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sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_crime-law"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/crime-law/courts" aria-hidden="true" tabindex="-1">Courts</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/property" aria-hidden="true" tabindex="-1">Property</a><button aria-expanded="false" aria-controls="header_sub_section_property" aria-label="Show Property sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_property"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/property/residential" aria-hidden="true" tabindex="-1">Residential</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/property/commercial-property" aria-hidden="true" tabindex="-1">Commercial Property</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/property/interiors" aria-hidden="true" tabindex="-1">Interiors</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/food" aria-hidden="true" tabindex="-1">Food</a><button aria-expanded="false" aria-controls="header_sub_section_food" aria-label="Show Food sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_food"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/food/drink" aria-hidden="true" tabindex="-1">Drink</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/food/recipes" aria-hidden="true" tabindex="-1">Recipes</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/food/restaurants" aria-hidden="true" tabindex="-1">Restaurants</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/health" aria-hidden="true" tabindex="-1">Health</a><button aria-expanded="false" aria-controls="header_sub_section_health" aria-label="Show Health sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_health"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/health/your-family" aria-hidden="true" tabindex="-1">Your Family</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/health/your-fitness" aria-hidden="true" tabindex="-1">Your Fitness</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/health/your-wellness" aria-hidden="true" tabindex="-1">Your Wellness</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/health/your-fitness/get-running" aria-hidden="true" tabindex="-1">Get Running</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/life-style" aria-hidden="true" tabindex="-1">Life & Style</a><button aria-expanded="false" aria-controls="header_sub_section_life-style" aria-label="Show Life & Style sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_life-style"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/life-style/fashion" aria-hidden="true" tabindex="-1">Fashion</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/tags/beauty/" aria-hidden="true" tabindex="-1">Beauty</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/life-style/fine-art-antiques" aria-hidden="true" tabindex="-1">Fine Art & Antiques</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/life-style/gardening" aria-hidden="true" tabindex="-1">Gardening</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/life-style/people" aria-hidden="true" tabindex="-1">People</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/life-style/travel" aria-hidden="true" tabindex="-1">Travel</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/culture" aria-hidden="true" tabindex="-1">Culture</a><button aria-expanded="false" aria-controls="header_sub_section_culture" aria-label="Show Culture sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_culture"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/culture/art" aria-hidden="true" tabindex="-1">Art</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/culture/books" aria-hidden="true" tabindex="-1">Books</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/culture/film" aria-hidden="true" tabindex="-1">Film</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/culture/music" aria-hidden="true" tabindex="-1">Music</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/culture/stage" aria-hidden="true" tabindex="-1">Stage</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/culture/tv-radio" aria-hidden="true" tabindex="-1">TV & Radio</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/environment" aria-hidden="true" tabindex="-1">Environment</a><button aria-expanded="false" aria-controls="header_sub_section_environment" aria-label="Show Environment sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_environment"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/environment/climate-crisis" aria-hidden="true" tabindex="-1">Climate Crisis</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/technology" aria-hidden="true" tabindex="-1">Technology</a><button aria-expanded="false" aria-controls="header_sub_section_technology" aria-label="Show Technology sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_technology"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/technology/big-tech" aria-hidden="true" tabindex="-1">Big Tech</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/technology/consumer-tech" aria-hidden="true" tabindex="-1">Consumer Tech</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/technology/data-security" aria-hidden="true" tabindex="-1">Data & Security</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/technology/gaming" aria-hidden="true" tabindex="-1">Gaming</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/science" aria-hidden="true" tabindex="-1">Science</a><button aria-expanded="false" aria-controls="header_sub_section_science" aria-label="Show Science sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_science"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/science/space" aria-hidden="true" tabindex="-1">Space</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/media" aria-hidden="true" tabindex="-1">Media</a></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/abroad" aria-hidden="true" tabindex="-1">Abroad</a></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/obituaries" aria-hidden="true" tabindex="-1">Obituaries</a></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/transport" aria-hidden="true" tabindex="-1">Transport</a></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/motors" aria-hidden="true" tabindex="-1">Motors</a><button aria-expanded="false" aria-controls="header_sub_section_motors" aria-label="Show Motors sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_motors"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/motors/car-reviews/" aria-hidden="true" tabindex="-1">Car Reviews</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/listen/" aria-hidden="true" tabindex="-1">Listen</a></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/podcasts" aria-hidden="true" tabindex="-1">Podcasts</a><button aria-expanded="false" aria-controls="header_sub_section_podcasts" aria-label="Show Podcasts sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_podcasts"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/podcasts/in-the-news" aria-hidden="true" tabindex="-1">In the News Podcast</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/podcasts/inside-politics" aria-hidden="true" tabindex="-1">Inside Politics Podcast</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/podcasts/the-womens-podcast" aria-hidden="true" tabindex="-1">The Women's Podcast</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/podcasts/inside-business" aria-hidden="true" tabindex="-1">Inside Business Podcast</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/podcasts/ross-ocarroll-kelly" aria-hidden="true" tabindex="-1">Ross O'Carroll-Kelly</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/podcasts/the-counter-ruck" aria-hidden="true" tabindex="-1">The Counter Ruck Podcast</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/podcasts/conversations-with-parents" aria-hidden="true" tabindex="-1">Conversations with Parents Podcast</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/video" aria-hidden="true" tabindex="-1">Video</a></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/photography" aria-hidden="true" tabindex="-1">Photography</a></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/history" aria-hidden="true" tabindex="-1">History</a><button aria-expanded="false" aria-controls="header_sub_section_history" aria-label="Show History sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_history"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/history/century" aria-hidden="true" tabindex="-1">Century</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/tuarascail" aria-hidden="true" tabindex="-1">Tuarascáil</a></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/student-hub" aria-hidden="true" tabindex="-1">Student Hub</a></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/offbeat" aria-hidden="true" tabindex="-1">Offbeat</a></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="https://notices.irishtimes.com" aria-hidden="true" tabindex="-1" rel="noreferrer" target="_blank">Family Notices<span class="visually-hidden">Opens in new window</span></a></li><li class="section-item" data-testid="nav-chain-section-item"><div data-testid="nav-chain-section-item-subsection" class="c-stack b-header-nav-chain__subsection-anchor subsection-anchor " data-style-direction="horizontal" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><a class="c-link" href="/sponsored" aria-hidden="true" tabindex="-1">Sponsored</a><button aria-expanded="false" aria-controls="header_sub_section_sponsored" aria-label="Show Sponsored sub sections" class="c-button c-button--medium c-button--default submenu-caret" type="button"><span><svg class="c-icon" width="20" height="20" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 512 512" fill="currentColor" aria-hidden="true" focusable="false"><path d="M256 416C247.812 416 239.62 412.875 233.38 406.625L41.38 214.625C28.88 202.125 28.88 181.875 41.38 169.375C53.88 156.875 74.13 156.875 86.63 169.375L256 338.8L425.4 169.4C437.9 156.9 458.15 156.9 470.65 169.4C483.15 181.9 483.15 202.15 470.65 214.65L278.65 406.65C272.4 412.9 264.2 416 256 416Z"></path></svg></span></button></div><div class="b-header-nav-chain__subsection-container "><ul class="b-header-nav-chain__subsection-menu" id="header_sub_section_sponsored"><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/advertising-feature" aria-hidden="true" tabindex="-1">Advertising Feature</a></li><li class="subsection-item" data-testid="nav-chain-subsection-item"><a class="c-link" href="/special-reports" aria-hidden="true" tabindex="-1">Special Reports</a></li></ul></div></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/subscriber-rewards/" aria-hidden="true" tabindex="-1">Subscriber Rewards</a></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/competitions" aria-hidden="true" tabindex="-1">Competitions</a></li><li class="section-item" data-testid="nav-chain-section-item"><a class="c-link" href="/weather/" aria-hidden="true" tabindex="-1">Weather Forecast</a></li><li class="section-menu--bottom-placeholder"></li></ul></div></div></div></nav></header><section role="main" tabindex="-1" class="b-it-right-rail-advanced__main" id="main"><div class="c-stack b-it-right-rail-advanced__full-width-1" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap"><div id="arcad-feature-f0ftstPgHB3yM4-1cbd3623afea73" class="default__StyledAdUnit-sc-1moicrg-0 bTOMGw arcad-feature"><div class="arcad-container width_100" style="max-width:970px"><div id="arcad_f0ftstPgHB3yM4-1cbd3623afea73" class="arcad ad-970x90"></div></div></div><div class="c-stack b-section-title" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap"><h1 class="c-heading">Commercial Property</h1></div><hr class="c-divider b-it-divider-block"/><div id="lazy_39444" class="lazy_container"><div class="b-flex-chain"><div class="b-flex-chain__grid-container b-flex-chain__grid-container__633 has-divider gap-divider"><div class="c-stack grid-item grid-column-span-6" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap"><div class="c-stack b-flex-promo-list-block" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap" style="--c-stack-gap:1rem"><article class="b-flex-promo-card bottom-divider"><figure class="c-media-item"><div style="aspect-ratio:1.5;background-color:var(--global-neutral-1)" class=""><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/27/a-rated-industrial-facility-in-southwest-dublin-likely-to-appeal-to-occupiers/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="A-rated industrial facility in southwest Dublin likely to appeal to occupiers" class="c-image" loading="lazy" src="https://www.irishtimes.com/resizer/v2/UK2NRAYMKNATDGBSP7BPPQKXSY.jpg?smart=true&auth=3c261229758afe305838ee2a78365ca4fae32d6901aad2f0ec7c5cf0f93475f8&width=800&height=533" srcSet="https://www.irishtimes.com/resizer/v2/UK2NRAYMKNATDGBSP7BPPQKXSY.jpg?smart=true&auth=3c261229758afe305838ee2a78365ca4fae32d6901aad2f0ec7c5cf0f93475f8&width=400&height=266 400w, https://www.irishtimes.com/resizer/v2/UK2NRAYMKNATDGBSP7BPPQKXSY.jpg?smart=true&auth=3c261229758afe305838ee2a78365ca4fae32d6901aad2f0ec7c5cf0f93475f8&width=440&height=293 440w, https://www.irishtimes.com/resizer/v2/UK2NRAYMKNATDGBSP7BPPQKXSY.jpg?smart=true&auth=3c261229758afe305838ee2a78365ca4fae32d6901aad2f0ec7c5cf0f93475f8&width=800&height=533 800w" sizes="(max-width: 400px) 400px, (max-width: 440px) 440px, (min-width: 441px) 800px" width="800" height="533"/></a></div></figure><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h3 class="c-heading c-heading__md text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/27/a-rated-industrial-facility-in-southwest-dublin-likely-to-appeal-to-occupiers/">A-rated industrial facility in southwest Dublin likely to appeal to occupiers</a></h3><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/27/a-rated-industrial-facility-in-southwest-dublin-likely-to-appeal-to-occupiers/">Shortage of quality stock is likely to spur interest in unit at Greeogue Business Park following refurbishment by Kennedy Wilson</a></p><div class="b-flex-promo-card__metadata"><span class="c-it-byline c-it-byline--list"><span>By</span><span> Fiona Reddan</span></span></div></div></div></article></div></div><div class="c-stack grid-item grid-column-span-3" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap"><div class="c-stack b-flex-promo-list-block" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap" style="--c-stack-gap:1rem"><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h3 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/27/creating-a-sense-of-belonging-makes-a-workplace-effective/">Creating a sense of belonging makes a workplace effective</a></h3><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/27/creating-a-sense-of-belonging-makes-a-workplace-effective/">Successful workplaces are not just about how much space is occupied: it’s also about creating environments that foster collaboration, innovation, and a sense of belonging</a></p><div class="b-flex-promo-card__metadata"><span class="c-it-byline c-it-byline--list"><span>By</span><span> Melanie Bevan</span></span></div></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h3 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/">German investor pays €97.5m for 207 south Dublin apartments</a></h3><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/">DWS’s deal at Hayfield is one of the year’s biggest</a></p><div class="b-flex-promo-card__metadata"><span class="c-it-byline c-it-byline--list"><span>By</span><span> Fiona Reddan</span></span></div></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h3 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/">H&M opens new, bigger Athlone Towncentre store in 10-year deal</a></h3><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/">The Swedish fashion giant is expanding its retail presence in the midlands town</a></p><div class="b-flex-promo-card__metadata"><span class="c-it-byline c-it-byline--list"><span>By</span><span> Fiona Reddan</span></span></div></div></div></article></div></div><div class="c-stack grid-item grid-column-span-3" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap"><div class="c-stack b-flex-promo-list-block" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap" style="--c-stack-gap:1rem"><article class="b-flex-promo-card b-flex-promo-card__image-right bottom-divider"><figure class="c-media-item"><div style="aspect-ratio:1.7777777777777777;background-color:var(--global-neutral-1)" class=""><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/13/dublins-office-market-recovery-may-mean-lower-rents/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Dublin’s office market recovery may mean lower rents" class="c-image" loading="lazy" src="https://www.irishtimes.com/resizer/v2/IYLKIIFRIVBFZFJAGG7TBC2DMU.jpg?smart=true&auth=9ed7c220b1e1871f8f74ee2bbedf186b7b8c3ad9e03f515af551d3390a7cecfd&width=274&height=154" 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recovery may mean lower rents</a></h3></div></div></article><article class="b-flex-promo-card b-flex-promo-card__image-right bottom-divider"><figure class="c-media-item"><div style="aspect-ratio:1.7777777777777777;background-color:var(--global-neutral-1)" class=""><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/20/ballymount-letting-with-corporate-branding-opportunity/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Ballymount letting with corporate branding opportunity" class="c-image" loading="lazy" src="https://www.irishtimes.com/resizer/v2/ZY4GUOY6S5GCTBZTT5BA5J4JI4.jpg?focal=1064%2C649&auth=74f75668f3959da121e21328cc61f043155e55c65ea130c92cbcadd51b7d1433&width=274&height=154" srcSet="https://www.irishtimes.com/resizer/v2/ZY4GUOY6S5GCTBZTT5BA5J4JI4.jpg?focal=1064%2C649&auth=74f75668f3959da121e21328cc61f043155e55c65ea130c92cbcadd51b7d1433&width=400&height=224 400w, 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href="/property/commercial-property/2024/11/20/prime-retail-and-office-opportunity-on-st-stephens-green/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Prime retail and office opportunity on St Stephen’s Green" class="c-image" loading="lazy" src="https://www.irishtimes.com/resizer/v2/SQ22SLHT2FH3PFU7XVAYRXB5KU.jpg?smart=true&auth=beb345339dc00697f4ca9695c804e3b925a3a1177d5bd1961a9a75f5ffbe0f6e&width=274&height=154" srcSet="https://www.irishtimes.com/resizer/v2/SQ22SLHT2FH3PFU7XVAYRXB5KU.jpg?smart=true&auth=beb345339dc00697f4ca9695c804e3b925a3a1177d5bd1961a9a75f5ffbe0f6e&width=400&height=224 400w, https://www.irishtimes.com/resizer/v2/SQ22SLHT2FH3PFU7XVAYRXB5KU.jpg?smart=true&auth=beb345339dc00697f4ca9695c804e3b925a3a1177d5bd1961a9a75f5ffbe0f6e&width=440&height=247 440w, https://www.irishtimes.com/resizer/v2/SQ22SLHT2FH3PFU7XVAYRXB5KU.jpg?smart=true&auth=beb345339dc00697f4ca9695c804e3b925a3a1177d5bd1961a9a75f5ffbe0f6e&width=800&height=449 800w" sizes="(max-width: 400px) 400px, (max-width: 440px) 440px, (min-width: 441px) 800px" width="274" height="154"/></a></div></figure><div class="b-flex-promo-card__text b-flex-promo-card__text-image-right"><div class="b-flex-promo-card__text-no-overline"><h3 class="c-heading c-heading__xs text-align_left"><a class="c-link font-normal" href="/property/commercial-property/2024/11/20/prime-retail-and-office-opportunity-on-st-stephens-green/">Prime retail and office opportunity on St Stephen’s Green</a></h3></div></div></article><article class="b-flex-promo-card b-flex-promo-card__image-right"><figure class="c-media-item"><div style="aspect-ratio:1.7777777777777777;background-color:var(--global-neutral-1)" class=""><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/13/meath-land-bank-offers-potential-for-development/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Meath land bank offers potential for development" class="c-image" loading="lazy" src="https://www.irishtimes.com/resizer/v2/HSVY26NEKRBZ5MH4DTU37XVXKA.jpg?smart=true&auth=82c2de2a8b160693aa6d20abf0b80d5cef543902c71cd50dedcf7fd1f89619cf&width=274&height=154" srcSet="https://www.irishtimes.com/resizer/v2/HSVY26NEKRBZ5MH4DTU37XVXKA.jpg?smart=true&auth=82c2de2a8b160693aa6d20abf0b80d5cef543902c71cd50dedcf7fd1f89619cf&width=400&height=224 400w, https://www.irishtimes.com/resizer/v2/HSVY26NEKRBZ5MH4DTU37XVXKA.jpg?smart=true&auth=82c2de2a8b160693aa6d20abf0b80d5cef543902c71cd50dedcf7fd1f89619cf&width=440&height=247 440w, https://www.irishtimes.com/resizer/v2/HSVY26NEKRBZ5MH4DTU37XVXKA.jpg?smart=true&auth=82c2de2a8b160693aa6d20abf0b80d5cef543902c71cd50dedcf7fd1f89619cf&width=800&height=449 800w" sizes="(max-width: 400px) 400px, (max-width: 440px) 440px, (min-width: 441px) 800px" width="274" height="154"/></a></div></figure><div class="b-flex-promo-card__text b-flex-promo-card__text-image-right"><div class="b-flex-promo-card__text-no-overline"><h3 class="c-heading c-heading__xs text-align_left"><a class="c-link font-normal" href="/property/commercial-property/2024/11/13/meath-land-bank-offers-potential-for-development/">Meath land bank offers potential for development</a></h3></div></div></article></div></div></div></div></div><hr class="c-divider b-it-divider-block"/><div id="arcad-feature-f0ftF03kIB3yQR-1ff2d8d71e9593" class="default__StyledAdUnit-sc-1moicrg-0 gKEhzJ arcad-feature"><div class="arcad-container width_100" style="max-width:970px"><div id="arcad_f0ftF03kIB3yQR-1ff2d8d71e9593" class="arcad ad-970x90"></div></div></div><hr class="c-divider b-it-divider-block"/></div><div class="c-grid b-it-right-rail-advanced__rail-container"><div class="c-stack b-it-right-rail-advanced__main-interior-item " data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap"><div class="c-stack b-it-right-rail-advanced__main-interior-item-1" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap"><div class="c-stack b-flex-promo-list-block" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap" style="--c-stack-gap:1rem"><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/27/a-rated-industrial-facility-in-southwest-dublin-likely-to-appeal-to-occupiers/">A-rated industrial facility in southwest Dublin likely to appeal to occupiers</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/27/a-rated-industrial-facility-in-southwest-dublin-likely-to-appeal-to-occupiers/">Shortage of quality stock is likely to spur interest in unit at Greeogue Business Park following refurbishment by Kennedy Wilson</a></p></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/27/creating-a-sense-of-belonging-makes-a-workplace-effective/">Creating a sense of belonging makes a workplace effective</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/27/creating-a-sense-of-belonging-makes-a-workplace-effective/">Successful workplaces are not just about how much space is occupied: it’s also about creating environments that foster collaboration, innovation, and a sense of belonging</a></p></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/">German investor pays €97.5m for 207 south Dublin apartments</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/">DWS’s deal at Hayfield is one of the year’s biggest</a></p></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/">H&M opens new, bigger Athlone Towncentre store in 10-year deal</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/">The Swedish fashion giant is expanding its retail presence in the midlands town</a></p></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/13/dublins-office-market-recovery-may-mean-lower-rents/">Dublin’s office market recovery may mean lower rents</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/13/dublins-office-market-recovery-may-mean-lower-rents/">Demand for office space is rising again. But, with businesses downsizing, and vacancy rates remaining among Europe’s highest, owners of older blocks will have to start cutting asking rents</a></p></div></div></article></div><div id="arcad-feature-f0fikAcRDNZj1uC-195b1417dd321f" class="default__StyledAdUnit-sc-1moicrg-0 kjbLvz arcad-feature"><div class="arcad-container width_100" style="max-width:fluidpx"><div id="arcad_f0fikAcRDNZj1uC-195b1417dd321f" class="arcad ad-fluid"></div></div></div><div id="fusion-static-enter:html-block-f0f9198FlSkz3B9" style="display:none" data-fusion-component="html-block-f0f9198FlSkz3B9"></div><div><hr class></div><div id="fusion-static-exit:html-block-f0f9198FlSkz3B9" style="display:none" data-fusion-component="html-block-f0f9198FlSkz3B9"></div><div class="c-stack b-flex-promo-list-block" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap" style="--c-stack-gap:1rem"><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/business/2024/11/20/israeli-embassy-and-germanys-second-world-war-mission-in-dublin-face-receivership-sale/">Israeli embassy and Germany’s second World War mission in Dublin face receivership sale</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/business/2024/11/20/israeli-embassy-and-germanys-second-world-war-mission-in-dublin-face-receivership-sale/">Mel Sutcliffe’s Quanta Capital says receiver has been appointed to 27 property assets that it manages by lender Relm Finance</a></p></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/20/ballymount-letting-with-corporate-branding-opportunity/">Ballymount letting with corporate branding opportunity</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/20/ballymount-letting-with-corporate-branding-opportunity/">Interest likely to be strong given scarcity of units of this size available</a></p></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/20/housing-crisis-its-not-just-how-many-homes-we-need-but-what-kind-we-build/">Housing crisis: It’s not just how many homes we need, but what kind we build</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/20/housing-crisis-its-not-just-how-many-homes-we-need-but-what-kind-we-build/">Not everyone is a first-time buyer, not everyone wants to rent and not everyone wants to buy. Catering to all will be a key challenge for next government</a></p></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/20/prime-retail-and-office-opportunity-on-st-stephens-green/">Prime retail and office opportunity on St Stephen’s Green</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/20/prime-retail-and-office-opportunity-on-st-stephens-green/">Plenty of potential on key shopping street for €2.5m</a></p></div></div></article><article class="b-flex-promo-card bottom-divider"><div class="b-flex-promo-card__text"><div class="b-flex-promo-card__text-no-overline"><h2 class="c-heading c-heading__md-sm text-align_left"><a class="c-link font-bold" href="/property/commercial-property/2024/11/13/meath-land-bank-offers-potential-for-development/">Meath land bank offers potential for development</a></h2><p class="c-paragraph"><a class="c-link b-flex-promo-card__link" href="/property/commercial-property/2024/11/13/meath-land-bank-offers-potential-for-development/">Land near Navan bordering the Boyne includes a four-bed red-brick house</a></p></div></div></article></div><div id="arcad-feature-f0fL9KdjmfWs9sH-16ba75672bebe9" class="default__StyledAdUnit-sc-1moicrg-0 kjbLvz arcad-feature"><div class="arcad-container width_100" style="max-width:fluidpx"><div id="arcad_f0fL9KdjmfWs9sH-16ba75672bebe9" class="arcad ad-fluid"></div></div></div><div id="fusion-static-enter:html-block-f0fGv4nsVi0xF4" style="display:none" data-fusion-component="html-block-f0fGv4nsVi0xF4"></div><div><hr class></div><div id="fusion-static-exit:html-block-f0fGv4nsVi0xF4" style="display:none" data-fusion-component="html-block-f0fGv4nsVi0xF4"></div><div class="c-stack b-results-list__wrapper" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap"><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/11/13/sligo-hotel-with-sea-views-for-7m/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Sligo hotel with sea views for €7m" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/AT3UZOYAWZDCPKRT5ZZOSSJWQI.png?smart=true&auth=7db68a770866b47f39b58f192c48d55eff12cfd88c08f4e60b10b421c348a985&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/AT3UZOYAWZDCPKRT5ZZOSSJWQI.png?smart=true&auth=7db68a770866b47f39b58f192c48d55eff12cfd88c08f4e60b10b421c348a985&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/AT3UZOYAWZDCPKRT5ZZOSSJWQI.png?smart=true&auth=7db68a770866b47f39b58f192c48d55eff12cfd88c08f4e60b10b421c348a985&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/11/13/sligo-hotel-with-sea-views-for-7m/">Sligo hotel with sea views for €7m</a></h2><a class="c-link" href="/property/commercial-property/2024/11/13/sligo-hotel-with-sea-views-for-7m/"><p class="c-paragraph">Four-star 98 bed Yeats Country Hotel is in picturesque village of Rosses Point</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/11/13/option-to-buy-ptsb-branch-in-lucan-village-for-1275m/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Option to buy PTSB branch in Lucan village for €1.275m" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/2WFCOMXPCZBGHLVSHJUK4VGXNQ.jpg?smart=true&auth=02b6e5dd0274d51b07649a388815fc57641338e1def65992500ae762fe680a84&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/2WFCOMXPCZBGHLVSHJUK4VGXNQ.jpg?smart=true&auth=02b6e5dd0274d51b07649a388815fc57641338e1def65992500ae762fe680a84&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/2WFCOMXPCZBGHLVSHJUK4VGXNQ.jpg?smart=true&auth=02b6e5dd0274d51b07649a388815fc57641338e1def65992500ae762fe680a84&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/11/13/option-to-buy-ptsb-branch-in-lucan-village-for-1275m/">Option to buy PTSB branch in Lucan village for €1.275m</a></h2><a class="c-link" href="/property/commercial-property/2024/11/13/option-to-buy-ptsb-branch-in-lucan-village-for-1275m/"><p class="c-paragraph">More than six years is remaining on the lease in popular west Dublin location</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/11/13/manor-west-retail-park-set-for-expansion-next-year/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Manor West Retail Park set for expansion next year" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/G45KCY7JZYJPGJ4IVVJ46RU3CY.jpg?smart=true&auth=cff1458625b23b5caa1b4ae4a908cd5e170c3d0b9fe2fb4b2c81ad86da37aaf5&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/G45KCY7JZYJPGJ4IVVJ46RU3CY.jpg?smart=true&auth=cff1458625b23b5caa1b4ae4a908cd5e170c3d0b9fe2fb4b2c81ad86da37aaf5&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/G45KCY7JZYJPGJ4IVVJ46RU3CY.jpg?smart=true&auth=cff1458625b23b5caa1b4ae4a908cd5e170c3d0b9fe2fb4b2c81ad86da37aaf5&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/11/13/manor-west-retail-park-set-for-expansion-next-year/">Manor West Retail Park set for expansion next year</a></h2><a class="c-link" href="/property/commercial-property/2024/11/13/manor-west-retail-park-set-for-expansion-next-year/"><p