties’ on eviction bans and rent holidays, warns attorney-general https://www.thetimes.co.uk/article/government-faces-legal-difficulties-on-eviction-bans-and-rent-holidays-warns-attorney-general-8xc32tzxb
- To open or not to reopen: the great retail quandary
With restrictions slowly being relaxed, more and more shops are opening for business again – but the long-term outlook remains deeply uncertain for most retail outlets https://www.businesspost.ie/commercial/to-open-or-not-to-reopen-the-great-retail-quandary-b57e5359
- New Host in Ireland Report Busts Data Centre Carbon Emissions Myth – Property District: https://propertydistrict.ie/new-host-in-ireland-report-busts-data-centre-carbon-emissions-myth/
- South Dublin office investment sells for €1.35m https://www.irishtimes.com/business/commercial-property/south-dublin-office-investment-sells-for-1-35m-1.4259580?mode=amp
- Apollo Global Management suspends sale of three Irish hotels
https://www.thetimes.co.uk/article/apollo-global-management-suspends-sale-of-three-irish-hotels-wplqqwswb
- Closed Co Kildare golf club now up for rent as possible ‘corporate HQ’ https://www.leinsterleader.ie/news/home/545130/closed-co-kildare-golf-club-now-up-for-rent-as-possible-corporate-hq.html
- Judge orders property fund to pay costs of dispute with Dublin furniture firm over warehouse access https://www.irishexaminer.com/breakingnews/ireland/judge-orders-property-fund-to-pay-costs-of-dispute-with-dublin-furniture-firm-over-warehouse-access-1002024.html
- Tech bosses Niall Turley, Louise Phelan and the Kielys buy up Lansdowne Place apartments
https://www.thetimes.co.uk/edition/ireland/tech-bosses-niall-turley-louise-phelan-and-the-kielys-buy-up-lansdowne-place-apartments-x3z9nvgbb
- Over Half Of Rebuilding Ireland Applications Rejected In Clare: http://www.clare.fm/news/half-rebuilding-ireland-applications-rejected-clare/
INTERNATIONAL PROPERTY NEWS
- The Maybourne Hotel Group, run by developer Paddy McKillen Snr, is opening a hotel in Beverly Hills, Los Angeles, its first outside London.
The hotel, formerly the Montage Beverly Hills, was acquired by Maybourne Hotel Group – which also operates London hotels Claridge’s, The Connaught and The Berkeley – late last year.
https://amp.independent.ie/business/world/mckillens-maybourne-to-open-beverly-hills-hotel-39245654.html
- Architecture for Emergencies: On-site Construction or Prefabrication? https://www.archdaily.com/939936/architecture-for-emergencies-on-site-construction-or-prefabrication
- Busiest day for estate agent as movers look for a quieter life – Some 400,000 property transactions had been put on hold during the lockdown and now Britain’s largest property website has recorded its busiest day, suggesting that millions may be gearing up to move house as the lockdown eases:
https://www.thetimes.co.uk/article/busiest-day-for-estate-agent-as-movers-look-for-a-quieter-life-rrxb80v0n