Weekly 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:

 

• Mica homes compensation cap to be €350,000: A limit on payments to affected homeowners will anger campaigners who argue there should be no ceiling on claims https://www.thetimes.co.uk/article/mica-homes-compensation-cap-to-be-350-000-scb79p3m6

 

• Property industry lobby groups have aggravated the housing problem: Many Government policies delivered on foot of lobbying by industry have proved ineffective https://www.irishtimes.com/business/economy/property-industry-lobby-groups-have-aggravated-the-housing-problem-1.4709288

 

• ESRI report on housing borrowing slammed as ‘detached from reality’ by Finance officials: Research which suggested state could borrow up to €7 billion a year sparked scathing response  https://www.businesspost.ie/houses/esri-report-on-housing-borrowing-slammed-as-detached-from-reality-by-finance-officals-37c92ea0

 

• Ireland has 10th highest rate of vacant homes in the world, study finds: Research shows 183,312 of State’s housing stock are classified as vacant  https://www.irishtimes.com/business/economy/ireland-has-10th-highest-rate-of-vacant-homes-in-the-world-study-finds-1.4709476

 

• Why rezoning land does not always deliver housing – Could planning changes prevent the ‘flipping’ of sites such as Chivers in north Dublin https://www.irishtimes.com/news/ireland/irish-news/why-rezoning-land-does-not-always-deliver-housing-1.4710050

 

• Dublin council to seek exemption from plan to end long-term leasing of social housing: Advantages from deals with private developers are ‘hard to resist’, city council says  https://www.irishtimes.com/news/social-affairs/dublin-council-to-seek-exemption-from-plan-to-end-long-term-leasing-of-social-housing-1.4711199

 

• Unintended consequences: “Take, for example, the demise of the urban bedsit…”https://www.irishtimes.com/opinion/michael-mcdowell-bedsit-ban-offers-a-warning-on-future-income-supports-1.4711056

 

• Local and global figures bring data centre expertise to Dublin: DataCentres Ireland 2021 will be held in the RDS on Tuesday November 16 and Wednesday November 17 https://www.businesspost.ie/commercial-reports/local-and-global-figures-bring-data-centre-expertise-to-dublin-3501ed21

 

• Dundalk firm turns shipping containers into new homes https://amp.rte.ie/amp/1255778/

 

• Harry Crosbie: ‘They won’t give me a VIP pass and free membership – now I can’t go to the venues I created’: The colourful developer talks to John Meagher about how Dublin has changed for the better https://m.independent.ie/irish-news/harry-crosbie-they-wont-give-me-a-vip-pass-and-free-membership-now-i-cant-go-to-the-venues-i-created-40994915.html

 

• Architect Róisín Murphy and builder Peter Finn open up about high cost of materials affected RTE show Home Rescue https://www.thesun.ie/tvandshowbiz/7812253/architect-roisin-builder-peter-cost-materials-rte-home-rescue/amp/

 

• Could a 19th century economist unlock the Irish rental crisis? Henry George’s ideas about the human right to a home continue to hold relevance for today’s property problems in Ireland https://amp.rte.ie/amp/1255890/

 

• Transformational change – what carbon cuts mean for the way we live: The latest report on Ireland’s climate challenge points to major changes for households  https://www.irishtimes.com/news/environment/transformational-change-what-carbon-cuts-mean-for-the-way-we-live-1.4710799

 

• Brothers behind Daft.ie share €15.37m dividend payout with others  https://www.breakingnews.ie/amp/business/brothers-behind-daft-ie-share-e15-37m-dividend-payout-with-others-1204989.html

 

• ‘Lovely girl with a lovely project’ – why female founders have had enough of the venture capital boys’ club: Last year, 94 per cent of VC funding in Ireland went to male-founded businesses. https://www.businesspost.ie/business/lovely-girl-with-a-lovely-project-why-female-founders-have-had-enough-of-the-venture-capital-boys-club-b14bf1af

 

• New technological university announced for the north west: Galway-Mayo, Sligo and Letterkenny institutes of technology are to combine to become a Technical University.  https://www.thejournal.ie/new-technological-university-announced-north-west-5586302-Oct2021/

 

• Former CRH Chief Executive Tony Barry dies: Dr Barry was the brother of former Tánaiste Peter Barry and the grandson of Anthony Barry, the founder of Barry’s Tea  https://www.irishexaminer.com/business/economy/arid-40732698.html

 

• Angela Jupe obituary: Renowned garden designer and architect: Jupe was a visionary thinker with a passion for Irish gardens  https://www.irishtimes.com/life-and-style/people/angela-jupe-obituary-renowned-garden-designer-and-architect-1.4711986?mode=amp

 

 

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 and podcast, which launched in January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com), returned last month for a fourth season. The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech.

