Post-Budget and pre-Brexit coverage dominates the broadsheets today. The Sunday Independent has a pension special that might be of special interest to people
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:
- Green Reit shareholders approve sale of Irish property group for €1.34bn – Virtually all shareholders back resolutions to pave way for UK company Henderson Park to buy the business for €1.9135 a share https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/green-reit-shareholders-approve-sale-of-irish-property-group-for-1-34bn-1.4043019?mode=amp
- Green Reit’s suitor hit as Donohoe closes tax loopholes https://www.irishtimes.com/business/financial-services/green-reit-s-suitor-hit-as-donohoe-closes-tax-loopholes-1.4044235?mode=amp
- Land Development Agency constitutes state aid – legal advice https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/news/politics/land-development-agency-constitutes-state-aid-legal-advice-1.4046915?mode=amp
- *There are only 11 spaces left for our Dublin Techstars Startup Week & Proptech Ireland event with Antony Slumbers: Use Cases For Artificial Intelligence in Real Estate in the RDS Members Club on October 24th, book now: https://www.eventbrite.ie/e/71815687655
- “…two council workers suggested to construction companies they use the services of the two criminals.” Dublin City Council paid gangland figures to stop antisocial attacks, Cab case told
https://www.irishtimes.com/news/crime-and-law/dublin-city-council-paid-gangland-figures-to-stop-antisocial-attacks-cab-case-told-1.4044450?mode=amp More on this: Crime kingpins of Ballyfermot: The men behind the Dublin City Council protection racket https://www.irishtimes.com/news/crime-and-law/crime-kingpins-of-ballyfermot-the-men-behind-the-dublin-city-council-protection-racket-1.4047568?mode=amp Meave Sheahan, writing for the Sunday Independent, covers this extensively today.
- David McWilliams: If #Cork can’t succeed economically, Ireland will regress https://www.irishtimes.com/opinion/david-mcwilliams-if-cork-can-t-succeed-economically-ireland-will-regress-1.4046466?mode=amp
- Fewest UK homes being put on sale since 2016 – RICS https://www.rte.ie/amp/1082263/
- How Cities Address the Housing Crisis, and Why It’s Not Enough https://www.citylab.com/perspective/2019/10/affordable-housing-crisis-cities-rent-zoning-development/599758/
- Via Townmore Construction – The 50 Most Influential Tall Buildings of the Last 50 Years | CTBUH 2019 Conference https://ctbuh2019.com/other-info/50-influential-buildings/
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 email@example.com.
(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.
Joining us in studio this week are Ralph Monague, architect and director at ArcDox, and Angela Seoige, UX Designer, to talk all things BIM, AecHive, barriers to digital transformation of construction and the importance of UX design as proptech matures.
Listen back here: https://anchor.fm/ipropertyradio/episodes/Property-Matters–October-8th-2019-e6em6l
*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
- ARCHITECTURE AT THE EDGE WEEKEND – 12TH-13TH OCTOBER, 2019 | PLACEengage https://placeengage.com/architecture-at-the-edge-weekend-12th-13th-october-2019/
- Open House organisers raise questions on architecture https://www-rte-ie.cdn.ampproject.org/c/s/www.rte.ie/amp/1083002/
- This is why PLACEengage.com is such an important pre-planning step for property developers: “The current system of engagement with people is flawed. Developers need to go out early to talk to people about their plans,”
- ‘A tale of two cities’: major amenities planned for Cork’s southside amid claims the northside is forgotten https://www.echolive.ie/corknews/A-tale-of-two-cities-major-amenities-planned-for-Corks-southside-amid-claims-the-northside-is-forgotten-0144ec94-6f0e-42cf-9633-6af724a2194e-ds
- ‘Cultural change’ needed for communities to accept high density housing https://www.irishtimes.com/news/environment/cultural-change-needed-for-communities-to-accept-high-density-housing-1.4041872?mode=amp
- Decision on development of O’Devaney Gardens site postponed by Dublin City Council https://www.thejournal.ie/odevaney-gardens-dublin-city-council-vote-4841325-Oct2019/
- Murphy accuses councillors of hypocrisy over O’Devaney Gardens https://www.irishtimes.com/news/social-affairs/murphy-accuses-councillors-of-hypocrisy-over-o-devaney-gardens-1.4045504?mode=amp
- Public housing submissions over Dublin suburb rejected https://www.rte.ie/news/dublin/2019/1007/1081713-cherry-orchard/
- Idealism as the Impetus of American City Planning https://www.archdaily.com/925117/idealism-as-the-impetus-of-american-city-planning
- High Court to hear application against Bulloch Harbour housing proposal https://dublingazette.com/news/south-dublin-news/bulloch-38904/
- In The Sunday Business Post today, Killian Woods writes that ‘Tide turns against shared living concept: Reservations about their locations and standards of accommodation, as well as a political backlash, means developers are having trouble getting planning for schemes’. He is referring to DCC’s tough stance on proposed co-living developments they view to be “substandard”.
