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:
- The Ronan Group and Colony Capital have taken over the broadsheets again today with another (this time full page) spread urging:
‘DUBLIN – IT’S TIME TO LOOK UP. Our competitors across Europe do.’
- Elevation: New all-Ireland initiative is launched to give startups the Edge – Independent.ie https://m.independent.ie/business/small-business/latest-news/elevation-new-allireland-initiative-is-launched-to-give-startups-the-edge-38496149.html
- Excellent resource from the Apartment Owners’ Network listing all media interviews and stories, many relating to building defects https://apartmentownersnetwork.org/aon-media-mentions/ and ‘Ireland’s defective buildings: Not just a Celtic Tiger problem’ https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/life-and-style/homes-and-property/ireland-s-defective-buildings-not-just-a-celtic-tiger-problem-1.4007777?mode=amp
- The Irish Times view on poor construction standards: Government is ignoring a dangerous situation https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-poor-construction-standards-government-is-ignoring-a-dangerous-situation-1.4016137?mode=amp
- Dublin house prices fall, Stillorgan redevelopment, and what a no-deal Brexit means https://www.irishtimes.com/business/economy/dublin-house-prices-fall-stillorgan-redevelopment-and-what-a-no-deal-brexit-means-1.4016443?mode=amp
- Don’t miss the CitA BIM Gathering in Galway on the 26th September – Property District | Irish Property Services https://propertydistrict.ie/dont-miss-the-cita-bim-gathering-in-galway-on-the-26th-september/
- Almost two-thirds of Irish FDI is ‘phantom’ – IMF study https://www.irishtimes.com/business/economy/almost-two-thirds-of-irish-fdi-is-phantom-imf-study-1.4012191?mode=amp
- Construction PMI sees first rise in four months https://www.rte.ie/news/business/2019/0909/1074739-construction-pmi/
- Related… Homebuilding up, confidence down in construction report – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/homebuilding-up-confidence-down-in-construction-report-38479436.html
- Digital storage centres are powering up rural Ireland, but the network is feeling the pressure.’ Data Centres – Property District | Irish Property Services https://propertydistrict.ie/data-centres
- UK economy shows unexpected strength in July https://www.rte.ie/news/business/2019/0909/1074782-uk-economy-figures/
- And yet… NI economy ‘may have already entered recession’ https://www.bbc.com/news/uk-northern-ireland-49609767
- First co-working, then co-living, now co-warehousing (is this a thing?) – thanks to Aaron Block for sharing: Co-Warehousing Startup Saltbox Lands Village Global-Led Seed to Provide Community for the ‘Concrete Class’ – Hypepotamus https://hypepotamus.com/news/saltbox-closes-seed-opens-first-location/
- Accessibility and mobility obstructions excepted, this is a wholly unhelpful approach for #retail – Dublin City Council seizes 57 sandwich boards from businesses in first week of crackdown https://www.thejournal.ie/sandwich-boards-dublin-city-council-seize-4801994-Sep2019/?amp=1
- Retailers call for action as high street store closures soar https://www.theguardian.com/business/2019/sep/11/retailers-call-for-action-as-high-street-store-closures-soar
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@caroltallon.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!)
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). 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.
We had our first all-female line-up on Property Matters this week. Emma Hayes, Head of PR & New Media with Property District co-hosted with myself (Carol Tallon). We were joined by Joanne Geary, Director of Customer Experience and Innovation with Sherry FitzGerald, and Louise Murphy, Sales Director and Co-Founder of Cyc-Lok. Topics covered include: Public consultation, proptech, online systems for estate agencies, innovative (and revenue-generating) bicycle parking for property developers and asset managers.
