Supply of new homes 'curtailed by Central Bank limits on mortgages'
THE Central Bank's limits on home loans are inhibiting the delivery of new homes, Michael O'Flynn, CEO of developers O'Flynn Group told the annual conference of the Institute of...
THE Central Bank's limits on home loans are inhibiting the delivery of new homes, Michael O'Flynn, CEO of developers O'Flynn Group told the annual conference of the Institute of...
ABOUT 270 lots are scheduled for inclusion in BidX1's online auctions on July 10 and 11.
Ten provincial pubs, some with development potential, have been brought to the market by franchisees of the Sherry FitzGerald agency with guide prices ranging from €295,000 to €950,000.
Institutional capital now accounts for 51pc of all institutional and private investment in property in Ireland, Pat Farrell, CEO of Irish Institutional Property (IIP), said at the launch of the new...
A derelict site with planning permission for residential investment units near Merrion Square, Dublin 2, is for sale and Turley Property Advisors is quoting a €950,000 guide price.
Cork city's prime office rents are forecast to increase by €5 per sq m to €355 per sq m in the nine months to the end of the year. Meanwhile prime office yields will harden from 5.5pc to 5.25pc over the same period.
A portfolio of 44 apartments at Bru Na Sionna, Shannon, Co Clare, will go for online auction in one lot on its own with BidX1 on June 19 next with a €2.65m guide price.
To simplify the case for a Green Mortgage discount for would-be purchasers, David McDonnell, the incoming president of the Institute of Professional Auctioneers & Valuers (IPAV), is calling for the Property Services Regulatory Authority to record BER ratings in addition to its sale prices on residential properties.
A TALE of three Leinster pubs. One of them sold for well over €1m and two have just been offered to the market with guide prices of €600,000 each. As well as being in busy Leinster towns, their sale is also being handled by agent John P Younge, who specialises in this sector of the market.
J&M Cleary, a historic Dublin pub closely associated with Michael Collins, the War of Independence and scenes in a number of films and TV programmes, is for sale with a €2.75m guide price.
AN Applegreen Service Station investment in Co Kildare is among the investment properties recently brought to the market through agent Coldwell Banker.
Office accommodation in Heritage House, 23 St Stephens Green, Dublin 2, between the Shelbourne Hotel and Dawson St, is available to let.
Two floating office floors over a redeveloped former warehouse building bring an unusual integration of old and new to Dublin's south docklands. The full-glazed floors are an...
Three interconnecting Georgian buildings with a €5.25m guide price have been brought to the market at 41 to 43 North Great George's Street, Dublin 1. The street is best known for its...
A COUNTY DUBLIN site extending to 1.27 acres, with full planning permission for a 58-bedroom 'aparthotel' and nine retail units, has been brought to the market.
Two properties with price tags of €1.1m each are among the 13 lots which will go for sale in Real Estate Alliance's online auction on Wednesday next week.
Industrial news from specialist agent Harvey includes two recent development deals as well as a new premises for letting.
Four Dublin city centre properties which were part of a complex developed by M & J Wallace Ltd, the former family company of colourful MEP and Wexford Dáil deputy Mick Wallace, are to go for sale with a €1.28m guide price.
When Ms Aoife Sutton came to us early in the year and said she was bringing another group to Gorodishche I think most of us knew straight away that we'd love to go. The lads from last year came to talk to us and told us what a fantastic experience it was.
A private Irish investor has purchased Orwell Shopping Centre in Templeogue, Dublin 6W, for about €7.8m, which was in excess of the €7.5m that was guided by agents CBRE.
BIDDERS paid more than €21.4m for 133 lots - more than two-thirds of the 198 lots offered at BidX1's recent Irish online auction.
A recent urban renewal trend which had been under way without any financial support from the Government may be about to be quashed by new regulations introduced by Housing Minister Eoghan Murphy last Tuesday.
The Ashleaf Shopping Centre in Crumlin in south west Dublin has come to the market with a €10.75m guide price. The sale includes retail, office units and a pub but does not include the anchor store, which is owned and operated by Dunnes Stores.
A FOUR-ACRE development site on the main street in Newtownmountkennedy, Co Wicklow, is being offered for private treaty sale with a €1.5m guide price.
