The Sunday Business Post is definitely the broadsheet to pick up today if you have an interest in any part of the development process. Also in the SBP today – the 100 Hot Start Up magazine, featuring no fewer than four advanced Irish proptech startups: Block Angel (founded by Andre Farrell), an end-to end software solution for residential landlords; LiveCosts (founded by Ciaran Brennan), a vital, real time, cost management solution for construction companies; Offr (founded by Robert Hoban, Philip Farrell and Niall Dawson) an estate agency software solution; and RooMigo (founded by Ed Burke) a community connector app for finding housemates. Well done to all, this is particularly heartening as your Sunday Property Round-Up today is coming from Latvia. PropTech Ireland delivered a keynote address for Proptech Riga 2019 this week! I will write up and circulate all the shared learnings shortly.
For any Ireland-based women in propetech (not necessarily founders), you have until the 4th October to get your application submitted for the global Women in Proptech Awards. I am an international judge and would love to see Ireland well represented in the submissions: https://enterwomeninproptechawards2019
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:
- Excellent read: Pursuing paradise: the life and times of Johnny Ronan – “He reshaped the Dublin skyline, became a billionaire and then saw Nama seize his empire. Now, Johnny Ronan is back on top. In his first major interview in decades, the developer talks family, fortune, feuds and reveals his vision of Ireland.” https://www.thecurrency.news/articles/915/pursuing-paradise-the-life-and-times-of-johnny-ronan
- Receivership costs for Treasury Holdings subsidiary reach €16.6m https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/receivership-costs-for-treasury-holdings-subsidiary-reach-16-6m-1.4027941?mode=amp
- RISE & SHINE: THE FUTURE OF DUBLIN’S WORKSPACE INDUSTRY https://propertydistrict.ie/rise-shine-the-future-of-dublins-workspace-industry/ @BisnowEurope @Bisnow
- How WeWork went from a $47 billion valuation to talk of bankruptcy in just 6 weeks – Business Insider https://www.businessinsider.com/weworks-nightmare-ipo
- The Irish Times view on housing: beyond reach https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-housing-beyond-reach-1.4027802?mode=amp
- Who is accountable when big-tech housing goes wrong? https://www.irishtimes.com/opinion/who-is-accountable-when-big-tech-housing-goes-wrong-1.4026716?mode=amp
- Flying taxis could soon be a reality as rooftops are leased to be landing pads https://www.thesun.ie/tech/4601924/flying-taxis-could-soon-be-a-reality-as-rooftops-in-london-are-leased-to-be-landing-pads/
If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/
As always, you might let me know if I have missed out on any relevant property news by emailing firstname.lastname@example.org.
(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)
Property Matters: Ireland’s First Weekly Property Radio Show (& Podcast!):
Ireland’s first weekly property radio show, Property Matters, launched In January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com). Seasoned political broadcaster, Bryan Fox, and I (Carol Tallon) team up to deliver 60 minutes of industry chat with guests from the areas of planning, construction, property and proptech. Produced by Katie Tallon of Hear Me Roar Media.
L-R: Ronan Furlong Executive Director of DCU Alpha Innovation Campus, Gavin Gallagher of PropTech TV, Carol Tallon of Property District and
Michael Kinsella of Kinsella Estates, Carnew & Gorey
In the Property Matters studio this week:
- Gavin Gallagher of PropTech TV to discuss the WeWork IPO (aired just an hour before the founder stepped down!)
- Ronan Furlong Executive Director of DCU Alpha Innovation Campus to discuss micro-mobility solutions for Irish cities and the legislative situation for e-scooter use
- Michael Kinsella of Kinsella Estates Carnew & Gorey joined us to discuss the marketplace in South Wicklow and North Wexford
Listen back here: https://anchor.fm/ipropertyradio/episodes/Property-Matters–September-24th-2019-e5kq4u
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
Email the Property Matters team at hello@iPropertyRadio.com
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Kerry firm building homes for employees https://amp-irishexaminer-com.cdn.ampproject.org/c/s/amp.irishexaminer.com/breakingnews/ireland/kerry-firm-building-homes-for-employees-953318.html
- Co-living scheme with bedroom of just 6.3sqm is rejected as ‘unacceptable’ – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/coliving-scheme-with-bedroom-of-just-6-3sqm-is-rejected-as-unacceptable-38528087.html
- Should Bicycle Parking Cost More Than Car Parking? Should It Cost Anything? https://www.dublininquirer.com/2019/09/25/should-bicycle-parking-cost-more-than-car-parking-should-it-cost-anything
- Residents angry over access road plans to housing estate http://www.echo.ie/tallaght/article/residents-angry-over-access-road-plans-to-housing-estate
- Councillors vote down social housing blueprint https://connachttribune.ie/councillors-vote-down-social-housing-blueprint-099/
- Council under pressure to open Naas’ Oldtown Gardens as public amenity https://www.leinsterleader.ie/news/home/481185/council-under-pressure-to-open-naas-oldtown-gardens-as-public-amenity.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*
OTHER PROPERTY NEWS
- The lead story in The Sunday Business Post by Killian Woods reads: ‘Fast track scheme set for overhaul as developers stall on thousands of homes: New report claims government embraced building lobby group’s suggestions lock, stock and barrel’. This is really two distinct stories, firstly, permission for more than 15,000 homes has been approved under SHD but no construction has started on 10,000 of those proposed new homes (or 47 of the 64 schemes approved). The SHD is due to end this year so this report is likely to raise serious and important questions about the process. All the development details are mapped on on page 12 so I recommend getting hold of that (in print and digital) and reading through the findings. Secondly, this questions how much developers are “driving housing policy” and what the appropriate level of influence ought to be. To be clear, the industry needs to feed into policy-making, it’s the essential interpretation of housing data vs. what is happening on the ground. Both are required but, obviously, there needs to be balance.