Listen back: https://anchor.fm/ipropertyradio/episodes/Property-Matters–September-10th–2019-e5bngr
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
Email the Property Matters team at hello@iPropertyRadio.com
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Dublin City’s White Water Rafting Centre Open For #PublicConsultation | PLACEengage https://placeengage.com/dublin-citys-white-water-rafting-centre-open-for-public-consultation/
- Closure of Dublin’s Bernard Shaw pub ‘just another sign the city is changing’ https://www.irishtimes.com/news/social-affairs/closure-of-dublin-s-bernard-shaw-pub-just-another-sign-the-city-is-changing-1.4014128?mode=amp
- Call for special council meeting to discuss Dublin ‘cultural crisis’ https://www.irishtimes.com/news/politics/call-for-special-council-meeting-to-discuss-dublin-cultural-crisis-1.4017148?mode=amp
- ‘Dublin is my soul city and Irish people are the funniest people in the world’ #placemaking
https://www.irishtimes.com/life-and-style/people/dublin-is-my-soul-city-and-irish-people-are-the-funniest-people-in-the-world-1.4007433?mode=amp
- Wheels In Motion For Revamp Of Parnell Street In Ennis – Clare FM https://www.clare.fm/news/economy-employment/wheels-motion-revamp-parnell-street-ennis/
- Councillors Get Sight of New Designs for Homes at O’Devaney Gardens https://www.dublininquirer.com/2019/09/11/councillors-get-sight-of-new-designs-for-homes-at-o-devaney-gardens
- Farmer’s request for Intel bosses to be cross-examined over $4bn Leixlip scheme is turned down – Independent.ie https://m.independent.ie/business/commercial-property/farmers-request-for-intel-bosses-to-be-crossexamined-over-4bn-leixlip-scheme-is-turned-down-38496165.html
- Space comes at a premium in megacities — community does too #coliving https://amp-ft-com.cdn.ampproject.org/c/s/amp.ft.com/content/4c396518-b796-11e9-8a88-aa6628ac896c
- You might recall the report from last week’s Sunday Property Round-Up about The Collective (co-living giant) developing at Fumbally. In The Sunday Times today, Larissa Nolan reports that the tenants (members, guests, licensees – whatever term you choose) will be monitored via CCTV in all areas except the en-suite bedrooms “for legitimate security and safety purposes…”
- ► VIDEO: Here’s a sneak peek inside Ireland’s newest museum, MOLI https://www.irishtimes.com/culture/books/here-s-a-sneak-peek-inside-ireland-s-newest-museum-moli-1.4017230?mode=amp
*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
- In the Sunday Independent today, Philip Ryan quotes former Cabinet Minister Denis Naughten as he reports on how the ‘Fair deal rent income rules will leave streets derelict: Scheme effectively banning people from letting their homes while in care – ex-minister.’
- Also in the Independent, Michael Cogley reports that BlackRock (asset manager) “is set to open a hostel in Dublin as part of its push to develop a pan-European hospitality portfolio”.
- In the business section of The Irish Times today, Brian Carey reports that Echelon Data Centres is to invest £150m into a facility at Greenwich, in addition to the large scale centres currently being developed at Arklow and Clondalkin. Niall Molloy is also the featured business interview on page 6, which makes for an interesting read.
- Download the Irish Data Centre Market Q2 2019 Report published by Host in Ireland: https://www.register.hostinireland.com/2019-q2-data-hosting-report
- Also in The Sunday Times today: Master Card is “in the running” to lease three office blocks at Leopardstown developed by Cryil McGuire; and the chairman of Green Reit is to be paid an extra €10,000 per month for each month in which heh spends up to six hours working on the on-going €1.34bn sale.
- One of the lead stories in The Sunday Business Post today reports that ‘Cairn Homes could sell 3,000 more apartments to cuckoo funds’. This report, by Peter Dwyer, goes on to say that the homebuilder has identified nine developments (and one currently under construction) that are potential PRS opportunities.
- Also in the SBP: Killian Woods reports that ‘Heritage raises concern over environmental effect of shared living scheme’ referring to Bartra’s proposed schemes at Ringsend and Rathmines; and there is a news homes advertising special in the property supplement.
- Dublin house prices now falling for first time in seven years https://www.irishtimes.com/business/economy/dublin-house-prices-now-falling-for-first-time-in-seven-years-1.4016008?mode=amp
- High costs of mortgages sees borrowers being hit for excess charges of up to €80,000 over the life of a loan – Independent.ie https://m.independent.ie/business/high-costs-of-mortgages-sees-borrowers-being-hit-for-excess-charges-of-up-to-80000-over-the-life-of-a-loan-38495152.html
- Brexit blamed for fall in Dublin property prices https://www.irishtimes.com/business/economy/brexit-blamed-for-fall-in-dublin-property-prices-1.4016549?mode=amp
- First-time buyers earning more than €80,000 account for more than a third of all mortgage drawdowns https://www.breakingnews.ie/ireland/first-time-buyers-earning-more-than-80000-account-for-more-than-a-third-of-all-mortgage-drawdowns-950048.html
- Anger over ‘affordable’ redevelopment where buyers will need will need to earn at least €108K per year and have €42K savings – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/anger-over-affordable-redevelopment-where-buyers-will-need-will-need-to-earn-at-least-108k-per-year-and-have-42k-savings-38489598.html
- Your Questions: How can we move house and hold on to our tracker mortgage? – Independent.ie https://m.independent.ie/business/personal-finance/your-questions-how-can-we-move-house-and-hold-on-to-our-tracker-mortgage-38496202.html
- Cuckoo funds buy up more homes and squeeze out first-timers – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/cuckoo-funds-buy-up-more-homes-and-squeeze-out-firsttimers-38493718.html
- Auctioneer report shows how property prices in Limerick are changing https://www.limerickleader.ie/news/home/476701/auctioneer-report-shows-how-property-prices-in-limerick-are-changing.html