 

Season 4, Episode 7: Property Matters, October 26th, 2021 – Development in Dublin, Regeneration, & Commercial Property Insights

 

This week on #PropertyMatters, hosts Bryan Fox and Carol Tallon are joined by:

 

• Part 1 – Derek Mooney affairs consultant and former government advisor; Cllr @Jim O’Leary, Fine Gael representing the Dundrum area on DLRCoCo; Cllr Emma Murphy Fianna Fail sits on South Dublin CoCo and Communications Director for Barry Andrews MEP and Shane O’Brien SF former councillor in DLRCoCo and now policy officer for the party.
• Part 2 – Cllr Jim O’Leary, Fine Gael representing the Dundrum area on DLRCoCo.
• Part 3 –  Taylor Odegard, CEO of NavigatorCRE and his colleague, Kevin Shtofman COO.

Topics include housing delivery, SHDs (and expectations post-SHD), large-scale development in Dundrum and real estate data as a “weapon”.

 

 

 

*Listen back to all shows at: https://ipropertyradio.com/property-matters/

 

Email the Property Matters team at info@propertydistrict.ie

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• Dublin City Council’s legal bid to remove street art murals to get full hearing next March: The murals, by artist collective Subset, were allegedly allowed by residents without permission of the city’s planning department. https://www.thejournal.ie/subset-dublin-city-council-mural-trial-date-5584369-Oct2021/ (pictured)

 

• Local residents oppose Johnny Ronan’s Appian Way tower plan: Consultants clash over 10-storey ‘build to rent’ tower scheme on prominent corner site https://www.irishtimes.com/business/innovation/local-residents-oppose-johnny-ronan-s-appian-way-tower-plan-1.4711017

 

• Easter Rising’s bullet holes preserved in plan for Moore Street: British developer has promised to incorporate bullet holes from the 1916 Rising into its design for the redevelopment of the Moore Street area.  https://www.thetimes.co.uk/article/easter-risings-bullet-holes-preserved-in-plan-for-moore-street-gd5tsn8c8

 

• Dubs overwhelmingly in favour of permanent pedestrianisation of Parliament Street and Capel Street: The council opened the public consultation in August, after briefly extending the temporary measures following a public outcry https://www.dublinlive.ie/news/dubs-overwhelmingly-favour-permanent-pedestrianisation-22000095

 

• Cobblestone pub: Protestors block O’Connell Bridge to try save historic venue: One protestor said that ‘Dublin is dying’ and urged those in power to save the cultural institution https://www.dublinlive.ie/news/dublin-news/cobblestone-pub-protestors-block-oconnell-22019889.amp

 

• Pádraig Harrington has designed a massive, 3,000 sq.m. putting course at Marlay Park that will open to the public in Spring 2022. https://m.independent.ie/sport/golf/padraig-harrington-designs-massive-public-putting-green-in-marlay-park-40993713.html

 

• Road extension scheme to facilitate development of Cork’s Docklands receives green light  https://www.echolive.ie/corknews/arid-40730283.html

 

• The new amenity, developed and constructed by IDA Ireland, will form part of the Cork County Council-led initiative to develop an interurban strategic cycleway, linking Dunkettle and Midleton.  https://www.echolive.ie/corknews/arid-40731639.html

 

• The architects who have made boarded-up buildings their business: Two recently returned emigrants are tackling dereliction in villages, towns and cities  https://www.irishtimes.com/life-and-style/homes-and-property/the-architects-who-have-made-boarded-up-buildings-their-business-1.4711051?mode=amp

 

• Over 100 rural villages to have frequent public transport service for first time under new plan: The plan was published today for public consultation. https://www.thejournal.ie/public-transport-plan-5587252-Oct2021/

 

• The 15-minute city concept could revolutionise how we live: Cork, Limerick, and Galway could all benefit from the idea which focuses on people being able to access essential services within a short walk or bike ride from their home https://www.irishexaminer.com/opinion/commentanalysis/arid-40730352.html

 

• High Court grants judicial review for Punches Cross development  https://www.limerickpost.ie/2021/10/26/high-court-grants-judicial-review-for-punches-cross-development/

 

• Restored Workhouse To Become Midlands Business Hub  https://www.midlands103.com/news/midlands-news/restored-workhouse-to-become-midlands-business-hub/

 

• Kerry development company manifestly trespassed on lands: “The only meetings held were in community settings which in itself was almost a form of duress on the individuals, the judge said…” https://www.irishexaminer.com/news/courtandcrime/arid-40732812.html

 

• Kerry’s planners hoping to discourage one-off housing in favour of towns: Of the 1,840 new addresses added in Kerry between 2015 and 2020 almost 60% were private housing and located outside of settlements  https://www.irishexaminer.com/news/munster/arid-40728603.html

 

• The people of Asdee, a small rural village in North Kerry, have brought home gold at an international awards ceremony for their ambitious community development plan  https://www.irishexaminer.com/news/munster/arid-40729416.html