A choice of three development sites with commercial, residential and nursing home potential have been brought to the market this week by Savills. The commercial plot is in Citywest Business Campus, Dublin. The residential site is in the seaside village of Rush, north Dublin and nursing home site is in Kilkenny.
Knight Frank is bringing a choice of two Dublin city centre properties to the market in separate lots whose guide prices range from €1.5m.
A development property with apartments in Tanner Hall, Athy Road, Carlow, sold for its €1.5m reserve immediately after the recent Real Estate Alliance's Dempsey Sothern Leinster auction in Naas, Co Kildare. As many as 21 lots sold on the day, with a further seven going sale agreed before this report went to press.
A group of four Dublin city centre commercial properties have recently been sold reflecting the increased interest in the commercial property hinterland around O'Connell Street. Located at 63 - 66 Gardiner Street Lower Dublin 1, they comprise four adjoining terraced Georgian properties for which CBRE had been inviting offers of €4.5m.
Two Dublin industrial properties with development potential are being launched on the market this week with prices ranging from €630,000 to €7.5m.
The commercial market is seeing some price resistance by those private Irish investors who are interested in purchasing properties which are brought to market in a price range of between €1m and €20m.
Park Developments, which has just announced a sponsorship of Irish women's hockey, has secured a pre-letting of the first new logistics unit it has developed since the property downturn.
Two residential development sites in the coastal area of Lusk, north County Dublin, are for sale for a total of €3.8m.
A ready-to-go development site of 22.7 acres in Co Kildare with full planning permission for 187 houses is for sale with a €6.5 million guide price.
Two residential development sites in Navan, Co Meath, and Bray, Co Wicklow, have come to the market through Lisney. The 15.79-acre Navan site is located on the Trim Road and has a €5.25m guide price, representing around €330,000 per acre.
Fast-track planning applications have been submitted for more than 4,000 new homes in Co Kildare since the Strategic Housing Development (SHD) fast-track planning system was introduced in 2017 and apartments accounted for at least 1,231 units, or 30pc of the total.
Irish Property fund Iput plc is seeking tenants for Unit 1 Dublin Airport Logistics Park in north County Dublin. Its agent Harvey, the industrial property specialist, is quoting annual rent of €1,665,000 for the high bay warehouse and office facility extending to 184,886 sq ft. This equates to €9 per sq ft.
Dublin City Council is selling a development site in Ballymun town centre with potential for high density build-to-rent apartments along with other uses.
Two pubs and an investment property in the greater Dublin area have been brought to the market through Morrissey's Lisney. The agent has set June 14 as the deadline for final offers on both lots which will be sold separately.
The outlook for both rents and capital values in Dublin's commercial property market continues to be positive, according to a survey published by the Royal Institute of Chartered Surveyors (RICS).
A site on Dublin City's south quays with planning permission for 27 apartments and commercial space is for sale with a €2.75m-plus guide price.
The hospitality attractions of Temple Bar, Dublin's main tourist district, are in the course of moving up in the world both in terms of quality and height.
A Dublin northside property, used by the Billie Barry Stage School, and the leasehold interest in the adjoining Fairview Pitch and Putt grounds, are for sale with a combined €3.5m guide price.
Chrissy D's pub in Bray town, Co Wicklow, is to go for auction on May 30 next with a guide price of between €1.4m and €1.6m.
Two Waterford city centre investment properties have come to the market, which could suit small- and medium-sized investors.
Bartra, the property and infrastructural development company established by Richard Barrett, is considering its options for the development of the Bradys Castleknock Inn site on the Old Navan Road, Dublin 15.
Savills has recently brought two residential development sites to the market in Tullamore, Co Offaly, and near Ballybofey, Co Donegal.
DEVELOPER Noel Smyth has brought a residential development site overlooking Dún Laoghaire Harbour to the market with a €6.5m-plus guide price. Located on Crofton Road, the 0.79 acre site has the potential for between 74 and 102 apartments depending on whether the purchaser were to develop build-to-rent or build-to-sell models.
Yields for Irish shopping centres and secondary retail warehouses have softened further over recent months, mirroring a trend that is being experienced in the UK and across Europe at present. These are among the findings in the latest CBRE bi-monthly report on Ireland's commercial property market.
