*Please note that from January 2020, the full Sunday Property Round-Up will only be available via email – to have this delivered directly into your inbox every Sunday morning (if I could include croissants and freshly-squeezed orange juice, I would!), please subscribe here:
Last week I reminded AEC business owners and marketing directors that the clock is ticking on rolling out Christmas and New Year campaigns. I got a few calls and emails asking why this is important – simply put, the holiday period is the best time to reach decision-makers across the industry with your content and to access potential new talent. Why? Busy people generally put reading projects out to the holidays when they will have more time to digest it and take action. Also, there is a natural tendency to review personal, professional and organisational performance on metrics other than financial at this time of the year i.e. thought leadership, innovation, tech adoption, CSR, social impact etc.
If you haven’t already put together a campaign, contact me directly on Carol@PropertyDistrict.ie or any of team at Property District. We can assist you through our C-Suite Advisory Services or by training your existing marketing function to incorporate New Media in your PR & Communications strategy.
The Sunday Business Post has now rebranded to Business Post, but other than the name it’s business as usual. 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:
- Firstly, well done to deputy business editor of the Sunday Independent, Fearghal O’Connor who won the ‘Business Story of the Year’ award at the NewsBrands Ireland Journalism Awards – RoarRipple – Latest business, finance, technology and innovation news https://roarripple.com/newsbrands-ireland-journalism-awards/
- Also, well done to Mark Tighe and Colin Coyle of The Sunday Times on their wins at the NewsBrands Ireland Journalism Awards 2019 – RoarRipple – Latest business, finance, technology and innovation news https://roarripple.com/the-sunday-times-win-at-newsbrands-ireland-journalism-awards-2019/
- The solution to Ireland’s housing crisis? Homes https://www.irishcentral.com/opinion/others/solution-irelands-housing-crisis-homes.amp
- Event: December 3rd 2019: Dublin Residential & Affordable Housing Review: HOW WILL DUBLIN’S RESIDENTIAL LANDSCAPE TRANSFORM IN 2020?
- This has the potential to be very positive – Councils warned to build new homes or lose powers – Independent.ie https://amp.independent.ie/irish-news/councils-warned-to-build-new-homes-or-lose-powers-38705039.html
- Better use of technology critical to future of real estate, investor says https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/better-use-of-technology-critical-to-future-of-real-estate-investor-says-1.4087031?mode=amp
- Staging your home | Buyers Broker International https://buyersbrokerinternational.com/2019/11/staging-your-home/
- The mental health and wellbeing of workers in the construction industry – via CIF, Property District: https://propertydistrict.ie/the-mental-health-and-wellbeing-of-workers-in-the-construction-industry/
- WeWork REIT. No Thanks. https://www.forbes.com/sites/bradthomas/2019/11/19/wework-reit-no-thanks/#6392fbe73a3e
- Quintain Ireland makes key appointments to management team – Property District: https://propertydistrict.ie/quintain-ireland-makes-key-appointments-to-management-team/
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.
Thomas Grey, research fellow at Trinity Haus, Trinity College Dublin, joins us in studio to talk about universal design concepts in placemaking, research into housing for our ageing demographic and the UrbanAge project.
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
Email the Property Matters team at hello@iPropertyRadio.com
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Killian Woods, writing in the Business Post today, reports that ‘Legal challenges taken against planning decisions reach a new high this year: Infrastructure and housing being delayed by cases, says government’. This is a huge problem and one that the PLACEengage.com team has been talking directly to property developers about – developers, please take 3 minutes to answer these 5 questions: *CLICK HERE FOR SURVEY*
- The Plight of the Urban Planner https://www.newyorker.com/books/under-review/the-plight-of-the-urban-planner
- Hundreds gather to oppose plan for over 650 apartments beside St Anne’s Park in Dublin
- War of words over funds threatening to derail massive housing project – Independent.ie https://m.independent.ie/irish-news/war-of-words-over-funds-threatening-to-derail-massive-housing-project-38701180.html
- New planning Bill on the horizon | PLACEengage https://placeengage.com/new-planning-bill-on-the-horizon/
- Thirty years of #Tallaght: Pete Smyth’s view from the inside https://www.irishtimes.com/culture/art-and-design/visual-art/thirty-years-of-tallaght-pete-smyth-s-view-from-the-inside-1.4083178?mode=amp
- K Club sold to nursing home operator TLC | PLACEengage https://placeengage.com/k-club-sold-to-nursing-home-operator-tlc/
- Public meeting breaks up as locals march on site of homeless hostel https://www.irishtimes.com/news/social-affairs/public-meeting-breaks-up-as-locals-march-on-site-of-homeless-hostel-1.4090116?mode=amp