 

• Kerry project aims to shape Ireland’s electric future  https://www.rte.ie/news/munster/2021/1028/1256281-climate-dingle/

 

• Castlemaine Harbour study to be substantially complete by mid-2022  https://www.radiokerry.ie/news/castlemaine-harbour-study-to-be-substantially-complete-by-mid-2022-256220

 

• Preferred route for next stage of Athlone-Galway cycleway expected before end of year https://www.shannonside.ie/news/preferred-route-for-next-stage-of-athlone-galway-cycleway-expected-before-end-of-year-192175

 

• WORK has commenced on the restoration of a historic Dunfanaghy building 90 years after it was abandoned. The property, known locally as the ‘Landlord’s House’, was purchased recently by former Republic of Ireland manager Martin O’Neill.https://donegalnews.com/2021/10/former-ireland-soccer-boss-restoring-landlords-house/

 

• Snapshots from an Irish love affair: ‘I always felt I was going home’: Wood returns every year to a Mayo farm, where ‘everything seemed to have meaning’ https://www.irishtimes.com/culture/books/snapshots-from-an-irish-love-affair-i-always-felt-i-was-going-home-1.4713151

 

 

*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

• Engineers step up to the mark to ensure green future: In dealing with climate change, we need creative, flexible, holistic engineering solutions in almost every area. The good news is that the sector is already in the fray  https://www.businesspost.ie/commercial-reports/engineers-step-up-to-the-mark-to-ensure-green-future-2bceb6ee

 

• Courageous decisions needed if we want to be carbon-free: The transition period will call for long-term planning and decisions that the public have to buy into and get behind https://www.businesspost.ie/commercial-reports/courageous-decisions-needed-if-we-want-to-be-carbon-free-32c2d0c4

 

• Number of housing starts passes 30,500 after ‘enormous pick-up’: Davy may increase forecasts after figures shows highest annual number since 2008  https://www.irishtimes.com/business/construction/number-of-housing-starts-passes-30-500-after-enormous-pick-up-1.4713999

 

• Construction workers have lowest vaccine uptake among employed Irish  https://www.leinsterleader.ie/news/national-news/684537/construction-workers-have-lowest-vaccine-uptake-among-employed-irish.html

 

• Labour Court set to propose 5.6% pay rise for construction workers – report  https://www.irishtimes.com/business/media-and-marketing/labour-court-set-to-propose-5-6-pay-rise-for-construction-workers-report-1.4709303

 

• Changes are being introduced to the employment permit system to allow a greater number of workers from outside the European Economic Area work here. https://www.rte.ie/news/business/2021/1028/1256331-employment-permit-system/

 

• Skills shortage sees work-permit demand surge to record levels: Applications hit of over 17,000 as Government announces overhaul of system  https://m.independent.ie/business/irish/skills-shortage-sees-work-permit-demand-surge-to-record-levels-40996500.html

 

• Misclassification of workers as self employed was “a scourge not only in the construction and the electrical trades”, but one that was also occurring with alarming regularity in the low paid food industries such as meat processing. https://www.irishtimes.com/news/ireland/irish-news/state-losing-hundreds-of-millions-due-to-bogus-claims-1.4712295

 

• Developers are off to see if City Edge will be a wizard idea: Investors are set to follow the Naas Road towards a 1,700-acre regeneration scheme — but it might take decades.  https://www.thetimes.co.uk/article/developers-are-off-to-see-if-city-edge-will-be-a-wizard-idea-r9mmj6psv

 

• Breaking: Cassidy Brothers have been instructed to close down one of its plants by Donegal County Council following a planning investigation. The firm is one company caught up in the MICA defective blocks scandal. https://www.donegaldaily.com/2021/10/29/breaking-cassidy-brothers-ordered-to-shut-down-concrete-plant/

 

• Dublin City Council begins legal action over demolition of The O’Rahilly house: The court was told the case against Derryroe Ltd and the co-defendants was the “unauthorised demolition” of The O’Rahilly House.  https://www.thejournal.ie/orahilly-house-demolition-prosecution-by-council-5584649-Oct2021/

 

• Developers fall out over future of three landmark projects – Johnny Ronan and US joint venture partner in court row over €1bn Dublin developments https://www.irishtimes.com/business/construction/developers-fall-out-over-future-of-three-landmark-projects-1.4711830

 

• Denis O’Brien plans new office block in Dublin docklands  https://www.thetimes.co.uk/article/denis-obrien-plans-new-office-block-in-dublin-docklands-mvr9s7f9q

 

