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:
- Government asking Catholic Church for land to build housing on is farcical: Eoin Burke-Kennedy: Is it going to ask the GAA, State’s other big landowner, same request? https://www.irishtimes.com/business/economy/government-asking-catholic-church-for-land-to-build-housing-on-is-farcical-1.4665430?mode=amp
- Michael O’Flynn gives his take on the Government’s plans to spend €20 billion over the next five years in order to solve the housing crisis https://www.rte.ie/news/business/2021/0908/1245348-the-housing-crisis/
- Minister to meet with developers and Council to discuss €600k ‘affordable’ homes: The Journal reported in June around fears about how ‘affordable’ housing at Poolbeg in Dublin would be delivered. https://www.thejournal.ie/minister-to-meet-with-developers-and-council-to-discuss-e600k-affordable-homes-5545687-Sep2021/
- Cairn chief takes aim at mortgage rules and ‘irrational fear of apartments’: Full-year operating profit expected to be about €52m, increasing to €85m in 2022 https://www.irishtimes.com/business/economy/cairn-chief-takes-aim-at-mortgage-rules-and-irrational-fear-of-apartments-1.4669218
- Ronan: reserving homes for locals is discriminatory https://www.thetimes.co.uk/article/ronan-reserving-homes-for-locals-is-discriminatory-5vjk0knhr
- Heartbreaking: Two children who spent the night in an apartment with their mother’s body in homeless accommodation initially refused to open the door, an inquest heard. https://m.independent.ie/irish-news/courts/children-spent-night-with-mothers-body-in-homeless-shelter-after-she-overdosed-40839193.html
- Former Threshold CEO Bob Jordan appointed as Housing Agency chief: Minister for Housing welcomes appointment of former Coveney adviser during ‘critical time’ https://www.irishtimes.com/news/social-affairs/former-threshold-ceo-bob-jordan-appointed-as-housing-agency-chief-1.4668558
- Housing activists poster dozens of derelict Cork sites in advance of protest https://www.irishexaminer.com/news/munster/arid-40696055.html?type=amp
- Peek inside some of the most exclusive houses on the Irish market https://amp.rte.ie/amp/1245428/ Also: Trophy houses: ‘They’re unsustainable, inappropriate status symbols, and we must lose our obsession with them’ https://m.independent.ie/irish-news/news/trophy-houses-theyre-unsustainable-inappropriate-status-symbols-and-we-must-lose-our-obsession-with-them-40842208.html
- Dutch cities look to ban private investors from property market to combat soaring house prices: Authorities aim to ban foreign investors from purchasing real estate for the purpose of renting it out in an effort to curb the country’s current housing crisis https://www.buzz.ie/news/irish-news/dutch-cities-look-ban-private-24921653.amp
- The evolving data centre construction market https://www.capacitymedia.com/articles/3829533/the-evolving-data-centre-construction-market Also, in the Business Post today: Majority of voters believe data centres should be restricted: Fifty-nine per cent of those polled by Red C want data centre development to be controlled to reduce the risk of electricity ‘rolling blackouts’ https://www.businesspost.ie/politics/majority-of-voters-believe-data-centres-should-be-restricted-9bf089b3
- EirGrid projections ‘over-estimated’, say data centre operators: Operators believe they are being blamed for State’s recent electricity shortages https://www.irishtimes.com/business/energy-and-resources/eirgrid-projections-over-estimated-say-data-centre-operators-1.4670803
- Billionaire entrepreneur Marc Lore wants to build nation’s first woke city https://nypost-com.cdn.ampproject.org/c/s/nypost.com/2021/09/07/ex-walmart-exec-marc-lore-to-build-new-city-called-telosa/amp/
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. Next week: Build-to-rent (BTR) special!