- High rents should be factored into mortgage applications – Fianna Fáil https://www.irishtimes.com/news/ireland/irish-news/high-rents-should-be-factored-into-mortgage-applications-fianna-f%C3%A1il-1.4014113?mode=amp
- Have I a case over top-up mortgage that had no tracker option? https://www.irishtimes.com/business/personal-finance/have-i-a-case-over-top-up-mortgage-that-had-no-tracker-option-1.4012485?mode=amp
- Property tax bills unchanged in three Dublin local authority areas next year https://www.irishtimes.com/news/ireland/irish-news/property-tax-bills-unchanged-in-three-dublin-local-authority-areas-next-year-1.4013048?mode=amp
- Local Property Tax #Cork: Cork City Council: potential 5% increase to Local Property Tax floated https://www.echolive.ie/corknews/Cork-City-Council-potential-5-increase-to-Local-Property-Tax-floated-caba2fff-c426-41f8-8f1d-fa15f7fab13f-ds
- Dublin 6 period pile primed for residential development at €2.25m https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/dublin-6-period-pile-primed-for-residential-development-at-2-25m-1.4010119?mode=amp
- Fifty ‘cost rental’ rental homes to be delivered in pilot project – Independent.ie https://amp.independent.ie/irish-news/fifty-cost-rental-rental-homes-to-be-delivered-in-pilot-project-38485877.html
- More on this: Cost rental housing scheme launches in Dublin with rents below market prices https://www.dublinlive.ie/news/dublin-news/first-cost-rental-housing-scheme-16904033
- Help-to-Buy’s future in doubt as more buyers feel the squeeze – Independent.ie https://m.independent.ie/irish-news/politics/helptobuys-future-in-doubt-as-more-buyers-feel-the-squeeze-38487434.html
- Yet… New Dublin homeowners ‘not too worried’ about house price fall https://www.irishtimes.com/business/economy/new-dublin-homeowners-not-too-worried-about-house-price-fall-1.4016542?mode=amp
- Construction industry lobbies for more help for house buyers https://www.irishtimes.com/news/politics/construction-industry-lobbies-for-more-help-for-house-buyers-1.4014076?mode=amp
- Eight-storey apartment blocks planned for Stillorgan bowling alley site https://www.irishtimes.com/business/commercial-property/eight-storey-apartment-blocks-planned-for-stillorgan-bowling-alley-site-1.4016416?mode=amp
- Looming closure of tax loopholes prompts surge in asset transfers https://www.irishtimes.com/business/economy/looming-closure-of-tax-loopholes-prompts-surge-in-asset-transfers-1.4017093?mode=amp
- US property giant bids to sell two-bed flats to council for nearly €600,000 – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/us-property-giant-bids-to-sell-twobed-flats-to-council-for-nearly-600000-38493713.html
- British peer loses tenancy of €20m Castletown Cox estate https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/british-peer-loses-tenancy-of-20m-castletown-cox-estate-1.4013733?mode=amp
- Private developer behind controversial co-living facility in Dún Laoghaire is preferred bidder for Dublin site – Independent.ie https://m.independent.ie/irish-news/news/private-developer-behind-controversial-coliving-facility-in-dn-laoghaire-is-preferred-bidder-for-dublin-site-38480810.html
- More on this… Developer to earn €67m profit from public land site – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/irish-news/developer-to-earn-67m-profit-from-public-land-site-38496638.html
- Final bids expected for glass bottle site in Ringsend https://www.irishtimes.com/business/final-bids-expected-for-glass-bottle-site-in-ringsend-1.4009230?mode=amp
- New retail units to let at Blackrock Village Centre after €10m upgrade https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/new-retail-units-to-let-at-blackrock-village-centre-after-10m-upgrade-1.4010114?mode=amp
- Developer splashes more than €6million on south Dublin site tipped for housing https://www.dublinlive.ie/news/property/developer-splashes-more-6million-south-16901211
- Investment opportunities with mixed-use prospects – Independent.ie https://m.independent.ie/business/commercial-property/investment-opportunities-with-mixeduse-prospects-38490065.html
- Publican Dolan leads bid to buy Coppers – Independent.ie https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/irish/publican-dolan-leads-bid-to-buy-coppers-38497201.html
- ‘Welcome news,’ councillors begin process to re-zone the vacant Braun site in #Carlow Town https://www.carlowlive.ie/news/home/476720/breaking-councillors-begin-process-to-re-zone-the-vacant-braun-site-in-carlow-town.html
- Permanent TSB sells NPL portfolio to Lone Star’s Start https://www.rte.ie/news/business/2019/0912/1075507-permanent-tsb-non-performing-loan-sale/
- Construction on €1bn Irish data centre to start this week – Data Economy https://data-economy.com/construction-on-e1bn-irish-data-centre-to-start-this-week/
- Profit up 42% at Savills holding company https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/retail-and-services/profit-up-42-at-savills-holding-company-1.4017535?mode=amp
- Cairn Homes chief to pocket €525,000 from dividend https://www.irishtimes.com/business/construction/cairn-homes-chief-to-pocket-525-000-from-dividend-1.4015918?mode=amp
- €20 million investment by Longford’s Glennon Brothers into flagship operation https://www.longfordleader.ie/news/home/477522/20-million-investment-by-longford-s-glennon-brothers-into-flagship-operation.html
- Hermes Investment Management opens new office in Dublin, creating 11 new financial services roles https://www.idaireland.com/newsroom/hermes-opens-new-office-in-dublin
- Glennon Brothers to invest €15m in its Scottish mill https://www.irishtimes.com/business/manufacturing/glennon-brothers-to-invest-15m-in-its-scottish-mill-1.4014159?mode=amp
- Belfast Harbour investment drive to create 10,500 jobs and boost economy – BelfastTelegraph.co.uk https://amp-belfasttelegraph-co-uk.cdn.ampproject.org/c/s/amp.belfasttelegraph.co.uk/business/northern-ireland/belfast-harbour-investment-drive-to-create-10500-jobs-and-boost-economy-38492519.html
THE AGILE AGENT 2020
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.