• Plans for 166 build-to-rent apartments on Prussia Street site: Irish Council for Civil Liberties calls for clarification of Garda role in eviction https://www.irishtimes.com/news/ireland/irish-news/plans-for-166-build-to-rent-apartments-on-prussia-street-site-1.4713255 Also: McGrath Group recorded almost €5m in profits in most recent accounts: The family-run property development group, which owns a derelict site at 23 Prussia Street that was subject to an eviction attempt this week, operates in Ireland, the UK and Germany  https://www.businesspost.ie/housing/mcgrath-group-recorded-almost-eur5m-in-profits-in-most-recent-accounts-6bf39130 – A grow house was discovered at a development site on Dublin’s Prussia Street when contractors entered the property to remove squatters.  https://www.thetimes.co.uk/article/grow-house-found-when-squatters-evicted-from-property-35b53hk5t

 

• FF TD among over 350 to object to €52m Clontarf scheme – Sean Haughey says 131-unit, six-storey apartment plan ‘completely out of character’ with the area https://www.irishtimes.com/business/retail-and-services/ff-td-among-over-350-to-object-to-52m-clontarf-scheme-1.4714368

 

• Locals and TDs oppose ‘unsustainable’ plans for 600 build-to-rent apartments in south Dublin: Residents are concerned over the height of the apartments which could reach ten storeys  https://www.dublinlive.ie/news/dublin-news/locals-tds-oppose-unsustainable-plans-22006448

 

• UCD €1 billion campus development: The new Centre for Creativity will relocate the architecture department and consolidate the engineering department with new studios and creative teaching suites.  https://www.irishtimes.com/news/ireland/irish-news/ucd-announces-350-million-loan-to-facilitate-huge-expansion-in-student-numbers-1.4713534

 

• Amazon has applied for planning permission for two data centres in Dublin and promised to offset their power consumption with three wind farms in Donegal, Galway and Cork. https://www.thetimes.co.uk/article/amazon-wants-to-build-more-data-hubs-in-dublin-xk5j9qqd6

 

• BAM to design and build new national school in Cork: The construction company is also building three schools in Dublin under the new joint venture  https://www.irishexaminer.com/news/munster/arid-40729899.html

 

• Plan to knock old northside shop as pharmacy chain eyes new two-storey store: A decision is set to be made on it by December 20th https://www.corkbeo.ie/news/local-news/plan-knock-old-northside-shop-22011936

 

• Hundreds of homes in Douglas will be without water on Monday as 470 new homes are connected: Irish water says at least 470 homes in the wider Douglas area will see their supply cut 12 hours https://www.corkbeo.ie/news/local-news/hundreds-homes-douglas-without-water-22009618

 

• Early stage plans for 258 homes in Oranmore  https://www.galwaydaily.com/news/early-stage-plans-for-258-homes-in-oranmore/

 

• Plans rejected for development around Seapoint casino  https://www.galwaydaily.com/news/plans-rejected-for-development-around-seapoint-casino/

 

• Pat McDonagh claims Irish Water quoted €720,000 to connect motorway plaza: Supermacs founder joins CIF in criticising high costs of mains connections  https://www.irishtimes.com/news/ireland/irish-news/pat-mcdonagh-claims-irish-water-quoted-720-000-to-connect-motorway-plaza-1.4712857

 

• Appeal lodged against Aldi supermarket plans for Ballybrit  https://www.galwaydaily.com/news/appeal-lodged-against-aldi-supermarket-plans-for-ballybrit/

 

• Large Limerick development site on offer at latest BidX1 auction: The site at Coolbawn in Castleconnell, which may have potential for 25 houses, has a €1 million guide price  https://www.businesspost.ie/commercial/large-limerick-development-site-on-offer-at-latest-bidx1-auction-f778140b

 

• 218-house Duckspool development granted planning permission  https://www.wlrfm.com/news/duckspool-granted-planning-permission-217144

 

• Planning permission sought for construction of 9 houses in Longford  https://www.shannonside.ie/news/planning-permission-sought-for-construction-of-9-houses-in-longford-192092

 

• Approval Granted To Start Works At One Of Midlands Largest Schools https://www.midlands103.com/news/midlands-news/approval-granted-to-start-works-at-one-of-midlands-largest-schools/

 

• Green light for Clonmel housing development  https://tippfm.com/news/green-light-clonmel-housing-development/

 

• Plans for new housing estate turned down by Tipperary County Council: Company had proposed 46 units for Glenconnor area of Clonmel  https://www.tipperarylive.ie/news/home/685069/plans-for-new-housing-estate-turned-down-by-tipperary-county-council.html

 

• Armada Hotel in Co Clare to create 100 jobs as part of €3m development at Spanish Point  https://www.irishtimes.com/business/transport-and-tourism/armada-hotel-in-co-clare-to-create-100-jobs-as-part-of-3m-development-1.4710156

 

• Lidl plans €11m investment for new store in Dublin’s Clonshaugh  https://www.breakingnews.ie/business/lidl-plans-e11m-investment-for-new-store-in-dublins-clonshaugh-1204525.html