*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
- Ireland’s Empty Towns – Q&A: How can the Derelict Sites Register be made fit for purpose? Using compulsory acquisition after two years is the ultimate deterrent https://www.irishexaminer.com/opinion/commentanalysis/arid-40695428.html?type=amp Also: Ireland’s empty towns: Dereliction is hiding in plain sight https://www.irishexaminer.com/news/spotlight/arid-40695257.html?type=amp
- Dublin landmark Saint Patrick’s Cathedral completes its biggest building project in 150 years: The iconic building – which is over 700 years old – needed its entire roof replaced. https://www.thejournal.ie/dublin-saint-patricks-cathedral-restoration-project-5544776-Sep2021/
- Dublin 4 residents fail to block €50m build to rent scheme: Total of 26 submissions were lodged by third parties concerned over the development https://www.irishtimes.com/business/construction/dublin-4-residents-fail-to-block-50m-build-to-rent-scheme-1.4670629
- TDs support residents’ objections to plans for €113m housing scheme with 329 homes https://m.independent.ie/irish-news/tds-support-residents-objections-to-plans-for-113m-housing-scheme-with-329-homes-40824282.html
- Urban project aims to increase population in west Dublin area from 5,000 to 75,000: The City Edge project would redevelop the area between the Naas Road, Ballymount and Park West https://www.thejournal.ie/city-edge-project-west-dublin-city-5545353-Sep2021/
- Fingal’s Broadmeadow Greenway to include 1,365 residential units and wildlife park: The masterplan for the site in Corballis comprises 346 houses, 352 duplex units and 667 apartment units, as well as a 24-classroom school and three creches https://www.businesspost.ie/commercial/fingals-broadmeadow-greenway-to-include-1365-residential-units-and-wildlife-park-e8bc5030
- Permanent outdoor dining area in Howth ‘in the shape of a Viking ship’ awarded 600k funding: The “all-weather” dining area will be built in Howth Harbour https://www.dublinlive.ie/news/dublin-news/permanent-outdoor-dining-area-howth-21530214
- Plans unveiled for the revamp of Cork city streets for more outdoor dining: Five streets – Princes Street, Caroline Street, Pembroke Street, Beasley Street and Union Quay – will receive €1.3m worth of new bespoke weatherproofing infrastructure https://www.irishexaminer.com/news/munster/arid-40695263.html
- McGrath says Cork-Limerick motorway will be included in new National Development Plan: Public Expenditure Minister said the new NDP, which will include €165bn worth of spending between now and 2030, will be “very good for Cork” https://www.irishexaminer.com/news/munster/arid-40694462.html
- Public consultation under way on proposed overhaul of Co Wicklow’s N11: Multimillion euro project is not about putting more cars on the road, say officials https://www.irishtimes.com/news/environment/public-consultation-under-way-on-proposed-overhaul-of-co-wicklow-s-n11-1.4665563?mode=amp
- More than 3,500 people supported by homeless charity https://amp.rte.ie/amp/1245070/
- Planning row erupts between Waterford hotel and residents over live music venue:: Two appeals have been lodged against the recent decision of Waterford City and County Council to grant planning permission to the Haven Hotel in Dunmore East for a function room extension and bar https://www.irishexaminer.com/news/munster/arid-40540073.html
*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details*
CONSTRUCTION & DEVELOPMENT NEWS
*Calling all Irish construction SMEs, please sign up with the Government-appointed CSG Innovation & Digital Adoption body, which will be resourcing firms to identify and overcome challenges to critical digitization. Link here: http://eepurl.com/hDFYfL
- Almost 500 construction workers take their own lives every year in the UK and Ireland. An emotive video has been released to provide guidance for anybody affected, ahead of World Suicide Prevention Day (10 September) https://www.pbctoday.co.uk/news/health-safety-news/suicide-prevention-construction-workers/98888/
- Constructing the perfect storm: After the chaos of Covid-19, what comes next for Irish construction? Here, a Dublin-based architect, a builder and a quantity surveyor have their say on the many issues facing the industry, from tenders to timber shortages to global competition https://www.businesspost.ie/property-insight/constructing-the-perfect-storm-25e711a3