As much as 538,900 sq ft of offices are currently being built in the Sandyford Business District in south Dublin as the office vacancy rate in the area has fallen to only 3.1pc. Not alone is there demand among office occupiers for space in the area but there is also demand among investors.
The Real Estate Alliance (REA) network of estate agents will host three auctions this month with more than 90 lots. The most valuable lots will be offered at the REA Dempsey Sothern public auction of Dublin and Leinster properties in Naas on May 22.
Goldwing Real Estate Developments, a joint venture between developer Paddy McKillen Jnr's Oakmount and Derek McGrath's Core Capital, has paid more than €10 million to Arthur Molloy and Mick Sherry to acquire 73 North Wall Quay, Dublin. The deal was brokered by Conor Whelan of QRE Real Estate Advisors.
Two Dublin northside pubs once owned by former bankrupt billionaire Sean Quinn have been brought to the market by the liquidators of IBRC, the former Anglo Irish Bank, which is hoping to retrieve about €2 million from the sales.
A HOUSE on a landmark corner gateway site on the Stillorgan dual carriageway is for sale with a €2.5m asking price. Known as Mount Salem and located at the White’s Cross junction of the N11 and the Leopardstown Road in Dublin 18, the house sits on a 0.7 acre site. Agent Robert Colleran says it may have potential to accommodate a small residential development of five or six houses, subject to planning permission.
A hotel development opportunity in Dublin city centre is being offered for sale with a €4.5m guide price. Known as Shamrock Chambers and the location for Mr Simms Olde Sweet Shoppe, the property currently comprises a five-storey-over-basement building of 1,746 sq m and stands on a site area of about 0.1 acres at the junction of Dame Street and Eustace Street.
A mixed investment property known as Primrose Forge in the commuter town of Celbridge, Co Kildare, has been brought to the market with a €2.85m+ price tag.
More than 270 lots with a combined value of about €42m will be auctioned by BidX1 at its online auctions on May 22 and 23 next.
A mixed use investment property at 174 Phibsboro Road, Dublin 7, has gone sale agreed for around €1.5m, suggesting a gross yield of about 6.5pc. It comprises six residential units including four duplex units each of which have two bedrooms, as well as a one-bed and a two-bed apartment.
Tonight could see some of the 5,000 residents in Sandyford Business District join local employers along with some of their Dublin south county neighbours to demand access to a new green space from which they might otherwise be excluded.
As Dublin's pub trade has attracted increased investment and new entrants in recent years it will be interesting to see how the market responds to the offers of pubs that have just come to the market in Dalkey, Ballyconnell and Tullamore.
Irish commercial property investors may have enjoyed a total return of 7.8pc in the year to the end of the first quarter of 2019 according to the most recent MSCI Irish Index.
The site of a former Good Shepherd Magdalene laundry in Cork city is for sale with an asking price of more than €6.75m. Located in an upmarket area known as Sunday's Well and within walking distance of University College Cork, the 7.8-acre property has full planning permission for 182 apartments, 20 townhouses and a crèche facility.
Fitness and gym operators, part of a sector which previously opted for secondary or industrial space, are now competing with retailers.
Some investors and developers are becoming increasingly ambitious in their efforts to build more sustainable energy efficient buildings in order to reduce carbon emissions. Coming well in advance of the recent Extinction Rebellion demonstrations in major cities, the energy efficiency strategies were also discussed at the Irish Green Building Council's annual commercial buildings conference known as The Green Room Conference on April 10.
Iput's success in securing the green light for its new development at The Park Retail Park at Carrickmines appears to have raised little controversy in the local elections even though it will likely contribute to a glut of retail space in the Dun Laoghaire Rathdown (DLR) County Council area.
International property fund Hines has received the green light from An Bord Pleanála for the addition of an extension of about 60,000 sq ft to Two Grand Parade, the former headquarters of Irish Nationwide Building Society overlooking the Charlemont Luas Stop and the Grand Canal in Dublin.
An industrial investment opportunity in Tallaght which is also considered to have long-term residential development potential has been brought to the market with a €1.75m guide price.
An investment and redevelopment property known as George Cooke Industrial Estate in Bluebell, Dublin 12, has come to the market with a €2.75m guide price.