 

• Laois Service Station To Be Replaced With Major Housing Development: Planning permission has been granted for the large-scale development on Grattan Street along the Mountrath Road https://www.midlands103.com/news/midlands-news/planning-permission-granted-to-turn-laois-service-station-into-apartments/

 

• Development works have been approved for the Grianan Estate in Burt. Conditional planing permission has been granted to Glenmore Estate Farms Ltd for the works https://www.donegallive.ie/news/home/683789/grianan-estate-works-get-the-green-light.html

 

• Headworks International Inc. and Glan Agua Ltd. announce strategic partnership  https://irishbuildingmagazine.ie/2021/10/26/headworks-international-inc-and-glan-agua-ltd-announce-strategic-partnership/

 

• Relm Finance prepares to launch its fourth fund: More than €300 million potentially available to be drawn down  https://www.irishtimes.com/business/financial-services/relm-finance-prepares-to-launch-its-fourth-fund-1.4712205

 

• Lagan Homes doubles profits and expands reach across UK and Ireland – The company said it has been growing its footprint through the acquisition of land banks  https://www.business-live.co.uk/commercial-property/lagan-homes-doubles-profits-expands-22012987.amp

 

• US firm acquires Irish consultancy Linesight: Pennsylvania-based IPS, a construction and engineering company aims to leverage Linesight’s data centre expertise  https://www.businesspost.ie/commercial/us-firm-acquires-irish-consultancy-linesight-0c2a7692

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

• Proptech Ireland is updating the database of 2021 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 *

 

• Irish start-up campaigns to build world’s largest database of accessibility information, including maps of towns and community spaces which would help people with disabilities access the areas more safely and with stronger confidence.  https://www-breakingnews-ie.cdn.ampproject.org/c/s/www.breakingnews.ie/amp/ireland/irish-startup-campaigns-to-build-worlds-largest-database-of-accessibility-information-1202003.html

 

• Growing appetite for AI in construction industry: ‘Everyone has become more conscious and curious about health hazards due to the Covid-19’ says Leanne McLoughlin, Health and Safety Operations Manager for BAM Contractors Ireland  https://www.businesspost.ie/commercial-reports/growing-appetite-for-ai-in-construction-industry-15240a5a

 

• Bringing Digital Cities to Life  https://irishtechnews.ie/bringing-digital-cities-to-life/

 

• IoT PropTech Summit 2021 – IoT For All https://www.iotforall.com/events/iot-proptech-summit-2021 (pictured)

 

• Multifamily Turn to Tech to Overcome Leasing Challenges: New proptech tools – as offered by www.standard access.co – are allowing multifamily operators to make up for staffing challenges and meet increasing tenants’ expectations https://www.wealthmanagement.com/multifamily/multifamily-owners-turn-technology-overcome-leasing-challenges

 

• DLUHC gives councils over £1 million for digital planning pilots | The money has come from the #PropTech Engagement Fund and is aimed at making the process more open and accessible and boosting #publicengagement. https://www.ukauthority.com/articles/dluhc-gives-councils-over-1-million-for-digital-planning-pilots/

 

• With buildings contributing 38% of all energy-related greenhouse gas emissions, business leaders have a critical role to play in lowering their global real estate emissions https://www.weforum.org/realestate/green-buildings

 

• The biggest European climate tech fund launches to invest €350M in decarbonization  https://therecursive.com/the-biggest-european-climate-tech-fund-launches-to-invest-e350m-in-decarbonization/?utm_content=184830894&utm_medium=social&utm_source=linkedin&hss_channel=lis-zRbcr9k0_y

 

• A Day in a Fully Automated Smart Home  https://www.archdaily.com/970126/a-day-in-a-fully-automated-smart-home

 

• Is “brick and mortar” the way forward for PropTech?  https://www.livemint.com/brand-post/is-brick-and-mortar-the-way-forward-for-proptech-11635507209704.html

 

• How to Make Smart Building Data Smarter: Too much data is as useless as no data. Here’s how to convert smart building data into reliable, useful, and actionable information.  https://www.facilitiesnet.com/buildingautomation/article/How-to-Make-Smart-Building-Data-Smarter–19396

 

• UK PropTech platform allows agents to offer extra deposit alternative  https://www.lettingagenttoday.co.uk/breaking-news/2021/10/proptech-platform-allows-agents-to-offer-extra-deposit-alternative

 

• PropTech is booming, and its rise was only accelerated by the Covid-19 pandemic, which forced the real estate industry – as well as many other industries – to adopt new digital processes and solutions.  https://www.estateagenttoday.co.uk/sponsored-content/2021/10/unlock-your-agencys-full-potential-with-rezi

 