- Aldi shop rumour sparks D4 planning opposition – Independent.ie https://amp.independent.ie/business/commercial-property/aldi-shop-rumour-sparks-d4-planning-opposition-38715555.html
- Who’s to Blame for Gentrification? Planners, Apparently https://www.planetizen.com/features/103960-whos-blame-gentrification-planners-apparently
- Placemaking faux pas:
Firm apologises to Grafton Street flower sellers over ‘clutter’ complaint https://www.irishtimes.com/news/ireland/irish-news/firm-apologises-to-grafton-street-flower-sellers-over-clutter-complaint-1.4090810?mode=amp
- Dublin People – Skate Park dream realised http://www.dublinpeople.com/news/northsideeast/articles/2019/11/22/4182429-skate-park-dream-realised/
*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
- Plans for 4,377 residential units put before planning board over five days https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/construction/plans-for-4-377-residential-units-put-before-planning-board-over-five-days-1.4088788?mode=amp
- Utility connection delays amid housing crisis are inexcusable https://www.irishtimes.com/business/construction/utility-connection-delays-amid-housing-crisis-are-inexcusable-1.4090096?mode=amp
- Plans for 500 build-to-rent apartments at Liam Cosgrave’s former home https://www.thejournal.ie/plans-for-600-apartments-at-liam-cosgraves-former-home-4897490-Nov2019/
- From the Business Post and Kingspan earlier this week:
Kingspan keeps guidance amid Brexit hit: Kingspan, the building materials group expects full-year trading profit to grow 10 per cent to €490 million, despite sales growth slowing to 2 per cent for the third quarter. The company reported that sales were up 1 per cent despite a 15 per cent reduction in order intake in Britain due to Brexit. Overall, our end markets are fragile reflecting an uncertain global macro backdrop. In particular, we are mindful of the deterioration in sentiment in some markets notably in the UK. This is likely to influence sales activity in the first quarter of 2020 at least,” Kingspan said. The company recently bought Group Bacacier, an integrated metal profiling and insulated panel distributor with a broad network across France of annual revenues of €190 million. Kingspan’s net debt for the end of the year is expected to be in the region of €700 million due to the acquisition of Group Bacacier.
- Developer expands activities on Naas Road with €9m deal – Independent.ie https://amp.independent.ie/business/commercial-property/developer-expands-activities-on-naas-road-with-9m-deal-38711435.html
- Boomtime developers target Monkstown mansion on 8 acres for 300 homes https://www.irishtimes.com/life-and-style/homes-and-property/boomtime-developers-target-monkstown-mansion-on-8-acres-for-300-homes-1.4088084?mode=amp
- An Bord Pleanála overturns council decision to approve plan for Kilcolgan homes https://connachttribune.ie/an-bord-pleanala-overturns-council-decision-to-approve-plan-for-kilcolgan-homes/amp/
- Experts call for combustible cladding ban to be widened https://www.theconstructionindex.co.uk/news/view/experts-call-for-combustible-cladding-ban-to-be-widened
- Firms merge to create 400-strong civils contractor | Construction Enquirer http://www.constructionenquirer.com/2019/11/20/firms-merge-to-create-400-strong-civils-contractor/
- Ronan gets permission for extra floor in Tara Street development https://www.irishtimes.com/business/commercial-property/ronan-gets-permission-for-extra-floor-in-tara-street-development-1.4091210?mode=amp
- Cork JCD building to become Ireland’s greenest building https://amp.irishexaminer.com/breakingnews/business/cork-jcd-building-to-become-irelands-greenest-building-965728.html
- National children’s hospital builder posts 12% fall in profits https://www.irishtimes.com/business/construction/national-children-s-hospital-builder-posts-12-fall-in-profits-1.4091272?mode=amp
- Further: Construction sector fragile, warns hospital builder BAM – Independent.ie https://amp.independent.ie/business/commercial-property/construction-sector-fragile-warns-hospital-builder-bam-38718220.html
- Old Penneys site in Carlow Town to be given a facelift with new planning application https://www.carlowlive.ie/news/home/495100/old-penneys-site-in-carlow-town-to-be-given-a-facelift-with-new-planning-application.html
- Lidl opens €100m distribution centre in Newbridge https://www.rte.ie/news/business/2019/1122/1094511-lidl-distribution-centre/
- Youths damaged social housing building site after hotwiring digger – Independent.ie https://m.independent.ie/irish-news/youths-damaged-social-housing-building-site-after-hotwiring-digger-38716819.html
- Kiely’s of Donnybrook set for high-end apartments and rooftop bar https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/kiely-s-of-donnybrook-set-for-high-end-apartments-rooftop-bar-and-restaurant-1.4091996?mode=amp
- Housing list preferences contradict planning refusal for Limerick village https://www.limerickleader.ie/news/home/495319/housing-list-preferences-contradict-planning-refusal-for-limerick-village.html
- Clare County Council Unveils €370m Capital Investment Plans – Projects include the already-announced new Ennis library, significant roads projects in Ennistymon and Killaloe and more housing.
