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:
- Each Local Rep From The Liberties On Co-Living And Student Builds https://extra.ie/2020/11/08/news/irish-news/the-liberties-co-living
- Policy on student accommodation and housing ‘not working’, says Harris https://www.irishexaminer.com/news/arid-40080956.html
- Residents seek to challenge approval for Hellfire Club visitor centre: Project being developed by Coillte and Dublin Mountains Partnership at cost of €15m https://www.irishtimes.com/news/crime-and-law/courts/high-court/residents-seek-to-challenge-approval-for-hellfire-club-visitor-centre-1.4408523?mode=amp
- Data centres must build own power supplies amid demand concerns: Energy-hungry centres are expected to make up 29 per cent of Ireland’s entire electricity use by 2025 https://www.businesspost.ie/energy/data-centres-must-build-own-power-supplies-amid-demand-concerns-b8e82a94
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.
Email the Property Matters team at hello@iPropertyRadio.com
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Proposal for Liberties Creative Campus: €19 million ‘creative campus’ would create workspaces for artists in the city centre https://libertiesdublin.ie/liberties-creative-campus-to-provide-space-for-artists-and-local-residents/
- Consultation to start on Sutton to Malahide Way https://m.independent.ie/regionals/fingalindependent/news/consultation-to-start-on-sutton-to-malahide-way-39725069.html
- Relief schemes can’t come soon enough for flood-hit communities: Long-term impact on lives and livelihoods can be devastating https://www.irishexaminer.com/farming/arid-40081670.html?type=amp
- Cualanor and Honeypark in Dun Laoghaire show how to create happy places: Developers and planners are pulling together to create shared spaces for the public https://www.thetimes.co.uk/article/cualanor-and-honeypark-in-dun-laoghaire-show-how-to-create-happy-places-mv3m77hcb
- Dublin Port’s big plans to make area pedestrian and cyclist accessible from city https://www.dublinlive.ie/news/dublin-news/dublin-port-pedestrian-cycle-lane-19263980
- Cork-Limerick motorway: #Publicconsultation set to begin https://www.irishexaminer.com/news/munster/arid-40081799.html?type=amp
- ‘Bristling with energy’: The Irish town regenerated by Covid-19 https://www.irishtimes.com/life-and-style/homes-and-property/bristling-with-energy-the-irish-town-regenerated-by-covid-19-1.4406535?mode=amp
- Completed greenway expected by mid 2022: Latest allocation of €6.4m for Blessington E-Greenway will pave the way for works to commence early next year https://amp.independent.ie/regionals/wicklowpeople/news/completed-greenway-expected-by-mid-2022-39730842.html
- Huge Greenway boost for East Cork as €10m is granted for Midleton-Youghal link: The 23km greenway along the former rail line will bring huge benefits for the people and commerce of East Cork https://www.corkbeo.ie/news/local-news/huge-greenway-boost-east-cork-19246552
- Carlow Nationalist — Nurney Villa gets green light for playing pitch | Carlow Nationalist https://carlow-nationalist.ie/2020/11/11/nurney-villa-gets-green-light-for-playing-pitch/
- Ireland Set To Get A New Kerry Greenway As Planning Permission Granted https://extra.ie/2020/11/13/must-see/ireland-set-to-get-a-new-greenway-as-planning-permission-granted
*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
- Fast-track housing scheme delivers fewer than 700 dwellings: A total of 43,000 homes have been given go-ahead through the Strategic Housing Development system, but developers say a lot of the planning permissions were only recently approved https://www.businesspost.ie/ireland/fast-track-housing-scheme-delivers-fewer-than-700-dwellings-ac01529a
- Land sales decline by 73% as Covid hits development market: Report by Cushman & Wakefield reveals impact of pandemic https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/land-sales-decline-by-73-as-covid-hits-development-market-1.4406351?mode=amp
- ‘Use it or lose it’ law being drafted for planning permissions https://www.irishtimes.com/news/politics/use-it-or-lose-it-law-being-drafted-for-planning-permissions-1.4405671?mode=amp
- New construction orders rise for first time in 3 months https://amp.rte.ie/amp/1176894/
- Construction of houses increased last month but industry is still suffering – Pandemic continues to affect building sector, survey shows https://m.independent.ie/business/personal-finance/property-mortgages/construction-of-houses-increased-last-month-but-industry-is-still-suffering-39722139.html
- Cork city moves closer to biggest redevelopment in its history https://www.irishexaminer.com/news/munster/arid-40078703.html?type=amp
- Up to 60 ‘supersize’ wind turbines planned for Dublin Bay: Location 10km from Dublin capable of generating electricity for 600,000 homes https://www.irishtimes.com/news/environment/up-to-60-supersize-wind-turbines-planned-for-dublin-bay-1.4403656?mode=amp