- Also in the SBP: McFeely’s assets to be sold as Priory Hall rebuild costs hit e52 million; the property section takes another look at building heights and “examine whether skyscraper development will really help meet the capital’s critical housing needs”; local trainee estate agent Mark Duffy explains “Why rent pressure zones in Waterford could make matters worse”; Raymond Tutty talks about how “Cultural spaces can be saved without losing hotels too”; and Landmark Horgan Quay project secures Space (flexible office space provider) as first tenant.
- In the Sunday Independent today Maeve Sheehan reports that a housing association lead by Sean O’Fearghall (FF TD and Ceann Comhairle) has admitted “errors of corporate governance”. There is an in-depth piece about this on page 10 that makes for concerning reading and raises exceptionally serious and damaging questions.
- Also in the Independent: Alan O’Keeffe writes that ‘Home build targets won’t be met’; also, Lauren Coleman-Lochner reports that ‘Troubled Forever 21hits rails in talks with landlords (Simon Property Group and Brookfield Property Partners)’, which is an increasing common retail trend in recent years.
- In The Sunday Times today, Colin Coyle reports that ’Solar farm will be albatross round neck of lahinch club’. The club objected to planning for 22,000 solar panels nearby on the basis that it would turn golfers off their game. Clare County Council agreed, the matter has now been appealed to ABP, with a decision due on January 2020.
- The same journalist reports that Bartra has lodged further plans for a 182-unit co-living development on the site of the former Brady’s pub in Castleknock’.
- Also in The Sunday Times today: Tristan Capital Partners is seeking permission for a further 200 homes on its 7.2 acre site at Aikens Village in Sandyford; and property editor Linda Daly opines that “As rents in Dublin move out of reach of the average one-wage household, landlords need to put the brakes on increasing prices”.
- Eoghan Murphy criticised as rents surge by 7 per cent in one year https://www.irishtimes.com/news/ireland/irish-news/eoghan-murphy-criticised-as-rents-surge-by-7-per-cent-in-one-year-1.4032541?mode=amp
- Help-to-Buy scheme ‘is not benefiting those who need help to get on ladder’ – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/helptobuy-scheme-is-not-benefiting-those-who-need-help-to-get-on-ladder-38539232.html
- Calling All House-Hunters! You Don’t Want To Miss This Useful First-Time Buyers Brunch https://lovindublin.com/aib-livin-dublin/calling-all-house-hunters-you-dont-want-to-miss-this-useful-first-time-buyers-brunch
- Woman who felt sexually harassed by estate agent feared homelessness https://www.irishtimes.com/news/social-affairs/woman-who-felt-sexually-harassed-by-estate-agent-feared-homelessness-1.4028101?mode=amp
- Minister responds to rental sector exploitation reports https://www.rte.ie/news/politics/2019/0924/1077949-housing-exploitation-dail/
- ‘It’s been incredibly distressing’ – clients report businessman over allegedly falsely claiming to be architect – Independent.ie https://m.independent.ie/breaking-news/irish-news/its-been-incredibly-distressing-clients-report-businessman-over-allegedly-falsely-claiming-to-be-architect-38524325.html
- Major rise in number of residential properties sold in commuter counties, study shows https://www.breakingnews.ie/ireland/major-rise-in-number-of-residential-properties-sold-in-commuter-counties-study-shows-952513.html
- Two groups short-listed to buy distressed mortgages from AIB – Independent.ie https://m.independent.ie/business/personal-finance/property-mortgages/two-groups-shortlisted-to-buy-distressed-mortgages-from-aib-38539042.html
- Councillors vote to limit number of hotels in Dublin https://www.irishtimes.com/culture/councillors-vote-to-limit-number-of-hotels-in-dublin-1.4028123?mode=amp
- Blocking new hotels in Dublin is economic vandalism https://www.irishtimes.com/business/transport-and-tourism/blocking-new-hotels-in-dublin-is-economic-vandalism-1.4031509?mode=amp