class="c-paragraph">Leading national and international names already tenants at site in Tralee, Co Kerry</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/11/13/wexford-eyes-up-partners-for-150m-trinity-wharf/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Wexford eyes up partners for €150m Trinity Wharf" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/UAM47EPDSZBKZILG7VKNWFZYIU.jpg?smart=true&auth=fb68032eaa752fc5e84191b0f659e9db2a49b0f8bc9e1ab9c41696ffb4191383&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/UAM47EPDSZBKZILG7VKNWFZYIU.jpg?smart=true&auth=fb68032eaa752fc5e84191b0f659e9db2a49b0f8bc9e1ab9c41696ffb4191383&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/UAM47EPDSZBKZILG7VKNWFZYIU.jpg?smart=true&auth=fb68032eaa752fc5e84191b0f659e9db2a49b0f8bc9e1ab9c41696ffb4191383&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/11/13/wexford-eyes-up-partners-for-150m-trinity-wharf/">Wexford eyes up partners for €150m Trinity Wharf</a></h2><a class="c-link" href="/property/commercial-property/2024/11/13/wexford-eyes-up-partners-for-150m-trinity-wharf/"><p class="c-paragraph">Council looks to progress plans for a ‘world-class’ mixed-use urban quarter, including a hotel, conference centre and apartments at brownfield site between harbour and town</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/11/13/prime-logistics-investment-for-128m-in-ballycoolin/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Prime logistics investment for €12.8m in Ballycoolin" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/T3IOOWM77FEHFPHEEXQXGLDAYY.jpg?smart=true&auth=b352d398ef7493875ad191b7c57361b6b5126a96e807479b4203eb95f6670f09&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/T3IOOWM77FEHFPHEEXQXGLDAYY.jpg?smart=true&auth=b352d398ef7493875ad191b7c57361b6b5126a96e807479b4203eb95f6670f09&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/T3IOOWM77FEHFPHEEXQXGLDAYY.jpg?smart=true&auth=b352d398ef7493875ad191b7c57361b6b5126a96e807479b4203eb95f6670f09&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/11/13/prime-logistics-investment-for-128m-in-ballycoolin/">Prime logistics investment for €12.8m in Ballycoolin</a></h2><a class="c-link" href="/property/commercial-property/2024/11/13/prime-logistics-investment-for-128m-in-ballycoolin/"><p class="c-paragraph">Property in Stadium Business Park is let to Dunnes Stores</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/your-money/2024/11/10/can-a-company-force-me-to-sell-my-shares/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Can a company force me to sell my shares? " class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/QG6QHYQZFBKBRAELFIVO6L3MCI.jpg?smart=true&auth=dd755ca3808b1ea997b5a1af5ef59fd1f0a63ae6369655245e24c75f3668c8d6&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/QG6QHYQZFBKBRAELFIVO6L3MCI.jpg?smart=true&auth=dd755ca3808b1ea997b5a1af5ef59fd1f0a63ae6369655245e24c75f3668c8d6&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/QG6QHYQZFBKBRAELFIVO6L3MCI.jpg?smart=true&auth=dd755ca3808b1ea997b5a1af5ef59fd1f0a63ae6369655245e24c75f3668c8d6&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/your-money/2024/11/10/can-a-company-force-me-to-sell-my-shares/">Can a company force me to sell my shares? </a></h2><a class="c-link" href="/your-money/2024/11/10/can-a-company-force-me-to-sell-my-shares/"><p class="c-paragraph">Balmoral International Land is voting on whether to force investors with fewer than 25,000 shares to sell for a fraction of the net asset value of its assets</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/business/2024/11/07/receivers-appointed-to-mckillen-company-behind-bray-central-shopping-centre/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Receivers appointed to McKillen jnr company behind Bray Central shopping centre" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/43QKLHVUXJAUZNEMXYYW6OSS5I.jpg?focal=2430%2C2159&auth=1a272877e509580938dc964ec20ae20c5bb69bd85074c2e0598adb9f354991c0&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/43QKLHVUXJAUZNEMXYYW6OSS5I.jpg?focal=2430%2C2159&auth=1a272877e509580938dc964ec20ae20c5bb69bd85074c2e0598adb9f354991c0&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/43QKLHVUXJAUZNEMXYYW6OSS5I.jpg?focal=2430%2C2159&auth=1a272877e509580938dc964ec20ae20c5bb69bd85074c2e0598adb9f354991c0&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/business/2024/11/07/receivers-appointed-to-mckillen-company-behind-bray-central-shopping-centre/">Receivers appointed to McKillen jnr company behind Bray Central shopping centre</a></h2><a class="c-link" href="/business/2024/11/07/receivers-appointed-to-mckillen-company-behind-bray-central-shopping-centre/"><p class="c-paragraph">Wicklow County Council agreed to sell the site to Navybrook in 2019</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/business/2024/11/06/mike-ashley-firm-gets-green-light-to-open-large-gym-on-one-floor-of-former-debenhams-stores-on-henry-street-in-dublin/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Mike Ashley firm gets green light to open large gym on one floor of former Debenhams stores on Henry Street in Dublin" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/B6BEV64ZLNKFTLLTVNDPD734MY.jpg?smart=true&auth=4e9ea18aa38261ea471ec29f5758430229c085d63df4223b1b156bafbac9f626&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/B6BEV64ZLNKFTLLTVNDPD734MY.jpg?smart=true&auth=4e9ea18aa38261ea471ec29f5758430229c085d63df4223b1b156bafbac9f626&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/B6BEV64ZLNKFTLLTVNDPD734MY.jpg?smart=true&auth=4e9ea18aa38261ea471ec29f5758430229c085d63df4223b1b156bafbac9f626&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/business/2024/11/06/mike-ashley-firm-gets-green-light-to-open-large-gym-on-one-floor-of-former-debenhams-stores-on-henry-street-in-dublin/">Mike Ashley firm gets green light to open large gym on one floor of former Debenhams stores on Henry Street in Dublin</a></h2><a class="c-link" href="/business/2024/11/06/mike-ashley-firm-gets-green-light-to-open-large-gym-on-one-floor-of-former-debenhams-stores-on-henry-street-in-dublin/"><p class="c-paragraph">Applicant was Heatons Ltd, which trades as Sports Direct in Ireland</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/11/06/cork-office-and-retail-opportunity-offers-gilt-edged-investment-for-6m/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Cork office and retail opportunity offers gilt-edged investment for €6m" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/NGMTOLDUWVFR7F4NYP2EMFSFME.jpeg?smart=true&auth=2f198c73175c534b3b6ac13b812d2808b6b33e3141d60ba1c03084b199b8cec7&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/NGMTOLDUWVFR7F4NYP2EMFSFME.jpeg?smart=true&auth=2f198c73175c534b3b6ac13b812d2808b6b33e3141d60ba1c03084b199b8cec7&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/NGMTOLDUWVFR7F4NYP2EMFSFME.jpeg?smart=true&auth=2f198c73175c534b3b6ac13b812d2808b6b33e3141d60ba1c03084b199b8cec7&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/11/06/cork-office-and-retail-opportunity-offers-gilt-edged-investment-for-6m/">Cork office and retail opportunity offers gilt-edged investment for €6m</a></h2><a class="c-link" href="/property/commercial-property/2024/11/06/cork-office-and-retail-opportunity-offers-gilt-edged-investment-for-6m/"><p class="c-paragraph">Property comprises the ground and third floors of the landmark, five-storey City Quarter development</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/11/06/potential-for-boutique-guesthouse-in-trendy-dublin-suburb-of-phibsborough/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Potential for boutique guesthouse in trendy Dublin suburb of Phibsborough" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/PTUCWH4SJRE4RBTCGKDLRB4L2A.jpg?smart=true&auth=bc7a808a69b132e8b992c98a027cee1f5273d07e667c041f160175dce756a7b2&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/PTUCWH4SJRE4RBTCGKDLRB4L2A.jpg?smart=true&auth=bc7a808a69b132e8b992c98a027cee1f5273d07e667c041f160175dce756a7b2&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/PTUCWH4SJRE4RBTCGKDLRB4L2A.jpg?smart=true&auth=bc7a808a69b132e8b992c98a027cee1f5273d07e667c041f160175dce756a7b2&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/11/06/potential-for-boutique-guesthouse-in-trendy-dublin-suburb-of-phibsborough/">Potential for boutique guesthouse in trendy Dublin suburb of Phibsborough</a></h2><a class="c-link" href="/property/commercial-property/2024/11/06/potential-for-boutique-guesthouse-in-trendy-dublin-suburb-of-phibsborough/"><p class="c-paragraph">Distinguished period property Royal Canal House is on the market at €1.6m</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/11/06/new-shops-for-grafton-street-mango-milano-kiko-and-alo-yoga-lead-changing-of-the-retail-guard/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="New shops for Grafton Street: Mango, Kiko Milano and Alo Yoga lead changing of the retail guard" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/UU7JBIBMXJGILABI3P7BQL5G2Q.jpg?smart=true&auth=9664cc77b27d2589722a38f669c80c51a16980152d919ed9bc6535d12f562c5d&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/UU7JBIBMXJGILABI3P7BQL5G2Q.jpg?smart=true&auth=9664cc77b27d2589722a38f669c80c51a16980152d919ed9bc6535d12f562c5d&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/UU7JBIBMXJGILABI3P7BQL5G2Q.jpg?smart=true&auth=9664cc77b27d2589722a38f669c80c51a16980152d919ed9bc6535d12f562c5d&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/11/06/new-shops-for-grafton-street-mango-milano-kiko-and-alo-yoga-lead-changing-of-the-retail-guard/">New shops for Grafton Street: Mango, Kiko Milano and Alo Yoga lead changing of the retail guard</a></h2><a class="c-link" href="/property/commercial-property/2024/11/06/new-shops-for-grafton-street-mango-milano-kiko-and-alo-yoga-lead-changing-of-the-retail-guard/"><p class="c-paragraph">Despite the rise of online shopping and vacant outlets remaining an issue in the capital, the pipeline of international retail investment looks strong</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/business/2024/11/05/davy-sells-its-real-estate-arm-to-divisions-chief-executive-david-goddard/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Davy sells its real estate arm to division’s chief executive David Goddard " class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/Z7QXLQZRFBE6HCDIOGKTF2RE7I.jpg?smart=true&auth=5649749fcdaa6c73416adfab31bc221c49406c9b36d793afbd203fb35e066507&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/Z7QXLQZRFBE6HCDIOGKTF2RE7I.jpg?smart=true&auth=5649749fcdaa6c73416adfab31bc221c49406c9b36d793afbd203fb35e066507&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/Z7QXLQZRFBE6HCDIOGKTF2RE7I.jpg?smart=true&auth=5649749fcdaa6c73416adfab31bc221c49406c9b36d793afbd203fb35e066507&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/business/2024/11/05/davy-sells-its-real-estate-arm-to-divisions-chief-executive-david-goddard/">Davy sells its real estate arm to division’s chief executive David Goddard </a></h2><a class="c-link" href="/business/2024/11/05/davy-sells-its-real-estate-arm-to-divisions-chief-executive-david-goddard/"><p class="c-paragraph">Entity manages St Stephen’s Green Shopping Centre on behalf of clients</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/business/2024/11/04/technology-sector-share-of-dublin-office-take-up-shrinks-to-new-low-of-71-in-third-quarter/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Technology sector share of Dublin office take-up shrinks to new low of 7.1% in third quarter" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/CFMCEQLQT4NH2F4YX3QRGWUECQ.jpg?smart=true&auth=8a253008d30de46d2e289537f49e1d474c73cc5e8fe420d6a71f30e35b92e812&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/CFMCEQLQT4NH2F4YX3QRGWUECQ.jpg?smart=true&auth=8a253008d30de46d2e289537f49e1d474c73cc5e8fe420d6a71f30e35b92e812&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/CFMCEQLQT4NH2F4YX3QRGWUECQ.jpg?smart=true&auth=8a253008d30de46d2e289537f49e1d474c73cc5e8fe420d6a71f30e35b92e812&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/business/2024/11/04/technology-sector-share-of-dublin-office-take-up-shrinks-to-new-low-of-71-in-third-quarter/">Technology sector share of Dublin office take-up shrinks to new low of 7.1% in third quarter</a></h2><a class="c-link" href="/business/2024/11/04/technology-sector-share-of-dublin-office-take-up-shrinks-to-new-low-of-71-in-third-quarter/"><p class="c-paragraph">Vacancy rate overall edged higher in the third quarter, despite ‘positive momentum’ for leases, says BNP Paribas Real Estate Ireland report</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/10/30/ratoath-residential-site-with-scope-for-57-apartments/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Ratoath residential site with scope for 57 apartments" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/DVKHBMVP6FA5BGBYYONOARDW5I.jpg?smart=true&auth=1a063707fc460eac50c4ac3eb1a27c28803bcf40bc067ca4e0e0146927064063&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/DVKHBMVP6FA5BGBYYONOARDW5I.jpg?smart=true&auth=1a063707fc460eac50c4ac3eb1a27c28803bcf40bc067ca4e0e0146927064063&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/DVKHBMVP6FA5BGBYYONOARDW5I.jpg?smart=true&auth=1a063707fc460eac50c4ac3eb1a27c28803bcf40bc067ca4e0e0146927064063&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/10/30/ratoath-residential-site-with-scope-for-57-apartments/">Ratoath residential site with scope for 57 apartments</a></h2><a class="c-link" href="/property/commercial-property/2024/10/30/ratoath-residential-site-with-scope-for-57-apartments/"><p class="c-paragraph">€1.5m Co Meath development site is situated in town centre, within walking distance of schools</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/10/30/want-to-live-over-the-shops-on-grafton-street-it-could-soon-be-possible/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Want to live over the shops on Grafton Street? It could soon be possible" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/X4F2RNPMLNFQHLWTIPSSYSNILE.jpg?smart=true&auth=5fdbd9e7f10c6fcb26245a3d09be0df19581ffe78844123287774515f1b39cac&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/X4F2RNPMLNFQHLWTIPSSYSNILE.jpg?smart=true&auth=5fdbd9e7f10c6fcb26245a3d09be0df19581ffe78844123287774515f1b39cac&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/X4F2RNPMLNFQHLWTIPSSYSNILE.jpg?smart=true&auth=5fdbd9e7f10c6fcb26245a3d09be0df19581ffe78844123287774515f1b39cac&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/10/30/want-to-live-over-the-shops-on-grafton-street-it-could-soon-be-possible/">Want to live over the shops on Grafton Street? It could soon be possible</a></h2><a class="c-link" href="/property/commercial-property/2024/10/30/want-to-live-over-the-shops-on-grafton-street-it-could-soon-be-possible/"><p class="c-paragraph">Plans submitted for apartments over Abrakebabra and Swarovski on Dublin’s busy shopping street</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/10/30/urbeo-makes-fresh-move-into-logistics/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Urbeo makes fresh move into logistics" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/BF6XXYVTE5E25GIANFIRCGGNS4.JPG?focal=832%2C362&auth=8c78819bab666a4983aaf53d6f4fc5bd7495d14f7832efb2378fb31ff9d81a88&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/BF6XXYVTE5E25GIANFIRCGGNS4.JPG?focal=832%2C362&auth=8c78819bab666a4983aaf53d6f4fc5bd7495d14f7832efb2378fb31ff9d81a88&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/BF6XXYVTE5E25GIANFIRCGGNS4.JPG?focal=832%2C362&auth=8c78819bab666a4983aaf53d6f4fc5bd7495d14f7832efb2378fb31ff9d81a88&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/10/30/urbeo-makes-fresh-move-into-logistics/">Urbeo makes fresh move into logistics</a></h2><a class="c-link" href="/property/commercial-property/2024/10/30/urbeo-makes-fresh-move-into-logistics/"><p class="c-paragraph">Property investor acquires prime Dublin facility in partnership with ICG Real Estate</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/10/30/dublins-office-market-driven-by-demand-for-space-with-esg-credentials/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Dublin’s office market driven by demand for space with ESG credentials" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/WQ2JMGRTN5HIHBXW2EAZJHHXII.jpg?smart=true&auth=b6b21eb3e58826666763755a2635291e25fe9724c3a923c592120cf6a4fe5f41&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/WQ2JMGRTN5HIHBXW2EAZJHHXII.jpg?smart=true&auth=b6b21eb3e58826666763755a2635291e25fe9724c3a923c592120cf6a4fe5f41&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/WQ2JMGRTN5HIHBXW2EAZJHHXII.jpg?smart=true&auth=b6b21eb3e58826666763755a2635291e25fe9724c3a923c592120cf6a4fe5f41&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/10/30/dublins-office-market-driven-by-demand-for-space-with-esg-credentials/">Dublin’s office market driven by demand for space with ESG credentials</a></h2><a class="c-link" href="/property/commercial-property/2024/10/30/dublins-office-market-driven-by-demand-for-space-with-esg-credentials/"><p class="c-paragraph">Shift from older buildings to sustainable alternatives is supporting prime rents and driving down vacancy rates</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/10/30/irish-family-acquires-iconic-ulster-bank-premises-on-baggot-street/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Irish family acquires famous Ulster Bank premises on Baggot Street" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/54JDW5N3JNHHXEEO3EWOS4UHRY.jpg?smart=true&auth=ef4d230943926a8996336fbb86f87a3cbdf21fd997648e4758dfdfea6eb7aa1a&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/54JDW5N3JNHHXEEO3EWOS4UHRY.jpg?smart=true&auth=ef4d230943926a8996336fbb86f87a3cbdf21fd997648e4758dfdfea6eb7aa1a&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/54JDW5N3JNHHXEEO3EWOS4UHRY.jpg?smart=true&auth=ef4d230943926a8996336fbb86f87a3cbdf21fd997648e4758dfdfea6eb7aa1a&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/10/30/irish-family-acquires-iconic-ulster-bank-premises-on-baggot-street/">Irish family acquires famous Ulster Bank premises on Baggot Street</a></h2><a class="c-link" href="/property/commercial-property/2024/10/30/irish-family-acquires-iconic-ulster-bank-premises-on-baggot-street/"><p class="c-paragraph">Investment vehicle of Jim and Janet Curley also acquired neighbouring property with plans to redevelop site</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/10/23/bianconi-development-sends-message-on-green-building-design/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="Bianconi development sends message on green building design" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/JQ5QLU2PWBDP5ESKJ77GQP5KFE.jpg?smart=true&auth=203d653ea88a608be7a5a2b45334a8a6db94c262a6c85423fefc05fd5c4877ae&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/JQ5QLU2PWBDP5ESKJ77GQP5KFE.jpg?smart=true&auth=203d653ea88a608be7a5a2b45334a8a6db94c262a6c85423fefc05fd5c4877ae&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/JQ5QLU2PWBDP5ESKJ77GQP5KFE.jpg?smart=true&auth=203d653ea88a608be7a5a2b45334a8a6db94c262a6c85423fefc05fd5c4877ae&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/10/23/bianconi-development-sends-message-on-green-building-design/">Bianconi development sends message on green building design</a></h2><a class="c-link" href="/property/commercial-property/2024/10/23/bianconi-development-sends-message-on-green-building-design/"><p class="c-paragraph">Citywest Business Campus warehouse and office headquarters available to let for €1.42m</p></a></div><hr class="c-divider"/><div class="b-results-list b-results-list--show-image"><figure class="c-media-item"><a class="c-link" href="/property/commercial-property/2024/10/23/hq-opportunity-in-historic-building-on-dublins-south-william-street/" aria-hidden="true" tabindex="-1"><img data-chromatic="ignore" alt="HQ opportunity in historic building on Dublin’s South William Street" class="c-image" loading="eager" src="https://www.irishtimes.com/resizer/v2/4TV363YDYFDQFEG24KEV6JEK2A.jpg?smart=true&auth=75034ab2251d502c2d291b1d67c075ebfed3feefccdbac199a20cc2b474f715a&width=500&height=333" srcSet="https://www.irishtimes.com/resizer/v2/4TV363YDYFDQFEG24KEV6JEK2A.jpg?smart=true&auth=75034ab2251d502c2d291b1d67c075ebfed3feefccdbac199a20cc2b474f715a&width=250&height=166 250w, https://www.irishtimes.com/resizer/v2/4TV363YDYFDQFEG24KEV6JEK2A.jpg?smart=true&auth=75034ab2251d502c2d291b1d67c075ebfed3feefccdbac199a20cc2b474f715a&width=500&height=333 500w" sizes="(min-width: 48rem) 500px, 250px" width="500" height="333"/></a></figure><h2 class="c-heading"><a class="c-link" href="/property/commercial-property/2024/10/23/hq-opportunity-in-historic-building-on-dublins-south-william-street/">HQ opportunity in historic building on Dublin’s South William Street</a></h2><a class="c-link" href="/property/commercial-property/2024/10/23/hq-opportunity-in-historic-building-on-dublins-south-william-street/"><p class="c-paragraph">Rent is competitive at €45 sq ft in refurbished building that dates from 1765</p></a></div><hr class="c-divider"/><div class="c-stack b-results-list__seeMore" data-style-direction="vertical" data-style-justification="start" data-style-alignment="center" data-style-inline="false" data-style-wrap="nowrap"><button aria-label="See more stories about this topic" class="c-button c-button--medium c-button--primary" type="button"><span>See more</span></button></div></div></div><div class="c-stack b-it-right-rail-advanced__main-interior-item-2" data-style-direction="vertical" data-style-justification="start" data-style-alignment="unset" data-style-inline="false" data-style-wrap="nowrap"></div></div><div class="c-stack b-it-right-rail-advanced__main-right-rail b-it-right-rail-advanced__empty" data-style-direction="vertical" 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interest is expected in the letting of a unit at Greenogue Business Park from tenants looking for a best-in-class facility in a prime location. The unit will be available for occupation in the first quarter of 2025.","type":"text"},{"_id":"4HM2IY4AVZHY3P5PNBZUUQL4BU","additional_properties":{"_id":1732535738163},"content":"Launched to the market by US investment fund Kennedy Wilson on a leasehold basis, Unit 502B Greenogue Business Park, Co Dublin, extends to about 22,217sq ft, and includes about 6,351sq ft of three-storey office accommodation. The property is undergoing an extensive refurbishment, a process that will take the Ber to a rating of A2.","type":"text"},{"_id":"DQMX2GBC4JH43LIVK3JMKRLI5U","additional_properties":{"_id":1732535738164},"content":"Kennedy Wilson acquired a portfolio of 12 units across the Greenogue and Aerodrome Business Parks, Co Dublin, for about €39 million in 2022.","type":"text"},{"_id":"NI2Q4GFWEFBATMAMXZXNMNMKGQ","additional_properties":{"_id":1732535738165},"content":"Given the shortage of similar accommodation available to tenants in the Dublin market, especially in the southwest corridor, the joint selling agents, CBRE and Harvey, say the launch of this property is timely and are quoting an annual rent of €306,000/€13.75sq ft.","type":"text"},{"_id":"KKEUWGZHPNFNBMFJFR3G4W3QBI","additional_properties":{"_id":1732534037966},"content":"Greenogue Business Park is one of Dublin’s most prominent industrial and logistics locations, with more than six million square feet of stock. It is in a high-profile location just three minutes from the N7 motorway and within eight minutes of junction 9 on the M50. It is home to market-leading occupiers such as Amazon, Google and Uniphar.","type":"text"},{"_id":"OLYJCVTWNNCBDFJTGEKFG35IYY","additional_properties":{"_id":"DMTSFZZIVZBHDNDOVICGXO4OPM"},"type":"image"},{"_id":"YHPXR5KFPFETPOLO66FXTJSN6Q","additional_properties":{"_id":1732534037967},"content":"The warehouse specification comprises a metal deck roof with photovoltaic roof panels, LED lighting, a 12.5m clear internal height and sealed concrete floors.","type":"text"},{"_id":"UDC7A5F5YNDPTLBAVQSF5DIUNA","additional_properties":{"_id":1732720281212},"content":"The office accommodation is undergoing a high-quality refurbishment to include a feature reception, new air conditioning system, new suspended ceilings with LED lighting, freshly painted and plastered walls, staff kitchenette facilities, new fire alarm, new access control and intercom infrastructure along with new floor coverings throughout.","type":"text"},{"_id":"QVY66ZBIUFHFZEMNJIL45FPSJM","additional_properties":{"_id":1732534037970},"content":"According to the joint agents: “This is a fantastic example of retrofitting an existing unit to attain improved sustainability credentials and meet the requirements of current occupiers. Following the retrofit, this unit will appeal to tenants looking for best-in-class space that can be delivered in the short term. As we know, there is an ongoing shortage of quality industrial and logistics stock along the southwest corridor. This, coupled with a 2.5 per cent vacancy rate and the high specification of Unit 502B, should result in strong demand from occupiers.”","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Shortage of quality stock is likely to spur interest in unit at Greeogue Business Park following refurbishment by Kennedy Wilson"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"A-rated industrial facility in southwest Dublin likely to appeal to occupiers","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"UK2NRAYMKNATDGBSP7BPPQKXSY","auth":{"1":"3c261229758afe305838ee2a78365ca4fae32d6901aad2f0ec7c5cf0f93475f8"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/UK2NRAYMKNATDGBSP7BPPQKXSY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/a-rated-industrial-facility-in-southwest-dublin-likely-to-appeal-to-occupiers/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"4GTQ4X2GSNEJBIPE5AUX53QIXY","additional_properties":{"audio_duration":318,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/6f916e90-d11d-4c6d-8b16-590195fc5a83/versions/1732643615/media/bcdcf44870be60efffa68ca76eee4374_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/27/creating-a-sense-of-belonging-makes-a-workplace-effective/","content_elements":[{"_id":"YAFPCUHDUBDYVMO5LJOLHZ5NZQ","additional_properties":{"_id":1732115081306},"content":"As the global workplace landscape continues to evolve, how do we measure success? Addressing this, the 2024-25 CBRE Global Workplace and Occupancy Insights report presents a compelling narrative about the progressive metrics of workplace success.","type":"text"},{"_id":"BJZF5J7IHREH3LNMNEHP5YOCKU","additional_properties":{"_id":1732613737492},"content":"Traditionally, organisations have measured workplace effectiveness through efficiency, often focusing on maximising office utilisation rates (office attendance divided by office capacity). The EMEA average office utilisation sits at 39 per cent, with a peak of 68 per cent. However, the rise of hybrid working models requires employers to take a more nuanced approach to understand office efficiency. A medium-sized Dublin occupier that we have surveyed is experiencing between 51-63 per cent utilisation Monday through to Thursday.","type":"text"},{"_id":"U654RXX475CALLBOFJOBY4GVDA","additional_properties":{"_id":1732791896064},"content":"While many occupiers would assume that Monday provides the lowest attendance, it is one of the highest throughout the week, due to implementation of in-person upskilling sessions and leadership role-modelling. Friday occupancy is averaging at 28 per cent, which is common across occupiers in the city and wider region.","type":"text"},{"_id":"YCEWGMX3CRAP3O3X7SVY7W6QHU","additional_properties":{"_id":1732613737493},"content":"One of the most noticeable insights from the report is the disparity between target utilisation and actual office attendance. Occupiers continue to set ambitious goals for office occupancy, but the reality is that many employees continue to opt for flexible work arrangements, resulting in lower attendance rates. This discrepancy reiterates the need for employers to rethink their approach to workplace metrics and consider not just how much space is used, but how effectively it supports employee needs and business objectives.","type":"text"},{"_id":"SXUCZA76NZBSHA44RYOB7734AQ","additional_properties":{"_id":"P6EIFZHX6BG2JCIML2FQZH4ZSY"},"subtype":"pullquote","type":"quote"},{"_id":"4JEU7X5XFVBPXIP5PX6ROWKQLQ","additional_properties":{"_id":1732613737494},"content":"Almost three-quarters (73 per cent) of occupiers believe their workplace is effective, but only 46 per cent are actively measuring effectiveness. Moreover, the metrics used for this measure are under question.","type":"text"},{"_id":"EMSQXTQJDBGHZP7IFIID43DIIY","additional_properties":{"_id":1732613737495},"content":"The report emphasises the importance of employee sentiment and retention rates as vital metrics for measuring workplace effectiveness. Organisations are increasingly aware that happy, engaged employees are more productive and committed to their work. As such, understanding employee satisfaction is no longer an afterthought: it is central to crafting effective workplace strategies.","type":"text"},{"_id":"3F6CLTQHZJH2HGCOM54BBXTI5A","additional_properties":{"_id":1732613737496},"content":"Companies that prioritise employee wellbeing not only enhance retention, but also cultivate high employee morale.","type":"text"},{"_id":"ZDNSM75MNNDF7FEX5EOOQZWM64","additional_properties":{"_id":1732613737497},"content":"In the Dublin office market, the prevalence of Grade A+ category space involved in the top five largest deals, and nearly 60 per cent of space taken altogether in the third quarter of 2024, supports the notion that occupiers will continue to migrate into the best offices in the best locations in the city. Whilst this lowers the high vacancy rate in this cohort, older buildings in non-core locations could be left “stranded”.","type":"text"},{"_id":"A6FPL6HEHJGTHNIFHMHXT5QAUE","additional_properties":{"_id":1732613737498},"content":"Grade A+ spaces may include prime location, modern design, sustainable features often accredited with the likes of sustainability metrics like LEED, BREEAM and WELL. Building amenities such as gyms, retail offerings and social spaces are increasingly valued, and smart buildings with high-speed internet, HVAC systems and advanced technology all contribute to the office as a destination – creating a magnetising space rather than mandating