- Record rents may put pressure on Central Bank to ease lending rules https://www.irishtimes.com/business/personal-finance/record-rents-may-put-pressure-on-central-bank-to-ease-lending-rules-1.4091832?mode=amp
- Average deposit for buying a home stands at €87,000 https://www-rte-ie.cdn.ampproject.org/c/s/www.rte.ie/amp/1094529/
- Later life mortgages will only be a matter of time https://www.irishexaminer.com/breakingnews/business/columnists/later-life-mortgages-will-only-be-a-matter-of-time-965311.html
- Stronger credit unions can triple mortgage and business lending after Central Bank rule changes – Independent.ie https://m.independent.ie/business/personal-finance/stronger-credit-unions-can-triple-mortgage-and-business-lending-after-central-bank-rule-changes-38715482.html
- Credit unions face big task to secure mortgage market share https://www.irishexaminer.com/breakingnews/business/credit-unions-face-big-task-to-secure-mortgage-market-share-965848.html
- Garda co-op St Raphael’s out to collar mortgages: St Raphael’s, the garda lending co-operative, aims to become the first credit union to take advantage of new reforms allowing the lenders to provide mortgages.
The reforms, announced last week by the Central Bank of Ireland, will allow St Raphael’s to grow mortgages to €60m of its €139m loan book, from €20m currently. https://www.thetimes.co.uk/article/garda-co-op-st-raphaels-out-to-collar-mortgages-dm3n6svc7
- Change lending rules to help second-time buyers, brokers say https://www.irishtimes.com/business/financial-services/change-lending-rules-to-help-second-time-buyers-brokers-say-1.4085844?mode=amp
- Mortgage arrears may follow 20,000 into retirement https://www.irishtimes.com/news/ireland/irish-news/mortgage-arrears-may-follow-20-000-into-retirement-1.4085908?mode=amp
- EBS investigates overcharging on home-loan deals – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/ebs-investigates-overcharging-on-homeloan-deals-38699240.html
OTHER PROPERTY NEWS
- Pastoral pads gain ground in the country-homes market revival – including Grangecon demesne and stud (my home village! pictured above) https://www.thetimes.co.uk/edition/ireland/pastoral-pads-gain-ground-in-the-country-homes-market-revival-prlk322pl
- Million euro mansions of the stars struggling to find buyers – Independent.ie https://amp.independent.ie/irish-news/news/million-euro-mansions-of-the-stars-struggling-to-find-buyers-38720639.html
- ‘Hundreds of millions’ to be invested in data centre in Meath – Independent.ie https://amp.independent.ie/business/irish/hundreds-of-millions-to-be-invested-in-data-centre-in-meath-38720181.html
- According to a piece in The Sunday Times today, Housing Minister Eoghan Murphy wants to retain role beyond 2020 if Fine Gael returns to government after the next general election and is determined to deliver 125,000 homes by 2021 under the Rebuilding Ireland housing plan: https://www.thetimes.co.uk/edition/ireland/eoghan-murphy-hard-headed-about-keeping-his-housing-brief-7tq9m63lr
- E-scooters face push to follow similar rules to cars:
Dublin city council has urged the government to require users of electric scooters to pass a driving test, obtain insurance and wear helmets and high-visibility clothing.
The battery-powered devices, which can travel at up to 25kph, are becoming increasingly popular among commuters in the capital, even though it is illegal to use them on public roads.
The government recently held a public consultation on whether to regulate “powered personal transporters” including e-scooters, Segways and electric unicycles. In its submission, Dublin city council argued e-scooters should be legalised with “strict requirements”, while Segways and electric unicycles are “not suitable at present for use on city streets”.
- Valley Healthcare takes Action with care centre haul: Valley Healthcare, a primary care centre operator backed by the Irish Infrastructure Fund (IIF), has acquired two primary care centres and three other care centre projects from Action Health Enterprises, a group backed by UK investor M&G.
The deal ends ambitions by Action Health to build a €250m portfolio of up to 25 primary care centres. The company, headed by Scottish entrepreneur Alasdair Kerr, acquired its first centre in 2017 and had aimed to be a leading player in the Irish primary care sector.
