This week, I am challenging industry readers to open their minds and take a few minutes (perhaps over coffee..) and read this opinion from the TED site:
Why the actions of cities — not nations — will be the key to our survival on earth: https://ideas-ted-com.cdn.ampproject.org/c/s/ideas.ted.com/opinion-why-the-actions-of-cities-not-nations-will-be-the-key-to-our-survival-on-earth/amp/
Also, I joined Andrea Gilligan on Newstalk FM early this morning with Derek Byrne of Victoria Homes, Simon Brooke of Cluid and economist John Fitzgerald to discuss alternative solutions to Ireland’s housing crisis. You can listen back here:
Below is a weekly catch-up on the property stories that caught my attention. As always, please do let me know if I have missed out on any interesting property news by emailing carol@caroltallon.com.
Alternative Housing Models
Looking towards alternative builds, Niall Toner writes about an interesting project using concrete pipes that we featured a few weeks ago over on our RIPPLE community page (thanks to Cormac McKay, 10 January 2017!), for full details CLICK HERE.
Other property news
- Minister pledges stability in property tax from 2019: https://www-rte-ie.cdn.ampproject.org/c/s/www.rte.ie/amp/933646/
- Regular readers here will be familiar with the Center Parcs project in Longford, I have written about it previously as I believe it is an excellent example of local industry and local planners coming together to innovate in a rural area. If you agree and wish to read more, I can recommend for your Sunday read to check out Gavin Daly’s interview with Martin Dalby in The Sunday Times today.
- Valerie Flynn, writing in The Sunday Times today has a brief but highly significant article revealing how the German ambassador to Ireland believed that housing was an issue that went against Ireland in its bid to secure the European Medicines Agency (EMA). If successful, locating the agency in Ireland would have meant approximately 900 new jobs for Ireland. This is the kind of warning story that we’ve been hearing about as a consequence to the current housing crisis and highlights the importance of speeding up delivery of new homes.
- Natrium (D2 Private and Cheyne Capital Management), the investment group behind the controversial Clerys purchase and closure in 2015 is back in the news today with Gavin Daly writing in the Business & Money section of The Sunday Times that the company is set the double its money on the sale (€29m purchase, €60m expected on sale).
- Gavin Daly also writes that Ballymore has paid more than €15 million for two key sites on Seamount Road in Malahide. This will be of particular interest to house hunters locally who are finding supply in that area limited, however, these are likely to be priced at the higher end of the scale.
- Brian Carey reports that Glenveagh Properties has agreed to purchase Hollystown golf club in west Dublin, with adjacent lands (20 acres zoned residential), for €15 million.
- He also has an interesting piece about how a property company backed by one of Lord Alan Sugar‘s advisors has “moved to take control of a 20-acre site in Clondalkin that was once owned by developer Liam Carol and zoned for the development of a new town centre“. Watch this space…
- Nick Webb reveals that developer Gerry Conlon (formerly Millennium Park, now Bridlewood) has purchased a building on Dame Street for €1.65 million and apparently plans to turn part of the premises into an “upmarket boozer“.
- Michael Brennan, writing in The Sunday Business Post today tells us how the development of 960 affordable homes at Ballycullen-Oldcourt in south Dublin has been delayed because of two local objectors. The stated basis of the objection is due to limitations of the existing local road network, which the objectors maintain will cause severe suggestion congestion locally. It will be interesting to see when proposed cycle lanes, footpaths and bus stop bays are designated whether the objectors will be satisfied. Of course, it’s much too early to call NIMBY-ism…
- In the Property Plus section of The Sunday Business Post today, property editor Tina-Marie O’Neill has a great overview of the commercial market: ‘ market settles into anxious norm: Forecasters see little change in 2018, with the supply/demand imbalance continuing to affect both residential and commercial sectors while pressure intensifies on the commuter counties’.
Also, thank you Neil O’Toole, owner of Eduction Global (@NeilOToole3) for this contribution:
Equities.com this week reported on a new 52-week low for Kennedy-Wilson Holdings Inc. shares, as they touched $17.05 Wednesday on the New York Stock Exchange.
This is what some analysts call an ‘inflection point’, where either bullish investors can buy into a dip, or bearish investors may take this as a sell signal.
SOURCES-
Industry happenings
- The collapse of Carillion, the UK-based construction firm with 43,000 employees globally, last Monday, leaving anywhere from £2 billion to £8 billion in debts and pension deficits (depending upon which news resource you read) was the main industry story of the week. It now appears that the investigation of the directors is to be fast-tracked: https://www-bbc-co-uk.cdn.ampproject.org/c/s/www.bbc.co.uk/news/amp/business-42703549
- 5 skyscrapers we can’t wait to see complete in 2018: http://bit.ly/2D5CNok
- For those with a bit more time on their hands, this precast construction market research report is massively insightful – for the rest of you, I will try to write up a synopsis on this over the next few weeks: http://www.sbwire.com/press-releases/precast-construction-market-research-report-forecast-2017-2025-916270.htm
- US builder hits out at Irish suppliers: https://www.thetimes.co.uk/article/126bacda-fe1d-11e7-ba61-5366488da64d
Proptech
- Irish Government e-invoicing move could set the stage for blockchain evolution: https://www.siliconrepublic.com/enterprise/blockchain-einvoicing-irish-government-peppol
- Kingspan takes $10m stake in property tech firm Invicara Firm has developed software that helps users save time and money on building projects. This puts Kingspan at the forefront of digital transformation within the industry. Kingspan’s Louise Foody Director of Digital and Brand, and Mike Stenson, Head of Innovation, will join the Invicara Board of Directors. https://goo.gl/awcMy8
- How a mid-sized Canadian city became the envy of urban planners: Canada’s smartest city isn’t Sidewalk Toronto: https://www-curbed-com.cdn.ampproject.org/c/s/www.curbed.com/platform/amp/2018/1/12/16884628/urban-planning-hamilton-ontario-canada
- We have special group rates for any Irish innovators, investors and construction/property professionals heading over to Future: Proptech 2018 in London this May: https://www.estateagenttoday.co.uk/breaking-news/2017/8/futureproptech-2018–conference-on-industry-technology-confirmed. Email news@proptech.ie for rates.
To keep up-to-date on all things tech and innovation for the planning, construction and property industries, head over to http://www.prop-tech.ie, the national resource website for innovators, investors and mentors or email news@proptech.ie .
Property Insiders Guide
As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) has undergone a rebrand for 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.
(Finally, as always, apologies for any typos, it’s difficult to get good help on a Sunday!)