- Housebuilding in Dublin returns to Celtic Tiger levels: Report finds house commencements in capital climbed to over 5,000 in second quarter https://www.irishtimes.com/business/economy/housebuilding-in-dublin-returns-to-celtic-tiger-levels-1.4669398
- Housing planning approvals drop 15% due to pandemic disruption: Approved housing units numbered 18,113 across the first six months of 2021. Of these, 11,138 were apartments and 6,975 were houses, according to CSO figures https://www.irishexaminer.com/business/economy/arid-40695638.html
- Builders walking away from school projects over costs – CIF: Losses assured if taking work priced up 18 months ago, says Construction Industry Federation https://www.irishtimes.com/business/construction/builders-walking-away-from-school-projects-over-costs-cif-1.4669851 Also cover in The Sunday Times today: Builders have pulled out of at least a dozen school construction projects this summer after “winning” tender competitions because they fear hyperinflation in building material costs would render the contracts loss-making https://www.thetimes.co.uk/article/hyperinflation-threat-to-new-schools-htj0b0957
- Land value sharing measure doesn’t go as far as Kenny report recommended- Cantillon: Government should give local authorities more power over development land https://www.irishtimes.com/business/economy/land-value-sharing-measure-doesn-t-go-as-far-as-kenny-report-recommended-1.4666628?mode=amp
- Developers set to warn TDs over planning ‘slowdown’ as applications drop by almost a third: The Government is proposing replacing the Strategic Housing Development (SHD) process introduced in 2017. https://www.thejournal.ie/construction-industry-warns-of-slowdown-in-planning-process-amid-proposed-reform-5543696-Sep2021/
- Government again misses the chance to score on housing open goal: Minister for Housing Darragh O’Brien has come under fire over the new housing plan and, specifically, certain exemptions for developers https://www.irishexaminer.com/opinion/commentanalysis/arid-40580300.html?type=amp
- Underresourcing of council planning departments is huge issue for State, committee hears: Councils must be properly resourced to ensure implementation of new Bill, expert says https://www.irishtimes.com/news/ireland/irish-news/underresourcing-of-council-planning-departments-is-huge-issue-for-state-committee-hears-1.4669861
- The Housing Agency’s John O’Connor writing about the proposed 20% Part V requirement: https://www.businesspost.ie/
- CIF says plans to deep retrofit 500,000 homes by 2030 ‘unrealistic’: Parlon claims logistical issues could undermine target for 300,000 new homes by the end of 2030 https://www.irishtimes.com/business/construction/cif-says-plans-to-deep-retrofit-500-000-homes-by-2030-unrealistic-1.4670734
- ‘Encourage children to build a career in construction’: With demand for 27,000 more construction workers to build houses, parents should steer their children towards the building trades, the Minister for Further and Higher Education has said https://www.businesspost.ie/construction/harris-encourage-children-to-build-a-career-in-construction-dc79fba2
- Majority favour taller buildings in urban areas, survey finds: Despite high level of objections, most people support taller, higher density development https://www.irishtimes.com/business/economy/majority-favour-taller-buildings-in-urban-areas-survey-finds-1.4666584?mode=amp
- Initiative Ireland has secured the backing of Goldman Sachs Asset Management, who will join Fairfield Real Estate Finance as a backer. The partnership is raising €900m to lend to experienced property developers to finance 7,500 homes by 2024 https://amp.rte.ie/amp/1245911/
- Tetrarch, the Irish property group which owns the Mount Juliet and Citywest hotels, has got private equity backing for its plans to build 1,500 homes over the next five years. https://www.thetimes.co.uk/article/tetrarch-lands-1-500-new-homes-deal-pccqlsxp2
- Planning permission for 445 apartments challenged: Local residents’ group in Stepaside contends that application was not properly assessed https://www.irishtimes.com/business/construction/planning-permission-for-445-apartments-challenged-1.4667360
- Council expresses ‘serious reservations’ on Merrion Square ‘build to rent’ scheme: The six storey scheme includes 19 build to rent apartments. https://www.thejournal.ie/dublin-city-council-merrion-square-build-to-rent-5543104-Sep2021/