attendance.","type":"text"},{"_id":"WPYPCSWRRZAFHFSBUAL5KK3OBY","additional_properties":{"_id":"4TKF3EUWHNETDFHXTYZWF2JWT4"},"subtype":"pullquote","type":"quote"},{"_id":"KH2DLZAJBBDSNBZNX56CK5MW74","additional_properties":{"_id":1732613737499},"content":"Ultimately, the aim remains that of creating highly populated, thriving workplaces to support organisations achieving ambitious goals.","type":"text"},{"_id":"NXF7BE25OBFHHMFT6K432GOQBE","additional_properties":{"_id":1732613737500},"content":"Aligning corporate real estate targets, with workplace policies, is another essential takeaway from the report. Almost all (96 per cent) organisations surveyed have a definitive workplace policy in place. In Ireland, about 85 per cent of organisations have a workplace policy, and only 60 per cent with allocated days per week. To create a truly effective workplace, organisations must ensure that their spatial strategies reflect their broader business objectives.","type":"text"},{"_id":"QEH76TO73ZFXDMPXGJ55SRW5CA","additional_properties":{"_id":1732791896075},"content":"This alignment fosters an environment that supports both operational efficiency and employee satisfaction. Whilst retaining flexibility remains to be seen as an important and valuable part of an employer value proposition, organisations should be intentional in defining and communicating their workplace vision long-term, to remain an attractive employer in a competitive Dublin job market.","type":"text"},{"_id":"TH7EKALDUFCJ3E2OY6AMYFFLI4","additional_properties":{"_id":1732613737501},"content":"As companies shift their focus from mere efficiency to a more holistic understanding of effectiveness, they must embrace hybrid work models, prioritise employee satisfaction, and strategically leverage technology. The future of work is not just about how much space is occupied, but about creating environments that foster collaboration, innovation, and a sense of belonging.","type":"text"},{"_id":"3BZZXAYS7JEZRMNQZJWHBDAAHE","additional_properties":{"_id":1732115081311},"content":"<i>Melanie Bevan is strategy and change manager at CBRE</i>","type":"text"},{"_id":"VHO5IZVKKVA4HNYP6WAKCMUEWU","additional_properties":{"_id":1732115081312},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"Melanie Bevan"}]},"description":{"basic":"Successful workplaces are not just about how much space is occupied: it’s also about creating environments that foster collaboration, innovation, and a sense of belonging"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"Creating a sense of belonging makes a workplace effective","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"TRSOLHHHEBHI5CH7KBAGJJCWUY","auth":{"1":"a2d4341b4800ea7cb0c75ad9c3b25d084c66093c3351c2f285085bb9ef1edf93"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/TRSOLHHHEBHI5CH7KBAGJJCWUY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/creating-a-sense-of-belonging-makes-a-workplace-effective/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"EZYKVGLFMRB2ZOCMH2RHQKRMOI","additional_properties":{"audio_duration":138,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/4b1d662c-312d-4288-aa88-27253637a086/versions/1732628128/media/084855e574b7c4ed4e68ee032674fba6_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1732616656419},"content":"German investor <a href=\"https://www.irishtimes.com/tags/dws/\" target=\"_blank\">DWS </a>has paid €97.5 million for the 207-unit Hayfield apartment project in <a href=\"https://www.irishtimes.com/tags/killiney\" target=\"_blank\">Killiney</a>, in an off-market transaction. It is one of the largest private rented sector deals of the year.","type":"text"},{"_id":"SW74NL6MWZBDDKX3SARHTKV7I4","additional_properties":{"_id":1732623592768},"content":"DWS, which is understood to be also close to completing the sale of its Point Campus student development to US investor <a href=\"https://www.irishtimes.com/tags/greystar/\" target=\"_blank\">Greystar</a>, agreed to purchase the Killiney apartments in a forward purchase deal with Park Developments on behalf of two of its German institutional real estate funds.","type":"text"},{"_id":"D4K5MCIN3NG73LH5ZTLQXAVBJM","additional_properties":{"_id":1732623592769},"content":"DWS, a subsidiary of Deutsche Bank, paid about €471,014 per unit at Hayfield, which is west of Killiney Hill and next to Killiney Shopping Centre, opposite the Graduate pub. Properties at the just launched development are available to rent from €2,150 a month.","type":"text"},{"_id":"FDE4Y4U2OBHUJEY5IWP56KFIKU","additional_properties":{"_id":1732667557504},"content":"The development features an on-site concierge, reception and resident app, along with communal break out areas, office pods and gym, and is well served by transport links, as well as strong amenities including golf courses, a nearby village and schools.","type":"text"},{"_id":"6NVULV6V7JEUBAOZLYNVPYYQ3E","additional_properties":{"_id":1732623592770},"content":"Adam Johnson, the head of real estate asset management UK at DWS said: “Demand for high quality, professionally managed schemes is proving increasingly attractive due to changing lifestyle choices and an undersupply of rental options.”","type":"text"},{"_id":"BQJ74ADQZZGT3NTTLOMLGZQPT4","additional_properties":{"_id":1732623592772},"content":"Meanwhile, the sale of the landmark North Dock office scheme, beside Dublin’s 3Arena, has closed for a sum understood to be about €85 million – far below the asking price. The scheme, which was developed by Targeted Investment Opportunities (TIO), an umbrella fund involving Nama, Oaktree Capital and Bennett Construction, extends to some 18,766sq m (202,000sq ft) across North Dock One and North Dock Two.","type":"text"},{"_id":"4YG5SMWCRJGYZKLM7YAA63YNCQ","additional_properties":{"_id":1732623592773},"content":"The property was put on the market for about €130 million earlier this year, on behalf of the receiver, Interpath Advisory, which was appointed by US investment giant Pimco, who provided funding to the project. CBRE handled the sale.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"DWS’s deal at Hayfield is one of the year’s biggest"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"German investor pays €97.5m for 207 south Dublin apartments","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"ELRKPETWVRFCVJZLKJP6DJNPJA","auth":{"1":"85093853c463f2028acc6320e12b0eaf92f6db0dcaaa884164776216d3b2a70a"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/ELRKPETWVRFCVJZLKJP6DJNPJA.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"RS3TOLRN65EL3DDCFXNTM2XVNY","additional_properties":{"audio_duration":146,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/263f0507-3ebc-446f-a559-25290adfd8b1/versions/1732532006/media/d4cfe68d6ec85cf4fd357075074817a9_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1732523627119},"content":"Midlands shoppers will get an early <a href=\"https://www.irishtimes.com/tags/black-friday/\" target=\"_blank\">Black Friday</a> boost today when <a href=\"https://www.irishtimes.com/tags/sweden/\" target=\"_blank\">Swedish</a> <a href=\"https://www.irishtimes.com/life-style/fashion/\" target=\"_blank\">fashion</a> giant <a href=\"https://www.irishtimes.com/tags/h-m/\" target=\"_blank\">H&M</a> opens a new, bigger store in <a href=\"https://www.irishtimes.com/tags/athlone-towncentre/\" target=\"_blank\">Athlone Towncentre</a>.","type":"text"},{"_id":"3LTLO5FFOBBKPLERQFJFURV5WQ","additional_properties":{"_id":1732524729587},"content":"The retailer, which also owns brands including & Other Stories and Cos, has steadily being building up its Irish presence of late. Earlier this year it became the first retailer to move into the new <a href=\"https://www.irishtimes.com/ireland/dublin/2024/03/15/first-look-at-clerys-quarter-a-glimpse-inside-one-of-dublins-best-known-shops-for-the-first-time-in-nine-years/\" target=\"_blank\">Clerys Quarter</a>, while its more upmarket offering, Arket, is expected to open on Dublin’s Dawson Street early next year.","type":"text"},{"_id":"UZBPIC6C7VHR5P6X7KPB63OJ74","additional_properties":{"_id":1732524729588},"content":"In Athlone, H&M has signed a 10-year lease for its new store, which is an amalgamation of two units at ground-floor and first-floor levels. It will increase the retailer’s store size from 1,104sq m (11,887sq ft) to 1,411sq m (15,192sq ft), after an investment of some €3 million in store re-fit. The letting agents are Bannon and Cushman & Wakefield.","type":"text"},{"_id":"POR2IN5ORRH55NUICNC3YGCFPQ","additional_properties":{"_id":1732524729589},"content":"The shopping centre, which opened in 2007 and is the largest such outlet in the midlands, now has 98 per cent occupancy. It has seen a flurry of activity of late, with the arrival of a new anchor tenant Sports Direct, as well as big new brands including Rituals, an expanded Pamela Scott store and new Irish brands Echo Hair and Nails, Koo Koo and the recently opened Nana’s Tea.","type":"text"},{"_id":"UOP6CBTXLJEUFJHCCZ72RPEUCA","additional_properties":{"_id":1732524729590},"content":"Jennifer Mulholland, director at Bannon, said: “With this latest announcement, Athlone Towncentre is delivering on our long-term ambition for the scheme – namely, to become the leading shopping-centre destination in the midlands region and wider catchment area. We believe that’s central to its appeal not only for H&M but for other big Irish and international brands including Sports Direct, River Island, Zara, M&S, NEXT, TK Maxx and Eason.”","type":"text"},{"_id":"NLQLLU3B3JELFOL5IJKTC3SBII","additional_properties":{"_id":1732524729591},"content":"According to Bannon, the experience at Athlone Towncentre is reflective of how the market is moving currently, in that well-managed, performing assets continue to track ahead of sales in comparison with past years.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"The Swedish fashion giant is expanding its retail presence in the midlands town"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"H&M opens new, bigger Athlone Towncentre store in 10-year deal","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"UVG3TCVVY5HYZB36OAAD63PUSY","auth":{"1":"c819a9424181c1f1abada5eaae7cd5a5d6c8018af11f4796d3af4bd479ce83b6"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/UVG3TCVVY5HYZB36OAAD63PUSY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"IIM6OIUWRNEQ7J4UZO3KHV4TVI","additional_properties":{"audio_duration":288,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/f30075c0-410c-431f-8ca5-308e21532799/versions/1731325085/media/a0ab4858556f5c9794153bb0b4b0581d_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/dublins-office-market-recovery-may-mean-lower-rents/","content_elements":[{"_id":"EG3BYEUXDRDHTFOWG26FWOLENA","additional_properties":{"_id":1731322241994},"content":"Every journey starts with a single step, and Dublin’s office market has taken an important step towards stability in recent months. Following a sluggish 2023, take-up plummeted to just 16,300sq m in the first quarter – the lowest “peacetime” figure in a decade.","type":"text"},{"_id":"2IVWG2ZJ7RCRFH67I3B5EHJEIE","additional_properties":{"_id":1731322241996},"content":"However, things have improved considerably since then, with 134,000sq m of business space taken-up in quarters two and three. This is 36 per cent above the 10-year spring-summer average and, with the fourth quarter usually benefiting from seasonality, full-year take-up of 200,000sq m now seems realistic.","type":"text"},{"_id":"CVLWH4TI5VB7FKBW35NN2ZJCCM","additional_properties":{"_id":1731322241997},"content":"These green shoots have generated considerable optimism, and agents can point to legitimate positives. Tech leasing, which once represented more than half of the market, has not recovered from the 2022 “tech wreck”. However, advances in artificial intelligence (AI) are generating a new wave of job opportunities, and tech employment in Dublin has rebounded by 11.3 per cent in the past six months, according to figures from the Central Statistics Office (CSO). This has not yet affected office lettings – the tech share of take-up actually reached a record low of 7.1 per cent in the third quarter. But logic suggests it should support business space demand in the longer run. In addition, there is reassuring evidence that those sectors that traditionally underpinned the market before Dublin became a global tech hub remain relevant. Together, public sector, financial and professional services organisations took nearly 52,000sq m of space in the first three quarters, a reminder that the city’s underlying demand base is well diversified.","type":"text"},{"_id":"M44PW22ABZECRHNIGJI357YA6Q","additional_properties":{"_id":1731322241998},"content":"Nonetheless, significant headwinds remain. <a href=\"https://www.irishtimes.com/tags/remote-working/\" target=\"_blank\">Remote </a>and <a href=\"https://www.irishtimes.com/tags/hybrid-working/\" target=\"_blank\">hybrid </a>working have negatively affected the market in two ways. Firstly, with their staff partially stationed at home, new tenants are taking smaller quantities of office space per employee. Traditionally, the standard occupational density was 10sq m per person. However, the market’s latest high-profile letting illustrates how this ratio has dropped. From the reported details, <a href=\"https://www.irishtimes.com/business/2024/10/28/deloitte-signs-lease-for-new-irish-head-office-at-1-adelaide-road/\" target=\"_blank\">Deloitte</a> appears to be planning for less than 6sq m per employee at its new offices on Adelaide Road.","type":"text"},{"_id":"JBYDHIO2FRCSZGYWWEG2F4MBV4","additional_properties":{"_id":1731322241999},"content":"The second consequence of remote working is that it left existing tenants with surplus accommodation, which they are now offloading. When it gets relet, this tenant-offered “grey space” is counted in take-up. Critically, however, it does not add to overall occupancy; this space was occupied before being sublet, and it remains so afterwards, with only the rent-payer’s identity changing.","type":"text"},{"_id":"CO3FAURQR5A67LZYGLLYLEP3YM","additional_properties":{"_id":"FGGMWYMPRJCR7BENHFC4DNILPM"},"subtype":"pullquote","type":"quote"},{"_id":"VI7HCSP6FREWBOXAHRPWN7JWVE","additional_properties":{"_id":1731322242000},"content":"Hopes that the drag on demand from remote working would be resolved by a strengthening return-to-the-office dynamic appear to be fading. CSO figures show that the proportion of employees working remotely, and the number of days they are spending at home, have both now stabilised at well above pre-Covid levels.","type":"text"},{"_id":"IYTYWH4FRBFHVKBQPWJSZ54RGM","additional_properties":{"_id":1731322242001},"content":"Office vacancy has risen from 5 per cent to almost 16 per cent over the past five years, leaving Dublin with one of Europe’s highest office vacancy rates. Ideally, rising vacancy should have led to an earlier curtailment of supply, but a significant quantity of new space remains in the pipeline for delivery in the third quarter and into 2025. The recent pick-up in leasing is a necessary first step in digesting this. But with grey space impacting the conversion rate between take-up and increased occupancy, vacancy will continue rising in the short term.","type":"text"},{"_id":"4SZP4BNE35ECVCZRQZV3E64SW4","additional_properties":{"_id":1731322242002},"content":"With tenants favouring low-carbon offices, vacancy will eventually concentrate in older properties. Some argue this provides protection for prime rents. But the reality is that vacancy at the bottom of the market will eventually drag on rents at every level through an indirect process. Owners of vacant older blocks will have to cut rents to get their buildings occupied; this will cause owners with slightly better buildings ahead of them to counter-cut. In turn, this will put pressure on owners of buildings that are slightly better again to cut their asking rents, and so market forces will eventually be passed up the chain.","type":"text"},{"_id":"5B3E2NXKRVA2VMW4UVECRG34LI","additional_properties":{"_id":1731322242003},"content":"<i>Dr John McCartney is director of research at BNP Paribas and adjunct associate professor at UCD</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"John McCartney is director & head of research with BNP Paribas Real Estate Ireland"}]},"description":{"basic":"Demand for office space is rising again. But, with businesses downsizing, and vacancy rates remaining among Europe’s highest, owners of older blocks will have to start cutting asking rents"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Dublin’s office market recovery may mean lower rents","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"IYLKIIFRIVBFZFJAGG7TBC2DMU","auth":{"1":"9ed7c220b1e1871f8f74ee2bbedf186b7b8c3ad9e03f515af551d3390a7cecfd"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/IYLKIIFRIVBFZFJAGG7TBC2DMU.jpg"}},"subtype":"feature","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/13/dublins-office-market-recovery-may-mean-lower-rents/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"ZUTBJUI25NBT7O4NLM3TGFWYHU","additional_properties":{"audio_duration":111,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/b7dfd3b6-8b35-4360-b379-3b75702e20a0/versions/1731940765/media/b951713d48e4e211ae841e27915a8129_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/20/ballymount-letting-with-corporate-branding-opportunity/","content_elements":[{"_id":"JXEPZZLCY5ETDE7FHXGBDPIO2E","additional_properties":{"_id":1731923736099},"content":"A detached warehouse and office facility, located in a prime position close to Dublin’s M50, has come to the letting market quoting an annual rent of €250,000 (exclusive).","type":"text"},{"_id":"CCXW2FUJURC37CANIJ5REVAZYI","additional_properties":{"_id":1731931033533},"content":"C1 & C2 Ballymount Cross Industrial Estate, in Dublin 12, comprise 2,139sq m (23,024sq ft) across a detached warehouse and office facility.","type":"text"},{"_id":"WJW7FRGB6RAQLHFPFGFCSNUGSA","additional_properties":{"_id":1731923736101},"content":"Located in a prime position with excellent profile to the M50, it offers “a fantastic corporate branding opportunity to an incoming occupier”, letting agent Harvey says.","type":"text"},{"_id":"EIAHWWRASVHIVDKPHAYOZHVUIU","additional_properties":{"_id":1731923736102},"content":"The property benefits from loading access via three full-height automated doors, 5.5m clear internal height, a forecourt/marshalling area to the front and car parking to the rear, as well as two-storey offices and staff facilities.","type":"text"},{"_id":"UZOTUK4A7FC6ZCSIV7QNZZOPTA","additional_properties":{"_id":1731923736103},"content":"Ballymount Cross Industrial Estate is located just off Ballymount Road upper, and is equidistant from junctions nine and 10 of the M50. It provides access to all main arterial routes to and from Dublin city, and neighbouring occupiers include Noyeks, MSS, McCulla Ireland and Furlong Flooring.","type":"text"},{"_id":"MM5R67XAAZHXRB4PEN5KYDOQDA","additional_properties":{"_id":1731923736104},"content":"Hugh Herity, of letting agent Harvey said: “C1 & C2 Ballymount Cross offers unrivalled profile to the M50 in a strategic location. We expect the building will be of interest to a wide range of occupiers, due to its rare profile and the scarcity of units of this size available in the market”.","type":"text"},{"_id":"LMY6UXVOFRATVLR7NHUH5E6L4U","additional_properties":{"_id":1731923736105},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Interest likely to be strong given scarcity of units of this size available"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Ballymount letting with corporate branding opportunity","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"ZY4GUOY6S5GCTBZTT5BA5J4JI4","auth":{"1":"74f75668f3959da121e21328cc61f043155e55c65ea130c92cbcadd51b7d1433"},"focal_point":{"x":1064,"y":649},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/ZY4GUOY6S5GCTBZTT5BA5J4JI4.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/20/ballymount-letting-with-corporate-branding-opportunity/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"3RQHE2F7AZC33FULUAAOBVHXPY","additional_properties":{"audio_duration":208,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/84bc4f53-cf6f-49dc-beaf-3b8d7fca82e1/versions/1732022817/media/6f59b1b7aca7c29077fe8d5417f630a3_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/20/housing-crisis-its-not-just-how-many-homes-we-need-but-what-kind-we-build/","content_elements":[{"_id":"2EPIIDLDDZDNNOILWVUIDX3DIM","additional_properties":{"_id":1732020396158},"content":"","type":"text"},{"_id":"LC6OYAW4SJALLBMZMTVRZSN5MY","additional_properties":{"_id":1732020396159},"content":"The debate over the exact number of <a href=\"https://www.irishtimes.com/ireland/housing-planning/\" target=\"_blank\">housing</a> units that are required to bridge the gap between demand and supply must rapidly move to how to fast-track the delivery of more homes, not just more <a href=\"https://www.irishtimes.com/tags/housing-crisis/\" target=\"_blank\">affordable homes</a>, but more product for private purchase and private rental.","type":"text"},{"_id":"DZ7CZBX2XRG25HJ2CXLPE4HUKU","additional_properties":{"_id":1732020396160},"content":"The housing requirement gap is anywhere from 50,500 to 61,000 a year out to 2030 and beyond, or a total of 303,000 to 366,000 over the six-year period of 2024-2030. Current data indicates that total completions will not come anywhere near 50,500, with the now “older” target of 33,000 units unlikely to be achieved. The deficit from 2024 must then be added to the requirement in 2025 and so on.","type":"text"},{"_id":"GZ5KWXXWLBFU5FVVU3GPXDSGII","additional_properties":{"_id":1732020396161},"content":"Type of housing","type":"header"},{"_id":"EZVXWCPDOBGJ3LBDEY52CGUHCI","additional_properties":{"_id":1732020396162},"content":"Equally important is determining what type of housing units are required. Not everyone is a <a href=\"https://www.irishtimes.com/tags/first-time-buyer/\" target=\"_blank\">first-time buyer</a>, not everyone wants to <a href=\"https://www.irishtimes.com/tags/renting/\" target=\"_blank\">rent</a>, not everyone wants to <a href=\"https://www.irishtimes.com/tags/mortgages/\" target=\"_blank\">buy</a>.","type":"text"},{"_id":"XKNUZOYY2JEUTHM4CXQVTAEWXE","additional_properties":{"_id":1732020396163},"content":"This is where a key challenge lies for next government, planners and all industry participants; to build to cater for the type of housing that is required across all categories and in the relevant locations.","type":"text"},{"_id":"XKNUZOYY2JEUTHM4CXQVTAEWXE","additional_properties":{"_id":1732020396164},"content":"Our analysis breaks down the housing requirement by buyer/renter category, with indicative age groups. It suggests with regards to <a href=\"https://www.irishtimes.com/tags/student-accommodation/\" target=\"_blank\">student accommodation</a>, for example, that almost 3,900 units will be required a year; about 8,500 for renters/first-time buyers; more than 23,000 family homes; some 9,500 units for downsizers; and about 10,000 a year for those aged 75-plus in senior living developments.","type":"text"},{"_id":"IRVSAC7VF5GMHLHK6ZBAL3BFAA","additional_properties":{"_id":"HLNGAWTJEJCCLEJFTVLNIRFXCU"},"content":"The Irish Times view on State spending on housing: vital to get results","type":"interstitial_link"},{"_id":"R3PXFP453NEKHIW44MMNIK52XE","additional_properties":{"_id":1732020396165},"content":"Planning approach","type":"header"},{"_id":"XLD6IPQZ7BCSVNMT4ULGPQZ4VM","additional_properties":{"_id":1732020396166},"content":"The current draft National Planning Framework (NPF) indicates clear potential to make this happen, with a focus on development within existing urban areas, while at the same time states that planning policies and standards need to be flexible.","type":"text"},{"_id":"N4G7MD3IDVA3XNDDPRK46AMSBY","additional_properties":{"_id":1732020396167},"content":"The draft revisions to the NPF, if implemented, set out to encourage more people, jobs and activity generally within existing urban areas, rather than mainly “greenfield” development and will require a change in outlook. It also allows for flexibility in terms of planning.","type":"text"},{"_id":"7XOILQP74HDIYGT7AGBSPESMMY","additional_properties":{"_id":"FOLARBXSG5ANLBKCZQVFUICNYU"},"type":"image"},{"_id":"D4H2BO64FZCCPFAFOKENBRL64U","additional_properties":{"_id":1732020396168},"content":"“In particular, general restrictions on building height or universal standards for car parking, separation distances or garden size may not be applicable in all circumstances in urban areas and should be replaced by performance-based criteria appropriate to general location … A more dynamic performance-based approach appropriate to location will also enable the level of public transport service to improve as more development occurs and vice versa.”","type":"text"},{"_id":"FXEVZYYWWZFHVOWGITSY5G7SVU","additional_properties":{"_id":1732020396169},"content":"The target, albeit too low, has been set, with any revisions by other governing parties, expected to be on the upside.","type":"text"},{"_id":"Z7S7EY2IVBAVLDE2S7YJJXX3A4","additional_properties":{"_id":1732020396170},"content":"The current draft NPF, or indeed any revisions to that in the case of a change in government, needs to embrace change rapidly, allow more flexibility in planning and allow for the rapid zoning of land for housing development across all the required categories of housing.","type":"text"},{"_id":"IK5OLBTF6RAERAKMHMLRVO53OE","additional_properties":{},"content":"<i>Joan Henry is chief economist and director of research at Knight Frank.</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"Joan Henry, Chief Economist & Director of Research, Knight Frank Ireland"}]},"description":{"basic":"Not everyone is a first-time buyer, not everyone wants to rent and not everyone wants to buy. Catering to all will be a key challenge for next government"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Housing crisis: It’s not just how many homes we need, but what kind we build","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"AL7V6K3R2VHJ3NC4MLMII3HNQ4","auth":{"1":"feff8d663d70dc391ab4f75e17a95ee9d86025894c9014722a739d1e7d2ac676"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/AL7V6K3R2VHJ3NC4MLMII3HNQ4.jpg"}},"subtype":"analysis","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/20/housing-crisis-its-not-just-how-many-homes-we-need-but-what-kind-we-build/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"CRCY3KCYERBFBBO3JIBLGQVQUA","additional_properties":{"audio_duration":145,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/694b3ea8-b72d-4f88-a8fb-69a1a8b22e95/versions/1731934980/media/40c1419cfcc8be42d8ba65bf5b53112d_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/20/prime-retail-and-office-opportunity-on-st-stephens-green/","content_elements":[{"_id":"BZHQ5IPCDVDMZBGSPBKHQKZQKI","additional_properties":{"_id":1731923534968},"content":"A landmark St Stephen’s Green property, which is likely to appeal to retail and office investors, has come to the market for sale with a guide price of €2.5 million.","type":"text"},{"_id":"7OANUV3CIJBIHPNJVJHROOALGM","additional_properties":{"_id":1731923534969},"content":"No 2, St Stephen’s Green, formerly home to a branch of Permanent TSB, offers a rare opportunity to acquire a high-profile retail and office building in one of Dublin’s most sought-after locations, overlooking St Stephen’s Green, according to selling agent Lisney. Its prime location offers high visibility and footfall, which means it’s likely to appeal to both retail and office investors as well as owner occupiers.","type":"text"},{"_id":"I6CASFIQG5E6RNHSRWWCCC2AXM","additional_properties":{"_id":1731923534970},"content":"The property, which is being sold with full vacant possession, comprises about 3,565sq ft net internal area (NIA), with a generous open-plan ground floor area of 1,901sq ft NIA.","type":"text"},{"_id":"6PC72I7JEFH6HHDLZZYIUN3QBI","additional_properties":{"_id":1731923534971},"content":"The property is zoned Z5 City Centre in the Dublin City Development Plan 2022-2028. This zoning encourages mixed-use development, adding potential for a variety of uses, subject to planning.","type":"text"},{"_id":"7OANUV3CIJBIHPNJVJHROOALGM","additional_properties":{"_id":1731923534972},"content":"The property is on the northern side of St Stephen’s Green, close to Grafton Street and South King Street, two of Dublin’s premier shopping streets, home to renowned international brands such as Massimo Dutti, Canada Goose, Zara, Hugo Boss, Lego, Swatch, and Brown Thomas.","type":"text"},{"_id":"PPOVB7RSXBBBZA4T4JBSNVM3DA","additional_properties":{"_id":1731923534973},"content":"The proposed sale of No 2 comes after the recent sale of adjacent properties, which were brought to market by Savills last year. It is understood that this portfolio recently went sale agreed, and the launch of No 2 might also appeal to the new owners.","type":"text"},{"_id":"X3ZIO4OHFZD4ZNJDUI2CMDOBQY","additional_properties":{"_id":1731923534974},"content":"The St. Stephen’s Green Collection, which had an asking price of €13.5 million, incorporated Numbers 1, 3 and 5 St Stephen’s Green, as well as a separate mews building.","type":"text"},{"_id":"J6KZRPYHE5HRBPE4ESLD4JHTME","additional_properties":{"_id":1731923534975},"content":"The properties were sold by Aviva’s Irish Commercial Property Fund, and included a former outlet of Oasis, as well as a property let to UK fashion retailer Reiss.","type":"text"},{"_id":"PPOVB7RSXBBBZA4T4JBSNVM3DA","additional_properties":{"_id":1731923534973},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Plenty of potential on key shopping street for €2.5m"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Prime retail and office opportunity on St Stephen’s Green","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"SQ22SLHT2FH3PFU7XVAYRXB5KU","auth":{"1":"beb345339dc00697f4ca9695c804e3b925a3a1177d5bd1961a9a75f5ffbe0f6e"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/SQ22SLHT2FH3PFU7XVAYRXB5KU.