- DCU planning a massive housing project with 1,240 student beds – Independent.ie https://m.independent.ie/irish-news/education/dcu-planning-a-massive-housing-project-with-1240-student-beds-38528035.html
- Hospital backs plan for Old Navan Road accommodation scheme https://www.irishtimes.com/business/commercial-property/hospital-backs-plan-for-old-navan-road-accommodation-scheme-1.4033005?mode=amp
- Project Etopia modular homes are right fit for Reuben brothers https://www.thetimes.co.uk/article/project-etopia-modular-homes-are-right-fit-for-reuben-brothers-st7nlt8ls
- K Club’s preferred bidder, RTÉ’s finances and Revenue’s tax reassessments https://www.irishtimes.com/business/k-club-s-preferred-bidder-rt%C3%A9-s-finances-and-revenue-s-tax-reassessments-1.4028091?mode=amp
- Irish five-star hotel market is game for rich people https://www.irishtimes.com/business/transport-and-tourism/irish-five-star-hotel-market-is-game-for-rich-people-1.4028076?mode=amp
- Paul leads mac-group from niche interior fit-out firm to multinational construction partner https://www.irishnews.com/business/2019/09/24/news/paul-leads-mac-group-from-niche-interior-fit-out-firm-to-multinational-construction-partner-1717963/
- Sherry FitzGerald appoints Marian Finnegan as head of residential https://www.irishtimes.com/life-and-style/homes-and-property/sherry-fitzgerald-appoints-marian-finnegan-as-head-of-residential-1.4029032?mode=amp
THE AGILE AGENT
GETTING IRELAND’S PROPERTY MARKETPLACE DIGITAL BY DEFAULT
The Agile Agent is a 12-month digital transformation programme for independent Irish estate agents and auctioneers, which runs from September – August. This programme will be delivered by a multi-disciplinary Irish and UK team and will go beyond proptech adoption to help agents get their industry digital by default.
To get involved and for free Proptech Prompts, please
PROPTECH AND CONSTRUCTION INNOVATION
- From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based #proptech business sit? Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *PROPTECH INNOVATORS and STARTUPS *
- **Nominations are now open for the global Women in PropTech Awards 2019 (I am on the international judging panel). https://enterwomeninproptechawards2019
- Rebranding our co-living startup (part II) https://medium.com/@lucabovone/rebranding-our-co-living-startup-part-ii-d7cd5b9d7e9
- Proptech Platform Ideal Flatmate Seeks £1.3 Million Through Seedrs Campaign | Crowdfund Insider https://www.crowdfundinsider.com/2019/09/151908-proptech-platform-ideal-flatmate-seeks-1-3-million-through-seedrs-campaign/
- Stay relevant with these 5 real estate tech trends https://www.inman.com/2019/09/23/stay-relevant-with-these-5-real-estate-tech-trends/#
- NoBroker May Raise $130 Mn Funding From Tiger Global, General Atlantic https://inc42.com/buzz/nobroker-might-raise-130-mn-funding-round-from-tiger-global-general-atlantic/
- PlaceTech | Equiem’s UK expansion reaches 10m sq ft https://placetech-net.cdn.ampproject.org/c/s/placetech.net/news/equiems-uk-expansion-reaches-10m-sq-ft/amp/
- Clients Should Be at the Heart of PropTech, Not Investors | Propmodo https://www.propmodo.com/clients-should-be-at-the-heart-of-proptech-not-investors/
- Agency sets up its own PropTech consultancy service… https://www.estateagenttoday.co.uk/breaking-news/2019/9/agency-sets-up-its-own-proptech-consultancy-service
- Enterprise Ireland issues €12m in funding for AI innovation hub https://www.siliconrepublic.com/machines/ceadar-funding-ai-research-enterprise-ireland
- Construction Tech Unicorn Procore Reportedly Eyeing An IPO https://news.crunchbase.com/news/construction-software-unicorn-procore-reportedly-eyeing-an-ipo/
- PropTech Today: New technology can make agents more valuable than ever
- Tips for Investing Venture Capital in CRE Startups https://www.cpexecutive.com/post/tips-for-investing-venture-capital-in-cre-startups/
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/