*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*
OTHER PROPERTY NEWS
- The lead business story, by Samantha McCaughren, in the Sunday Independent today: “The time has come for the Central Bank to change its mortgage rules to give buyers more flexibility, the head of AIB, the country’s biggest mortgage lender has said – AIB chief executive officer Colin Hunt believes the lending rules have served their purpose but should now be adjusted to reflect the market.
In his first interview since taking over the top job at AIB, Mr Hunt told the Sunday Independent that house price inflation was now zero and, according to some measures, falling in Dublin…” https://m.independent.ie/business/personal-finance/property-mortgages/aib-chief-time-to-relax-mortgage-rules-38588921.html
- Also in the Independent, Dan White writes that ‘Donohoe fails to get stamp of approval for property changes: When it comes to institutional property investors, the Budget may have been a case of closing the door after the hose has bolted…’.
- In the property supplement of the Independent today, architect Zeno Winkens explains what the new nZEB standard means for people embarking on their self-builds.
- In The Sunday Times, Valerie Flynn tackles the “€6 million grant riddle” of the housing retrofit scheme. Earlier this year energy minister Richard Bruton confirmed that there was €6 million available funding yet, three weeks later, the SEAI requested permission to close the programme as there was no funding left. What this means for consumers is that up to 300 households, who had already begun upgrading their homes, will not be able to recoup any portion of their investment.
- In the business section of The Sunday Times, Gavin Daly reports that Apple is now seeking a buyer for its 500-acre Athenry data centre site. No guide price has been disclosed, however, the site was acquired from Coillte by Apple back in 2014 for a reported €15 million.
- Also in the Times: Marlet is seeking to scale the Apollo House//College Square development to 21-storeys; Masco Group has acquired a controlling interest of Charleville-based engineering firm BCD Group (turnover €32.4m); Niall McGirr has invested in Springhill Kitchens; and Michael Cawley has invested in HomeSecure.
- In the property supplement of The Sunday Times today Eithne Shortall has an interesting feature ‘Warning: Joining a residents’ online chat group can make you paranoid: They’re supposed to foster communities, but local social media apps also have a sinister side’. Anyone who is involved in a neighbour WhatsApp group will likely relate to this, and anyone who is not will likely ask the question – does my neighbour have a group chat that I don’t know about?!?!?
- In The Sunday Business Post, Killian Woods reports that the developers of Newmarket Square (consortium including Revelate Capital/Martin Creedon) has sought to amend existing permission to omit the mandatory indoor market and reduce space for artists studios. [This is so frustrating. I personally work with genuinely great property developers – developers with vision, skill and integrity – but this is exactly the kind of underhand behaviour that damages the reputation of this industry and erodes trust within the local community.]
- In the property section of the SBP, IPAV chief executive Pat Davitt calls for “a new model of home ownership” to make homeownership achievable and affordable. He is absolutely right, unfortunately, he does not have any specific proposals for how this might be delivered or what a new model of ownership might look like.