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/20/prime-retail-and-office-opportunity-on-st-stephens-green/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"RSXWTPHLAVB7LKYXE5YJTKCWHE","additional_properties":{"audio_duration":136,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/e40a3fe5-acd6-4a92-af7e-d166207b34d4/versions/1731328591/media/0b11f6fc35699d7160ac6ba5d904bb22_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/meath-land-bank-offers-potential-for-development/","content_elements":[{"_id":"OQN7H7ULD5DFZPYQ66HH46VZUQ","additional_properties":{"_id":1731072481239},"content":"An interesting development opportunity near Navan, Co <a href=\"https://www.irishtimes.com/tags/meath/\" target=\"_blank\">Meath</a> is being brought to the market by Coonan Property.","type":"text"},{"_id":"4WBWI3OHWJB6VMIOTNN7DTSCLA","additional_properties":{"_id":1731072481241},"content":"On offer is a parcel of some 16ha (39.5 acres) and a redbrick cottage that fronts on to the Boyne Road. The asking price is guiding in excess of €1.25m.","type":"text"},{"_id":"TA3PGPUJJFHJVMUTNJAMR2ECYM","additional_properties":{"_id":1731072481242},"content":"The land is currently in agricultural use, set in a mature setting along the river Boyne, with four access points on to Boyne Road.","type":"text"},{"_id":"JDLPQCJ3CNHP5E4EOV6TLCGXPE","additional_properties":{"_id":1731072481243},"content":"The majority of land is zoned within the Meath County Development Plan 2021 -2027, with some 11.2ha (27.68 acres) zoned “High Amenity” to protect and improve areas of high amenity.","type":"text"},{"_id":"ZT4GPKT7OBCNBOXA3VASZ4OOMA","additional_properties":{"_id":1731072481244},"content":"There are three agricultural access points to this part of the land and a separate entrance to the residential section.","type":"text"},{"_id":"O7LPKWVUB5BKFDJBPUF5GKD5SY","additional_properties":{"_id":1731072481245},"content":"The land also borders a new residential development known as Rowley’s Lock.","type":"text"},{"_id":"YW23XRRV7RECPCRAIFND2J6TZY","additional_properties":{"_id":1731072481246},"content":"About 0.7ha (1.73 acres) is zoned for Community Infrastructure – to facilitate opportunities for high technology and major campus style office based employment, within high-quality accessible locations.","type":"text"},{"_id":"W3P3PBQX6VHXPBAS4BHS7WX6AM","additional_properties":{"_id":"MFHYUMOEPBAOZEARFXGG4PB5FU"},"type":"image"},{"_id":"6AWH5NVQ5FF3PFVCGTEJXDU66I","additional_properties":{"_id":1731072481247},"content":"The parcel offers purchasers the opportunity to acquire a characteristic, redbrick residence in need of modernisation within striking distance of Navan town, while holding a number of potential development opportunities subject to planning.","type":"text"},{"_id":"ZPPZOQMAI5H2XD5WNBC5KTTEME","additional_properties":{"_id":1731072481248},"content":"Set behind the residence in a courtyard is a mix of cut-stone buildings made up of a haybarn with lean-to, machinery and storage sheds. The spilt-level four-bedroom residence extends to about 264 sq m. (2,840 sq ft).","type":"text"},{"_id":"FJCQ2BOSGJFQRPFLYV2LSOOBTE","additional_properties":{"_id":1731072481249},"content":"Navan has expanded considerably over the past two decades due to its proximity to Dublin city centre, about 50 km away, and its excellent road infrastructure including the N3 and M3 motorway.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Tim O'Brien"}},"name":"Tim O'Brien"}]},"description":{"basic":"Land near Navan bordering the Boyne includes a four-bed red-brick house"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Meath land bank offers potential for development","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"HSVY26NEKRBZ5MH4DTU37XVXKA","auth":{"1":"82c2de2a8b160693aa6d20abf0b80d5cef543902c71cd50dedcf7fd1f89619cf"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/HSVY26NEKRBZ5MH4DTU37XVXKA.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/13/meath-land-bank-offers-potential-for-development/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"PT6DHCIO55EHFG2A7NO77CUGGQ","additional_properties":{"audio_duration":155,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/2ddade75-d66c-49a4-81e7-5d0b69427877/versions/1730999741/media/889095305d531565c6621512134f9b91_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/option-to-buy-ptsb-branch-in-lucan-village-for-1275m/","content_elements":[{"_id":"O4ALPIRFYJD2VDSV6QOC7W4NII","additional_properties":{"_id":1730995043395},"content":"Strong interest is expected in the sale of a building, currently occupied by Permanent TSB, in Lucan, Co Dublin.","type":"text"},{"_id":"TS7EPEVOV5FWRIYZX5U43RRDQ4","additional_properties":{"_id":1730998431746},"content":"The modern, purpose built, two storey retail bank occupies a high-profile corner position adjoining the weir in the centre of the village.","type":"text"},{"_id":"PHBEOZIDYVAMLD7VXERD3CKH5Q","additional_properties":{"_id":1730999081645},"content":"Extending to about 236.11 sq m, together with seven secure basement car parking spaces, it is being brought to market by Murphy Mulhall at an asking price of €1.275m.","type":"text"},{"_id":"CSQVPKCAPVHRZDIJCGU5BGWI4E","additional_properties":{"_id":1730999081646},"content":"The property is let in its entirety to Permanent TSB (PTSB) on a 35 year full repairing and insuring (FRI) lease from 1996, with an expiry in March 2031. The current passing rent is €120,000 a year.","type":"text"},{"_id":"QUQTBY36HNE2LHDRWXLCFNUYHM","additional_properties":{"_id":1730998431747},"content":"The property comprises a modern banking hall with ancillary offices and rooms at ground floor, with additional ancillary offices/staff facilities and canteen/stores at first floor level. In addition to the basement car parking spaces, there is further parking at lower ground level.","type":"text"},{"_id":"4M4PDUV4ZRHVXNLAW4IHMO65J4","additional_properties":{"_id":1730998431748},"content":"PTSB currently has a network of almost 100 branches across the country. Following the departure of Ulster Bank back in 2023, PTSB agreed to acquire some of its business, including 25 branches.","type":"text"},{"_id":"5YO6DYIJCVHGJNITLXVVCNPD7E","additional_properties":{"_id":1730998431749},"content":"Lucan is a mature suburb in west Dublin, which benefits from a substantial array of local services and amenities including shops, various national and secondary schools, parks etc. It is well serviced by public transport, with various Dublin bus routes serving the locality. Adjoining occupiers to the bank include The Artisan Pantry, Seasons on the Weir, Four Star Pizza, and Coyne Solicitors.","type":"text"},{"_id":"TRSNSWD6NJGE3I5CM334SQNQ4Q","additional_properties":{"_id":1730998431750},"content":"“This property will give purchasers a chance to acquire impressive high-profile retail property in the heart of Lucan village, with the benefit of an excellent secure tenant covenant until March 2031, at a current rent of €120,000 per annum. We expect strong interest from a variety of investor groups and individuals,” says Brian Gaffney, director at Murphy Mulhall.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"More than six years is remaining on the lease in popular west Dublin location"},"display_date":"2024-11-13T05:00:00Z","headlines":{"basic":"Option to buy PTSB branch in Lucan village for €1.275m","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"2WFCOMXPCZBGHLVSHJUK4VGXNQ","auth":{"1":"02b6e5dd0274d51b07649a388815fc57641338e1def65992500ae762fe680a84"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/2WFCOMXPCZBGHLVSHJUK4VGXNQ.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/13/option-to-buy-ptsb-branch-in-lucan-village-for-1275m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}}],"count":10000,"_id":"f80430517e7bec782c1306078ca3b3be5ab6d4612b4b26b52dd878205b06f65b"},"expires":1733285311763,"lastModified":1733285011574},"{\"feedOffset\":0,\"feedSize\":10,\"offset\":0,\"query\":\"(taxonomy.primary_section._id:\\\"/property/commercial-property\\\")\",\"size\":10}":{"data":{"content_elements":[{"_id":"KE2HQIXOSBAFDH3BVATWIKB764","additional_properties":{"audio_duration":183,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/8b8cf235-0f14-4b0f-9a7f-32e0ef1365fe/versions/1732536601/media/a8c48f323482ddd4621ed4b1b74aef05_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/27/a-rated-industrial-facility-in-southwest-dublin-likely-to-appeal-to-occupiers/","content_elements":[{"_id":"XZLPMX3H3NDLTD2QKF3HTLAREM","additional_properties":{"_id":1732534037965},"content":"Strong interest is expected in the letting of a unit at Greenogue Business Park from tenants looking for a best-in-class facility in a prime location. The unit will be available for occupation in the first quarter of 2025.","type":"text"},{"_id":"4HM2IY4AVZHY3P5PNBZUUQL4BU","additional_properties":{"_id":1732535738163},"content":"Launched to the market by US investment fund Kennedy Wilson on a leasehold basis, Unit 502B Greenogue Business Park, Co Dublin, extends to about 22,217sq ft, and includes about 6,351sq ft of three-storey office accommodation. The property is undergoing an extensive refurbishment, a process that will take the Ber to a rating of A2.","type":"text"},{"_id":"DQMX2GBC4JH43LIVK3JMKRLI5U","additional_properties":{"_id":1732535738164},"content":"Kennedy Wilson acquired a portfolio of 12 units across the Greenogue and Aerodrome Business Parks, Co Dublin, for about €39 million in 2022.","type":"text"},{"_id":"NI2Q4GFWEFBATMAMXZXNMNMKGQ","additional_properties":{"_id":1732535738165},"content":"Given the shortage of similar accommodation available to tenants in the Dublin market, especially in the southwest corridor, the joint selling agents, CBRE and Harvey, say the launch of this property is timely and are quoting an annual rent of €306,000/€13.75sq ft.","type":"text"},{"_id":"KKEUWGZHPNFNBMFJFR3G4W3QBI","additional_properties":{"_id":1732534037966},"content":"Greenogue Business Park is one of Dublin’s most prominent industrial and logistics locations, with more than six million square feet of stock. It is in a high-profile location just three minutes from the N7 motorway and within eight minutes of junction 9 on the M50. It is home to market-leading occupiers such as Amazon, Google and Uniphar.","type":"text"},{"_id":"OLYJCVTWNNCBDFJTGEKFG35IYY","additional_properties":{"_id":"DMTSFZZIVZBHDNDOVICGXO4OPM"},"type":"image"},{"_id":"YHPXR5KFPFETPOLO66FXTJSN6Q","additional_properties":{"_id":1732534037967},"content":"The warehouse specification comprises a metal deck roof with photovoltaic roof panels, LED lighting, a 12.5m clear internal height and sealed concrete floors.","type":"text"},{"_id":"UDC7A5F5YNDPTLBAVQSF5DIUNA","additional_properties":{"_id":1732720281212},"content":"The office accommodation is undergoing a high-quality refurbishment to include a feature reception, new air conditioning system, new suspended ceilings with LED lighting, freshly painted and plastered walls, staff kitchenette facilities, new fire alarm, new access control and intercom infrastructure along with new floor coverings throughout.","type":"text"},{"_id":"QVY66ZBIUFHFZEMNJIL45FPSJM","additional_properties":{"_id":1732534037970},"content":"According to the joint agents: “This is a fantastic example of retrofitting an existing unit to attain improved sustainability credentials and meet the requirements of current occupiers. Following the retrofit, this unit will appeal to tenants looking for best-in-class space that can be delivered in the short term. As we know, there is an ongoing shortage of quality industrial and logistics stock along the southwest corridor. This, coupled with a 2.5 per cent vacancy rate and the high specification of Unit 502B, should result in strong demand from occupiers.”","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Shortage of quality stock is likely to spur interest in unit at Greeogue Business Park following refurbishment by Kennedy Wilson"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"A-rated industrial facility in southwest Dublin likely to appeal to occupiers","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"UK2NRAYMKNATDGBSP7BPPQKXSY","auth":{"1":"3c261229758afe305838ee2a78365ca4fae32d6901aad2f0ec7c5cf0f93475f8"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/UK2NRAYMKNATDGBSP7BPPQKXSY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/a-rated-industrial-facility-in-southwest-dublin-likely-to-appeal-to-occupiers/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"4GTQ4X2GSNEJBIPE5AUX53QIXY","additional_properties":{"audio_duration":318,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/6f916e90-d11d-4c6d-8b16-590195fc5a83/versions/1732643615/media/bcdcf44870be60efffa68ca76eee4374_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/27/creating-a-sense-of-belonging-makes-a-workplace-effective/","content_elements":[{"_id":"YAFPCUHDUBDYVMO5LJOLHZ5NZQ","additional_properties":{"_id":1732115081306},"content":"As the global workplace landscape continues to evolve, how do we measure success? Addressing this, the 2024-25 CBRE Global Workplace and Occupancy Insights report presents a compelling narrative about the progressive metrics of workplace success.","type":"text"},{"_id":"BJZF5J7IHREH3LNMNEHP5YOCKU","additional_properties":{"_id":1732613737492},"content":"Traditionally, organisations have measured workplace effectiveness through efficiency, often focusing on maximising office utilisation rates (office attendance divided by office capacity). The EMEA average office utilisation sits at 39 per cent, with a peak of 68 per cent. However, the rise of hybrid working models requires employers to take a more nuanced approach to understand office efficiency. A medium-sized Dublin occupier that we have surveyed is experiencing between 51-63 per cent utilisation Monday through to Thursday.","type":"text"},{"_id":"U654RXX475CALLBOFJOBY4GVDA","additional_properties":{"_id":1732791896064},"content":"While many occupiers would assume that Monday provides the lowest attendance, it is one of the highest throughout the week, due to implementation of in-person upskilling sessions and leadership role-modelling. Friday occupancy is averaging at 28 per cent, which is common across occupiers in the city and wider region.","type":"text"},{"_id":"YCEWGMX3CRAP3O3X7SVY7W6QHU","additional_properties":{"_id":1732613737493},"content":"One of the most noticeable insights from the report is the disparity between target utilisation and actual office attendance. Occupiers continue to set ambitious goals for office occupancy, but the reality is that many employees continue to opt for flexible work arrangements, resulting in lower attendance rates. This discrepancy reiterates the need for employers to rethink their approach to workplace metrics and consider not just how much space is used, but how effectively it supports employee needs and business objectives.","type":"text"},{"_id":"SXUCZA76NZBSHA44RYOB7734AQ","additional_properties":{"_id":"P6EIFZHX6BG2JCIML2FQZH4ZSY"},"subtype":"pullquote","type":"quote"},{"_id":"4JEU7X5XFVBPXIP5PX6ROWKQLQ","additional_properties":{"_id":1732613737494},"content":"Almost three-quarters (73 per cent) of occupiers believe their workplace is effective, but only 46 per cent are actively measuring effectiveness. Moreover, the metrics used for this measure are under question.","type":"text"},{"_id":"EMSQXTQJDBGHZP7IFIID43DIIY","additional_properties":{"_id":1732613737495},"content":"The report emphasises the importance of employee sentiment and retention rates as vital metrics for measuring workplace effectiveness. Organisations are increasingly aware that happy, engaged employees are more productive and committed to their work. As such, understanding employee satisfaction is no longer an afterthought: it is central to crafting effective workplace strategies.","type":"text"},{"_id":"3F6CLTQHZJH2HGCOM54BBXTI5A","additional_properties":{"_id":1732613737496},"content":"Companies that prioritise employee wellbeing not only enhance retention, but also cultivate high employee morale.","type":"text"},{"_id":"ZDNSM75MNNDF7FEX5EOOQZWM64","additional_properties":{"_id":1732613737497},"content":"In the Dublin office market, the prevalence of Grade A+ category space involved in the top five largest deals, and nearly 60 per cent of space taken altogether in the third quarter of 2024, supports the notion that occupiers will continue to migrate into the best offices in the best locations in the city. Whilst this lowers the high vacancy rate in this cohort, older buildings in non-core locations could be left “stranded”.","type":"text"},{"_id":"A6FPL6HEHJGTHNIFHMHXT5QAUE","additional_properties":{"_id":1732613737498},"content":"Grade A+ spaces may include prime location, modern design, sustainable features often accredited with the likes of sustainability metrics like LEED, BREEAM and WELL. Building amenities such as gyms, retail offerings and social spaces are increasingly valued, and smart buildings with high-speed internet, HVAC systems and advanced technology all contribute to the office as a destination – creating a magnetising space rather than mandating attendance.","type":"text"},{"_id":"WPYPCSWRRZAFHFSBUAL5KK3OBY","additional_properties":{"_id":"4TKF3EUWHNETDFHXTYZWF2JWT4"},"subtype":"pullquote","type":"quote"},{"_id":"KH2DLZAJBBDSNBZNX56CK5MW74","additional_properties":{"_id":1732613737499},"content":"Ultimately, the aim remains that of creating highly populated, thriving workplaces to support organisations achieving ambitious goals.","type":"text"},{"_id":"NXF7BE25OBFHHMFT6K432GOQBE","additional_properties":{"_id":1732613737500},"content":"Aligning corporate real estate targets, with workplace policies, is another essential takeaway from the report. Almost all (96 per cent) organisations surveyed have a definitive workplace policy in place. In Ireland, about 85 per cent of organisations have a workplace policy, and only 60 per cent with allocated days per week. To create a truly effective workplace, organisations must ensure that their spatial strategies reflect their broader business objectives.","type":"text"},{"_id":"QEH76TO73ZFXDMPXGJ55SRW5CA","additional_properties":{"_id":1732791896075},"content":"This alignment fosters an environment that supports both operational efficiency and employee satisfaction. Whilst retaining flexibility remains to be seen as an important and valuable part of an employer value proposition, organisations should be intentional in defining and communicating their workplace vision long-term, to remain an attractive employer in a competitive Dublin job market.","type":"text"},{"_id":"TH7EKALDUFCJ3E2OY6AMYFFLI4","additional_properties":{"_id":1732613737501},"content":"As companies shift their focus from mere efficiency to a more holistic understanding of effectiveness, they must embrace hybrid work models, prioritise employee satisfaction, and strategically leverage technology. The future of work is not just about how much space is occupied, but about creating environments that foster collaboration, innovation, and a sense of belonging.","type":"text"},{"_id":"3BZZXAYS7JEZRMNQZJWHBDAAHE","additional_properties":{"_id":1732115081311},"content":"<i>Melanie Bevan is strategy and change manager at CBRE</i>","type":"text"},{"_id":"VHO5IZVKKVA4HNYP6WAKCMUEWU","additional_properties":{"_id":1732115081312},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"Melanie Bevan"}]},"description":{"basic":"Successful workplaces are not just about how much space is occupied: it’s also about creating environments that foster collaboration, innovation, and a sense of belonging"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"Creating a sense of belonging makes a workplace effective","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"TRSOLHHHEBHI5CH7KBAGJJCWUY","auth":{"1":"a2d4341b4800ea7cb0c75ad9c3b25d084c66093c3351c2f285085bb9ef1edf93"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/TRSOLHHHEBHI5CH7KBAGJJCWUY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/creating-a-sense-of-belonging-makes-a-workplace-effective/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"EZYKVGLFMRB2ZOCMH2RHQKRMOI","additional_properties":{"audio_duration":138,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/4b1d662c-312d-4288-aa88-27253637a086/versions/1732628128/media/084855e574b7c4ed4e68ee032674fba6_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1732616656419},"content":"German investor <a href=\"https://www.irishtimes.com/tags/dws/\" target=\"_blank\">DWS </a>has paid €97.5 million for the 207-unit Hayfield apartment project in <a href=\"https://www.irishtimes.com/tags/killiney\" target=\"_blank\">Killiney</a>, in an off-market transaction. It is one of the largest private rented sector deals of the year.","type":"text"},{"_id":"SW74NL6MWZBDDKX3SARHTKV7I4","additional_properties":{"_id":1732623592768},"content":"DWS, which is understood to be also close to completing the sale of its Point Campus student development to US investor <a href=\"https://www.irishtimes.com/tags/greystar/\" target=\"_blank\">Greystar</a>, agreed to purchase the Killiney apartments in a forward purchase deal with Park Developments on behalf of two of its German institutional real estate funds.","type":"text"},{"_id":"D4K5MCIN3NG73LH5ZTLQXAVBJM","additional_properties":{"_id":1732623592769},"content":"DWS, a subsidiary of Deutsche Bank, paid about €471,014 per unit at Hayfield, which is west of Killiney Hill and next to Killiney Shopping Centre, opposite the Graduate pub. Properties at the just launched development are available to rent from €2,150 a month.","type":"text"},{"_id":"FDE4Y4U2OBHUJEY5IWP56KFIKU","additional_properties":{"_id":1732667557504},"content":"The development features an on-site concierge, reception and resident app, along with communal break out areas, office pods and gym, and is well served by transport links, as well as strong amenities including golf courses, a nearby village and schools.","type":"text"},{"_id":"6NVULV6V7JEUBAOZLYNVPYYQ3E","additional_properties":{"_id":1732623592770},"content":"Adam Johnson, the head of real estate asset management UK at DWS said: “Demand for high quality, professionally managed schemes is proving increasingly attractive due to changing lifestyle choices and an undersupply of rental options.”","type":"text"},{"_id":"BQJ74ADQZZGT3NTTLOMLGZQPT4","additional_properties":{"_id":1732623592772},"content":"Meanwhile, the sale of the landmark North Dock office scheme, beside Dublin’s 3Arena, has closed for a sum understood to be about €85 million – far below the asking price. The scheme, which was developed by Targeted Investment Opportunities (TIO), an umbrella fund involving Nama, Oaktree Capital and Bennett Construction, extends to some 18,766sq m (202,000sq ft) across North Dock One and North Dock Two.","type":"text"},{"_id":"4YG5SMWCRJGYZKLM7YAA63YNCQ","additional_properties":{"_id":1732623592773},"content":"The property was put on the market for about €130 million earlier this year, on behalf of the receiver, Interpath Advisory, which was appointed by US investment giant Pimco, who provided funding to the project. CBRE handled the sale.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"DWS’s deal at Hayfield is one of the year’s biggest"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"German investor pays €97.5m for 207 south Dublin apartments","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"ELRKPETWVRFCVJZLKJP6DJNPJA","auth":{"1":"85093853c463f2028acc6320e12b0eaf92f6db0dcaaa884164776216d3b2a70a"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/ELRKPETWVRFCVJZLKJP6DJNPJA.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"RS3TOLRN65EL3DDCFXNTM2XVNY","additional_properties":{"audio_duration":146,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/263f0507-3ebc-446f-a559-25290adfd8b1/versions/1732532006/media/d4cfe68d6ec85cf4fd357075074817a9_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1732523627119},"content":"Midlands shoppers will get an early <a href=\"https://www.irishtimes.com/tags/black-friday/\" target=\"_blank\">Black Friday</a> boost today when <a href=\"https://www.irishtimes.com/tags/sweden/\" target=\"_blank\">Swedish</a> <a href=\"https://www.irishtimes.com/life-style/fashion/\" target=\"_blank\">fashion</a> giant <a href=\"https://www.irishtimes.com/tags/h-m/\" target=\"_blank\">H&M</a> opens a new, bigger store in <a href=\"https://www.irishtimes.com/tags/athlone-towncentre/\" target=\"_blank\">Athlone Towncentre</a>.","type":"text"},{"_id":"3LTLO5FFOBBKPLERQFJFURV5WQ","additional_properties":{"_id":1732524729587},"content":"The retailer, which also owns brands including & Other Stories and Cos, has steadily being building up its Irish presence of late. Earlier this year it became the first retailer to move into the new <a href=\"https://www.irishtimes.com/ireland/dublin/2024/03/15/first-look-at-clerys-quarter-a-glimpse-inside-one-of-dublins-best-known-shops-for-the-first-time-in-nine-years/\" target=\"_blank\">Clerys Quarter</a>, while its more upmarket offering, Arket, is expected to open on Dublin’s Dawson Street early next year.","type":"text"},{"_id":"UZBPIC6C7VHR5P6X7KPB63OJ74","additional_properties":{"_id":1732524729588},"content":"In Athlone, H&M has signed a 10-year lease for its new store, which is an amalgamation of two units at ground-floor and first-floor levels. It will increase the retailer’s store size from 1,104sq m (11,887sq ft) to 1,411sq m (15,192sq ft), after an investment of some €3 million in store re-fit. The letting agents are Bannon and Cushman & Wakefield.","type":"text"},{"_id":"POR2IN5ORRH55NUICNC3YGCFPQ","additional_properties":{"_id":1732524729589},"content":"The shopping centre, which opened in 2007 and is the largest such outlet in the midlands, now has 98 per cent occupancy. It has seen a flurry of activity of late, with the arrival of a new anchor tenant Sports Direct, as well as big new brands including Rituals, an expanded Pamela Scott store and new Irish brands Echo Hair and Nails, Koo Koo and the recently opened Nana’s Tea.","type":"text"},{"_id":"UOP6CBTXLJEUFJHCCZ72RPEUCA","additional_properties":{"_id":1732524729590},"content":"Jennifer Mulholland, director at Bannon, said: “With this latest announcement, Athlone Towncentre is delivering on our long-term ambition for the scheme – namely, to become the leading shopping-centre destination in the midlands region and wider catchment area. We believe that’s central to its appeal not only for H&M but for other big Irish and international brands including Sports Direct, River Island, Zara, M&S, NEXT, TK Maxx and Eason.”","type":"text"},{"_id":"NLQLLU3B3JELFOL5IJKTC3SBII","additional_properties":{"_id":1732524729591},"content":"According to Bannon, the experience at Athlone Towncentre is reflective of how the market is moving currently, in that well-managed, performing assets continue to track ahead of sales in comparison with past years.