• $1.5B Investment Into Proptech By Big Firms Is Changing How They Operate:  The nation’s biggest brokerages have invested almost $1.5B in proptech deals over the past 10 years. They know the world is changing, they know they need to stay ahead of that change, and they have put up real money to invest in the future. But what has that investment actually bought them? https://www.bisnow.com/national/news/top-talent/broker-20-how-big-cre-firms-pouring-money-into-proptech-is-changing-how-they-operate-110659

 

• The big money behind London’s climate tech ecosystem: A new report has detailed the staggering amounts of money being raised for climate tech in London as well as other European hubs  https://sifted.eu/articles/london-climate-tech-data/

 

• Why Smart Buildings Are A Breath Of Fresh Air  https://www.forbes.com/sites/jamiehailstone/2021/10/25/why-smart-buildings-are-a-breath-of-fresh-air/amp/

 

• JLL Acquires Building Engines for $300M https://therealdeal.com/2021/10/22/jll-buys-building-engines-for-300m/

 

• Offsite Expo: Driving change and promoting innovation  https://www.pbctoday.co.uk/news/mmc-news/offsite-expo-driving-change/101064/

 

• Bridgit secures $24M CAD in funding to provide construction companies with ‘workforce intelligence’  https://techcrunch.com/2021/10/26/bridgit/amp/

 

• Homebuilder hopes 3D printing will solve worker shortages, tests tech in 100 homes  https://arstechnica.com/gadgets/2021/10/texas-to-get-100-3d-printed-homes-as-builders-seek-to-solve-worker-shortages/?amp=1

 

• Ways Toward Sustainable Development In Solar And Construction  https://www.forbes.com/sites/forbesbusinesscouncil/2021/10/27/ways-toward-sustainable-development-in-solar-and-construction/amp/

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Strong growth in mortgage approvals and drawdowns continues: First-time buyers turn to second-hand homes as Covid restrictions hit construction  https://www.irishtimes.com/business/financial-services/strong-growth-in-mortgage-approvals-and-drawdowns-continues-1.4711107

 

• First-time buyers squeezed out by high prices, lack of stock and competition  https://m.independent.ie/irish-news/news/first-time-buyers-squeezed-out-by-high-prices-lack-of-stock-and-competition-40987466.html

 

• Surge in demand for surveyors to value homes ahead of property tax deadline  https://m.independent.ie/business/personal-finance/surge-in-demand-for-surveyors-to-value-homes-ahead-of-property-tax-deadline-40981384.html

 

• Local Property Tax: Tips for valuing your home ahead of the deadline – SCSI shares advice for property owners ahead of November 7th https://www.irishtimes.com/business/personal-finance/local-property-tax-tips-for-valuing-your-home-ahead-of-the-deadline-1.4710005

 

• Mortgages into 80s could resolve debt issues, insolvency service says: Extending repayments could help thousands nursing unaffordable Celtic Tiger-era debt https://www.irishtimes.com/business/mortgages-into-80s-could-resolve-debt-issues-insolvency-service-says-1.4709504

 

• New rental properties may be driving higher rents, industry group claims: Rents rose at average rate of 7% in second quarter of 2021, says Residential Tenancies Board  https://www.irishtimes.com/business/economy/new-rental-properties-may-be-driving-higher-rents-industry-group-claims-1.4711210

 

• Two-thirds of people say short-term rentals have negative impact on housing market  https://www.irishexaminer.com/news/arid-40729128.html

 

• Opinion: ‘Housing has been a crisis for disabled people for decades’: We have to change the way we think about housing for disabled people, writes James Cawley.  https://www.thejournal.ie/readme/housing-rights-accessibility-for-disabled-people-5573525-Oct2021/?amp=1

 

• How to get a good deal at a property auction: Bidders on online property auction sites must have finance ready https://www.irishtimes.com/life-and-style/homes-and-property/how-to-get-a-good-deal-at-a-property-auction-1.4705548?mode=amp

 

• Cork city centre apartment bundle for sale at €2.65m: Copley Hall is being sold with the benefit of existing tenancies https://www.irishexaminer.com/property/commercial/arid-40731477.html

 

• The cost of renovating two houses being renovated in Pondfields in New Ross is cheaper than knocking them and building afresh, Cllr Michael Sheehan was told at the municipal council meeting.  https://m.independent.ie/regionals/wexford/news/renovating-pondfields-houses-cheaper-than-building-afresh-40981504.html

 

• Cold facts and uncomfortable truths about retrofitting our homes: The Irish Examiner Property team asked Superhomes to assess two very different homes built a century apart. The results were a revelation that all homeowners would do well to heed  https://www.irishexaminer.com/property/residential/arid-40732509.html

 

• A court has approved a personal insolvency arrangement (PIA) which will allow a 57-year-old woman make mortgage repayments on her home until she reaches the age of 99.  https://m.independent.ie/irish-news/courts/woman-to-pay-mortgage-until-she-is-99-after-reaching-deal-to-extend-term-40980780.html