A detached industrial unit on a 0.8 acre site with residential development potential in Walkinstown, south west Dublin, is for sale with an €860,000 asking price.
The directors of Power Scaffolding Supplies Limited plan to develop 345 apartments, a crèche and a media and business centre on a site on the corner of Airton Road and Belgard Road, in Tallaght, Dublin 24.
A modern warehouse in Donabate in North County Dublin was among the six lots which sold at a recent REA Dempsey Sothern auction in Naas, Co Kildare.
Dublin's Creative Quarter, once dominated by back street shops and warehouses, is now seeing new life being breathed into old buildings as well as new hotel developments.
O'Callaghan Properties has placed the Half Moon Street development in Cork City Centre on the market with a guide price of €34m - reflecting an initial yield of 7.07pc. Savills and CBRE are handling the sale.
An industrial unit with office facilities in Finglas, Dublin 11, is available for rent at less than €9 per sq ft.
Falcon Real Estate Development Ireland, the company backing the North Quays and Michael Street development projects in Waterford, has appointed key advisors. Global real estate firm Cushman & Wakefield will be the leasing agency for the entire North Quays project including its retail, office, residential and hospitality components. A campaign targeting potential retailers is under way.
Dublin's industrial and logistics property market started the year with a strong first quarter, according to research by property consultants CBRE, with 95,623 sq m of space taken by occupiers. That's a 1pc increase on the previous quarter, which itself was considered strong.
Property developer Marlet plans to more than double the number of apartments on its sites on the Upper Kilmacud Road in Dundrum, Dublin 14, following the addition of two adjoining properties on the road.
The McGrath Group, the family-owned Irish property firm, plans to build more than 150 apartments in three projects in the Dun Laoghaire area, and is due to start work on one of these projects in the near future.
A property with apartment development potential has been brought to the market in Harold's Cross, Dublin 6W and Savills is guiding €3m for it.
Dublin's co-working office market has been ranked fourth hottest among European cities in a league compiled by agents Cushman & Wakefield.
AS much as €2.5bn of property investment deals could be seen this year, according to property consultants JLL - although the figure could be as low as €2bn.
THE Construction Industry Federation will host CIF Digicon 2019 on June 13 in Croke Park.
AN opportunity for a large food and beverage operator to lease an 18,000 sq ft plus premises next to the Stag's Head pub in the lively Dame Court area in Dublin's Creative Quarter has come on market.
Among the Dublin industrial properties recently launched on the market are a development site in Dublin 15 for sale with a €2.5m price tag and an existing industrial warehouse facility in Rialto which is available to rent for €160,000 a year.
Strong demand for space and a shortage of supply is pushing up rents in Cork's industrial market. According to Cushman & Wakefield, rents grew by 13.3pc during 2018, to €85 per sq m and Peter O'Flynn, its managing director in Cork, is forecasting further inflation of 5.9pc this year, lifting prime rents to €90 per sq m.
Two tranches of residential properties were sold for more than €1m each through the recent BidX1 online auction.
The Sands Hotel in the popular seaside town of Tramore, Co Waterford, is expected to re-open following its sale for more than €600,000 through local agent Sherry FitzGerald John Rohan.
Stationery and book seller Eason has launched sale and leaseback deals for three stores which it owns in Limerick City, Tralee, Co Kerry and Clonmel, Co Tipperary.
Dublin's office market set another new record in the first quarter of this year with occupiers taking 1.4m sq ft (130,000 sq m) which was almost double (85pc) ahead of the corresponding period of 2018. Knight Frank points out that the first quarter of last year had itself set a new record for Q1 activity.
The Red Line Luas looks like it is unleashing the development potential of industrial properties and their conversion to high density apartment complexes in Tallaght - and developers are not waiting for the local county council to update its area plan for the lands around Tallaght town centre.
Motorists and busy commuters will be offered a choice of no less than four different drive-thru restaurants at the Liffey Valley complex in west Dublin from this summer.
As many as 16 land sales have taken place in Ireland during the first three months of this year valued at a combined €155m, according to research by property consultants CBRE Ireland.