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"The Swedish fashion giant is expanding its retail presence in the midlands town"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"H&M opens new, bigger Athlone Towncentre store in 10-year deal","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"UVG3TCVVY5HYZB36OAAD63PUSY","auth":{"1":"c819a9424181c1f1abada5eaae7cd5a5d6c8018af11f4796d3af4bd479ce83b6"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/UVG3TCVVY5HYZB36OAAD63PUSY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"IIM6OIUWRNEQ7J4UZO3KHV4TVI","additional_properties":{"audio_duration":288,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/f30075c0-410c-431f-8ca5-308e21532799/versions/1731325085/media/a0ab4858556f5c9794153bb0b4b0581d_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/dublins-office-market-recovery-may-mean-lower-rents/","content_elements":[{"_id":"EG3BYEUXDRDHTFOWG26FWOLENA","additional_properties":{"_id":1731322241994},"content":"Every journey starts with a single step, and Dublin’s office market has taken an important step towards stability in recent months. Following a sluggish 2023, take-up plummeted to just 16,300sq m in the first quarter – the lowest “peacetime” figure in a decade.","type":"text"},{"_id":"2IVWG2ZJ7RCRFH67I3B5EHJEIE","additional_properties":{"_id":1731322241996},"content":"However, things have improved considerably since then, with 134,000sq m of business space taken-up in quarters two and three. This is 36 per cent above the 10-year spring-summer average and, with the fourth quarter usually benefiting from seasonality, full-year take-up of 200,000sq m now seems realistic.","type":"text"},{"_id":"CVLWH4TI5VB7FKBW35NN2ZJCCM","additional_properties":{"_id":1731322241997},"content":"These green shoots have generated considerable optimism, and agents can point to legitimate positives. Tech leasing, which once represented more than half of the market, has not recovered from the 2022 “tech wreck”. However, advances in artificial intelligence (AI) are generating a new wave of job opportunities, and tech employment in Dublin has rebounded by 11.3 per cent in the past six months, according to figures from the Central Statistics Office (CSO). This has not yet affected office lettings – the tech share of take-up actually reached a record low of 7.1 per cent in the third quarter. But logic suggests it should support business space demand in the longer run. In addition, there is reassuring evidence that those sectors that traditionally underpinned the market before Dublin became a global tech hub remain relevant. Together, public sector, financial and professional services organisations took nearly 52,000sq m of space in the first three quarters, a reminder that the city’s underlying demand base is well diversified.","type":"text"},{"_id":"M44PW22ABZECRHNIGJI357YA6Q","additional_properties":{"_id":1731322241998},"content":"Nonetheless, significant headwinds remain. <a href=\"https://www.irishtimes.com/tags/remote-working/\" target=\"_blank\">Remote </a>and <a href=\"https://www.irishtimes.com/tags/hybrid-working/\" target=\"_blank\">hybrid </a>working have negatively affected the market in two ways. Firstly, with their staff partially stationed at home, new tenants are taking smaller quantities of office space per employee. Traditionally, the standard occupational density was 10sq m per person. However, the market’s latest high-profile letting illustrates how this ratio has dropped. From the reported details, <a href=\"https://www.irishtimes.com/business/2024/10/28/deloitte-signs-lease-for-new-irish-head-office-at-1-adelaide-road/\" target=\"_blank\">Deloitte</a> appears to be planning for less than 6sq m per employee at its new offices on Adelaide Road.","type":"text"},{"_id":"JBYDHIO2FRCSZGYWWEG2F4MBV4","additional_properties":{"_id":1731322241999},"content":"The second consequence of remote working is that it left existing tenants with surplus accommodation, which they are now offloading. When it gets relet, this tenant-offered “grey space” is counted in take-up. Critically, however, it does not add to overall occupancy; this space was occupied before being sublet, and it remains so afterwards, with only the rent-payer’s identity changing.","type":"text"},{"_id":"CO3FAURQR5A67LZYGLLYLEP3YM","additional_properties":{"_id":"FGGMWYMPRJCR7BENHFC4DNILPM"},"subtype":"pullquote","type":"quote"},{"_id":"VI7HCSP6FREWBOXAHRPWN7JWVE","additional_properties":{"_id":1731322242000},"content":"Hopes that the drag on demand from remote working would be resolved by a strengthening return-to-the-office dynamic appear to be fading. CSO figures show that the proportion of employees working remotely, and the number of days they are spending at home, have both now stabilised at well above pre-Covid levels.","type":"text"},{"_id":"IYTYWH4FRBFHVKBQPWJSZ54RGM","additional_properties":{"_id":1731322242001},"content":"Office vacancy has risen from 5 per cent to almost 16 per cent over the past five years, leaving Dublin with one of Europe’s highest office vacancy rates. Ideally, rising vacancy should have led to an earlier curtailment of supply, but a significant quantity of new space remains in the pipeline for delivery in the third quarter and into 2025. The recent pick-up in leasing is a necessary first step in digesting this. But with grey space impacting the conversion rate between take-up and increased occupancy, vacancy will continue rising in the short term.","type":"text"},{"_id":"4SZP4BNE35ECVCZRQZV3E64SW4","additional_properties":{"_id":1731322242002},"content":"With tenants favouring low-carbon offices, vacancy will eventually concentrate in older properties. Some argue this provides protection for prime rents. But the reality is that vacancy at the bottom of the market will eventually drag on rents at every level through an indirect process. Owners of vacant older blocks will have to cut rents to get their buildings occupied; this will cause owners with slightly better buildings ahead of them to counter-cut. In turn, this will put pressure on owners of buildings that are slightly better again to cut their asking rents, and so market forces will eventually be passed up the chain.","type":"text"},{"_id":"5B3E2NXKRVA2VMW4UVECRG34LI","additional_properties":{"_id":1731322242003},"content":"<i>Dr John McCartney is director of research at BNP Paribas and adjunct associate professor at UCD</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"John McCartney is director & head of research with BNP Paribas Real Estate Ireland"}]},"description":{"basic":"Demand for office space is rising again. But, with businesses downsizing, and vacancy rates remaining among Europe’s highest, owners of older blocks will have to start cutting asking rents"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Dublin’s office market recovery may mean lower rents","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"IYLKIIFRIVBFZFJAGG7TBC2DMU","auth":{"1":"9ed7c220b1e1871f8f74ee2bbedf186b7b8c3ad9e03f515af551d3390a7cecfd"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/IYLKIIFRIVBFZFJAGG7TBC2DMU.jpg"}},"subtype":"feature","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/13/dublins-office-market-recovery-may-mean-lower-rents/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"ZUTBJUI25NBT7O4NLM3TGFWYHU","additional_properties":{"audio_duration":111,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/b7dfd3b6-8b35-4360-b379-3b75702e20a0/versions/1731940765/media/b951713d48e4e211ae841e27915a8129_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/20/ballymount-letting-with-corporate-branding-opportunity/","content_elements":[{"_id":"JXEPZZLCY5ETDE7FHXGBDPIO2E","additional_properties":{"_id":1731923736099},"content":"A detached warehouse and office facility, located in a prime position close to Dublin’s M50, has come to the letting market quoting an annual rent of €250,000 (exclusive).","type":"text"},{"_id":"CCXW2FUJURC37CANIJ5REVAZYI","additional_properties":{"_id":1731931033533},"content":"C1 & C2 Ballymount Cross Industrial Estate, in Dublin 12, comprise 2,139sq m (23,024sq ft) across a detached warehouse and office facility.","type":"text"},{"_id":"WJW7FRGB6RAQLHFPFGFCSNUGSA","additional_properties":{"_id":1731923736101},"content":"Located in a prime position with excellent profile to the M50, it offers “a fantastic corporate branding opportunity to an incoming occupier”, letting agent Harvey says.","type":"text"},{"_id":"EIAHWWRASVHIVDKPHAYOZHVUIU","additional_properties":{"_id":1731923736102},"content":"The property benefits from loading access via three full-height automated doors, 5.5m clear internal height, a forecourt/marshalling area to the front and car parking to the rear, as well as two-storey offices and staff facilities.","type":"text"},{"_id":"UZOTUK4A7FC6ZCSIV7QNZZOPTA","additional_properties":{"_id":1731923736103},"content":"Ballymount Cross Industrial Estate is located just off Ballymount Road upper, and is equidistant from junctions nine and 10 of the M50. It provides access to all main arterial routes to and from Dublin city, and neighbouring occupiers include Noyeks, MSS, McCulla Ireland and Furlong Flooring.","type":"text"},{"_id":"MM5R67XAAZHXRB4PEN5KYDOQDA","additional_properties":{"_id":1731923736104},"content":"Hugh Herity, of letting agent Harvey said: “C1 & C2 Ballymount Cross offers unrivalled profile to the M50 in a strategic location. We expect the building will be of interest to a wide range of occupiers, due to its rare profile and the scarcity of units of this size available in the market”.","type":"text"},{"_id":"LMY6UXVOFRATVLR7NHUH5E6L4U","additional_properties":{"_id":1731923736105},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Interest likely to be strong given scarcity of units of this size available"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Ballymount letting with corporate branding opportunity","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"ZY4GUOY6S5GCTBZTT5BA5J4JI4","auth":{"1":"74f75668f3959da121e21328cc61f043155e55c65ea130c92cbcadd51b7d1433"},"focal_point":{"x":1064,"y":649},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/ZY4GUOY6S5GCTBZTT5BA5J4JI4.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/20/ballymount-letting-with-corporate-branding-opportunity/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"3RQHE2F7AZC33FULUAAOBVHXPY","additional_properties":{"audio_duration":208,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/84bc4f53-cf6f-49dc-beaf-3b8d7fca82e1/versions/1732022817/media/6f59b1b7aca7c29077fe8d5417f630a3_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/20/housing-crisis-its-not-just-how-many-homes-we-need-but-what-kind-we-build/","content_elements":[{"_id":"2EPIIDLDDZDNNOILWVUIDX3DIM","additional_properties":{"_id":1732020396158},"content":"","type":"text"},{"_id":"LC6OYAW4SJALLBMZMTVRZSN5MY","additional_properties":{"_id":1732020396159},"content":"The debate over the exact number of <a href=\"https://www.irishtimes.com/ireland/housing-planning/\" target=\"_blank\">housing</a> units that are required to bridge the gap between demand and supply must rapidly move to how to fast-track the delivery of more homes, not just more <a href=\"https://www.irishtimes.com/tags/housing-crisis/\" target=\"_blank\">affordable homes</a>, but more product for private purchase and private rental.","type":"text"},{"_id":"DZ7CZBX2XRG25HJ2CXLPE4HUKU","additional_properties":{"_id":1732020396160},"content":"The housing requirement gap is anywhere from 50,500 to 61,000 a year out to 2030 and beyond, or a total of 303,000 to 366,000 over the six-year period of 2024-2030. Current data indicates that total completions will not come anywhere near 50,500, with the now “older” target of 33,000 units unlikely to be achieved. The deficit from 2024 must then be added to the requirement in 2025 and so on.","type":"text"},{"_id":"GZ5KWXXWLBFU5FVVU3GPXDSGII","additional_properties":{"_id":1732020396161},"content":"Type of housing","type":"header"},{"_id":"EZVXWCPDOBGJ3LBDEY52CGUHCI","additional_properties":{"_id":1732020396162},"content":"Equally important is determining what type of housing units are required. Not everyone is a <a href=\"https://www.irishtimes.com/tags/first-time-buyer/\" target=\"_blank\">first-time buyer</a>, not everyone wants to <a href=\"https://www.irishtimes.com/tags/renting/\" target=\"_blank\">rent</a>, not everyone wants to <a href=\"https://www.irishtimes.com/tags/mortgages/\" target=\"_blank\">buy</a>.","type":"text"},{"_id":"XKNUZOYY2JEUTHM4CXQVTAEWXE","additional_properties":{"_id":1732020396163},"content":"This is where a key challenge lies for next government, planners and all industry participants; to build to cater for the type of housing that is required across all categories and in the relevant locations.","type":"text"},{"_id":"XKNUZOYY2JEUTHM4CXQVTAEWXE","additional_properties":{"_id":1732020396164},"content":"Our analysis breaks down the housing requirement by buyer/renter category, with indicative age groups. It suggests with regards to <a href=\"https://www.irishtimes.com/tags/student-accommodation/\" target=\"_blank\">student accommodation</a>, for example, that almost 3,900 units will be required a year; about 8,500 for renters/first-time buyers; more than 23,000 family homes; some 9,500 units for downsizers; and about 10,000 a year for those aged 75-plus in senior living developments.","type":"text"},{"_id":"IRVSAC7VF5GMHLHK6ZBAL3BFAA","additional_properties":{"_id":"HLNGAWTJEJCCLEJFTVLNIRFXCU"},"content":"The Irish Times view on State spending on housing: vital to get results","type":"interstitial_link"},{"_id":"R3PXFP453NEKHIW44MMNIK52XE","additional_properties":{"_id":1732020396165},"content":"Planning approach","type":"header"},{"_id":"XLD6IPQZ7BCSVNMT4ULGPQZ4VM","additional_properties":{"_id":1732020396166},"content":"The current draft National Planning Framework (NPF) indicates clear potential to make this happen, with a focus on development within existing urban areas, while at the same time states that planning policies and standards need to be flexible.","type":"text"},{"_id":"N4G7MD3IDVA3XNDDPRK46AMSBY","additional_properties":{"_id":1732020396167},"content":"The draft revisions to the NPF, if implemented, set out to encourage more people, jobs and activity generally within existing urban areas, rather than mainly “greenfield” development and will require a change in outlook. It also allows for flexibility in terms of planning.","type":"text"},{"_id":"7XOILQP74HDIYGT7AGBSPESMMY","additional_properties":{"_id":"FOLARBXSG5ANLBKCZQVFUICNYU"},"type":"image"},{"_id":"D4H2BO64FZCCPFAFOKENBRL64U","additional_properties":{"_id":1732020396168},"content":"“In particular, general restrictions on building height or universal standards for car parking, separation distances or garden size may not be applicable in all circumstances in urban areas and should be replaced by performance-based criteria appropriate to general location … A more dynamic performance-based approach appropriate to location will also enable the level of public transport service to improve as more development occurs and vice versa.”","type":"text"},{"_id":"FXEVZYYWWZFHVOWGITSY5G7SVU","additional_properties":{"_id":1732020396169},"content":"The target, albeit too low, has been set, with any revisions by other governing parties, expected to be on the upside.","type":"text"},{"_id":"Z7S7EY2IVBAVLDE2S7YJJXX3A4","additional_properties":{"_id":1732020396170},"content":"The current draft NPF, or indeed any revisions to that in the case of a change in government, needs to embrace change rapidly, allow more flexibility in planning and allow for the rapid zoning of land for housing development across all the required categories of housing.","type":"text"},{"_id":"IK5OLBTF6RAERAKMHMLRVO53OE","additional_properties":{},"content":"<i>Joan Henry is chief economist and director of research at Knight Frank.</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"Joan Henry, Chief Economist & Director of Research, Knight Frank Ireland"}]},"description":{"basic":"Not everyone is a first-time buyer, not everyone wants to rent and not everyone wants to buy. 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Its prime location offers high visibility and footfall, which means it’s likely to appeal to both retail and office investors as well as owner occupiers.","type":"text"},{"_id":"I6CASFIQG5E6RNHSRWWCCC2AXM","additional_properties":{"_id":1731923534970},"content":"The property, which is being sold with full vacant possession, comprises about 3,565sq ft net internal area (NIA), with a generous open-plan ground floor area of 1,901sq ft NIA.","type":"text"},{"_id":"6PC72I7JEFH6HHDLZZYIUN3QBI","additional_properties":{"_id":1731923534971},"content":"The property is zoned Z5 City Centre in the Dublin City Development Plan 2022-2028. This zoning encourages mixed-use development, adding potential for a variety of uses, subject to planning.","type":"text"},{"_id":"7OANUV3CIJBIHPNJVJHROOALGM","additional_properties":{"_id":1731923534972},"content":"The property is on the northern side of St Stephen’s Green, close to Grafton Street and South King Street, two of Dublin’s premier shopping streets, home to renowned international brands such as Massimo Dutti, Canada Goose, Zara, Hugo Boss, Lego, Swatch, and Brown Thomas.","type":"text"},{"_id":"PPOVB7RSXBBBZA4T4JBSNVM3DA","additional_properties":{"_id":1731923534973},"content":"The proposed sale of No 2 comes after the recent sale of adjacent properties, which were brought to market by Savills last year. It is understood that this portfolio recently went sale agreed, and the launch of No 2 might also appeal to the new owners.","type":"text"},{"_id":"X3ZIO4OHFZD4ZNJDUI2CMDOBQY","additional_properties":{"_id":1731923534974},"content":"The St. Stephen’s Green Collection, which had an asking price of €13.5 million, incorporated Numbers 1, 3 and 5 St Stephen’s Green, as well as a separate mews building.","type":"text"},{"_id":"J6KZRPYHE5HRBPE4ESLD4JHTME","additional_properties":{"_id":1731923534975},"content":"The properties were sold by Aviva’s Irish Commercial Property Fund, and included a former outlet of Oasis, as well as a property let to UK fashion retailer Reiss.","type":"text"},{"_id":"PPOVB7RSXBBBZA4T4JBSNVM3DA","additional_properties":{"_id":1731923534973},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Plenty of potential on key shopping street for €2.5m"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Prime retail and office opportunity on St Stephen’s Green","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"SQ22SLHT2FH3PFU7XVAYRXB5KU","auth":{"1":"beb345339dc00697f4ca9695c804e3b925a3a1177d5bd1961a9a75f5ffbe0f6e"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/SQ22SLHT2FH3PFU7XVAYRXB5KU.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/20/prime-retail-and-office-opportunity-on-st-stephens-green/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"RSXWTPHLAVB7LKYXE5YJTKCWHE","additional_properties":{"audio_duration":136,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/e40a3fe5-acd6-4a92-af7e-d166207b34d4/versions/1731328591/media/0b11f6fc35699d7160ac6ba5d904bb22_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/meath-land-bank-offers-potential-for-development/","content_elements":[{"_id":"OQN7H7ULD5DFZPYQ66HH46VZUQ","additional_properties":{"_id":1731072481239},"content":"An interesting development opportunity near Navan, Co <a href=\"https://www.irishtimes.com/tags/meath/\" target=\"_blank\">Meath</a> is being brought to the market by Coonan Property.","type":"text"},{"_id":"4WBWI3OHWJB6VMIOTNN7DTSCLA","additional_properties":{"_id":1731072481241},"content":"On offer is a parcel of some 16ha (39.5 acres) and a redbrick cottage that fronts on to the Boyne Road. 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It is in a high-profile location just three minutes from the N7 motorway and within eight minutes of junction 9 on the M50. 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A medium-sized Dublin occupier that we have surveyed is experiencing between 51-63 per cent utilisation Monday through to Thursday.","type":"text"},{"_id":"U654RXX475CALLBOFJOBY4GVDA","additional_properties":{"_id":1732791896064},"content":"While many occupiers would assume that Monday provides the lowest attendance, it is one of the highest throughout the week, due to implementation of in-person upskilling sessions and leadership role-modelling. Friday occupancy is averaging at 28 per cent, which is common across occupiers in the city and wider region.","type":"text"},{"_id":"YCEWGMX3CRAP3O3X7SVY7W6QHU","additional_properties":{"_id":1732613737493},"content":"One of the most noticeable insights from the report is the disparity between target utilisation and actual office attendance. Occupiers continue to set ambitious goals for office occupancy, but the reality is that many employees continue to opt for flexible work arrangements, resulting in lower attendance rates. This discrepancy reiterates the need for employers to rethink their approach to workplace metrics and consider not just how much space is used, but how effectively it supports employee needs and business objectives.","type":"text"},{"_id":"SXUCZA76NZBSHA44RYOB7734AQ","additional_properties":{"_id":"P6EIFZHX6BG2JCIML2FQZH4ZSY"},"subtype":"pullquote","type":"quote"},{"_id":"4JEU7X5XFVBPXIP5PX6ROWKQLQ","additional_properties":{"_id":1732613737494},"content":"Almost three-quarters (73 per cent) of occupiers believe their workplace is effective, but only 46 per cent are actively measuring effectiveness. Moreover, the metrics used for this measure are under question.","type":"text"},{"_id":"EMSQXTQJDBGHZP7IFIID43DIIY","additional_properties":{"_id":1732613737495},"content":"The report emphasises the importance of employee sentiment and retention rates as vital metrics for measuring workplace effectiveness. Organisations are increasingly aware that happy, engaged employees are more productive and committed to their work. As such, understanding employee satisfaction is no longer an afterthought: it is central to crafting effective workplace strategies.","type":"text"},{"_id":"3F6CLTQHZJH2HGCOM54BBXTI5A","additional_properties":{"_id":1732613737496},"content":"Companies that prioritise employee wellbeing not only enhance retention, but also cultivate high employee morale.","type":"text"},{"_id":"ZDNSM75MNNDF7FEX5EOOQZWM64","additional_properties":{"_id":1732613737497},"content":"In the Dublin office market, the prevalence of Grade A+ category space involved in the top five largest deals, and nearly 60 per cent of space taken altogether in the third quarter of 2024, supports the notion that occupiers will continue to migrate into the best offices in the best locations in the city. Whilst this lowers the high vacancy rate in this cohort, older buildings in non-core locations could be left “stranded”.","type":"text"},{"_id":"A6FPL6HEHJGTHNIFHMHXT5QAUE","additional_properties":{"_id":1732613737498},"content":"Grade A+ spaces may include prime location, modern design, sustainable features often accredited with the likes of sustainability metrics like LEED, BREEAM and WELL. Building amenities such as gyms, retail offerings and social spaces are increasingly valued, and smart buildings with high-speed internet, HVAC systems and advanced technology all contribute to the office as a destination – creating a magnetising space rather than mandating attendance.","type":"text"},{"_id":"WPYPCSWRRZAFHFSBUAL5KK3OBY","additional_properties":{"_id":"4TKF3EUWHNETDFHXTYZWF2JWT4"},"subtype":"pullquote","type":"quote"},{"_id":"KH2DLZAJBBDSNBZNX56CK5MW74","additional_properties":{"_id":1732613737499},"content":"Ultimately, the aim remains that of creating highly populated, thriving workplaces to support organisations achieving ambitious goals.","type":"text"},{"_id":"NXF7BE25OBFHHMFT6K432GOQBE","additional_properties":{"_id":1732613737500},"content":"Aligning corporate real estate targets, with workplace policies, is another essential takeaway from the report. Almost all (96 per cent) organisations surveyed have a definitive workplace policy in place. In Ireland, about 85 per cent of organisations have a workplace policy, and only 60 per cent with allocated days per week. To create a truly effective workplace, organisations must ensure that their spatial strategies reflect their broader business objectives.","type":"text"},{"_id":"QEH76TO73ZFXDMPXGJ55SRW5CA","additional_properties":{"_id":1732791896075},"content":"This alignment fosters an environment that supports both operational efficiency and employee satisfaction. Whilst retaining flexibility remains to be seen as an important and valuable part of an employer value proposition, organisations should be intentional in defining and communicating their workplace vision long-term, to remain an attractive employer in a competitive Dublin job market.","type":"text"},{"_id":"TH7EKALDUFCJ3E2OY6AMYFFLI4","additional_properties":{"_id":1732613737501},"content":"As companies shift their focus from mere efficiency to a more holistic understanding of effectiveness, they must embrace hybrid work models, prioritise employee satisfaction, and strategically leverage technology. The future of work is not just about how much space is occupied, but about creating environments that foster collaboration, innovation, and a sense of belonging.","type":"text"},{"_id":"3BZZXAYS7JEZRMNQZJWHBDAAHE","additional_properties":{"_id":1732115081311},"content":"<i>Melanie Bevan is strategy and change manager at CBRE</i>","type":"text"},{"_id":"VHO5IZVKKVA4HNYP6WAKCMUEWU","additional_properties":{"_id":1732115081312},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"Melanie Bevan"}]},"description":{"basic":"Successful workplaces are not just about how much space is occupied: it’s also about creating environments that foster collaboration, innovation, and a sense of belonging"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"Creating a sense of belonging makes a workplace effective","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"TRSOLHHHEBHI5CH7KBAGJJCWUY","auth":{"1":"a2d4341b4800ea7cb0c75ad9c3b25d084c66093c3351c2f285085bb9ef1edf93"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/TRSOLHHHEBHI5CH7KBAGJJCWUY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/creating-a-sense-of-belonging-makes-a-workplace-effective/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"EZYKVGLFMRB2ZOCMH2RHQKRMOI","additional_properties":{"audio_duration":138,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/4b1d662c-312d-4288-aa88-27253637a086/versions/1732628128/media/084855e574b7c4ed4e68ee032674fba6_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1732616656419},"content":"German investor <a href=\"https://www.irishtimes.com/tags/dws/\" target=\"_blank\">DWS </a>has paid €97.5 million for the 207-unit Hayfield apartment project in <a href=\"https://www.irishtimes.com/tags/killiney\" target=\"_blank\">Killiney</a>, in an off-market transaction. It is one of the largest private rented sector deals of the year.","type":"text"},{"_id":"SW74NL6MWZBDDKX3SARHTKV7I4","additional_properties":{"_id":1732623592768},"content":"DWS, which is understood to be also close to completing the sale of its Point Campus student development to US investor <a href=\"https://www.irishtimes.com/tags/greystar/\" target=\"_blank\">Greystar</a>, agreed to purchase the Killiney apartments in a forward purchase deal with Park Developments on behalf of two of its German institutional real estate funds.","type":"text"},{"_id":"D4K5MCIN3NG73LH5ZTLQXAVBJM","additional_properties":{"_id":1732623592769},"content":"DWS, a subsidiary of Deutsche Bank, paid about €471,014 per unit at Hayfield, which is west of Killiney Hill and next to Killiney Shopping Centre, opposite the Graduate pub. Properties at the just launched development are available to rent from €2,150 a month.","type":"text"},{"_id":"FDE4Y4U2OBHUJEY5IWP56KFIKU","additional_properties":{"_id":1732667557504},"content":"The development features an on-site concierge, reception and resident app, along with communal break out areas, office pods and gym, and is well served by transport links, as well as strong amenities including golf courses, a nearby village and schools.","type":"text"},{"_id":"6NVULV6V7JEUBAOZLYNVPYYQ3E","additional_properties":{"_id":1732623592770},"content":"Adam Johnson, the head of real estate asset management UK at DWS said: “Demand for high quality, professionally managed schemes is proving increasingly attractive due to changing lifestyle choices and an undersupply of rental options.”","type":"text"},{"_id":"BQJ74ADQZZGT3NTTLOMLGZQPT4","additional_properties":{"_id":1732623592772},"content":"Meanwhile, the sale of the landmark North Dock office scheme, beside Dublin’s 3Arena, has closed for a sum understood to be about €85 million – far below the asking price. The scheme, which was developed by Targeted Investment Opportunities (TIO), an umbrella fund involving Nama, Oaktree Capital and Bennett Construction, extends to some 18,766sq m (202,000sq ft) across North Dock One and North Dock Two.","type":"text"},{"_id":"4YG5SMWCRJGYZKLM7YAA63YNCQ","additional_properties":{"_id":1732623592773},"content":"The property was put on the market for about €130 million earlier this year, on behalf of the receiver, Interpath Advisory, which was appointed by US investment giant Pimco, who provided funding to the project. CBRE handled the sale.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"DWS’s deal at Hayfield is one of the year’s biggest"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"German investor pays €97.5m for 207 south Dublin apartments","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"ELRKPETWVRFCVJZLKJP6DJNPJA","auth":{"1":"85093853c463f2028acc6320e12b0eaf92f6db0dcaaa884164776216d3b2a70a"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/ELRKPETWVRFCVJZLKJP6DJNPJA.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/german-investor-pays-almost-500000-each-for-207-killiney-apartments/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"RS3TOLRN65EL3DDCFXNTM2XVNY","additional_properties":{"audio_duration":146,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/263f0507-3ebc-446f-a559-25290adfd8b1/versions/1732532006/media/d4cfe68d6ec85cf4fd357075074817a9_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1732523627119},"content":"Midlands shoppers will get an early <a href=\"https://www.irishtimes.com/tags/black-friday/\" target=\"_blank\">Black Friday</a> boost today when <a href=\"https://www.irishtimes.com/tags/sweden/\" target=\"_blank\">Swedish</a> <a href=\"https://www.irishtimes.com/life-style/fashion/\" target=\"_blank\">fashion</a> giant <a href=\"https://www.irishtimes.com/tags/h-m/\" target=\"_blank\">H&M</a> opens a new, bigger store in <a href=\"https://www.irishtimes.com/tags/athlone-towncentre/\" target=\"_blank\">Athlone Towncentre</a>.","type":"text"},{"_id":"3LTLO5FFOBBKPLERQFJFURV5WQ","additional_properties":{"_id":1732524729587},"content":"The retailer, which also owns brands including & Other Stories and Cos, has steadily being building up its Irish presence of late. Earlier this year it became the first retailer to move into the new <a href=\"https://www.irishtimes.com/ireland/dublin/2024/03/15/first-look-at-clerys-quarter-a-glimpse-inside-one-of-dublins-best-known-shops-for-the-first-time-in-nine-years/\" target=\"_blank\">Clerys Quarter</a>, while its more upmarket offering, Arket, is expected to open on Dublin’s Dawson Street early next year.","type":"text"},{"_id":"UZBPIC6C7VHR5P6X7KPB63OJ74","additional_properties":{"_id":1732524729588},"content":"In Athlone, H&M has signed a 10-year lease for its new store, which is an amalgamation of two units at ground-floor and first-floor levels. It will increase the retailer’s store size from 1,104sq m (11,887sq ft) to 1,411sq m (15,192sq ft), after an investment of some €3 million in store re-fit. The letting agents are Bannon and Cushman & Wakefield.","type":"text"},{"_id":"POR2IN5ORRH55NUICNC3YGCFPQ","additional_properties":{"_id":1732524729589},"content":"The shopping centre, which opened in 2007 and is the largest such outlet in the midlands, now has 98 per cent occupancy. It has seen a flurry of activity of late, with the arrival of a new anchor tenant Sports Direct, as well as big new brands including Rituals, an expanded Pamela Scott store and new Irish brands Echo Hair and Nails, Koo Koo and the recently opened Nana’s Tea.","type":"text"},{"_id":"UOP6CBTXLJEUFJHCCZ72RPEUCA","additional_properties":{"_id":1732524729590},"content":"Jennifer Mulholland, director at Bannon, said: “With this latest announcement, Athlone Towncentre is delivering on our long-term ambition for the scheme – namely, to become the leading shopping-centre destination in the midlands region and wider catchment area. We believe that’s central to its appeal not only for H&M but for other big Irish and international brands including Sports Direct, River Island, Zara, M&S, NEXT, TK Maxx and Eason.”","type":"text"},{"_id":"NLQLLU3B3JELFOL5IJKTC3SBII","additional_properties":{"_id":1732524729591},"content":"According to Bannon, the experience at Athlone Towncentre is reflective of how the market is moving currently, in that well-managed, performing assets continue to track ahead of sales in comparison with past years.