- Dublin site with full planning for 550 rental apartments guiding at €25m: Chivers factory scheme offered for sale last year as €170m forward-funding opportunity https://www.irishtimes.com/business/commercial-property/dublin-site-with-full-planning-for-550-rental-apartments-guiding-at-25m-1.4667419
- Green light for 276 new homes in Bishopstown: Planning approved for large development in Cork’s western suburbs https://www.irishexaminer.com/property/developmentconstruction/arid-40562642.html
- Green light for almost 100 new homes in Cork town https://www.echolive.ie/corknews/arid-40374839.html
- Janssen plans €150m plant expansion in Cork: Pharmaceutical firm could create up to 180 new jobs https://m.independent.ie/business/irish/janssen-plans-150m-plant-expansion-in-cork-40837280.html
- Legal challenge brought against planning extension for Apple data centre: Carbon emissions targets significantly changed since permission granted, court hears https://www.irishtimes.com/business/technology/legal-challenge-brought-against-planning-extension-for-apple-data-centre-1.4669514
- Aldi submits plan for new store in Athenry https://galwaybayfm.ie/galway-bay-fm-news-desk/aldi-submits-plan-for-new-store-in-athenry/
- Connemara County Councillors vote down Moycullen social housing plan https://connachttribune.ie/connemara-county-councillors-vote-down-moycullen-social-housing-plan/amp/
- A Defence Forces firing range in Oranmore, Co Galway, has been selected as a possible location for a “mega-fab” Intel semiconductor plant that could create 10,000 jobs https://www.thetimes.co.uk/article/intel-targets-army-firing-range-ireland-job-factory-bvt7c726m
- Apartment plan could see demolition of ‘old shop in disrepair’ at Limerick estate https://www.limerickleader.ie/news/local-news/662185/apartment-plan-could-see-demolition-of-old-shop-in-disrepair-at-limerick-estate.html
- Proposed €30m film-production studio – a ‘reel’ boost for Tipperary economy https://www.agriland.ie/farming-news/proposed-tipperary-e30m-film-production-studio-a-reel-boost-for-north-tipp-economy/
- The developer Joe O’Reilly is seeking to make his planned Killeen Castle hotel a touch more exclusive by reducing the number of rooms https://www.thetimes.co.uk/article/king-of-the-castle-cuts-hotel-room-numbers-qntf2587j
- Celbridge pub with income and development potential for €1.7m: The sale of Henry Grattan’s includes a site and two income-producing investments https://www.irishtimes.com/business/commercial-property/celbridge-pub-with-income-and-development-potential-for-1-7m-1.4666382
- Derelict Naas industrial sites must be developed https://www.kildarenow.com/news/home/663201/derelict-naas-industrial-sites-must-be-developed.html
- 15-acre Wexford town site with full planning permission for 157 residential units on the market for €4.7m https://m.independent.ie/regionals/wexford/news/15-acre-wexford-town-site-with-full-planning-permission-for-157-residential-units-on-the-market-for-47m-40823539.html
- Irish construction certification company opens first Scottish office: Dublin-based business plans to create more than 40 jobs within the next two years https://www.insider.co.uk/news/irish-construction-certification-company-opens-24925023.amp
- PM Group ‘keen’ to make acquisition as its profits soar: Underlying revenue at the group rose 9pc to €398m, while its operating profit surged 30pc to €34.8m https://m.independent.ie/business/irish/pm-group-keen-to-make-acquisition-as-its-profits-soar-40835226.html
- Data centre boom leaves Winthrop on cloud nine https://www.thetimes.co.uk/article/data-centre-boom-leaves-winthrop-on-cloud-nine-gjj0b6s5p
- Co Donegal company E+I Engineering acquired in $2bn deal: E+I Engineering provides of products widely used in data centres https://www.irishtimes.com/business/technology/co-donegal-company-e-i-engineering-acquired-in-2bn-deal-1.4668342 And for the long form read: How a Donegal engineering company sold for $2bn – and who is cashing in? How did E&I Engineering achieve unicorn status, and who are the shareholders behind Cyprus holding companies set to reap the benefits? https://thecurrency.news/articles/59508/powered-up-how-a-donegal-engineering-company-sold-for-2bn-and-who-is-cashing-in/
- PM Group to add 400 new jobs, including 200 in Ireland https://www.rte.ie/news/business/2021/0909/1245544-pm-groups-new-jobs/