- NCH deadline now unknown due to BAM row: BAM has yet to submit new programme of works on the children’s hospital to show how it can make up for time lost during construction site shutdown caused by pandemic https://www.businesspost.ie/ireland/nch-deadline-now-unknown-due-to-bam-row-5e378752
- Councillors to meet over Oscar Traynor site housing development https://www.rte.ie/news/dublin/2020/1110/1177300-oscar-traynor-site-deal/
- Dublin residential rental portfolio of up to 550 units seeks €170m-plus https://www.irishtimes.com/business/commercial-property/dublin-residential-rental-portfolio-of-up-to-550-units-seeks-170m-plus-1.4405516?mode=amp
- Twinlite begins delivery of 101 apartments in Dalkey https://www.irishtimes.com/business/commercial-property/twinlite-begins-delivery-of-101-apartments-in-dalkey-1.4405506?mode=amp
- Bartra refuses to increase size of bedrooms in D4 shared co-living scheme https://www.irishtimes.com/business/economy/bartra-refuses-to-increase-size-of-bedrooms-in-d4-shared-co-living-scheme-1.4404713?mode=amp
- Dublin misses target to build social housing: Building 90 homes was a significant drop compared with the 264 new homes delivered by the council in 2018, and was far below the council’s target to build 302 new homes directly last year. https://www.thetimes.co.uk/article/dublin-misses-target-to-build-social-housing-q6lpfgd5z
- €1.5m for Dublin city centre site with scope for hotel https://www.irishtimes.com/business/commercial-property/1-5m-for-dublin-city-centre-site-with-scope-for-hotel-1.4404562?mode=amp
- N7 construction workers “treated appallingly” cannot have €1.2m damages enforced https://www.breakingnews.ie/ireland/n7-construction-workers-treated-appallingly-cannot-have-e1-2m-damages-enforced-1031630.html
- €10m State-owned plot avoids vacant-site fine https://www.irishexaminer.com/news/arid-40079639.html
- US tech firm investing €78m into new Research and Development centre in Cork https://www.irishexaminer.com/business/companies/arid-40080617.html
- An Bord Pleanála ignores inspector’s recommendation on student housing https://connachttribune.ie/an-bord-pleanala-ignores-inspectors-recommendation-on-student-housing/
- Decision due this week on 11 storey city hotel plans https://www.galwaydaily.com/news/decision-due-this-week-on-11-storey-city-hotel-plans/
- Former Corrib Great Southern Hotel to be demolished next month – https://galwaybayfm.ie/galway-bay-fm-news-desk/former-corrib-great-southern-hotel-to-be-demolished-next-month/
- New lease of life for former Limerick nightclub https://www.limerickleader.ie/news/home/587942/new-lease-of-life-for-former-limerick-nightclub.html
- Big changes planned for Ardenode Stud by Kildare developer Sean Mulryan – Plans due to be lodged soon: https://www.kildarenow.com/news/home/588403/big-changes-planned-for-ardenode-stud-by-kildare-developer-sean-mulryan.html
- Bord Pleanala refuses planning permission for a 64 houses close to Kildare town. – Leinster Leader https://www.leinsterleader.ie/news/home/588739/bord-pleanala-refuses-planning-permission-for-a-64-houses-close-to-kildare-town.html
- High Court overturns permission for 167 homes in Duleek: Local residents claimed An Bord Pleanála had no jurisdiction to grant permission https://www.irishtimes.com/news/crime-and-law/courts/high-court/high-court-overturns-permission-for-167-homes-in-duleek-1.4408592?mode=amp
- Tipp kart track approved by An Bord Pleanala – Tipp FM http://tippfm.com/news/tipp-kart-track-approved-bord-pleanala/
- Planning permission refused for human crematorium in Broomfield https://www.northernsound.ie/planning-permission-refused-human-crematorium-broomfield/
- What’s planned for your area https://carlow-nationalist.ie/2020/11/13/whats-planned-for-your-area-21/
- Planning application lodged for Tydavnet development that would see the construction of 13 homes – Northern Sound https://www.northernsound.ie/planning-application-lodged-tydavnet-development-see-construction-13-homes/
- TIDL manufactures one of the largest ever phenolic pipe supports for Irish project https://constructionnews.ie/tidl/amp/
- Profit, revenue rises at Grafton as demand bounces back: Pent-up lockdown demand lifts Woodies, Chadwicks units https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/construction/profit-revenue-rises-at-grafton-as-demand-bounces-back-1.4407293?mode=amp
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 *
- Foster + Partners explores using robot dog on construction sites https://archinect.com/news/article/150237271/foster-partners-explores-using-robot-dog-on-construction-sites
- Proptech counted among top startup sectors likely to shape the post COVID-19 era https://www.eu-startups.com/2020/11/top-startup-sectors-likely-to-shape-the-post-covid-19-era/
- Top 10 things to consider before picking rental payment PropTech https://www.estateagenttoday.co.uk/features/2020/11/top-10-things-to-consider-before-picking-rental-payment-proptech
- PropTech, Digital Transformation And The Ripple Effects Of WFH | AllWork.Space https://allwork.space/2020/11/proptech-digital-transformation-and-the-ripple-effects-of-wfh/