- Dublin property prices fall as overall market softens – Independent.ie https://m.independent.ie/business/personal-finance/dublin-property-prices-fall-as-overall-market-softens-38583590.html
- Mortgage interest rates for first-time buyers edges higher https://www.irishtimes.com/business/economy/mortgage-interest-rates-for-first-time-buyers-edges-higher-1.4047579?mode=amp
- Irish house prices stabilise as househunters show ‘nervousness’ ahead of Brexit https://www.thejournal.ie/house-prices-ireland-august-2019-4846574-Oct2019/
- No change to Help to Buy incentive for first-time buyers https://www.irishtimes.com/business/economy/no-change-to-help-to-buy-incentive-for-first-time-buyers-1.4043892?mode=amp
- Help to Buy scheme extended for two more years https://www.rte.ie/news/budget-2020/2019/1008/1081881-help-to-buy-scheme-extended-for-two-more-years/
- ‘I’ve concerns about the level of tax they’re paying’: Property investment firms to be hit with tax avoidance clampdown tonight https://www.thejournal.ie/tax-avoidance-property-funds-4843306-Oct2019/
- Vulture funds loaded IREFs with 90% debt to sidestep withholding tax https://www.irishtimes.com/business/commercial-property/vulture-funds-loaded-irefs-with-90-debt-to-sidestep-withholding-tax-1.4045473?mode=amp
- ‘No long-term housing’ will be built with Budget 2020 funding, expert warns https://www.thejournal.ie/social-housing-budget-2020-4845068-Oct2019/
- Stamp duty rise leads to €2.6m in deals – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/commercial-property/stamp-duty-rise-leads-to-2-6m-in-deals-38579466.html
- Local authorities ill-equipped to build their way out of housing crisis https://www.irishtimes.com/opinion/local-authorities-ill-equipped-to-build-their-way-out-of-housing-crisis-1.4046545?mode=amp
- Council to crack down on Airbnb property owners who flout law https://www.irishtimes.com/news/ireland/irish-news/council-to-crack-down-on-airbnb-property-owners-who-flout-law-1.4043078?mode=amp
- Landlord fined €12,000 for refusing to accept rent allowance from Latvian woman https://www.thejournal.ie/wrc-landlord-latvian-woman-rent-allowance-hap-4844692-Oct2019/
- Retrofitting needed on over 10,000 social housing units https://www.rte.ie/news/2019/1011/1082535-housing-retro-fit-energy/
- Ceann Comhairle hits back at Housing Association purchase claims https://www.kildarenow.com/news/home/484631/ceann-comhairle-hits-back-at-housing-association-purchase-claims.html
- Irish Glass Bottle site lures bids from Ballymore to Ronan Group https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/irish-glass-bottle-site-lures-bids-from-ballymore-to-ronan-group-1.4046900?mode=amp
- Plans for 11-storey apartment block on ‘ugly’ D4 site rejected – Herald.ie https://m.herald.ie/news/plans-for-11storey-apartment-block-on-ugly-d4-site-rejected-38568495.html
- Developer Johnny Ronan completes drive for five in D4 https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/developer-johnny-ronan-completes-drive-for-five-in-d4-1.4042852?mode=amp
- Irish Construction Firm Townmore Opens New Office in Cork – Construction Network Ireland http://www.constructionnetworkireland.com/irish-construction-firm-townmore-opens-new-office-cork/
- LinkedIn pursues plan for massive campus in Dublin city centre https://www.irishtimes.com/business/commercial-property/linkedin-pursues-plan-for-massive-campus-in-dublin-city-centre-1.4047820?mode=amp
- Fine Gael is gaslighting the nation over ‘affordable’ housing https://www.irishtimes.com/opinion/fine-gael-is-gaslighting-the-nation-over-affordable-housing-1.4041866?mode=amp
- Ulster Bank sells portfolio of 3,175 mortgages to Pepper https://www.thejournal.ie/ulster-bank-pepper-sale-4843103-Oct2019/
- Dublin ranks 10th in Europe for serviced office deals - Co-working sector set for continued growth despite current challenges facing WeWork https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/dublin-ranks-10th-in-europe-for-serviced-office-deals-1.4042672?mode=amp
- Henley Bartra looks to flip Phoenix House for €16m https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/henley-bartra-looks-to-flip-phoenix-house-for-16m-1.4039282?mode=amp
- Citywest’s €45m price shows how far Dublin hotels have come https://www.irishtimes.com/business/transport-and-tourism/citywest-s-45m-price-shows-how-far-dublin-hotels-have-come-1.4048009
- Google strikes deal for new Sandyford offices https://www.irishtimes.com/business/commercial-property/google-strikes-deal-for-new-sandyford-offices-1.4042868?mode=amp
- RCSI agrees €40m loan to help fund Dublin campus development https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/rcsi-agrees-40m-loan-to-help-fund-dublin-campus-development-1.4046730?mode=amp
- Enlarged Cork Event Centre gets planning permission https://amp-irishexaminer-com.cdn.ampproject.org/c/s/amp.irishexaminer.com/breakingnews/ireland/enlarged-cork-event-centre-gets-planning-permission-956693.html