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"The Swedish fashion giant is expanding its retail presence in the midlands town"},"display_date":"2024-11-27T05:00:00Z","headlines":{"basic":"H&M opens new, bigger Athlone Towncentre store in 10-year deal","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"UVG3TCVVY5HYZB36OAAD63PUSY","auth":{"1":"c819a9424181c1f1abada5eaae7cd5a5d6c8018af11f4796d3af4bd479ce83b6"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/UVG3TCVVY5HYZB36OAAD63PUSY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/27/hm-opens-new-bigger-athlone-towncentre-store-in-10-year-deal/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"IIM6OIUWRNEQ7J4UZO3KHV4TVI","additional_properties":{"audio_duration":288,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/f30075c0-410c-431f-8ca5-308e21532799/versions/1731325085/media/a0ab4858556f5c9794153bb0b4b0581d_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/dublins-office-market-recovery-may-mean-lower-rents/","content_elements":[{"_id":"EG3BYEUXDRDHTFOWG26FWOLENA","additional_properties":{"_id":1731322241994},"content":"Every journey starts with a single step, and Dublin’s office market has taken an important step towards stability in recent months. Following a sluggish 2023, take-up plummeted to just 16,300sq m in the first quarter – the lowest “peacetime” figure in a decade.","type":"text"},{"_id":"2IVWG2ZJ7RCRFH67I3B5EHJEIE","additional_properties":{"_id":1731322241996},"content":"However, things have improved considerably since then, with 134,000sq m of business space taken-up in quarters two and three. This is 36 per cent above the 10-year spring-summer average and, with the fourth quarter usually benefiting from seasonality, full-year take-up of 200,000sq m now seems realistic.","type":"text"},{"_id":"CVLWH4TI5VB7FKBW35NN2ZJCCM","additional_properties":{"_id":1731322241997},"content":"These green shoots have generated considerable optimism, and agents can point to legitimate positives. Tech leasing, which once represented more than half of the market, has not recovered from the 2022 “tech wreck”. However, advances in artificial intelligence (AI) are generating a new wave of job opportunities, and tech employment in Dublin has rebounded by 11.3 per cent in the past six months, according to figures from the Central Statistics Office (CSO). This has not yet affected office lettings – the tech share of take-up actually reached a record low of 7.1 per cent in the third quarter. But logic suggests it should support business space demand in the longer run. In addition, there is reassuring evidence that those sectors that traditionally underpinned the market before Dublin became a global tech hub remain relevant. Together, public sector, financial and professional services organisations took nearly 52,000sq m of space in the first three quarters, a reminder that the city’s underlying demand base is well diversified.","type":"text"},{"_id":"M44PW22ABZECRHNIGJI357YA6Q","additional_properties":{"_id":1731322241998},"content":"Nonetheless, significant headwinds remain. <a href=\"https://www.irishtimes.com/tags/remote-working/\" target=\"_blank\">Remote </a>and <a href=\"https://www.irishtimes.com/tags/hybrid-working/\" target=\"_blank\">hybrid </a>working have negatively affected the market in two ways. Firstly, with their staff partially stationed at home, new tenants are taking smaller quantities of office space per employee. Traditionally, the standard occupational density was 10sq m per person. However, the market’s latest high-profile letting illustrates how this ratio has dropped. From the reported details, <a href=\"https://www.irishtimes.com/business/2024/10/28/deloitte-signs-lease-for-new-irish-head-office-at-1-adelaide-road/\" target=\"_blank\">Deloitte</a> appears to be planning for less than 6sq m per employee at its new offices on Adelaide Road.","type":"text"},{"_id":"JBYDHIO2FRCSZGYWWEG2F4MBV4","additional_properties":{"_id":1731322241999},"content":"The second consequence of remote working is that it left existing tenants with surplus accommodation, which they are now offloading. When it gets relet, this tenant-offered “grey space” is counted in take-up. Critically, however, it does not add to overall occupancy; this space was occupied before being sublet, and it remains so afterwards, with only the rent-payer’s identity changing.","type":"text"},{"_id":"CO3FAURQR5A67LZYGLLYLEP3YM","additional_properties":{"_id":"FGGMWYMPRJCR7BENHFC4DNILPM"},"subtype":"pullquote","type":"quote"},{"_id":"VI7HCSP6FREWBOXAHRPWN7JWVE","additional_properties":{"_id":1731322242000},"content":"Hopes that the drag on demand from remote working would be resolved by a strengthening return-to-the-office dynamic appear to be fading. CSO figures show that the proportion of employees working remotely, and the number of days they are spending at home, have both now stabilised at well above pre-Covid levels.","type":"text"},{"_id":"IYTYWH4FRBFHVKBQPWJSZ54RGM","additional_properties":{"_id":1731322242001},"content":"Office vacancy has risen from 5 per cent to almost 16 per cent over the past five years, leaving Dublin with one of Europe’s highest office vacancy rates. Ideally, rising vacancy should have led to an earlier curtailment of supply, but a significant quantity of new space remains in the pipeline for delivery in the third quarter and into 2025. The recent pick-up in leasing is a necessary first step in digesting this. But with grey space impacting the conversion rate between take-up and increased occupancy, vacancy will continue rising in the short term.","type":"text"},{"_id":"4SZP4BNE35ECVCZRQZV3E64SW4","additional_properties":{"_id":1731322242002},"content":"With tenants favouring low-carbon offices, vacancy will eventually concentrate in older properties. Some argue this provides protection for prime rents. But the reality is that vacancy at the bottom of the market will eventually drag on rents at every level through an indirect process. Owners of vacant older blocks will have to cut rents to get their buildings occupied; this will cause owners with slightly better buildings ahead of them to counter-cut. In turn, this will put pressure on owners of buildings that are slightly better again to cut their asking rents, and so market forces will eventually be passed up the chain.","type":"text"},{"_id":"5B3E2NXKRVA2VMW4UVECRG34LI","additional_properties":{"_id":1731322242003},"content":"<i>Dr John McCartney is director of research at BNP Paribas and adjunct associate professor at UCD</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"John McCartney is director & head of research with BNP Paribas Real Estate Ireland"}]},"description":{"basic":"Demand for office space is rising again. But, with businesses downsizing, and vacancy rates remaining among Europe’s highest, owners of older blocks will have to start cutting asking rents"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Dublin’s office market recovery may mean lower rents","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"IYLKIIFRIVBFZFJAGG7TBC2DMU","auth":{"1":"9ed7c220b1e1871f8f74ee2bbedf186b7b8c3ad9e03f515af551d3390a7cecfd"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/IYLKIIFRIVBFZFJAGG7TBC2DMU.jpg"}},"subtype":"feature","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/13/dublins-office-market-recovery-may-mean-lower-rents/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"2D4V6TQ4PVG3VNLUD6FWGZCF7I","additional_properties":{"audio_duration":257,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/5469/podcasts/eb5d1eee-1438-4a19-94d8-6e05893a866d/versions/1732044158/media/82438d4400525bbe460401ee92529808_compiled.mp3"},"canonical_url":"/business/2024/11/20/israeli-embassy-and-germanys-second-world-war-mission-in-dublin-face-receivership-sale/","content_elements":[{"_id":"C7THD24PDFH43J5GFUWIBUHAIQ","additional_properties":{"_id":1732028979979},"content":"Israel’s leased embassy building in Dublin and a nearby property that served as the base for Germany’s mission during the second World War are among dozens of properties that could be sold after receivers were appointed last week to certain assets in an Irish real-estate fund.","type":"text"},{"_id":"VAOPHLK6ZBELBA37TXMWNR664I","additional_properties":{"_id":1732028979980},"content":"Property investor <a href=\"https://www.irishtimes.com/tags/mel-sutcliffe/\" target=\"_blank\">Mel Sutcliffe’s Quanta Capital </a>has confirmed that receivers have been appointed by alternate lender <a href=\"https://www.irishtimes.com/tags/relm-finance/\" target=\"_blank\">Relm Finance </a>over 27 properties owned by a sub-fund of Goldstein Property ICAV, an investment vehicle it manages. Relm is backed by funding from US investment group Avenue Capital.","type":"text"},{"_id":"A7TNNH2X6RHDNMMQHSBFGLPVSA","additional_properties":{"_id":1732028979981},"content":"<b>“</b>Quanta Capital, which manages the assets on behalf of Goldstein Property ICAV and its sub-funds, is disappointed by this development as we were working with the lender to secure an extension of the loan facilities,” said a company spokesman","type":"text"},{"_id":"BO6Q2NFAO5GJ3J527UMBASB4HM","additional_properties":{"_id":"VSYU4HLAVBCXXD5UW5Z4L5ZKFA"},"embed":{"config":{},"id":"acast_podcast-44096","url":"/"},"subtype":"acast_podcast","type":"custom_embed"},{"_id":"KS4RJTQYXFA3PLEUZQRWHL3DFA","additional_properties":{"_id":1732042253086},"content":"“We will continue to seek a resolution. Goldstein ICAV is still active in the market and Quanta, on behalf of Goldstein, manages over 500 properties. It is important to note that the tenants of these 27 properties are unaffected.”","type":"text"},{"_id":"V457W6ILOJGJFHC7IAVV5L235E","additional_properties":{"_id":1732028979983},"content":"The Sunday Times initially reported over the weekend that Ken Fennell and Brendan O’Reilly of Interpath Advisory had been appointed as receivers over assets in the Goldstein Property vehicle. The move follows a sharp fall in office values in the past two years as a result of a spike in interest rates and the impact of post-pandemic work practices.","type":"text"},{"_id":"4QZOCVUHOZBUFPQ5ABHORRD3AE","additional_properties":{"_id":"KPUPIC7GIZGGFLWDYEQKC6FQGQ"},"content":"Has Fingal County Council found a solution to Ireland’s housing crisis?","type":"interstitial_link"},{"_id":"HPR5RHNSI5CTJDDEUGR74XXO6Q","additional_properties":{"_id":1732028979984},"content":"The Irish Times has established the list of properties subject to the receivership including 23 Shelbourne Road, in Ballsbridge, Dublin 4, home to the Israeli embassy. Israel recalled its ambassador to Ireland in May after the Government announced its decision to recognise the state of Palestine.","type":"text"},{"_id":"FIOXVLKNJBAT5FRA34GYRCOQF4","additional_properties":{"_id":1732028979985},"content":"The list also includes 58 Northumberland Road, where a dental clinic is based. The red-bricked Victorian building served as the headquarters of the German legation, or embassy, in Ireland during the second World War.","type":"text"},{"_id":"JJYB2KHRBFFM7JOORSEUZPJZV4","additional_properties":{"_id":1732028979986},"content":"Other affected properties include some Georgian office buildings in Dublin 2, residential accommodation units and business park units.","type":"text"},{"_id":"HPLQC7YN4BHOPOQPXL77IGXVV4","additional_properties":{"_id":1732028979987},"content":"Representatives for Relm Finance and Interpath Advisors declined to comment, while property consultants Bannon, which is managing the properties on behalf of the receivers, did not respond to a request for comment.","type":"text"},{"_id":"36XOGRFZGJBHLOJZTXBBLJWQWU","additional_properties":{"_id":1732028979988},"content":"It is believed this is the first ICAV, or Irish Collective Asset-management Vehicle, to have had a receiver appointed to assets since the establishment of this type of Central Bank-authorised investment structure under legislation enacted in 2015.","type":"text"},{"_id":"U4SMCEE2ZJA6NGXFTQ3TZWMVBA","additional_properties":{"_id":1732028979989},"content":"Relm Finance, established in 2017, is among a wave of firms, typically backed by overseas capital, to enter the Republic’s commercial property financing market after mainstream banks reined in their exposure in the wake of the property crash.","type":"text"},{"_id":"42SQPBBI7JDFXCO5RER2X7YDGY","additional_properties":{"_id":1732028979990},"content":"Relm Finance has issued over €1.2 billion of loans over the past seven years, according to its website. It restricts itself to providing loans of no more than 75 per cent of the value of a property asset.","type":"text"},{"_id":"4GE4LON6SJEO5HGWJVMTSKT66I","additional_properties":{"_id":1732028979991},"content":"Quanta Capital, which has been an active buyer in the Irish property market in recent years, set up Goldstein Property ICAV in 2018. It has used different lenders to fund various assets.","type":"text"},{"_id":"LZJJPRIF3VDDLP6ALIM56HUFBI","additional_properties":{"_id":1732028979992},"content":"Quanta Capital had weighed putting in a counter bid for then Dublin-listed office and industrial property company Yew Grove in late 2021 on behalf of the ICAV, after the business had accepted a €127.8 million takeover from Canadian property group Slate Office Reit. Goldstein Property ICAV owned a 4.5 per cent stake in Yew Grove at the time. It ultimately decided against making an offer.","type":"text"},{"_id":"JAUB6TNTWFE57FFWF43V2NF4XQ","additional_properties":{"_id":1732028979993},"content":"More recently, Quanta Capital paid about €22 million in total for three prime properties on Grafton Street and South Frederick Street in Dublin city centre during the summer on behalf of the ICAV. These properties are not part of the receivership process.","type":"text"},{"_id":"PLTYPSNAUVHZDFYXG64AMI2WEU","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Joe Brennan"}},"name":"Joe Brennan"}]},"description":{"basic":"Mel Sutcliffe’s Quanta Capital says receiver has been appointed to 27 property assets that it manages by lender Relm Finance"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Israeli embassy and Germany’s second World War mission in Dublin face receivership sale","native":""},"label":{"audio_project_id":{"text":"5469"}},"promo_items":{"basic":{"_id":"TDXCINCHB5CCRAJUUHVLF2PP4Q","auth":{"1":"36f356a43b42545ed335f5e41845c14da3b4d1bb2c3be415f50d5a931471ae76"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/TDXCINCHB5CCRAJUUHVLF2PP4Q.png"}},"subtype":"default","taxonomy":{"sections":[{"name":"Business"},{"name":"Property"},{"name":"Commercial Property"}]},"type":"story","website_url":"/business/2024/11/20/israeli-embassy-and-germanys-second-world-war-mission-in-dublin-face-receivership-sale/","websites":{"irishtimes":{"website_section":{"_id":"/business","additional_properties":{"original":{}},"name":"Business"}}}},{"_id":"ZUTBJUI25NBT7O4NLM3TGFWYHU","additional_properties":{"audio_duration":111,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/b7dfd3b6-8b35-4360-b379-3b75702e20a0/versions/1731940765/media/b951713d48e4e211ae841e27915a8129_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/20/ballymount-letting-with-corporate-branding-opportunity/","content_elements":[{"_id":"JXEPZZLCY5ETDE7FHXGBDPIO2E","additional_properties":{"_id":1731923736099},"content":"A detached warehouse and office facility, located in a prime position close to Dublin’s M50, has come to the letting market quoting an annual rent of €250,000 (exclusive).","type":"text"},{"_id":"CCXW2FUJURC37CANIJ5REVAZYI","additional_properties":{"_id":1731931033533},"content":"C1 & C2 Ballymount Cross Industrial Estate, in Dublin 12, comprise 2,139sq m (23,024sq ft) across a detached warehouse and office facility.","type":"text"},{"_id":"WJW7FRGB6RAQLHFPFGFCSNUGSA","additional_properties":{"_id":1731923736101},"content":"Located in a prime position with excellent profile to the M50, it offers “a fantastic corporate branding opportunity to an incoming occupier”, letting agent Harvey says.","type":"text"},{"_id":"EIAHWWRASVHIVDKPHAYOZHVUIU","additional_properties":{"_id":1731923736102},"content":"The property benefits from loading access via three full-height automated doors, 5.5m clear internal height, a forecourt/marshalling area to the front and car parking to the rear, as well as two-storey offices and staff facilities.","type":"text"},{"_id":"UZOTUK4A7FC6ZCSIV7QNZZOPTA","additional_properties":{"_id":1731923736103},"content":"Ballymount Cross Industrial Estate is located just off Ballymount Road upper, and is equidistant from junctions nine and 10 of the M50. It provides access to all main arterial routes to and from Dublin city, and neighbouring occupiers include Noyeks, MSS, McCulla Ireland and Furlong Flooring.","type":"text"},{"_id":"MM5R67XAAZHXRB4PEN5KYDOQDA","additional_properties":{"_id":1731923736104},"content":"Hugh Herity, of letting agent Harvey said: “C1 & C2 Ballymount Cross offers unrivalled profile to the M50 in a strategic location. We expect the building will be of interest to a wide range of occupiers, due to its rare profile and the scarcity of units of this size available in the market”.","type":"text"},{"_id":"LMY6UXVOFRATVLR7NHUH5E6L4U","additional_properties":{"_id":1731923736105},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Interest likely to be strong given scarcity of units of this size available"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Ballymount letting with corporate branding opportunity","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"ZY4GUOY6S5GCTBZTT5BA5J4JI4","auth":{"1":"74f75668f3959da121e21328cc61f043155e55c65ea130c92cbcadd51b7d1433"},"focal_point":{"x":1064,"y":649},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/ZY4GUOY6S5GCTBZTT5BA5J4JI4.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/20/ballymount-letting-with-corporate-branding-opportunity/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"3RQHE2F7AZC33FULUAAOBVHXPY","additional_properties":{"audio_duration":208,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/84bc4f53-cf6f-49dc-beaf-3b8d7fca82e1/versions/1732022817/media/6f59b1b7aca7c29077fe8d5417f630a3_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/20/housing-crisis-its-not-just-how-many-homes-we-need-but-what-kind-we-build/","content_elements":[{"_id":"2EPIIDLDDZDNNOILWVUIDX3DIM","additional_properties":{"_id":1732020396158},"content":"","type":"text"},{"_id":"LC6OYAW4SJALLBMZMTVRZSN5MY","additional_properties":{"_id":1732020396159},"content":"The debate over the exact number of <a href=\"https://www.irishtimes.com/ireland/housing-planning/\" target=\"_blank\">housing</a> units that are required to bridge the gap between demand and supply must rapidly move to how to fast-track the delivery of more homes, not just more <a href=\"https://www.irishtimes.com/tags/housing-crisis/\" target=\"_blank\">affordable homes</a>, but more product for private purchase and private rental.","type":"text"},{"_id":"DZ7CZBX2XRG25HJ2CXLPE4HUKU","additional_properties":{"_id":1732020396160},"content":"The housing requirement gap is anywhere from 50,500 to 61,000 a year out to 2030 and beyond, or a total of 303,000 to 366,000 over the six-year period of 2024-2030. Current data indicates that total completions will not come anywhere near 50,500, with the now “older” target of 33,000 units unlikely to be achieved. The deficit from 2024 must then be added to the requirement in 2025 and so on.","type":"text"},{"_id":"GZ5KWXXWLBFU5FVVU3GPXDSGII","additional_properties":{"_id":1732020396161},"content":"Type of housing","type":"header"},{"_id":"EZVXWCPDOBGJ3LBDEY52CGUHCI","additional_properties":{"_id":1732020396162},"content":"Equally important is determining what type of housing units are required. Not everyone is a <a href=\"https://www.irishtimes.com/tags/first-time-buyer/\" target=\"_blank\">first-time buyer</a>, not everyone wants to <a href=\"https://www.irishtimes.com/tags/renting/\" target=\"_blank\">rent</a>, not everyone wants to <a href=\"https://www.irishtimes.com/tags/mortgages/\" target=\"_blank\">buy</a>.","type":"text"},{"_id":"XKNUZOYY2JEUTHM4CXQVTAEWXE","additional_properties":{"_id":1732020396163},"content":"This is where a key challenge lies for next government, planners and all industry participants; to build to cater for the type of housing that is required across all categories and in the relevant locations.","type":"text"},{"_id":"XKNUZOYY2JEUTHM4CXQVTAEWXE","additional_properties":{"_id":1732020396164},"content":"Our analysis breaks down the housing requirement by buyer/renter category, with indicative age groups. It suggests with regards to <a href=\"https://www.irishtimes.com/tags/student-accommodation/\" target=\"_blank\">student accommodation</a>, for example, that almost 3,900 units will be required a year; about 8,500 for renters/first-time buyers; more than 23,000 family homes; some 9,500 units for downsizers; and about 10,000 a year for those aged 75-plus in senior living developments.","type":"text"},{"_id":"IRVSAC7VF5GMHLHK6ZBAL3BFAA","additional_properties":{"_id":"HLNGAWTJEJCCLEJFTVLNIRFXCU"},"content":"The Irish Times view on State spending on housing: vital to get results","type":"interstitial_link"},{"_id":"R3PXFP453NEKHIW44MMNIK52XE","additional_properties":{"_id":1732020396165},"content":"Planning approach","type":"header"},{"_id":"XLD6IPQZ7BCSVNMT4ULGPQZ4VM","additional_properties":{"_id":1732020396166},"content":"The current draft National Planning Framework (NPF) indicates clear potential to make this happen, with a focus on development within existing urban areas, while at the same time states that planning policies and standards need to be flexible.","type":"text"},{"_id":"N4G7MD3IDVA3XNDDPRK46AMSBY","additional_properties":{"_id":1732020396167},"content":"The draft revisions to the NPF, if implemented, set out to encourage more people, jobs and activity generally within existing urban areas, rather than mainly “greenfield” development and will require a change in outlook. It also allows for flexibility in terms of planning.","type":"text"},{"_id":"7XOILQP74HDIYGT7AGBSPESMMY","additional_properties":{"_id":"FOLARBXSG5ANLBKCZQVFUICNYU"},"type":"image"},{"_id":"D4H2BO64FZCCPFAFOKENBRL64U","additional_properties":{"_id":1732020396168},"content":"“In particular, general restrictions on building height or universal standards for car parking, separation distances or garden size may not be applicable in all circumstances in urban areas and should be replaced by performance-based criteria appropriate to general location … A more dynamic performance-based approach appropriate to location will also enable the level of public transport service to improve as more development occurs and vice versa.”","type":"text"},{"_id":"FXEVZYYWWZFHVOWGITSY5G7SVU","additional_properties":{"_id":1732020396169},"content":"The target, albeit too low, has been set, with any revisions by other governing parties, expected to be on the upside.","type":"text"},{"_id":"Z7S7EY2IVBAVLDE2S7YJJXX3A4","additional_properties":{"_id":1732020396170},"content":"The current draft NPF, or indeed any revisions to that in the case of a change in government, needs to embrace change rapidly, allow more flexibility in planning and allow for the rapid zoning of land for housing development across all the required categories of housing.","type":"text"},{"_id":"IK5OLBTF6RAERAKMHMLRVO53OE","additional_properties":{},"content":"<i>Joan Henry is chief economist and director of research at Knight Frank.</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"Joan Henry, Chief Economist & Director of Research, Knight Frank Ireland"}]},"description":{"basic":"Not everyone is a first-time buyer, not everyone wants to rent and not everyone wants to buy. Catering to all will be a key challenge for next government"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Housing crisis: It’s not just how many homes we need, but what kind we build","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"AL7V6K3R2VHJ3NC4MLMII3HNQ4","auth":{"1":"feff8d663d70dc391ab4f75e17a95ee9d86025894c9014722a739d1e7d2ac676"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/AL7V6K3R2VHJ3NC4MLMII3HNQ4.jpg"}},"subtype":"analysis","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/20/housing-crisis-its-not-just-how-many-homes-we-need-but-what-kind-we-build/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"CRCY3KCYERBFBBO3JIBLGQVQUA","additional_properties":{"audio_duration":145,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/694b3ea8-b72d-4f88-a8fb-69a1a8b22e95/versions/1731934980/media/40c1419cfcc8be42d8ba65bf5b53112d_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/20/prime-retail-and-office-opportunity-on-st-stephens-green/","content_elements":[{"_id":"BZHQ5IPCDVDMZBGSPBKHQKZQKI","additional_properties":{"_id":1731923534968},"content":"A landmark St Stephen’s Green property, which is likely to appeal to retail and office investors, has come to the market for sale with a guide price of €2.5 million.","type":"text"},{"_id":"7OANUV3CIJBIHPNJVJHROOALGM","additional_properties":{"_id":1731923534969},"content":"No 2, St Stephen’s Green, formerly home to a branch of Permanent TSB, offers a rare opportunity to acquire a high-profile retail and office building in one of Dublin’s most sought-after locations, overlooking St Stephen’s Green, according to selling agent Lisney. Its prime location offers high visibility and footfall, which means it’s likely to appeal to both retail and office investors as well as owner occupiers.","type":"text"},{"_id":"I6CASFIQG5E6RNHSRWWCCC2AXM","additional_properties":{"_id":1731923534970},"content":"The property, which is being sold with full vacant possession, comprises about 3,565sq ft net internal area (NIA), with a generous open-plan ground floor area of 1,901sq ft NIA.","type":"text"},{"_id":"6PC72I7JEFH6HHDLZZYIUN3QBI","additional_properties":{"_id":1731923534971},"content":"The property is zoned Z5 City Centre in the Dublin City Development Plan 2022-2028. This zoning encourages mixed-use development, adding potential for a variety of uses, subject to planning.","type":"text"},{"_id":"7OANUV3CIJBIHPNJVJHROOALGM","additional_properties":{"_id":1731923534972},"content":"The property is on the northern side of St Stephen’s Green, close to Grafton Street and South King Street, two of Dublin’s premier shopping streets, home to renowned international brands such as Massimo Dutti, Canada Goose, Zara, Hugo Boss, Lego, Swatch, and Brown Thomas.","type":"text"},{"_id":"PPOVB7RSXBBBZA4T4JBSNVM3DA","additional_properties":{"_id":1731923534973},"content":"The proposed sale of No 2 comes after the recent sale of adjacent properties, which were brought to market by Savills last year. It is understood that this portfolio recently went sale agreed, and the launch of No 2 might also appeal to the new owners.","type":"text"},{"_id":"X3ZIO4OHFZD4ZNJDUI2CMDOBQY","additional_properties":{"_id":1731923534974},"content":"The St. Stephen’s Green Collection, which had an asking price of €13.5 million, incorporated Numbers 1, 3 and 5 St Stephen’s Green, as well as a separate mews building.","type":"text"},{"_id":"J6KZRPYHE5HRBPE4ESLD4JHTME","additional_properties":{"_id":1731923534975},"content":"The properties were sold by Aviva’s Irish Commercial Property Fund, and included a former outlet of Oasis, as well as a property let to UK fashion retailer Reiss.","type":"text"},{"_id":"PPOVB7RSXBBBZA4T4JBSNVM3DA","additional_properties":{"_id":1731923534973},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Plenty of potential on key shopping street for €2.5m"},"display_date":"2024-11-20T05:00:00Z","headlines":{"basic":"Prime retail and office opportunity on St Stephen’s Green","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"SQ22SLHT2FH3PFU7XVAYRXB5KU","auth":{"1":"beb345339dc00697f4ca9695c804e3b925a3a1177d5bd1961a9a75f5ffbe0f6e"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/SQ22SLHT2FH3PFU7XVAYRXB5KU.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/20/prime-retail-and-office-opportunity-on-st-stephens-green/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"RSXWTPHLAVB7LKYXE5YJTKCWHE","additional_properties":{"audio_duration":136,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/e40a3fe5-acd6-4a92-af7e-d166207b34d4/versions/1731328591/media/0b11f6fc35699d7160ac6ba5d904bb22_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/meath-land-bank-offers-potential-for-development/","content_elements":[{"_id":"OQN7H7ULD5DFZPYQ66HH46VZUQ","additional_properties":{"_id":1731072481239},"content":"An interesting development opportunity near Navan, Co <a href=\"https://www.irishtimes.com/tags/meath/\" target=\"_blank\">Meath</a> is being brought to the market by Coonan Property.","type":"text"},{"_id":"4WBWI3OHWJB6VMIOTNN7DTSCLA","additional_properties":{"_id":1731072481241},"content":"On offer is a parcel of some 16ha (39.5 acres) and a redbrick cottage that fronts on to the Boyne Road. The asking price is guiding in excess of €1.25m.","type":"text"},{"_id":"TA3PGPUJJFHJVMUTNJAMR2ECYM","additional_properties":{"_id":1731072481242},"content":"The land is currently in agricultural use, set in a mature setting along the river Boyne, with four access points on to Boyne Road.","type":"text"},{"_id":"JDLPQCJ3CNHP5E4EOV6TLCGXPE","additional_properties":{"_id":1731072481243},"content":"The majority of land is zoned within the Meath County Development Plan 2021 -2027, with some 11.2ha (27.68 acres) zoned “High Amenity” to protect and improve areas of high amenity.","type":"text"},{"_id":"ZT4GPKT7OBCNBOXA3VASZ4OOMA","additional_properties":{"_id":1731072481244},"content":"There are three agricultural access points to this part of the land and a separate entrance to the residential section.","type":"text"},{"_id":"O7LPKWVUB5BKFDJBPUF5GKD5SY","additional_properties":{"_id":1731072481245},"content":"The land also borders a new residential development known as Rowley’s Lock.","type":"text"},{"_id":"YW23XRRV7RECPCRAIFND2J6TZY","additional_properties":{"_id":1731072481246},"content":"About 0.7ha (1.73 acres) is zoned for Community Infrastructure – to facilitate opportunities for high technology and major campus style office based employment, within high-quality accessible locations.","type":"text"},{"_id":"W3P3PBQX6VHXPBAS4BHS7WX6AM","additional_properties":{"_id":"MFHYUMOEPBAOZEARFXGG4PB5FU"},"type":"image"},{"_id":"6AWH5NVQ5FF3PFVCGTEJXDU66I","additional_properties":{"_id":1731072481247},"content":"The parcel offers purchasers the opportunity to acquire a characteristic, redbrick residence in need of modernisation within striking distance of Navan town, while holding a number of potential development opportunities subject to planning.","type":"text"},{"_id":"ZPPZOQMAI5H2XD5WNBC5KTTEME","additional_properties":{"_id":1731072481248},"content":"Set behind the residence in a courtyard is a mix of cut-stone buildings made up of a haybarn with lean-to, machinery and storage sheds. The spilt-level four-bedroom residence extends to about 264 sq m. 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Following the departure of Ulster Bank back in 2023, PTSB agreed to acquire some of its business, including 25 branches.","type":"text"},{"_id":"5YO6DYIJCVHGJNITLXVVCNPD7E","additional_properties":{"_id":1730998431749},"content":"Lucan is a mature suburb in west Dublin, which benefits from a substantial array of local services and amenities including shops, various national and secondary schools, parks etc. It is well serviced by public transport, with various Dublin bus routes serving the locality. Adjoining occupiers to the bank include The Artisan Pantry, Seasons on the Weir, Four Star Pizza, and Coyne Solicitors.","type":"text"},{"_id":"TRSNSWD6NJGE3I5CM334SQNQ4Q","additional_properties":{"_id":1730998431750},"content":"“This property will give purchasers a chance to acquire impressive high-profile retail property in the heart of Lucan village, with the benefit of an excellent secure tenant covenant until March 2031, at a current rent of €120,000 per annum. We expect strong interest from a variety of investor groups and individuals,” says Brian Gaffney, director at Murphy Mulhall.