 

• Houses on RTÉ’s ‘Exclusive Homes’ show do sell, but not always for the asking price: The Palladian mansion Seafield House has sold for close to the €10m asking price  https://www.irishtimes.com/life-and-style/homes-and-property/houses-on-rt%C3%A9-s-exclusive-homes-show-do-sell-but-not-always-for-the-asking-price-1.4704720?mode=amp

 

• Róisín Murphy: ‘People who have kids with special needs need more support’: The architect and Home Rescue host tells us how good design transforms lives and why some families’ stories are extraordinary  https://www.irishexaminer.com/property/homeandoutdoors/arid-40732836.html

 

• ‘It seems they’ve lost their humanity’: Renters hit out at landlords requesting pet rent: Pet rent of €75 has been requested at a Dublin property development and one woman has been told pay a €500 deposit.  https://www.thejournal.ie/pet-rent-pet-reference-renters-dublin-ireland-5578636-Oct2021/

 

• New homes have been built next to mine. Am I entitled to redress for the loss of privacy? Property Clinic: The height of the boundary wall possibly breaches a planning condition  https://www.irishtimes.com/life-and-style/homes-and-property/new-homes-have-been-built-next-to-mine-am-i-entitled-to-redress-for-the-loss-of-privacy-1.4707110?mode=amp

 

• Receiver lined up for Brendan Mullin’s property venture: A London investment company has appointed a receiver over a property company which up to recently was headed by the former rugby international Brendan Mullin. https://www.thetimes.co.uk/article/receiver-lined-up-for-brendan-mullins-property-venture-mskpt5zk7

 

• Cypriot businessman purchased Horse Island off the coast of west Cork last year, Land Registry filings show. John Renos, who has business interests in China and Germany, paid €5.5 million for the 157-acre island  https://www.thetimes.co.uk/article/horse-island-purchased-by-cypriot-businessman-mdqvwv5q6

 

• When it all goes to plan: This 1940s dormer bungalow has been transformed into a bright and airy dream home — with space for every member of the family  https://www.thetimes.co.uk/article/when-it-all-goes-to-plan-t7tm3t2jj

 

• A look at Cork’s cheapest house which surrounded by picturesque views and history: ‘This 1910 period property schoolhouse is looking for a new lease of life as a family or holiday home’  https://www.corkbeo.ie/news/property/look-corks-cheapest-house-surrounded-21972837 (pictured)

 

• 4 unique homes around Ireland that are ready to move into for less than €350,000 https://www.image.ie/living/4-unique-homes-for-sale-for-less-than-e350000-314509/amp

 

 

COMMERCIAL PROPERTY NEWS

• Commercial Property showing signs of stability after Covid plunge: Prices in prime shopping centres still worst hit  https://www.independent.ie/business/commercial-property/property-showing-signs-of-stability-after-covid-plunge-40987216.html

 

• Vacancy rate hits 20-year low in Dublin industrial and logistics market: Covid-19 and Brexit continue to drive structural demand changes in sector  https://www.irishtimes.com/business/commercial-property/vacancy-rate-hits-20-year-low-in-dublin-industrial-and-logistics-market-1.4710810

 

• Hilton hotel at Custom House sold to Henderson Park real estate manager: Deal is part of broader sale of 12 UK/Irish Hilton hotels involving renovations  https://www.irishtimes.com/business/commercial-property/hilton-hotel-at-custom-house-sold-to-henderson-park-real-estate-manager-1.4707080

 

• Two prestigious office buildings in Dublin’s Georgian core for €6.5m: Adjoining buildings on Fitzwilliam Place come with a three-bed apartment and two mews  https://www.irishtimes.com/business/commercial-property/two-prestigious-office-buildings-in-dublin-s-georgian-core-for-6-5m-1.4711661

 

• Stripe starts hunt for its Dublin home: Collison brothers’ online payments company steps up its search for offices to house up to 2,000 workers  https://www.thetimes.co.uk/article/stripe-starts-hunt-for-its-dublin-home-wgx5jwcrq

 

• Carr Golf concludes rescue deal for Seapoint golf links over €3.6m Cerberus debts: Investors led by Carr will put up €1 million for improvements as members cede control  https://www.irishtimes.com/business/carr-golf-concludes-rescue-deal-for-seapoint-golf-links-over-3-6m-cerberus-debts-1.4709518

 

• Cushman & Wakefield’s Irish arm sees €3.5m loss over Covid curbs: Turnover almost halved to €10.7m in 2020 from €19.6m the previous year  https://www.irishtimes.com/business/commercial-property/cushman-wakefield-s-irish-arm-sees-3-5m-loss-over-covid-curbs-1.4712230

 

• Property needs to catch up when it comes to diversity and modern data, says the boss of JLL: The first woman to run a big surveying firm says her industry needs to go green https://www.thetimes.co.uk/article/property-needs-to-catch-up-when-it-comes-to-diversity-and-modern-data-says-the-boss-of-jll-sd5cr22tk