- Kingspan to buy building solutions business for €42m – Independent.ie https://m.independent.ie/business/irish/kingspan-to-buy-building-solutions-business-for-42m-38568983.html
- Dublin Gaelscoil forced to close again due to structural concerns https://www.breakingnews.ie/ireland/dublin-gaelscoil-forced-to-close-again-due-to-structural-concerns-956198.html
- Naas town shopping centre for sale guiding at €4.8 million https://www.leinsterleader.ie/news/news/484740/major-kildare-shopping-site-in-naas-town-centre-up-for-sale.html
- Energy drink giant has bought a Kildare factory premises https://www.leinsterleader.ie/news/home/485174/energy-drink-giant-has-bought-a-kildare-factory-premises.html
- Development land with expired planning for 23 houses going under the hammer https://www.carlowlive.ie/news/home/485275/development-land-with-expired-planning-for-23-houses-in-carlow-going-under-the-hammer.html
- Multi million euro project in Longford rejected by Bord Pleanala – Shannonside https://www.shannonside.ie/news/local/longford/multi-million-euro-project-longford-rejected-bord-pleanala/
- Cambridge lab tests prove possibility of zero-carbon construction https://www.theconstructionindex.co.uk/news/view/cambridge-lab-tests-prove-possiblity-of-zero-carbon-construction
- Virgin Hotels is coming to Miami — and you can live in the building, too #coliving
THE AGILE AGENT
GETTING IRELAND’S PROPERTY MARKETPLACE DIGITAL BY DEFAULT
The Agile Agent is a 12-month digital transformation programme for independent Irish estate agents and auctioneers, which runs from September – August. This programme will be delivered by a multi-disciplinary Irish and UK team and will go beyond proptech adoption to help agents get their industry digital by default.
Also, our C-Sessions kick off later this month – these masterclasses are for CEOs, COOs, CFOs and CMOs within the planning, construction and properties industries to explore the potential uses of emerging technologies within the organisation. This month we are hosting a deep dive into ‘Space as a Service’ and changing consumer trends for office and workspaces. This sessions are by invitation only so please contact firstname.lastname@example.org to register your interest.
To get involved and for free Proptech Prompts, please
PROPTECH AND CONSTRUCTION INNOVATION
- From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based #proptech 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 *
- Tech entrepreneur praises measures for start-ups in Budget 2020 https://www.irishtimes.com/business/technology/tech-entrepreneur-praises-measures-for-start-ups-in-budget-2020-1.4045151?mode=amp
- Excellent concept and upcoming event from @_aechive Check out: Introduction to AecHIVE https://www.youtube.com/watch?v=_sIU4QK5H1c
- Frontline ‘shakes the trees’ for entrepreneurs as it unveils €10m spend:
“Many private investors don’t relate to start-up metrics. Having a VC with a specific interest in tech start-ups, as lead or only investor, offers additional shared learnings from their investee portfolio as well as a smoother investment path,”
- How IoT Can Power Scalability in Office and Property Management | Propmodo https://www.propmodo.com/how-iot-can-power-scalability-in-office-and-property-management/
- Get guaranteed rent for your home from new startup Doorstead – TechCrunch https://techcrunch.com/2019/10/07/doorstead-property-management/
- Freddie Mac Using Shady AI Company for Mortgage Loans https://prospect.org/power/freddie-mac-using-shady-ai-company-for-mortgage-loans-ZestFinance/
- Real estate technology continues to be one of the most active areas of financing and M&A activity through Q3 of 2019 #proptech
- PropTech Today: What is the point of industry collaboration? It’s a risk, surely?
- Video – Agent speaks out: why I started my own #Proptech solution:
- Proptech In The Office – New Technology – UK http://www.mondaq.com/uk/x/851228/new+technology/Proptech+in+the+office
- Amazon Invests In Smart Home PropTech Startup For Multifamily Landlords https://bisnow.com/national/news/technology/amazon-proptech-smart-home-startup-smartrent-investment-101246#ath
- Danish proptech LifeX raises €7.5 million to bring co-living to European cities – Tech.eu https://tech.eu/brief/danish-proptech-lifex-raises-e7-5-million-to-bring-co-living-to-european-cities/
- WeWork invests in proptech company https://therealdeal.com/national/2019/10/11/wework-is-investing-again-with-fundraising-round-for-proptech-startup/
NEW 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 will now appear as part of The Property Insider series, published by Oak Tree Press, the first three titles are now published and available here.
From 2019, 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/