It had partnered with the property group Marlet, which is also backed by M&G, for the healthcare venture.
In a statement, Action Health confirmed it had sold its primary care centres at Athenry in Galway and Carrigtwohill in Cork to Valley…
- Permanent TSB and Ulster Bank are examining how they may have overcharged hundreds of vulnerable customers with mortgage arrears as the industry braces for another home loans scandal.
It follows revelations that EBS, a former building society now owned by AIB, has overcharged an estimated 500 households by wrongly charging them interest on missed insurance payments after they defaulted on their loans.
- Agenda: Dublin hotel sector is enjoying the suite spot: Dublin hotel developers would be forgiven for feeling unloved. A #NoMoreHotels campaign has sprung up, based on the sometimes spurious belief that new hotels are squeezing out cultural venues and taking up sites that should be used for building homes.
A mock “lost and found” poster has appeared in the capital’s docklands, seeking a lost crane and featuring a drawing of a long-legged bird. “This one builds nests, not f****** hotels,” it says.
You know things are getting boomy when hotel owners and developers object to each other’s plans. In Dublin 7 and 8, in particular, there are proposed hotels bumping up against each other…
- MHL sees room for growth as hotel revenues increase https://www.thetimes.co.uk/edition/ireland/mhl-sees-room-for-growth-as-hotel-revenues-increase-5ww7lhgd8
- Conrad hotel fetches sale price of €116m | Buyer believed to be Archer Hotel Capital BusinessPost.ie https://www.businesspost.ie/business/conrad-hotel-fetches-sale-price-of-116m-90d412a
- Expansion proposal for Amgen’s Dun Laoghaire site: The company has lodged plans for two new pharma manufacturing buildings, one of 17,000 sq m and one of 5,000 sq m. Amgen said the proposed development would be built in phases.
The US group bought a plant in Dun Laoghaire from Pfizer in 2011 and opened a new biotech facility there in 2015 after $300m (€272m) investment. It employs 560 people at the site, which it describes as one of its “key manufacturing sites” for global medicines…
- Blackbee buzzes into social housing and renewables: Investment firm to put more than €100 million into social homes and about €250 million into renewable energy funds
- Cantor to buy Co Meath retail park for €21.5m: The investment firm will acquire 13,000 square metres of retail space outside Navan
- Owners of high-end Dublin homes sought for ‘super-exclusive’ website | BusinessPost.ie https://www.businesspost.ie/business/owners-of-high-end-dublin-homes-sought-for-super-exclusive-website-6d31f653
- Grand design to save Cloontykilla pays off – Owner of Roscommon castle seizes back control from vulture fund, with aim to complete conversion into country-house retreat
- Kildare Village-style €100m retail hub proposed for Cork | BusinessPost.ie https://www.businesspost.ie/sectors/kildare-village-style-100m-retail-hub-proposed-for-cork-fb231f5e
- Power for data centres will be challenging to deliver: Eirgrid executive | BusinessPost.ie https://www.businesspost.ie/sectors/power-for-data-centres-will-be-challenging-to-deliver-eirgrid-executive-a6d3b739
- Big Red Barn expands into building ‘tiny homes’ for hard-pressed buyers:
“We launched a new ‘tiny home’ earlier this month. We found we were getting a lot of enquiries from people with budgets in the €20,000 to €25,000 range and we couldn’t do anything for them.”
With a compact floorspace of 28 feet by 8 feet, that model is priced from €20,000. “Our biggest seller at the moment is our two-bed modular home. We put out one of those houses every week, and they go to young couples who can’t get a mortgage but can borrow €50,000 to €60,000 for a starter home,” said Donal Byrne.
- Irish arm of Airbnb made €80 million in 2018:
New figures shows profitability of Airbnb’s operations outside of the United States and Europe for the first time. Turnover climbs by a third in 2018. BusinessPost.ie https://www.businesspost.ie/business/irish-arm-of-airbnb-made-80m-in-2019-9163d484
- Most expensive house in Dublin to get bigger
Walford, the most expensive house ever sold in the state, will be three times larger after an extensive redevelopment is completed. The house was sold for €58 million at the height of the boom.