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"More than six years is remaining on the lease in popular west Dublin location"},"display_date":"2024-11-13T05:00:00Z","headlines":{"basic":"Option to buy PTSB branch in Lucan village for €1.275m","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"2WFCOMXPCZBGHLVSHJUK4VGXNQ","auth":{"1":"02b6e5dd0274d51b07649a388815fc57641338e1def65992500ae762fe680a84"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/2WFCOMXPCZBGHLVSHJUK4VGXNQ.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/13/option-to-buy-ptsb-branch-in-lucan-village-for-1275m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"2BTMPV7JYNECPD5CPRJXEY4OF4","additional_properties":{"audio_duration":102,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/843d661a-1df6-40df-93af-5fdf5bb822db/versions/1731334797/media/cc59852da4d922384b33dde49b226e18_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/sligo-hotel-with-sea-views-for-7m/","content_elements":[{"_id":"CK4BH7G6MJHBFDIURRXMPIQX54","additional_properties":{"_id":1731326948025},"content":"With a stunning location overlooking the seaside Sligo village of Rosses Point, the sale of the 98-bedroom Yeats Country Hotel is likely to attract interest from both hoteliers and investors.","type":"text"},{"_id":"YIQO33VIEREZDBQ5PBPIESICD4","additional_properties":{"_id":1731326948026},"content":"This four-star hotel, offered for sale with vacant possession at €7 million by Savills, is a cornerstone of Sligo’s hospitality industry. With stunning views of the Wild Atlantic Way, proximity to the Blue Flag Beach and the prestigious County Sligo Golf Club just steps away, the hotel has long been one of the jewels in Sligo’s tourism offerings.","type":"text"},{"_id":"5EMQ3CRMJ5BJLI4MNLDM6NCT4M","additional_properties":{"_id":1731326948027},"content":"With a prime ocean front location, the hotel overlooks both Coney and Oyster Islands and County Sligo Golf Club (Rosses Point), home of the West of Ireland Championship, which attracts thousands of golfers annually.","type":"text"},{"_id":"7SFFBWXLTRH6RKNMANVDB7LJIU","additional_properties":{"_id":1731326948028},"content":"The property comes to market with 98 well-appointed and very spacious bedrooms, a number of dining options, including the Elsinore Restaurant, the Eros Spa, which offers a range of relaxation and beauty treatments, a leisure centre with an 18m swimming pool, and a large car park.","type":"text"},{"_id":"BSWKWAINHNGETOJRWAPRD2R3MI","additional_properties":{"_id":1731326948029},"content":"Tom Barrett, director of hotels at Savills, said: “The Yeats Country Hotel presents an exceptional opportunity for hoteliers and investors looking to capitalise on Sligo’s growing tourism market. 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The large anchor unit is capable of being offered in two, smaller units of 1,858sq m (20,000 sq ft) each.","type":"text"},{"_id":"WUW4V2MZJNEJZM4CHQTEPBXI3Q","additional_properties":{"_id":1731069284430},"content":"In addition, there will be three further standard retail warehouses of 929sq m (10,000sq ft) each, with the option of having a retail mezzanine level, if required.","type":"text"},{"_id":"VFSQNN7NTRHN5FSL5LWZPHGSNU","additional_properties":{"_id":1731069284431},"content":"Finally, a food and beverage stand-alone facility catering for probably two brands, with drive-through facility is envisaged, subject to planning.","type":"text"},{"_id":"ZNM3GAASJBG6HCL7IMS7RXST3I","additional_properties":{"_id":1731314273991},"content":"Declan Stone, managing director of Colliers, said: “Phase 3 comes on the back of the phenomenally successful Phases 1 and 2, the earliest of which opened in 2001. My grey hair attests to the fact I was involved in this development from when it was a greenfield site 25 years ago!","type":"text"},{"_id":"CW7QTTTCRZH2PPUP5R34NR26PE","additional_properties":{"_id":1731408505761},"content":"“The scheme has consistently ranked in the top performing retail parks in the country since it opened over 23 years ago, and has been broadly fully let since day one.”","type":"text"},{"_id":"VH2ZFVQVVZCWJAQU6H3QTL6B3Q","additional_properties":{"_id":1731069284432},"content":"As well as those existing tenants already mentioned, new tenants will be joining Woodie’s, Next, The Range, Lifestyle, Harry Corry, JYSK, Smyths Toys and Home Store + More.","type":"text"},{"_id":"M4JACVDLFFDFLGRSMJFPJOA45M","additional_properties":{"_id":1731069284433},"content":"As the south-western’s regional retail hub, Manor West attracts some 72,000 cars per week and has a catchment of roughly110,000 people within a 30-minute drive.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Tim O'Brien"}},"name":"Tim O'Brien"}]},"description":{"basic":"Leading national and international names already tenants at site in Tralee, Co Kerry"},"display_date":"2024-11-13T05:00:00Z","headlines":{"basic":"Manor West Retail Park set for expansion next year","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"G45KCY7JZYJPGJ4IVVJ46RU3CY","auth":{"1":"cff1458625b23b5caa1b4ae4a908cd5e170c3d0b9fe2fb4b2c81ad86da37aaf5"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/G45KCY7JZYJPGJ4IVVJ46RU3CY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/13/manor-west-retail-park-set-for-expansion-next-year/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"CZYZOV6GTBGYRNAEVWXBTBVQXY","additional_properties":{"audio_duration":157,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/3359a724-6ed3-4b4a-9c22-aef574d6f4cf/versions/1731340742/media/f40d88e514e12d68f6f91e783a17c39e_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/wexford-eyes-up-partners-for-150m-trinity-wharf/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1730900794722},"content":"<a href=\"https://www.irishtimes.com/tags/wexford-county-council/\" target=\"_blank\">Wexford County Council</a> is looking for investors and developers to take on the development of a mixed-use urban quarter at Trinity Wharf in Wexford Harbour. Plans for the more than €150 million development include a hotel, conference centre, artist studios, apartments, marina, offices and a public plaza.","type":"text"},{"_id":"ZI4C7CPRDRFPBMWUWF7JMKHAY4","additional_properties":{"_id":1731317131514},"content":"The council today launched a preliminary market consultation process for the planned project at Trinity Wharf, a 5½-hectare site, which is on a strategic waterfront position between Wexford Harbour and Wexford town.","type":"text"},{"_id":"2WPAI4VFQ5AJBN4CLWN5L3WW7Q","additional_properties":{"_id":1731317131515},"content":"Planning permission for the brownfield site, which was acquired by the council, has already been secured, and now the council is seeking to engage with private investors and developers on its plan.","type":"text"},{"_id":"QR6K4ZLGMRB2DJT64NLY47JA34","additional_properties":{"_id":1731333690610},"content":"A total of €20 million has already been allocated to the project under the Urban Regeneration Fund, with another €7 million ring-fenced by Wexford County Council.","type":"text"},{"_id":"3UT4VP6IYBHGZMV7V5IY7GRYBE","additional_properties":{"_id":1731333690611},"content":"Eddie Taaffe, chief executive of Wexford County Council, said the redevelopment offered a “unique opportunity” for private sector participation.","type":"text"},{"_id":"WWYTPEZZJVABRMVG5GDLBIYTZ4","additional_properties":{"_id":1731432732133},"content":"“To unlock the delivery of Trinity Wharf, we have now launched a preliminary market consultation, and we are looking forward to engaging with developers and investors on the unrivalled development and commercial opportunities offered by this exceptional project,” he said.","type":"text"},{"_id":"NVKQEF37RVFKZCRX6ITR3JKH5E","additional_properties":{"_id":1731317131516},"content":"The council has committed to delivering the required infrastructure, enabling works and initial site preparation for the project, including the marina, but does not envisage owning or operating the planned commercial assets. It is expected that the wharf will be delivered on a phased basis in partnership with either a single or multiple investor(s) and developer(s), with one or more procurement competitions running in 2025.","type":"text"},{"_id":"U6I4JRJ22REQ7AS66ERD4FONNE","additional_properties":{"_id":1731333690615},"content":"Development and investment opportunities include a four-star 120 bed hotel, over seven floors; a multifunctional conference and cultural centre extending over two floors, to include a conference room, exhibition space, artist studios and a cafe; an apartment block with 58 apartments over six floors; a three-floor restaurant; three office blocks of six floors each; and a six-storey 462-space car park, with a further 47 spaces at surface level.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Council looks to progress plans for a ‘world-class’ mixed-use urban quarter, including a hotel, conference centre and apartments at brownfield site between harbour and town"},"display_date":"2024-11-13T05:00:00Z","headlines":{"basic":"Wexford eyes up partners for €150m Trinity Wharf","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"UAM47EPDSZBKZILG7VKNWFZYIU","auth":{"1":"fb68032eaa752fc5e84191b0f659e9db2a49b0f8bc9e1ab9c41696ffb4191383"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/UAM47EPDSZBKZILG7VKNWFZYIU.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/13/wexford-eyes-up-partners-for-150m-trinity-wharf/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"TCWGBGVSUJHIXENCQRGYBTBYVI","additional_properties":{"audio_duration":167,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/88b24c89-a705-45f6-a6ee-34863233992e/versions/1731319647/media/50a68babced32529f4c6d2b07c46ef86_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/13/prime-logistics-investment-for-128m-in-ballycoolin/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1731065835608},"content":"The sale of a prime logistics industrial building, let to one of Ireland’s largest retailers, <a href=\"https://www.irishtimes.com/tags/dunnes-stores/\" target=\"_blank\">Dunnes Stores</a>, is likely to attract interest from private equity investors and family offices/high net worth individuals.","type":"text"},{"_id":"PRSODEALIVANZE6CD3UBWFVPJQ","additional_properties":{"_id":1731317960814},"content":"Harvey is bringing Unit 1, at the Stadium Business Park, in Ballycoolin, <a href=\"https://www.irishtimes.com/tags/dublin-11/\" target=\"_blank\">Dublin 1</a>5, to market at a guide price of €12.8 million (exclusive).","type":"text"},{"_id":"TJMGFLU3ANDQRK7VN63WJPCXLI","additional_properties":{"_id":1731317960815},"content":"The detached HQ industrial/warehouse and office facility, which extends to 78,441sq ft, sits on a site of 3.95 acres, and is positioned at the park entrance. The development is strategically located for distribution between the N2 and N3.","type":"text"},{"_id":"GQ64DNY6ORA7THRNELYPW4JI7Q","additional_properties":{"_id":1731317960816},"content":"The property is currently let to Dunnes Stores, which isn’t affected by the sale, at a passing annual rent of €775,000. The first rent review is in March 2027. This suggests that a purchase price at €12.8 million would reflect a net initial yield of 5.5 per cent, and a capital value of €163.18 per square foot.","type":"text"},{"_id":"UCTQUVFCNVG5XGKLIEN57NDXUU","additional_properties":{"_id":1731407585015},"content":"Dunnes Stores is under the terms of a full repairing and insuring lease for 15 years from March 2022, incorporating a tenant break option in March 2032, therefore offering seven-years-plus certain income.","type":"text"},{"_id":"TAL5TZR7KVELTP5XBIYG3KSUVU","additional_properties":{"_id":"PIUVDMDPZVA3PCBUDDQVDJG5OI"},"type":"image"},{"_id":"5UX6BBUQPVCIFHXGISADKZEUCY","additional_properties":{"_id":1731317960818},"content":"The property is well positioned on-site, and features include a clear internal height of 39ft (12m), eight dock levellers, two level access doors, an ability for HGVs to circulate the building, dedicated trailer parking and a passenger lift.","type":"text"},{"_id":"XCYLEARG2ZE4LLRVKSE2NKDGQI","additional_properties":{"_id":1731317960819},"content":"Philip Harvey, managing director of Harvey, said: “Unit 1 Stadium Business Park underwent a very significant refurbishment programme prior to its letting and achieved a very good Ber rating of B1. A Ber Uplift Report indicates that very minor additional capex, relative to the property’s size, can bring this to Ber A1 rating, should an incoming investor choose to do so. It is reversionary and is let to Ireland’s largest retailer, offering secure income. It also has a dual use planning permission, which is a benefit for future re-lettings. The excellent characteristics of the property, and fact that the capital value per square foot is well below replacement cost, will no doubt attract investors<i>.”</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Property in Stadium Business Park is let to Dunnes Stores"},"display_date":"2024-11-13T05:00:00Z","headlines":{"basic":"Prime logistics investment for €12.8m in Ballycoolin","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"T3IOOWM77FEHFPHEEXQXGLDAYY","auth":{"1":"b352d398ef7493875ad191b7c57361b6b5126a96e807479b4203eb95f6670f09"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/T3IOOWM77FEHFPHEEXQXGLDAYY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/13/prime-logistics-investment-for-128m-in-ballycoolin/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"SSQVGUQZDZGZTIFQP22TLQTK5I","additional_properties":{"audio_duration":627,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/5469/podcasts/fdbab437-4c86-47bb-8c59-5b96086bce69/versions/1731251089/media/5f2b762b5673fd0a5e54dcf639609a6c_compiled.mp3"},"canonical_url":"/your-money/2024/11/10/can-a-company-force-me-to-sell-my-shares/","content_elements":[{"_id":"5PJU6UW7NRF23CKOI23N4TUEHE","additional_properties":{"_id":1731236874605},"content":"<b>My 86-year-old father holds 10,000 shares in Balmoral International Land.</b>","type":"text"},{"_id":"YSJY23XBR5A7JCSMZLVOO7PMAI","additional_properties":{"_id":1731236874606},"content":"<b>As mentioned in your paper last month, the directors are seeking an extraordinary general meeting</b><i> </i><b>(EGM) to implement a forced redemption of his shares and force a significant discount on him so he does not believe the offer is a good faith offer.</b>","type":"text"},{"_id":"4OSR7ZSXQ5D2BPJ24QKHXE2ES4","additional_properties":{"_id":1731236874607},"content":"<b>He believes the redemption is not in the interests of the company but is in the interests of the directors and hence he believes they cannot legally do this.</b>","type":"text"},{"_id":"U3OY7XZC5NH7LF7PBHYGKO6ETA","additional_properties":{"_id":1731236874608},"content":"<b>He is a small investor as a hobby and does not know how he can raise his concerns. Can you offer him some help on where he might be able to get advice on this matter?</b>","type":"text"},{"_id":"5RHBHDPDURFZ7PRUYEAR4KRGRA","additional_properties":{"_id":1731236874609},"content":"<b>Mr B.G.</b>","type":"text"},{"_id":"7745UO5ZPFFS7NQDXE5F3TAQ2Q","additional_properties":{"_id":1731236874610},"content":"* The McCann family and what was originally Fyffes have always had a very close relationship. Charles McCann, grandfather of Balmoral chairman Carl McCann, first opened a grocery shop in Dundalk in 1902, becoming the first Irish agent for what was then a small London-based importer of bananas, Fyffes. The business evolved to eventually list in Dublin, initially as FII plc in 1981 and then, from 1990, as Fyffes.","type":"text"},{"_id":"IKC2MLCPLNDMVMU4SZY6F6QPJA","additional_properties":{"_id":1731236874611},"content":"After what was, at times, a rollercoaster ride for the family and shareholders, Fyffes split the business up in the back end of the Celtic Tiger.","type":"text"},{"_id":"J6QJDHH3VFEHLPAHKFOVXS673Y","additional_properties":{"_id":1731236874612},"content":"The group’s property interests were spun out as Blackrock International Land in 2006, changing the name in 2010 to Balmoral International Land. The McCanns had a 40 per cent interest in this business from the start so they were always likely to have a strong say in proceedings, not least as many of the rest of the shareholders were very small in scale.","type":"text"},{"_id":"ZCSJ7JIBENGCHEXSIUYO65UKWU","additional_properties":{"_id":1731236874613},"content":"A few months after the Blackrock deal, Fyffes spun out its general fresh produce supply business as Total Produce, with the McCanns again holding a double-digit stake in the new company alongside existing Fyffes shareholders. The tropical fresh produce business remains as Fyffes as it was eventually sold to Japanese giant Sumitomo in 2016.","type":"text"},{"_id":"EFHAEZ5RQJDXFK4YOUXC6GGG6A","additional_properties":{"_id":1731242531116},"content":"Although all three were initially listed businesses with investments held by all former Fyffes shareholders, Balmoral delisted in 2011 after its share price slumped following the property crash in Ireland.","type":"text"},{"_id":"OGQXGS6P7RHALKSIHKJE4U6YHQ","additional_properties":{"_id":1731242531117},"content":"In line with recent moves by AIB and PTSB, the company has a shareholder register featuring a few large shareholders and a raft of small stakeholders.","type":"text"},{"_id":"JXLHVNVOEJAF5O26AQ74VV2VNM","additional_properties":{"_id":1731242531118},"content":"According to the circular sent to shareholders in advance of this month’s planned extraordinary general meeting (EGM), of the company’s 5,000 or so shareholders, almost 4,500 hold 500 or fewer shares in the business. To put that in context, that means each of those 4,500 investors has a stake amounting to less than 0.007 per cent of the business.","type":"text"},{"_id":"PAW3DC5J6RB4DNAGRY5J4HA7ZI","additional_properties":{"_id":1731242531119},"content":"Balmoral says it is receiving an increasing number of requests from shareholders looking for an exit from the investment. Given that many of the original Fyffes plc investors would now be fairly old and others are now holding shares they may have inherited but which they have no real interest in, that certainly sounds plausible.","type":"text"},{"_id":"C2WNE6XFGZDYRNCDWCEI3BD6E4","additional_properties":{"_id":1731242531120},"content":"As a delisted business, there was much less liquidity in the shares which trade on the “grey” or unofficial market.","type":"text"},{"_id":"623NLDRLTZHXDHREBH53JSVWHU","additional_properties":{"_id":1731242531121},"content":"There is also the reality that many very small shareholders probably do not have stockbroking accounts and the broker cost of selling the shares would more than wipe out any face value return on the transaction.","type":"text"},{"_id":"IONXWFQCAVAHFNNG5DFOQXTCYY","additional_properties":{"_id":1731242531122},"content":"Balmoral also makes the obvious point that running a small delisted public company with a large shareholder base imposes a burden in terms of cost and administration for the business that takes away from its focus on the core business.","type":"text"},{"_id":"NZ7WPP4VQJHQTIJRSOU6PWXDKI","additional_properties":{"_id":1731242531123},"content":"The current move to buy out smaller shareholders is not the first. The company announced a Shareholder Redemption and Liquidity Programme last year when it first moved back into a cash positive position after many years, giving it the financial muscle for such a move.","type":"text"},{"_id":"SZHXSJQNQ5C5HOGN22TVPHBX7Q","additional_properties":{"_id":1731242531124},"content":"Last year, the company said it would spend an initial €2 million to buy back shares – focusing on investors with fewer than 50,000 shares.","type":"text"},{"_id":"ZEL5I4YZWVAKBMLLN2BSYVP7KQ","additional_properties":{"_id":1731242531125},"content":"In an exercise that was purely optional, it agreed to pay seven cent a share. That was higher than the 5.5 cent at which the stock had traded in advance of the offer but sharply below the net asset value of the company’s portfolio which was reported to be 17.93 cent per share, according to its annual report which was published in advance of the buyback.","type":"text"},{"_id":"VH7KAH5RORCTJFR6B2NGCCUEE4","additional_properties":{"_id":1731242531126},"content":"In the event, the company spent €2.56 million buying back 36.6 million shares from 1,344 shareholders – just under 5 per cent of the stock. That exercise brought the McCann family shareholding above 60 per cent. It also implemented a one for 100 consolidation which meant that for every 100 shares you held previously, you now hold just one.","type":"text"},{"_id":"5KFEU2YGXJAVLM27LUJQQ4JETU","additional_properties":{"_id":1731242531127},"content":"Just over one year on, the company’s cash pot has grown again and, it says, it continues to head from shareholders looking to “unlock the value” of their shares. This is in the context where there has been little or no trading in the shares since the July 2023 buyback.","type":"text"},{"_id":"OLVUAYSBMVFFHK6ESL365XLFRY","additional_properties":{"_id":1731242531128},"content":"So the company is going again, only this time things are different. The big difference is that, now, for many shareholders, the offer is mandatory.","type":"text"},{"_id":"DJQZOH5SVFDQ7EUDWMR7PKHIEA","additional_properties":{"_id":1731242531129},"content":"Anyone with fewer than 25,000 ordinary shares in the business will have their shares acquired at a price of ¤10.50 a share regardless of whether they want to sell or not.","type":"text"},{"_id":"HBPI37HKCVC3ZES2HI6JTM7WIE","additional_properties":{"_id":1731344886800},"content":"Those who have more than 25,000 shares will also have their holdings acquired as a default unless they opt out of that process.","type":"text"},{"_id":"5KF5TS3PZNHLRM7ETRAYHADDSA","additional_properties":{"_id":1731344886801},"content":"The issue, again, is the price. The €10.50 a share is more than double the price at which Balmoral shares last traded post-consolidation in the “grey market” last November. Since then, stockbrokers have stopped any dealing in the paper-based shares.","type":"text"},{"_id":"Y4RDR5GNGVGVJHOTHJ27M4FPPM","additional_properties":{"_id":1731344886802},"content":"However, the price equates to just over half of the €18.72 net asset value per share of the company’s portfolio as of the end of June.","type":"text"},{"_id":"BZLJMBXZ2FAEHGQQFUNNPVY4VY","additional_properties":{"_id":1731344886803},"content":"That’s a big deal. Small shareholders might reasonably expect that in a takeover situation, they would get a premium to its net asset value, or at the very least, parity.","type":"text"},{"_id":"Q6B3CUNLKJFJFIC7WPDHCD3NLM","additional_properties":{"_id":1731344886804},"content":"And it is effectively a takeover. The large shareholders – led by the McCanns – are ousting smaller fellow shareholders in a company that is finally cash generating as they take it private.","type":"text"},{"_id":"N5M43F7N6RAZHEWRA7HZKKMJJU","additional_properties":{"_id":1731344886805},"content":"And it is a done deal, as holders of over 80 per cent of all shares – including the McCanns – have said they will back the move at the EGM on Thursday week, November 21st in a move that inevitably gives them an even bigger stake in the company.","type":"text"},{"_id":"C5ST5SP26BCNNEUB5A6BTCK4WM","additional_properties":{"_id":1731242531131},"content":"Those eligible for opting out must request a form to do so before 11am on Tuesday next, November 19th, and must return it completed and with any required supporting documents by 6pm on November 28th.","type":"text"},{"_id":"OCVR5U2V4ZDNRJCANXJOTAUN3Q","additional_properties":{"_id":1731242531136},"content":"I am not sure whether the 10,000 shares that you mention your father has is his holding pre-consolidation or post-consolidation but either way, they will be acquired compulsorily. Is there anything he can do to hold on to the shares?","type":"text"},{"_id":"YCULHPWQ3RHTDND2WSBQS6W6IE","additional_properties":{"_id":1731242531137},"content":"Shareholders do have rights in Ireland but they are limited and the bigger question, in practical terms, is whether it is worth your father – or someone on his behalf – getting involved in the battle.","type":"text"},{"_id":"TCBNXKMUN5EJPI2LRKATCEAKJE","additional_properties":{"_id":1731344886809},"content":"Under the offer price, he will get €105,000 for his shares – assuming the 10,000 shares is a post-consolidation figure. If he were able to hold out for at least 100 per cent of the net asset value, as reported in June, he would receive a total of €187,200.","type":"text"},{"_id":"TBAR6YVL3NGQXDK3SV6V33W5MQ","additional_properties":{"_id":1731344886810},"content":"Clearly €82,200 is not to be sneezed at, but in terms of the potential costs involved in trying to block the compulsory purchase of his shares, it would not go very far. And he needs to remember that while shareholders have rights, so do companies in how they manage their affairs.","type":"text"},{"_id":"MI3KNNDUQVAMTMQC3TLA6JFETE","additional_properties":{"_id":1731344886811},"content":"The two ways in which shareholders exercise their rights are by voting at or forcing general meetings of shareholders, and by recourse to law arguing that their rights are being oppressed. Their precise rights in a particular business will be determined by law and by the company’s memorandum and articles of association, or constitution.","type":"text"},{"_id":"ZFWWCX776VCMVF2CQPKOFOV3FM","additional_properties":{"_id":1731340421936},"content":"As a broad rule, a company is obliged to act in the interest of the company as a whole, and not in the interests of a group of shareholders even where those shareholders may be in a majority. All shareholders, including minorities, have property rights.","type":"text"},{"_id":"W4TNRCBR5ZEDHFCBDECGQTOQNU","additional_properties":{"_id":1731242531141},"content":"However, given that over 80 per cent of shareholders are backing this motion, I see no way in which your father can force a change of heart at any meeting of shareholders, even if he could find sufficient dissenters to force a special meeting or a motion to this meeting – and time is certainly against him in marshalling any such action anyway.","type":"text"},{"_id":"VTKXQMXTSZFTRAR6YKHDQ3XCVY","additional_properties":{"_id":1731242531142},"content":"As for the legal route, it must be shown that the act or measure complained of has as its primary motive the advancement of the interests of the majority shareholders as opposed to the interests of the company as a whole – oppression of a group of shareholders and/or disregard of their property rights.","type":"text"},{"_id":"5FQFWQEYSFHI5CACHLQSIPWHPA","additional_properties":{"_id":1731242531143},"content":"The mere fact of the offer price compared with the paper net asset value, and the compulsory nature of the buyout are not in themselves proof of that. Nor is the outcome where the McCanns may hold 80 per cent of the private company.","type":"text"},{"_id":"BOWAFX47J5BXPKAUH42SG7JXXY","additional_properties":{"_id":1731242531144},"content":"Given the history of the company, the illiquidity of the paper-based shares, the uncertainties surrounding the commercial property market and the unlikelihood of any return to a listed market, at least in the medium term, the challenge facing your father is very significant, quite likely insurmountable. And the financial cost would be very significant.","type":"text"},{"_id":"OJ3O7HG5HREIVIXKWZOZURVLYU","additional_properties":{"_id":1731344886817},"content":"Does it look like the major shareholders and directors are playing fast and loose with the interests of small shareholders? Yes. Can you stop them? In all likelihood, no.","type":"text"},{"_id":"HMI3P2WOWRGB3OFENR2IS5NB34","additional_properties":{"_id":1731242531145},"content":"Stock investment is a risky game at the best of times, particularly investing in individual stocks rather than exchange traded funds or other pooled investments. Investing in a company exposed entirely to the property market is riskier still. Sometimes it is better simply to cut your losses and move on.","type":"text"},{"_id":"N2EBUHNBUVBFJDH33RXNK2VS4I","additional_properties":{"_id":1731242531146},"content":"I suspect that is his best option here. Any loss that the €105,000 crystallises can be offset against profits he makes on the future sale of other assets he hopefully makes this year or into the future. Any outstanding capital losses still in place when he dies will, as with any tax-liable capital gains, die with him.","type":"text"},{"_id":"TTDNW5GBVJFVZOUGFBHDPMJG5I","additional_properties":{"_id":1731344886820},"content":"<i>* This article was edited on Monday, November 11th, 2024</i>","type":"text"},{"_id":"4NVFE5NL5VC4JPQKCHIOYQH4EE","additional_properties":{"_id":1731236874615},"content":"<i>Please send your queries to Dominic Coyle, Q&A, The Irish Times, 24-28 Tara Street Dublin 2, or by email to </i><a href=\"mailto:dominic.coyle@irishtimes.com\"><i>dominic.coyle@irishtimes.com</i></a><i> with a contact phone number. This column is a reader service and is not intended to replace professional advice</i>","type":"text"},{"_id":"LRXPRC5XFBA7BIP7KIA3GTRP3E","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Dominic Coyle"}},"name":"Dominic Coyle"}]},"description":{"basic":"Balmoral International Land is voting on whether to force investors with fewer than 25,000 shares to sell for a fraction of the net asset value of its assets"},"display_date":"2024-11-10T12:37:53.431Z","headlines":{"basic":"Can a company force me to sell my shares? ","native":""},"label":{"audio_project_id":{"text":"5469"}},"promo_items":{"basic":{"_id":"QG6QHYQZFBKBRAELFIVO6L3MCI","auth":{"1":"dd755ca3808b1ea997b5a1af5ef59fd1f0a63ae6369655245e24c75f3668c8d6"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/QG6QHYQZFBKBRAELFIVO6L3MCI.jpg"}},"subtype":"columnist","taxonomy":{"sections":[{"name":"Your Money"},{"name":"Property"},{"name":"Commercial