 

• Expect rise in warehouse rents to continue: Build-cost inflation affects warehousing far more than other sectors, which explains the upward trend as the market adjustshttps://www.businesspost.ie/commercial/expect-rise-in-warehouse-rents-to-continue-f224c4d3

 

• Chapters bookstore in Dublin to close down early next year after 40 years in business: The bookstore on Parnell Street is best-known for its extensive second-hand section as well as new books https://www.thejournal.ie/chapters-bookstore-in-dublin-to-close-down-early-next-year-5586875-Oct2021/

 

• €6m Lee Clinic a healthy investment after HSE suite leases bring campus to 100% occupancy  https://www.irishexaminer.com/property/commercial/arid-40731096.html

 

• Penneys lodges plan for revamp of Galway city flagship store https://galwaybayfm.ie/galway-bay-fm-news-desk/penneys-lodges-plan-for-revamp-of-galway-city-flagship-store/

 

• Green light for hostel and retail unit at site of Tonery’s pub https://galwaybayfm.ie/galway-bay-fm-news-desk/green-light-for-hostel-and-retail-unit-at-site-of-tonerys-pub/

 

• Prime retail spots in Cork ‘severely hit by the pandemic’, Lisney report finds: Pop-up shops likely to be short term feature of retail landscape  https://www.irishexaminer.com/property/commercial/arid-40731567.html

 

• Galway’s Corrib Shopping Centre on the market for €18.5m: Centre near Eyre Square is latest disposal from Marathon Asset Management https://www.irishtimes.com/business/commercial-property/galway-s-corrib-shopping-centre-on-the-market-for-18-5m-1.4707890

 

• Choice office investments in Dublin and Leitrim come up for sale  https://m.independent.ie/business/commercial-property/choice-office-investments-in-dublin-and-leitrim-come-up-for-sale-40991157.html (pictured)

 

• Woodland industrial units to rent: Exciting opportunity: Two units offering 17,000sq.ft. of space  https://www.kildarenow.com/news/home/682171/kildare-property-watch-woodland-industrial-units-to-rent.html

 

• Carlow town centre investment for €1.75m: Three high-profile retail units, with strong tenants in situ, offer income of €165,000 https://www.businesspost.ie/commercial/carlow-town-centre-investment-for-eur175m-5cbe5506

 

• More good news for Manor West as two more businesses to open at the retail park  https://www.radiokerry.ie/news/more-good-news-for-manor-west-as-two-more-businesses-to-open-at-the-retail-park-255980

 

• Global shares buoyed by upbeat corporate earnings: Euronext Dublin up almost 1% as some of the market’s heavy hitters lift the index https://www.irishtimes.com/business/markets/global-shares-buoyed-by-upbeat-corporate-earnings-1.4711097

 

• Yew Grove REIT has carried out asset management activities which have added to its rent roll and reduced portfolio vacancy. https://www.insidermedia.com/news/ireland/asset-management-activity-boosts-yew-grove

 

INTERNATIONAL PROPERTY NEWS

• Slow rise from ultra-low mortgage rates predicted  (UK) https://www.bbc.com/news/business-59091003

 

• Ministers consider national registration scheme in England to target rogue landlords: Number of families renting privately has doubled in two decades but many are living in dangerous homes https://amp.theguardian.com/society/2021/oct/24/ministers-consider-national-registration-scheme-in-england-to-target-rogue-landlords

 

• UK New home starts slump 27% amid labour and materials crisis https://www.constructionenquirer.com/2021/10/24/new-home-starts-slump-27-amid-labour-and-material-crisis/

 

• IKEA owner buys former Topshop London flagship store for £378m https://realassets.ipe.com/news/ikea-owner-buys-former-topshop-london-flagship-store-for-378m/10055861.article

 

• Third of Chinese developers could face debt problems as Evergrande contagion grows – report: Even if the embattled property giant manages to avoid default again, many other firms are heading the same way, warns S&P https://www.theguardian.com/world/2021/oct/28/third-of-chinese-developers-could-face-debt-problems-amid-evergrande-contagion-report

 

• Building more houses quickly is harder than it looks. Australia hasn’t done it in decades  https://theconversation.com/building-more-houses-quickly-is-harder-than-it-looks-australia-hasnt-done-it-in-decades-170223

 

• Jacobs team lands $8bn nuclear clean-up – A joint venture made up of Amentum, Jacobs and Honeywell has won the latest clean-up contract for the Oak Ridge Reservation (ORR) nuclear research site in Tennessee, USA.  https://www.theconstructionindex.co.uk/news/view/jacobs-team-lands-8bn-nuclear-clean-up (pictured)

 

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 wanted to ensure the content remains topical and we are now 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/