- Cairn Homes gross profit jumps 86% as home sales almost double: Full-year operating profit is now expected to be about €52m, increasing to €85m in 2022: https://www.irishtimes.com/business/economy/cairn-homes-gross-profit-jumps-86-as-home-sales-almost-double-1.4669218 More in the Business Post today: As profits double in one year, Cairn positions itself to become a ‘national housebuilder’: Interim results reveal operating profit of €11.7m in the first half of the year, while several large housing developments are on the way in Cork, Kilkenny & Galway https://www.businesspost.ie/companies/company-watch-as-profits-double-in-one-year-cairn-positions-itself-to-become-a-national-housebuilder-2795f5eb
- Hibernia Reit wins award for safe, healthy offices post-Covid – The International Well Building Institute introduced the Rating to guide employers on best practice, to mitigate risk during the pandemic https://www.businesspost.ie/commercial/hibernia-reit-wins-award-for-safe-healthy-offices-post-covid-64f34528
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 *
- STARTUP RESOURCES – Incubator List: Find the best startup program among world’s 550+ best startup accelerators, incubators and investors https://incubatorlist.com/
- Snapfix looks to raise up to €10m in new funding round: Company has developed WhatsApp-like solution used for maintenance purposes https://www.irishtimes.com/business/technology/snapfix-looks-to-raise-up-to-10m-in-new-funding-round-1.4666398?mode=amp
- Dublin firm ParkOffice launches smart parking software tool for employees https://www.siliconrepublic.com/careers/parkoffice-dublin-employees-software-tool-smart-parking
- Irish construction company ESS Modular announced 70 jobs at its new UK office on Enterprise Ireland’s first in-person trade mission since the pandemic began. https://www.siliconrepublic.com/start-ups/ess-modular-irish-housing-innovation-uk-construction-enterprise-ireland
- The world’s biggest investors believe 21-year-old Shane Curran can disrupt how the world manages #dataprivacy.Stephen Kinsella has just launched a radically different computer science course. Here, they discuss everything from education to entrepreneurship https://thecurrency.news/articles/59476/encryption-education-and-objective-truth-when-stephen-kinsella-met-shane-curran/
- PropTech during Covid has attracted younger property buyers https://www.estateagenttoday.co.uk/breaking-news/2021/9/oproptech-during-covid-has-attracted-younger-property-buyers–claim
- Leading figures in the proptech sector from both sides of the Atlantic discussed key differences between the two countries and the impact of the pandemic on the industry. https://www.propertyweek.com/insight/who-is-the-proptech-leader-uk-or-us/5115697.article
- UK Lettings giant launches pre-tenancy proptech portal for agents: Let Alliance says its new Vision+ platform will save agents time, improve their user experience and reduce their compliance burden. https://thenegotiator.co.uk/let-alliance-proptech-vision-plus-launch/
- Survey finds FMs lack knowledge on how smart technology can support them in their roles https://www.fmj.co.uk/survey-finds-fms-lack-knowledge-on-how-smart-technology-can-support-them-in-their-roles/
- Electric Footsteps? Novel Wooden Floors Generate Power From Walking – Using an energy-harvesting device, also known as a nanogenerator. https://interestingengineering.com/electric-footsteps-novel-wooden-floors-generate-power-from-walking
- Better.com acquires UK-based Property Partner ahead of SPAC close https://techcrunch.com/2021/09/09/better-acquires-property-partner/
- Our Favorite Fish In A Sea Of PropTech Companies: https://seekingalpha.com/amp/article/4454645-redfin-our-favorite-fish-in-a-sea-of-proptech-companies
- Proptech Startup Raises $20M To Make Multifamily Development Process Faster https://www.bisnow.com/national/news/technology/proptech-startup-raises-20m-to-make-multifamily-development-process-faster-110142
- Thomas Bradford Is Hines’ New Proptech Guru https://commercialobserver.com/2021/09/thomas-bradford-is-hines-new-proptech-guru/
- This Mexican proptech wants to revolutionize the rental of a commercial spot: Spot² is a company that transforms the way that sellers can find a commercial space for their business. Making clients get the ideal spot in less than 10 days https://www.entrepreneur.com/article/384956
RESIDENTIAL PROPERTY NEWS (including PRS)
