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Percy Hall development in Dublin

Percy Hall development in Dublin

College Square in Terenure

College Square in Terenure

The new office block development on the corner of Stephen’s Green and Harcourt street

The new office block development on the corner of Stephen’s Green and Harcourt street

Sean Mulryan

Sean Mulryan

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Percy Hall development in Dublin

There isn't a lot of construction going on in Ireland - but much more than this time a year ago.

The biggest - and most obvious - sites are in Dublin city centre and surrounding area.

On St Stephen's Green, Canada House - as number 65 was known - has been knocked down and is being replaced by a top-spec new office block at a cost of about €20m. It is being developed by Island Capital, a company owned by businessman Denis O'Brien.

There have already been a number of expressions of interest for space in the building, which is not due to be ready until December next year.

In Ballsbridge, the Comer Group is constructing a 120,000 sq ft office building on Shelbourne Road. That block is being built on the site of the former UCD veterinary college and was one of the few available sites in Dublin 4 when the Comers bought it 17 months ago for €22m.

Nearby, in Percy Place, UK property firm Development Securities is building a mix of apartments and shops at the corner with Haddington Road. Dev Secs, as the firm is known, has also teamed up with Johnny Ronan, Paddy McKillen and Colony Capital to buy a site on Burlington Road in Dublin 4 for €40.5m.

When it comes to housebuilding, the big beasts are coming back to the market, albeit slowly.

Gerry Gannon's Gannon Homes has sold off the first phase of its Miller's Glen development in Swords in September. Those houses are a mix of two, three and four-beds ranging in price from €240,000 to €400,000. The site has 60 homes built so far, and planning permission for as many as 1,500.

Sean Mulryan's Ballymore focused almost entirely on the London market since the crash, and has built numerous homes in the likes of the Royal Docks and elsewhere around that city.

Now though, Ballymore is back in Ireland and building family homes at College Square in Terenure.

Perhaps inevitably the vast majority of development has been in Dublin so far, where shortages are most acute and prices are highest. Construction elsewhere has yet to start in earnest.

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