To get involved and for free Proptech 2020 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 *
- QUIET DELIVERIES MAKE FOR MORE LIVABLE CITIES –
#Noise News International http://noisenewsinternational.net/quiet-deliveries-make-for-more-livable-cities/ #SmartCity
- Colliers Proptech Accelerator Powered by Techstars Welcomes Class of 2019 Startups Nasdaq:CIGI https://www.globenewswire.com/news-release/2019/09/09/1912666/0/en/Colliers-Proptech-Accelerator-Powered-by-Techstars-Welcomes-Class-of-2019-Startups.html
- Proptech VC MetaProp unveils startups in its newest accelerator cohort – Business Insider https://www.businessinsider.com/proptech-vc-metaprop-unveils-their-newest-accelerator-cohort-2019-9?r=US&IR=T
- PropTech In The United States – Where We’re Heading – Corporate/Commercial Law – United States http://www.mondaq.com/unitedstates/x/843000/Securities/PropTech+In+The+United+States+Where+Were+Heading
- WeWork looks like a bubble waiting to burst https://www.theguardian.com/business/nils-pratley-on-finance/2019/sep/10/wework-looks-like-a-bubble-waiting-to-burst
- Opinion: The robots are coming – and men should be more worried than women https://www.thejournal.ie/readme/robots-economics-ireland-opinion-4785982-Sep2019/
- Don’t miss the CitA BIM Gathering in Galway on the 26th September – Property District | Irish Property Services https://propertydistrict.ie/dont-miss-the-cita-bim-gathering-in-galway-on-the-26th-september/
- Parity Receives $1.25 Million In Venture Debt from Silicon Valley Bank https://finance.yahoo.com/news/parity-receives-1-25-million-110000426.html
- PropTech Today: Maybe the portals should just take over
https://www.estateagenttoday.co.uk/breaking-news/2019/9/proptech-today-maybe-the-portals-should-just-take-over?source=newsticker
- What Happens When Hype Meets Reality https://fortune.com/2019/09/09/term-sheet-monday-september-9/
- Glasgow proptech signs up for Yorkshire councils’ smart building project – Business Insider https://www.insider.co.uk/news/glasgow-proptech-signs-up-yorkshire-20048679
- Sidewalk Labs | Announcing Replica’s spin-out and Series A https://sidewalklabs.com/blog/announcing-replicas-spin-out-and-series-a/
- An Offr that property buyers and sellers may not want to refuse https://www.irishtimes.com/life-and-style/homes-and-property/an-offr-that-property-buyers-and-sellers-may-not-want-to-refuse-1.4014877?mode=amp
- Startup Life Stories: 10 Startups Share The Greatest Opportunities In PropTech https://www.forbes.com/sites/angelicakrystledonati/2019/09/12/startup-life-stories-10-startups-share-the-greatest-opportunities-in-proptech/#43965bbf5fc9
- Is proptech the next bubble market? | Insight | Property Week https://www.propertyweek.com/insight/is-proptech-the-next-bubble-market/5104243.article
- JLL’s VC arm Spark invests undisclosed sum in co-working platform Qdesq https://wap.business-standard.com/article/companies/jll-s-vc-arm-spark-invests-undisclosed-sum-in-co-working-platform-qdesq-119091100694_1.html
- **Nominations are now open for the global Women in PropTech Awards 2019 (I am on the international judging panel). https://enterwomeninproptechawards2019.splashthat.com/
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/