- Irish Examiner view: Pressure is rising in the market for homes – The stock of empty buildings and vacant homes could provide a swift response to tackling the housing crisis https://www.irishexaminer.com/opinion/ourview/arid-40374272.html?type=amp
- Ireland back to the top of mortgage league of shame https://m.independent.ie/business/personal-finance/property-mortgages/ireland-back-to-the-top-of-mortgage-league-of-shame-40829468.html
- Lose-lose situation: tenants are priced out and home owners pay through the nose https://m.independent.ie/opinion/comment/lose-lose-situation-tenants-are-priced-out-and-home-owners-pay-through-the-nose-40839123.html
- ‘Go on strike’ — David McWilliams explains why now is ‘the worst time ever to buy a house’ https://extra.ie/2021/09/08/property/david-mcwilliams-housing-for-all/amp
- Ireland’s first cost-rental homes open at €600 a month less than nearby properties https://www.irishexaminer.com/news/arid-40402418.html?type=amp
- Renters return to the capital as workplaces set to reopen: Three-fold increase in demand for properties, particularly for overseas tenants https://www.irishtimes.com/news/consumer/renters-return-to-the-capital-as-workplaces-set-to-reopen-1.4667786?mode=amp
- Accidental landlords look to calculate the tax fallout of property crash- Q&A: Dominic Coyle answers your personal finance questions https://www.irishtimes.com/business/personal-finance/accidental-landlords-look-to-calculate-the-tax-fallout-of-property-crash-1.4665418
- Will Fair Deal scheme changes make it worthwhile to rent out the empty family home? https://www.irishtimes.com/life-and-style/homes-and-property/will-fair-deal-scheme-changes-make-it-worthwhile-to-rent-out-the-empty-family-home-1.4665473?mode=amp
- More Dublin student accommodation is set aside for tourists https://www.thetimes.co.uk/article/more-dublin-student-accommodation-is-set-aside-for-tourists-h9mlrwk3q
- Reported discrimination by landlords over HAP almost doubles: Threshold received 70 reports of landlords refusing to accept HAP in first half of year https://www.irishtimes.com/news/social-affairs/reported-discrimination-by-landlords-over-hap-almost-doubles-1.4667683
- Student behaviour has caused Limerick landlords ‘to exit rental market’ https://www.limerickleader.ie/news/home/662869/student-behaviour-has-caused-limerick-landlords-to-exit-rental-market.html
- ‘We have Dublin prices for houses even though we are on Wexford salaries’: Coastal areas in Wexford have been experiencing a property boom in recent months, more often than not it is the local buyer that is losing out to purchasers from Dublin and the UK https://m.independent.ie/regionals/wexford/news/we-have-dublin-prices-for-houses-even-though-we-are-on-wexford-salaries-40823658.html
- Tensions grow between state and mica homeowners as ‘D-Day’ nears for redress scheme: Representatives on the government’s Mica Action Group have accused the Department failing to adequately engage in talks over a compensation scheme for families affected by defective concrete blocks https://www.businesspost.ie/houses/tensions-grow-between-state-and-mica-homeowners-as-d-day-nears-for-redress-scheme-c1885dee
- The Irishman at the helm of iconic German furniture company https://www.irishtimes.com/life-and-style/homes-and-property/interiors/the-irishman-at-the-helm-of-iconic-german-furniture-company-1.4661956?mode=amp
- Building on a budget: Declan O’Donnell takes on self-build project amid rising property prices: Rising Dublin property prices prompted Declan O’Donnell to take on his own self-build — and he couldn’t be happier with the result https://www.thetimes.co.uk/article/building-on-a-budget-architect-self-build-home-rising-dublin-property-prices-77t665nng
COMMERCIAL PROPERTY NEWS
- Office market starts to find its feet after Covid-19: It’s uncertain what the post-coronavirus version of office life will be like in the short and medium term, but demand is returning in the Dublin market https://www.businesspost.ie/property-insight/office-market-starts-to-find-its-feet-after-covid-19-05426082
- Investors seek €395m from sale of stake in Facebook’s Dublin 4 HQ: Cushman & Wakefield bring four blocks at tech giant’s Ballsbridge campus to market https://www.irishtimes.com/business/commercial-property/investors-seek-395m-from-sale-of-stake-in-facebook-s-dublin-4-hq-1.4667203