A residential development site of about 0.2 acres with the benefit of full planning permission for five large 2,000 sq.ft. houses is for sale at Ballawley Lodge,
More than €600,000 was generated from the sale of six residential properties at DNG's recent Leinster auction. The top price of €220,00 was achieved for a three bedroom detached bungalow, requiring renovation on a 0.1 acre site known as The Arch, Edmondstown Road, Rathfarnham, Dublin 16. The price was 10pc over its €200,000 reserve.
A commercial property investment which might appeal to small and medium-sized investors is for sale in West Dublin Business Park, Oak Close, Clondalkin, Dublin 22, with a €520,000 asking price.
Real Estate Alliance will host two public auctions in April with as many as 37 lots.
CBRE have promoted Kyle Rothwell from executive director at its investment division to head of investment properties in its Dublin office.
Launches of development land sites dominated the columns of the commercial property media in the first three months, however news of any actual sales was thin on the ground.
A self-contained unit in Block 8 at the Harcourt Centre, Dublin 2, is available to rent for €288,750 a year or €55.00 per sq ft for the 5,250 sq ft (488 sq m) space.
An investment portfolio of 122 apartments in two separate complexes in Tallaght, Dublin 24, is being offered for sale as the Acorn Collection.
Commercial, development and residential properties from Munster, Connacht and Longford will be among the 36 lots which auctioneers O'Donnellan & Joyce will offer for public auction in Galway on April 18 next.
Student accommodation projects are accounting for an increasing share of residential development activity as reflected in research conducted in conjunction with Construction Information Services (CIS). It shows that 6,060 bed-spaces were built in 22 student projects in Dublin, Cork and Galway between June 2016 and February 2019.
Four bumper auctions will offer buyers a choice of 192 property lots within the next three weeks.
The office markets in Dublin's north and south suburbs are attracting increased attention from investors and occupiers and this is reflected in the Dublin Office Investment Market Analysis 2019, published by BNP Paribas Real Estate Ireland (BNPPRE).
Mortgage owners PTSB and Promontoria sold 62 individual, tenanted properties at BidX1 auctions in the last eight days, some at discounts to market prices.
Five public property auctions are scheduled to take place in the next three weeks across the country in Dublin, Naas, Cork, Galway and Limerick.
The industrial property market got the year off to a strong start in 2019, although some secondary properties are reported to be priced below development costs.
Prime Dublin high street retail market rents fell in the last quarter of 2018 according to the latest MSCI Property Index, the authoritative monitor of the Irish property and investment markets undertaken in conjunction with the Society of Chartered Surveyors Ireland (SCSI).
The combination of increased jobs and more affordable prices is expected to boost demand for housing, from investors, owner occupiers and tenants in Dublin's north docklands in 2019, according to local estate agent Owen Reilly. He is forecasting that residential prices across the whole of the docklands will rise by between 3pc and 4pc in 2019.
Breathing new life into unused old buildings is the aim of Danoj Developments headed by Irish entrepreneur Daniel MacAuliffe, a scion of the Guiney family of Clerys department store fame.
Dublin's North Docklands area is showing increasing appeal to investors and developers thanks in part to competitive office rents and in part to the strong demand for both short and long-term residential accommodation.
Cork City is currently seeing increased development of offices, hotels and student accommodation. However the city has had little, if any, new apartment developments despite increased employment, and rising residential rents in contrast to the upsurge in build-to-rent developments in Dublin.
Three estate agents with plans for public auctions in December have published catalogues with properties carrying a combined value of over €19m. The biggest of them is IAM Sold's Leinster catalogue with more than €10m worth of properties, followed by Sherry FitzGerald/Cushman & Wakefield's joint €7.8m catalogue and REA O'Connor Murphy's €1.35m catalogue.
A portfolio of Waterford properties, five of them in the city centre, will go for public auction as six separate lots on November 29. Auctioneer Sherry FitzGerald John Rohan estimates that their combined guide prices total €2.3m. They are being sold by the executor of the estate of the late John McGrath, who had been engaged in business in the UK.
Over 970 people, including property professionals and rugby internationals, attended the KPMG Irish Independent Property Industry Excellence Awards in Dublin on Thursday night when long-established building contractor SISK was named Overall Winner 2018.
The rising tide of the property market has lifted the boats of the south Dublin city Georgian sector. Recent activity has seen not only individual Georgian properties but also Georgian portfolios selling for above their asking prices.