- Donohoe looks into tax breaks for landlords who retain existing tenants – Finance minister’s officials will examine ways to slow trend of families becoming homeless when houses are bought
- Home truths: Can we solve our social housing conundrum? – Independent.ie https://amp.independent.ie/life/home-garden/homes/home-truths-can-we-solve-our-social-housing-conundrum-38714208.html
- Ireland has ‘accomodation crisis’ not housing crisis https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/economy/ireland-has-accomodation-crisis-not-housing-crisis-1.4085779?mode=amp
- Is it time to reset property taxes and commercial rates? https://www.rte.ie/brainstorm/2019/1118/1092576-is-it-time-to-reset-property-taxes-and-commercial-rates/
- Stephen J Bell: ‘Don’t let impatience kill off housing’s green shoots’ – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/stephen-j-bell-dont-let-impatience-kill-off-housings-green-shoots-38700944.html
- Taoiseach Leo Varadkar has said the cost of retrofitting all homes in Ireland as part of the drive to reduce carbon emissions would be “phenomenal”, amounting to €50 billion:
- Tax system shouldn’t treat landlords as the enemy – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/tax-system-shouldnt-treat-landlords-as-the-enemy-38711433.html
- Blackstone to go ahead with purchase of €535m portfolio https://www.irishtimes.com/business/commercial-property/blackstone-to-go-ahead-with-purchase-of-535m-portfolio-1.4092337?mode=amp
- Yew Grove to raise €19.4m to fund acquisitions – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/commercial-property/yew-grove-to-raise-19-4m-to-fund-acquisitions-38718246.html
- WeWork to ditch leasing business model in many cities https://www.irishtimes.com/business/commercial-property/wework-to-ditch-leasing-business-model-in-many-cities-1.4092319?mode=amp
- An Post considers plan to relocate HQ from GPO to Clerys https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/an-post-considers-plan-to-relocate-hq-from-gpo-to-clerys-1.4088283?mode=amp
- Boots secures prime pitch on Dawson Street https://www.irishtimes.com/business/commercial-property/boots-secures-prime-pitch-on-dawson-street-1.4086881?mode=amp
- Woman claims work denied on building site as not a man https://www.irishtimes.com/news/social-affairs/woman-claims-work-denied-on-building-site-as-not-a-man-1.4085871?mode=amp
- Bargains galore! Homes in Kildare going under hammer with average guide price of €30khttps://www.leinsterleader.ie/news/news/494913/bargains-galore-homes-in-kildare-going-under-hammer-with-average-guide-price-of-30k.html
- JP Morgan takes a near $7m hit on its old Dublin office lease https://www.irishtimes.com/business/financial-services/jp-morgan-takes-a-near-7m-hit-on-its-old-dublin-office-lease-1.4089605?mode=amp
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 *
- McKeon Group launches new technology company as part of growth plan – Independent.ie https://amp.independent.ie/business/technology/mckeon-group-launches-new-technology-company-as-part-of-growth-plan-38720189.html
- Cullaun Capital goes modular for Wexford housing scheme – Independent.ie https://amp.independent.ie/business/commercial-property/cullaun-capital-goes-modular-for-wexford-housing-scheme-38720180.html
- The New Marriott In Manhattan Is The World’s Tallest Modular Hotel https://www-forbes-com.cdn.ampproject.org/c/s/www.forbes.com/sites/juliabrenner/2019/11/22/the-new-marriott-in-manhattan-is-the-worlds-tallest-modular-hotel/amp/ (photo above!)
- Move Over PropTech, Here Comes ConTech | Propmodo https://www.propmodo.com/move-over-proptech-here-comes-contech/
- PropTech and ConTech Aren’t So Far Apart
- NYC Real Estate Tech Week 2019 reflects the buoyant state of our industry! — MetaProp NYC https://www.metaprop.org/blog/2019/11/19/nyc-real-estate-tech-week-2019-reflects-the-buoyant-state-of-our-industry?utm_source=MetaProp+NYC+Community&utm_campaign=d744fc4c81-Newsletter_10_17_2018_Launched+and+Accelerate_COPY&utm_medium=email&utm_term=0_f0e4674aaf-d744fc4c81-178435749
- Startup Funding Advice From 11 PropTech Founders | Propmodo https://www.propmodo.com/startup-funding-advice-from-11-proptech-founders/
- Colombian proptech Habi snags US$5.5 million in pre-seed round | Contxto https://www.contxto.com/en/startups/colombian-proptech-habi-snags-us5-5-million-in-pre-seed-round/
- Seizing the promises of PropTech, Business News & Top Stories – The Straits Times https://www.straitstimes.com/business/seizing-the-promises-of-proptech
- This Reliance-owned Deep-Tech Start-Up Wants To Bring Mixed Reality To the Masses https://www.entrepreneur.com/article/342538
- In praise of Purplebricks: old-school agent insists “it’s the way forward”
- How proptech is disrupting the real estate industry | Financial Post https://business.financialpost.com/real-estate/real-estate-enters-the-data-age-how-proptech-is-disrupting-the-property-industry
- Join our “community” of #SME’s helping to bring #Innovation to #AEC sector. http://aechive.net (image below)