- Qualtrics to double the size of its Dublin headquarters: US software company says it is to take on additional 1,000 employees across Europe https://www.irishtimes.com/business/technology/qualtrics-to-double-the-size-of-its-dublin-headquarters-1.4666069
- Accenture secures office space for 300 workers in south Dublin: Professional services giant signs 10-year lease at The Campus in Cherrywood https://www.irishtimes.com/business/commercial-property/accenture-secures-office-space-for-300-workers-in-south-dublin-1.4666254?mode=amp
- Modern office investment with sitting tenants on sale for €10.75 million: Northwood House in Santry, Dublin 9 comprises a modern five-storey over basement office building providing 24 office suites https://www.businesspost.ie/commercial/modern-office-investment-with-sitting-tenants-on-sale-for-eur1075-million-82fa634f
- H&M to open for business at Dublin’s new Clerys Quarter: High-end brand Flannels in talks for rest of retail space at historic department store https://www.irishtimes.com/business/commercial-property/h-m-to-open-for-business-at-dublin-s-new-clerys-quarter-1.4670649
- Life Style Sports to lease new €20m carbon neutral distribution centre: Sports retailer says centre offers new sustainability and operational capabilities https://www.irishtimes.com/business/retail-and-services/life-style-sports-to-lease-new-20m-carbon-neutral-distribution-centre-1.4668321
- Developer Pat Crean’s Marlet in €78m deal for retail park portfolio: Parks Collection comprises leading schemes in Dublin, Drogheda and Clonmel https://www.irishtimes.com/business/commercial-property/developer-pat-crean-s-marlet-in-78m-deal-for-retail-park-portfolio-1.4670453
- Forecourt retailer Circle K buys 10 Dublin convenience stores: Canadian group buys high profile Londis outlets from Griffin Group in first move onto shopping streets https://www.irishtimes.com/business/retail-and-services/forecourt-retailer-circle-k-buys-10-dublin-convenience-stores-1.4670296
- Investment in Europe’s hotel sector hits €3bn: Citywest Hotel lender says figure is still below pre-Covid level https://m.independent.ie/business/irish/investment-in-europes-hotel-sector-hits-3bn-40827827.html
- JD Wetherspoon seeking €2.5m for south Dublin pub: UK group acquired Three Tun Tavern in Blackrock for €1.5m in 2013 in first Irish deal https://www.irishtimes.com/business/commercial-property/jd-wetherspoon-seeking-2-5m-for-south-dublin-pub-1.4667353?mode=amp
- Four Irish Pub Properties Hit The Market https://www.hospitalityireland.com/amp/pub-bar-nightclub/four-irish-pub-properties-hit-the-market-145506
- Kildare pub receiving ownership offers as high as €1.7million, agency claims https://www.kildarenow.com/news/local-news/662980/kildare-pub-receiving-ownership-offers-as-high-as-1-7million-agency-claims.html
- Surge in demand for flexible workspaces as companies plan their office return: Republic of Work on Cork’s South Mall has seen a 200% increase in enquiries about workspaces https://www.irishexaminer.com/business/companies/arid-40577405.html?type=amp
INTERNATIONAL PROPERTY NEWS
- Builder breaks back in fall from work platform: A UK building contractor and roofing specialist have been fined after an employee fell five metres from a first-floor extension breaking several vertebrae in his lower back. https://www.constructionenquirer.com/2021/09/06/builder-breaks-back-in-fall-from-work-platform/
- UK demand for rental home mortgages surges amid domestic holiday boom: Number of ‘holiday let’ mortgage deals on the market more than doubles in a year https://www.theguardian.com/money/2021/sep/06/uk-rental-home-mortgage-demand-surges-domestic-holiday-boom
- UK construction growth and car sales hit by supply chain crisis – as it happened | Business | The Guardian https://amp.theguardian.com/business/live/2021/sep/06/uk-car-sales-supply-chain-problems-construction-pmi-builders-stock-markets-ftse-business-live
- Major Chinese property developer on the brink of default https://www.wsws.org/en/articles/2021/09/10/ever-s10.html More about this in the Business Post today: Could one company’s fall trigger a property collapse in China?: The ongoing struggles of beleaguered property giant Evergrande pose a huge threat not just to its own survival, but to the very stability of the Asian superpower’s financial system https://www.businesspost.ie/the-big-picture/vincent-boland-could-one-companys-fall-trigger-a-property-collapse-in-china-a3f8104b
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/