- Proptech : The first Spanish investment of the Santander startup fund https://www.explica.co/the-first-spanish-investment-of-the-santander-startup-fund/
- Patrizia invests in North American proptech VC Camber Creek | Patrizia has extended its property technology portfolio into North America via a partnership with Camber Creek. The €45bn real assets manager has invested an undisclosed amount in Camber Creek Fund III, a proptech fund which has raised $155m (€128m) at final close. The fund will invest in real estate technology companies operating in areas like construction, development, asset management and leasing. https://realassets.ipe.com/news/patrizia-invests-in-north-american-proptech-vc-camber-creek/10048845.article
- Tishman Speyer has launched a $300 million blank check company that will invest in proptech firms, according to an S1 filed with the SEC Monday: https://commercialobserver.com/2020/11/tishman-speyer-launches-300m-spac-to-invest-in-proptech/
RESIDENTIAL PROPERTY NEWS (including PRS)
- Rent costs rise in four of Ireland’s five major cities – Rent prices in Cork, Galway, Limerick and Waterford cities have risen compared to last year. https://www.thejournal.ie/housing-crisis-ireland-rents-5260710-Nov2020/?amp=1
- Only 15pc of private tenants are renting by choice – survey https://amp.independent.ie/irish-news/only-15pc-of-private-tenants-are-renting-by-choice-survey-39733918.html
- Generation Rent: Similarities will resonate deeply with Irish readers https://www.irishtimes.com/culture/books/generation-rent-similarities-will-resonate-deeply-with-irish-readers-1.4401072?mode=amp
- Ireland’s biggest landlord sells Dublin apartments to international fund manager https://dublinpeople.com/news/southside/articles/2020/11/11/23552/?amp
- Cosgraves secure €123.5m sale of nearly 300 Santry apartments: Round Hill Capital and QuadReal Property Group agree to buy Blackwood Square scheme https://www.irishtimes.com/business/commercial-property/cosgraves-secure-123-5m-sale-of-nearly-300-santry-apartments-1.4407756?mode=amp
- Peter McVerry Trust to deliver over 210 social housing units in Ireland in the next 12 months | JOE.ie https://www.joe.ie/amp/news/peter-mcverry-trust-social-housing-units-708417
- Landlord ordered to pay 80-year-old tenant €12,000 compensation https://www.irishtimes.com/news/crime-and-law/landlord-ordered-to-pay-80-year-old-tenant-12-000-compensation-1.4404774?mode=amp
COMMERCIAL PROPERTY NEWS
- Strong uptick in activity for Cork’s property market: With big developments being green-lit and significant deals coming to fruition, things are looking bright https://www.businesspost.ie/commercial/strong-uptick-in-activity-for-corks-property-market-271c9b74
- Brexit: UK food groups race for Irish stockpiling space https://www.irishtimes.com/business/commercial-property/brexit-uk-food-groups-race-for-irish-stockpiling-space-1.4406469?mode=amp
- Offices must evolve to survive and thrive in the post-Covid era https://www.irishtimes.com/business/commercial-property/offices-must-evolve-to-survive-and-thrive-in-the-post-covid-era-1.4405408?mode=amp
- Central Bank seeks €110m for Spencer Dock property: Sale proceeds to help offset bank’s €205m purchase of Dublin Landings blocks in 2019 https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/central-bank-seeks-110m-for-spencer-dock-property-1.4405734?mode=amp
- French investor pays €180m for Fitzwilliam 28: Amundi purchases Dublin office block fully let to Slack Technologies https://www.irishtimes.com/business/commercial-property/french-investor-pays-180m-for-fitzwilliam-28-1.4407395?mode=amp
- Eason faces legal action over rent arrears https://amp.independent.ie/business/irish/eason-faces-legal-action-over-rent-arrears-39734291.html
- Vast Cork former TB sanitorium complex available for the price of a bungalow: https://www.irishexaminer.com/property/commercial/arid-40080407.html?type=amp
- Office space to rent could put professional services in the driving seat https://www.irishexaminer.com/property/commercial/arid-40080218.html
INTERNATIONAL PROPERTY NEWS
- How are UK tenants changing their outlook: “Almost a quarter of tenants surveyed said that they would be renting long term…” https://www.lettingagenttoday.co.uk/breaking-news/2020/11/how-are-tenants-changing-their-outlook-in-the-coronavirus-crisis
- UK Construction employment drops to lowest level since 2013 https://www.constructionnews.co.uk/data/construction-employment-drops-to-lowest-level-since-2013-10-11-2020/
- Land Securities, one of Britain’s biggest property companies, has written down the value of its portfolio by almost £1bn but said interest in the London office market remained strong, with a growing focus on health and wellbeing: https://www.theguardian.com/business/2020/nov/10/land-securities-property-portfolio-dividend-piccadilly-bluewater-half-year-pre-tax-loss
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 want to ensure the content remains topical and we are 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/