Property"},{"name":"Business"}]},"type":"story","website_url":"/your-money/2024/11/10/can-a-company-force-me-to-sell-my-shares/","websites":{"irishtimes":{"website_section":{"_id":"/your-money","additional_properties":{"original":{}},"name":"Your Money"}}}},{"_id":"YCFR5OCN2BFJRFSNPN23WEWLCA","additional_properties":{"audio_duration":139,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/5469/podcasts/e5607430-3b3a-454f-b1f1-b1385240f615/versions/1730922477/media/77a02aa9672bcb190f60789292da87e1_compiled.mp3"},"canonical_url":"/business/2024/11/07/receivers-appointed-to-mckillen-company-behind-bray-central-shopping-centre/","content_elements":[{"_id":"PLTYPSNAUVHZDFYXG64AMI2WEU","additional_properties":{"_id":1730919289740},"content":"A UK-based loan servicing group has appointed receivers to a company co-owned by <a href=\"https://www.irishtimes.com/tags/paddy-mckillen-jnr/\" target=\"_blank\">Paddy McKillen </a><a href=\"https://www.irishtimes.com/tags/paddy-mckillen-jnr/\" target=\"_blank\">jnr</a> that controls the Bray Central shopping and town centre site.","type":"text"},{"_id":"33TQREYFRJFULG37RIREBQDAMA","additional_properties":{"_id":1730919289741},"content":"In 2018, <a href=\"https://www.irishtimes.com/tags/wicklow-county-council/\" target=\"_blank\">Wicklow County Council</a> agreed to sell the property, formerly known as the Florentine site, to Navybrook Ltd for a reported €2.6 million, pending its redevelopment into a modern retail park by Mr McKillen jnr’s <a href=\"https://www.irishtimes.com/tags/oakmount/\" target=\"_blank\">Oakmount</a> property vehicle.","type":"text"},{"_id":"ETHUQJEMPRHVDPZ4A5CLSBLFMY","additional_properties":{"_id":1730919289742},"content":"On Tuesday, Declan Taite and Sharon Barrett of corporate restructuring and advisory group Kroll were appointed by BCMGlobal, a UK loan-servicing firm, to Navybrook on foot of loans secured against the property.","type":"text"},{"_id":"2NHRPR6435DZ5DOZX4LQYDFMWA","additional_properties":{"_id":1730919289743},"content":"The receivers were not available for comment on Wednesday evening. Oakmount was approached for comment.","type":"text"},{"_id":"IYHCIZH43JBOVMKRMF5Q4NAQ6A","additional_properties":{"_id":1730919289744},"content":"Companies Registration Office (CRO) filings indicate that BCMGlobal secured three charges against the assets of Navybrook in 2019 and 2022.","type":"text"},{"_id":"D4TAWDFUJ5F3ZGMKSA2SVMWNMA","additional_properties":{"_id":1730919289745},"content":"Navybrook’s 2019 annual return, the most recently available for the company, indicates that Keillan Ltd, the Isle of Man-registered holding entity behind the <a href=\"https://www.irishtimes.com/tags/press-up-hospitality-group/\" target=\"_blank\">Press Up Group</a>, owns 50 per cent of the company. The other 50 per cent is owned by Dublin-registered Clementbrook Ltd.","type":"text"},{"_id":"TVCKBOGEARDX3BC4THZZCYPFDQ","additional_properties":{"_id":1730919289746},"content":"CRO documents also list Mr McKillen jnr as a director of the company along with Liam Cunningham and Ronnie Delany, long-time associates of <a href=\"https://www.irishtimes.com/tags/paddy-mckillen/\" target=\"_blank\">Paddy McKillen </a><a href=\"https://www.irishtimes.com/tags/paddy-mckillen/\" target=\"_blank\"> snr</a>, who were appointed as directors earlier this year.","type":"text"},{"_id":"UPZREGNNCFC65NLEQ3TZ25652E","additional_properties":{"_id":"7BJPACNOCNGBFMJYP2TGSFNPXE"},"embed":{"config":{},"id":"acast_podcast-39931","url":"/"},"subtype":"acast_podcast","type":"custom_embed"},{"_id":"KAIPXLTAYVEAXNI22DIBKNTYWY","additional_properties":{"_id":1730919289747},"content":"Work on the site was completed in 2023, with anchor tenant Penneys opening its doors in July 2024. The tenants are unaffected by the receivership, it is understood.","type":"text"},{"_id":"4WZD3RTY2JDHDGTGSFKNQHBTHY","additional_properties":{"_id":1730919289748},"content":"Mr McKillen jnr’s Press Up group also operated a Wowburger and Elephant and Castle outlet on the premises. Receivers were appointed to the operating companies behind both restaurants earlier this year by London-based lender Cheyne Capital, which took control of Press Up in a debt-for-equity swap.","type":"text"},{"_id":"PLTYPSNAUVHZDFYXG64AMI2WEU","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Ian Curran"}},"name":"Ian Curran"}]},"description":{"basic":"Wicklow County Council agreed to sell the site to Navybrook in 2019"},"display_date":"2024-11-07T06:00:00Z","headlines":{"basic":"Receivers appointed to McKillen jnr company behind Bray Central shopping centre","native":""},"label":{"audio_project_id":{"text":"5469"}},"promo_items":{"basic":{"_id":"43QKLHVUXJAUZNEMXYYW6OSS5I","auth":{"1":"1a272877e509580938dc964ec20ae20c5bb69bd85074c2e0598adb9f354991c0"},"focal_point":{"x":2430,"y":2159},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/43QKLHVUXJAUZNEMXYYW6OSS5I.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Business"},{"name":"Property"},{"name":"Commercial Property"}]},"type":"story","website_url":"/business/2024/11/07/receivers-appointed-to-mckillen-company-behind-bray-central-shopping-centre/","websites":{"irishtimes":{"website_section":{"_id":"/business","additional_properties":{"original":{}},"name":"Business"}}}},{"_id":"BEK3DSZRD5HQHEWN6GHSVHQTY4","additional_properties":{"audio_duration":147,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/5469/podcasts/9c9c795a-2d52-409b-9bee-b9219e4bae5e/versions/1730918697/media/a3b70182ebb5f0ae28aaff8d80fb9f64_compiled.mp3"},"canonical_url":"/business/2024/11/06/mike-ashley-firm-gets-green-light-to-open-large-gym-on-one-floor-of-former-debenhams-stores-on-henry-street-in-dublin/","content_elements":[{"_id":"NDHANRHZPZH6PNJBK6AMRMC6UE","additional_properties":{"_id":1730913926478},"content":"","type":"text"},{"_id":"4Q5HWPDO5VDY3FTOMTFLG76N6Y","additional_properties":{"_id":1730913926479},"content":"Billionaire Mike Ashley’s Sports Direct has secured the green light to open a large gym at the former Debenhams department store on Dublin’s Henry Street.","type":"text"},{"_id":"TGKOVFSROBBEHNWW3CAIGIBIZY","additional_properties":{"_id":1730913926480},"content":"The 27,544 sq ft gym will be the first opened by the group in the Republic and the permission follows two years on after Mr Ashley’s Frasers Group bought the former Debenhams outlet in Henry Street.","type":"text"},{"_id":"TQ3QD6FLQREMXAVQGT34YBMIJY","additional_properties":{"_id":1730913926481},"content":"The site at 54-62 Henry Street has remained closed since the Debenhams store shut during the Covid-19 pandemic in May 2020. Planning consultants for the applicants, Heatons Ltd, Tom Philips+Associates state that the site “holds one of the most important and prominent retail locations in Dublin City centre”.","type":"text"},{"_id":"GDS2UBCA5ZASNFKOTMFXOZ464U","additional_properties":{"_id":1730913926482},"content":"As part of the revamp, Heatons Ltd, which trades as Sports Direct in Ireland, is to open a new Sports Direct store from ground floor to the second floor mezzanine, with the gym on the third floor.","type":"text"},{"_id":"OW7MP5L7WZBRDK7QQUNCLHXO5M","additional_properties":{"_id":1730913926483},"content":"Tom Phillips + Associates told the city council that the proposed development “will allow for the successful occupation of a landmark commercial unit, which in turn will enliven the streetscape and provide a positive addition to the area”.","type":"text"},{"_id":"XNPZCXTB55ENVBR6TYRCU2EVBA","additional_properties":{"_id":1730913926484},"content":"","type":"text"},{"_id":"DEOGLIAD3NCFJKD3VZRFPS3QEI","additional_properties":{"_id":1730913926485},"content":"The report states that the revitalisation of the property “will stimulate job creation, boost street activity, and enhance animation throughout the day and evening”.","type":"text"},{"_id":"DCA3VS3BEVFMBG2FRAQW5FFVAY","additional_properties":{"_id":1730913926486},"content":"It adds that “this will lead to a more attractive pedestrian environment compared to the existing dormant walkways along the front facades along Henry Street and Coles Lane”.","type":"text"},{"_id":"Q5JWPI6GOVCYHBOBJW43EJXTE4","additional_properties":{"_id":1730913926487},"content":"On the Everlast-branded gym, Tom Phillips + Associates states that the “facility will comprise a wide range of machines and equipment and will include smaller, unique group training concepts, designs specifically to cater to the needs of its members”.","type":"text"},{"_id":"IIN2YIYETVCMVGXULMR2ILZSJI","additional_properties":{"_id":1730913926488},"content":"","type":"text"},{"_id":"5BKOUFABYZH37IQHRT2CI4K5XQ","additional_properties":{"_id":1730913926489},"content":"This will include Hilt, boxing, spinning, yoga/pilates, strength and cardio style workouts.","type":"text"},{"_id":"3O4O27HEABAGFCEJAMSIK4Y2OA","additional_properties":{"_id":1730913926490},"content":"The planning application faced one objection. Anne Reilly of Saks Hair Salon of Sackville Place asked the council to reject the gym “so that almost 30,000 sq ft of existing prime shopping or retail space is not removed from our main shopping street”. 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Adjacent to the docklands, the ground-floor and third-floor offering covers 2,500sq m (26,586sq ft).","type":"text"},{"_id":"H3V6DYER4NDZFIPMXFOHR7FBKE","additional_properties":{"_id":1730799848648},"content":"The property is for sale by private treaty in one or more lots, and the agents are guiding a sale price of €6 million for the entirety. This reflects a blended reversionary yield of about 9.3 per cent, assuming standard acquisition/purchaser’s costs.","type":"text"},{"_id":"F3UY7Q2C65GHZEJUVQCQSCF5CY","additional_properties":{"_id":1730799848649},"content":"The property is coming to the market on behalf of the receiver, Gerard Murphy.","type":"text"},{"_id":"S3HRLUPO5VAQXGCRZONZG7GX6A","additional_properties":{"_id":1730468234612},"content":"On the third floor are five office suites laid out around a central service core. This floor is fully occupied under various leases and the total annual passing income is €431,000. Existing tenants, who are not affected by the sale, include blue-chip businesses Cornmarket Group, Goodbody Stockbrokers, NIB Travel Insurance, GJ Moloney Solicitors and Glandore Business Centre.","type":"text"},{"_id":"SRZIQ4SV2JDLBLX3V2HFJWPMNU","additional_properties":{"_id":1730468234613},"content":"The offices are fitted to an extremely high standard with raised access floors, extensive natural light and panoramic views of the city and river Lee.","type":"text"},{"_id":"PXAUMADNDBHGZK6F2YSK25DXNA","additional_properties":{"_id":"PEEJUKHI7FEH7GB7E7MWGMCYCY"},"type":"image"},{"_id":"S3U6NGVUVFDBDHRP6V5NJSPKRA","additional_properties":{"_id":1730468234614},"content":"The ground floor is mixed use and comprises a vacant fully fitted own-door office suite, a self-contained fitted restaurant unit and glazed standalone coffee dock situated on the boardwalk adjacent to the scheme, occupied by Café Gusto.","type":"text"},{"_id":"4U3NKLBO5ZAK7MT6QHWDDH5MSE","additional_properties":{"_id":1730468234615},"content":"Currently, the property is 80 per cent occupied, with potential to secure tenants and grow income by astute asset management. A vacant ground-floor office suite and fitted restaurant have not been marketed as available to lease, and given they are “ready to go”, they should both draw significant interest from prospective tenants given their strategic location.","type":"text"},{"_id":"3ONPHLZ4IJAZBOXXDWIVA2E7WQ","additional_properties":{"_id":"35C75BH365DSBCC6RQ5ZMVOOMI"},"content":"Irish family acquires famous Ulster Bank premises on Baggot Street","type":"interstitial_link"},{"_id":"LC6UKIQOX5DPFP3OYLYUAX5AKI","additional_properties":{"_id":1730468234616},"content":"Cork is the Republic’s second largest city and has a metropolitan population of about 220,000 people with an additional 540,000 people living in the wider county area. It is also the main commercial, retail and education centre in the south of Ireland and it has a track record of attracting global leaders in biotechnology, healthcare, communications and financial services, among other high-end sectors.","type":"text"},{"_id":"KE3SONFNAJBXTONAMYTYXSATDE","additional_properties":{"_id":1730799848655},"content":"David McCarthy, of Sherry FitzGerald Commercial, said: “The property presents a unique opportunity to acquire a substantial mixed-use investment with extensive asset management opportunities and an estimated rental value in the region of €620,000 per annum upon full occupancy.”","type":"text"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Tim O'Brien"}},"name":"Tim O'Brien"}]},"description":{"basic":"Property comprises the ground and third floors of the landmark, five-storey City Quarter development"},"display_date":"2024-11-06T06:00:00Z","headlines":{"basic":"Cork office and retail opportunity offers gilt-edged investment for €6m","native":""},"label":{"audio_project_id":{"text":"5469"}},"promo_items":{"basic":{"_id":"NGMTOLDUWVFR7F4NYP2EMFSFME","auth":{"1":"2f198c73175c534b3b6ac13b812d2808b6b33e3141d60ba1c03084b199b8cec7"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/NGMTOLDUWVFR7F4NYP2EMFSFME.jpeg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"},{"name":"Business"}]},"type":"story","website_url":"/property/commercial-property/2024/11/06/cork-office-and-retail-opportunity-offers-gilt-edged-investment-for-6m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"BAYJ2IXBJJGJXPLRXZK2QGUV7Y","additional_properties":{"audio_duration":158,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/e854543c-757d-4cd9-9e9d-0940179e42d7/versions/1730723278/media/a09d3c70c5dcbd13e708492563fec748_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/06/potential-for-boutique-guesthouse-in-trendy-dublin-suburb-of-phibsborough/","content_elements":[{"_id":"52FMBOGOKFGLNKEUHYTYV67GIA","additional_properties":{"_id":1730721971933},"content":"A refurbishment opportunity in one of the world’s “coolest neighbourhoods” has come on the market at a guide price of more than €1.6 million.","type":"text"},{"_id":"YSCLPQ2FCFHVFIHHZYV4JMKNBU","additional_properties":{"_id":1730721971934},"content":"Royal Canal House, on Phibsborough Road, <a href=\"https://www.irishtimes.com/tags/phibsborough/\" target=\"_blank\">Phibsborough</a>, <a href=\"https://www.irishtimes.com/tags/dublin-7/\" target=\"_blank\">Dublin 7</a>, is a distinguished period property that blends historical charm with modern potential, across four floors of about 505sq m (5,436sq ft) on a gross internal area. The area was dubbed by Time Out magazine as one of the world’s coolest neighbourhoods in 2020, thanks to an abundance of coffee shops, restaurants and pubs and hidden parks (this year the popular magazine opted for Inchicore). More recently, Irish pop star <a href=\"https://www.irishtimes.com/tags/gavin-james/\" target=\"_blank\">Gavin James</a> is reported to have bought the historic Doyle’s Corner bar in the suburb.","type":"text"},{"_id":"WTCZKPSMKJEP7LLVIWYFC64SEE","additional_properties":{"_id":1730721971935},"content":"According to selling agents Finnegan Menton, the property, which is being sold with vacant possession, could be renovated either in its current planning as a boutique guesthouse, or could also accommodate alternative uses, subject to planning permission.","type":"text"},{"_id":"PFNMJGERNFCINJNH6BDMMJHF5A","additional_properties":{"_id":1730721971936},"content":"The property, dating from the early Georgian era, was home to railway workers until 1948 and later converted into a hostel. In more recent years the building was in commercial use with a language school the last occupant until 2014.","type":"text"},{"_id":"J36BPZHH5ZH3TPE55MAHYPEXYU","additional_properties":{"_id":"JRRW5CPCERACDERDR2RARZPBVM"},"type":"image"},{"_id":"2FI4636YLBHTBO6NV6ITZ3D57M","additional_properties":{"_id":"YJ5Y5RP2SFEYPFSJLXA75BMJVQ"},"type":"image"},{"_id":"XYP2QOOCZBC6FKC3EIVDAOPOZE","additional_properties":{"_id":1730721971937},"content":"It features spacious accommodation throughout, with high ceilings, decorative cornices and an elegant front entrance doorway, offering excellent ample natural light all of which are an integral part of the buildings character.","type":"text"},{"_id":"CY7W7YUKFZBBDBVYSHC6K5R35I","additional_properties":{"_id":1730721971938},"content":"The property’s proximity to key city centre landmarks and institutions makes it an attractive investment for tourism purposes, and it benefits from a recent planning permission for 13 en-suite bedrooms, together with dining facilities and staff amenities. The planning requires for the refurbishment of the main property and to replace the existing single storey building to the rear. The proposed bedrooms are very large with an average size of about 238sq ft. Under proposed plans, there would be an external courtyard connecting the main property with the new extension.","type":"text"},{"_id":"UOBOU7CS4RAQ7MTZWCEPA3GISY","additional_properties":{"_id":1730721971939},"content":"The property also offers additional development potential to the side, subject to obtaining the necessary planning, expanding its footprint while maintaining its architectural integrity.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Distinguished period property Royal Canal House is on the market at €1.6m"},"display_date":"2024-11-06T05:00:00Z","headlines":{"basic":"Potential for boutique guesthouse in trendy Dublin suburb of Phibsborough","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"PTUCWH4SJRE4RBTCGKDLRB4L2A","auth":{"1":"bc7a808a69b132e8b992c98a027cee1f5273d07e667c041f160175dce756a7b2"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/PTUCWH4SJRE4RBTCGKDLRB4L2A.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/06/potential-for-boutique-guesthouse-in-trendy-dublin-suburb-of-phibsborough/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"AMTI35IXAFBVPF33K3JM6JOR3I","additional_properties":{"audio_duration":353,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/b57dd609-a4f6-4fa7-978c-d732e3a1bff8/versions/1730731999/media/080de8c50dbd6fff772ee3dc5b50d48b_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/11/06/new-shops-for-grafton-street-mango-milano-kiko-and-alo-yoga-lead-changing-of-the-retail-guard/","content_elements":[{"_id":"K4JYMVOD5ZHVBD7D56W7LN2JJY","additional_properties":{"_id":1729778633914},"content":"After some concern about footfall in the main shopping districts of the capital in the first half of this year, there are real grounds for confidence for the Christmas shopping period.","type":"text"},{"_id":"SY5RGJYWHVDPHJTIBJYLFKKAUE","additional_properties":{"_id":1729778633916},"content":"Importantly, the pipeline of international investment is looking strong, with Swiss watch retailer Swatch having recently opened on <a href=\"https://www.irishtimes.com/tags/grafton-street/\" target=\"_blank\">Grafton Street</a>. This is close to other new investors, which include US athletic footwear chain New Balance. Italian make-up store Kiko Milano just opened up on <a href=\"https://www.irishtimes.com/tags/henry-street/\" target=\"_blank\">Henry Street</a> for its first shop in the Republic. It is understood a second Kiko Milano store on Grafton Street will open early next year, in the unit formerly occupied by Claire’s.","type":"text"},{"_id":"UJ7GZ3HVTJCWNJYTIHOMJG6NLQ","additional_properties":{"_id":1729778633917},"content":"There is much excitement over the appearance at 62-63 Grafton Street of high-end yoga apparel retailer <a href=\"https://www.irishtimes.com/business/2024/09/10/alo-yoga-to-open-first-irish-store-on-grafton-street/\" target=\"_blank\">Alo Yoga</a>, a favourite of celebrities. The name of the Los Angeles-headquartered Alo is an acronym for “air, land and ocean”, and the brand is often worn by celebrities such as <a href=\"https://www.irishtimes.com/tags/taylor-swift/\" target=\"_blank\">Taylor Swift</a>, Katie Holmes, Hailey Bieber and Kendall Jenner. The company was remaining tight-lipped about its opening date this week, but it is expected to be announced shortly.","type":"text"},{"_id":"6Q3CVVQA6NGIBJRXCIBF75K62A","additional_properties":{"_id":1730729322958},"content":"While vacant outlets remain an issue on the street, more new brands continue to make their way to Dublin city centre.","type":"text"},{"_id":"TPCPSNGNAJBVJPUCISLWNFTSZ4","additional_properties":{"_id":1730729322959},"content":"Also readying a new Grafton Street shop is Spanish womenswear brand <a href=\"https://www.irishtimes.com/tags/mango/\" target=\"_blank\">Mango</a>, which continues its expansion plans in Ireland. Following its new shop in <a href=\"https://www.irishtimes.com/tags/dundrum-town-centre/\" target=\"_blank\">Dundrum Town Centre</a>, and a refurbishment of its Henry Street outlet, the fashion retailer is set to open a new shop towards the end of the street.","type":"text"},{"_id":"WJPYN6OQKBHZBDMKMRTP5CMJHA","additional_properties":{"_id":"RR65MQGDCFBWDOAX2GJA2L7FTA"},"content":"Want to live over the shops on Grafton Street? It could soon be possible","type":"interstitial_link"},{"_id":"K7ECXMYWVNCY7MTWA27KMDB7TY","additional_properties":{"_id":1729778633918},"content":"Eoin Freeney, director of retail at Colliers, is especially upbeat about the new tenant for 42 Grafton Street. The former Ted Baker outlet is a high-profile opportunity, which he says has already received five firm offers from international clients. Feeney says much of the interest has come from fashion and cosmetics retailers.","type":"text"},{"_id":"477MLY6UBVD25BSZYBJAN4YOO4","additional_properties":{"_id":1729778633919},"content":"He is also excited about the new Grafton Place/60 Nassau Street development, which includes the former House of Ireland site. Celebrated clothing and homeware brand Arket, which is owned by the Swedish group H&M, has proved to be a hugely popular draw for visitors to Covent Garden and Regent Street in London since opening for business there in 2017. It is understood to have agreed a 10-year lease for 1,021sq m (11,000sq ft) of space across the ground- and first-floor levels of Grafton Place, which will probably open in 2025.","type":"text"},{"_id":"63IBUDYD5REDRAJRLFEMVNKC2Y","additional_properties":{"_id":1730729322963},"content":"Feeney says Grafton Place provides the larger style of retail outlet, which so many investors are seeking.","type":"text"},{"_id":"7OIRDTHKPJFRRI6NSGM4PKSB7U","additional_properties":{"_id":1729778633920},"content":"On this point, Feeney would like a change to the Dublin City Council development policy which, he says, restricts retail outlets spanning several adjacent buildings.","type":"text"},{"_id":"6KOJRKD3VRFYLEUI75VJANEYZU","additional_properties":{"_id":1729778633921},"content":"He instanced the recently opened Zara store on South King Street as an example of how investors’ size requirements can grow. Spanish-owned Zara has expanded from 14,000sq ft to 33,000sq ft, after the absorption of the H&M space next door. It is now the largest fashion store in the Grafton Street area, not including department stores. “They are a good example of how retailers requirements are getting bigger,” he says.","type":"text"},{"_id":"Z5YKVO7N2ZC4VJZJVDE53ER2TI","additional_properties":{"_id":1730729322966},"content":"“There is no doubt retailers are looking to upsize and add more locations. [Dublin City Council] should consider relaxing the rules on Grafton Street planning policy,” he says.","type":"text"},{"_id":"4TROJCQV5BFQVLC4CUQ3G7AV6U","additional_properties":{"_id":"OEYFNNT4JVG5TC7PVURN3WJOQU"},"content":"Who owns Grafton Street? Wealthy Irish families and faceless funds control 119 of Dublin’s most valuable buildings","type":"interstitial_link"},{"_id":"FFWXKAIFN5FANAUQGL3KF25ERM","additional_properties":{"_id":1729778633922},"content":"EU forecasts show Ireland’s economy is expected to grow by 1.2 per cent in 2024 and 3.6 per cent in 2025, supported by an improvement in global trade, falling inflation and a strong labour market. All of which supports some optimism for the medium-term future at least.","type":"text"},{"_id":"IFEUKBK5M5DTZAZJHZIMKOCULQ","additional_properties":{"_id":1730729322968},"content":"Optimism is also evident in the Dublin Economic Monitor, a publication produced by Grant Thornton, for the four Dublin local authorities. The September issue of the Economic Monitor notes retail spending in the capital continues to increase, remaining in advance of the national trend. “Spending by consumers [in Dublin] has now risen quarter on quarter in every quarter for the last four years,” the September issue noted.","type":"text"},{"_id":"B3QFSJFFDZAZ3ALMZDO6OTDJ2I","additional_properties":{"_id":1729778633924},"content":"The relief in Richard Guiney’s voice, in response to an upturn in footfall in the city centre, is palpable. Footfall was down by about 6 per cent in June, on 2023 levels, based on year to date, he says. However, the chief executive of the business organisation Dublin Town was pleased to note that by September, the situation had improved significantly, and was down by about 2.3 per cent across the city.","type":"text"},{"_id":"VMOP7ZQPPBBI5FFABKP7C73GHM","additional_properties":{"_id":1729778633925},"content":"New hotels planned for Capel Street and Middle Abbey Street will help to rebalance the number of hotels – and their restaurants – which are currently concentrated on the southside, he adds.","type":"text"},{"_id":"4XDESJWKVJD2RBAHUJHNGGYI5A","additional_properties":{"_id":1729778633926},"content":"While recent traffic restrictions did not see an expected outpouring of anguish on the part of traders, he says visits to the city are now more for leisure and cultural reasons. “Dublin city retail will be here in the long term, but it is not the same draw that it would have been 10-15 years ago,” he says. Among the changes are going to be fewer cars being driven into the city. “There is scope to address this with more deliveries,” he says.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Tim O'Brien"}},"name":"Tim O'Brien"}]},"description":{"basic":"Despite the rise of online shopping and vacant outlets remaining an issue in the capital, the pipeline of international retail investment looks strong"},"display_date":"2024-11-06T05:00:00Z","headlines":{"basic":"New shops for Grafton Street: Mango, Kiko Milano and Alo Yoga lead changing of the retail guard","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"UU7JBIBMXJGILABI3P7BQL5G2Q","auth":{"1":"9664cc77b27d2589722a38f669c80c51a16980152d919ed9bc6535d12f562c5d"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/UU7JBIBMXJGILABI3P7BQL5G2Q.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/11/06/new-shops-for-grafton-street-mango-milano-kiko-and-alo-yoga-lead-changing-of-the-retail-guard/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"XQ76IRMD3VF7DJFDLL4WTPOR7Q","additional_properties":{"audio_duration":124,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/5469/podcasts/9be7f917-1fae-4605-8714-d24f4897682a/versions/1730815230/media/52f0f5fb37188edbcd0f93c7aee72749_compiled.mp3"},"canonical_url":"/business/2024/11/05/davy-sells-its-real-estate-arm-to-divisions-chief-executive-david-goddard/","content_elements":[{"_id":"PLTYPSNAUVHZDFYXG64AMI2WEU","additional_properties":{"_id":1730814608241},"content":"The property investment management arm of Davy Group is set to be sold to the unit’s chief executive for an undisclosed sum along with its €1.6 billion portfolio of assets, including Dublin’s St Stephen’s Green Shopping Centre.","type":"text"},{"_id":"TTX2QDM64RAX7CCQT6V76RPURA","additional_properties":{"_id":1730814608242},"content":"The transaction, which was announced on Tuesday, will see David Goddard, chief executive of Davy Real Estate, acquire the unit and operate it as a separate entity, trading as Lanthorn.","type":"text"},{"_id":"FAXE2DPFHVETRJXDVBXZC5ZNHI","additional_properties":{"_id":1730814608243},"content":"Some 16 staff are set to move from Davy to Lanthorn as part of the deal, as the group refocuses on its core capital markets advisory and wealth management businesses.","type":"text"},{"_id":"U5ECUDQE2RBSZLAX6RQE4QZIKE","additional_properties":{"_id":1730814608244},"content":"The deal is expected to conclude in November.","type":"text"},{"_id":"RXLGZTQFAZAIHP7EC2D5ZTSNZU","additional_properties":{"_id":1730814608245},"content":"Among other assets, Davy Real Estate currently manages the St Stephen’s Green Shopping Centre on behalf of clients. Many of the unit’s clients are also clients of Davy other businesses, including its wealth management division.","type":"text"},{"_id":"QY6WJLOR2ZB5NM46CMV5WGI3SQ","additional_properties":{"_id":1730814608246},"content":"The Davy unit secured planning permission for a €100 million redevelopment of the landmark retail asset from Dublin City Council late last year but a final decision has been delayed pending the outcome of an appeal to An Bord Pleanála, following a number of objections.","type":"text"},{"_id":"SC64LF7L5NC7VHH5HDPK2BWE2A","additional_properties":{"_id":1730814608247},"content":"Headquartered in Dublin, Davy Group has offices in Belfast, Cork, Galway, and London.","type":"text"},{"_id":"EGV2DRSSNNFDZKJSB6QJJDJLHY","additional_properties":{"_id":1730814608248},"content":"The group is owned by Bank of Ireland, which acquired Davy in July 2021. The original total consideration for the firm was a potential €605 million, made up of a purchase price of €440 million, a payment of €40 million to be made some time after 2025 based on certain performance targets, and €125 million to account for a significant amount of cash on the company’s balance sheet.","type":"text"},{"_id":"PLTYPSNAUVHZDFYXG64AMI2WEU","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Ian Curran"}},"name":"Ian Curran"}]},"description":{"basic":"Entity manages St Stephen’s Green Shopping Centre on behalf of clients"},"display_date":"2024-11-05T13:55:22.065Z","headlines":{"basic":"Davy sells its real estate arm to division’s chief executive David Goddard ","native":""},"label":{"audio_project_id":{"text":"5469"}},"promo_items":{"basic":{"_id":"Z7QXLQZRFBE6HCDIOGKTF2RE7I","auth":{"1":"5649749fcdaa6c73416adfab31bc221c49406c9b36d793afbd203fb35e066507"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/Z7QXLQZRFBE6HCDIOGKTF2RE7I.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Business"},{"name":"Property"},{"name":"Commercial Property"},{"name":"Markets"}]},"type":"story","website_url":"/business/2024/11/05/davy-sells-its-real-estate-arm-to-divisions-chief-executive-david-goddard/","websites":{"irishtimes":{"website_section":{"_id":"/business","additional_properties":{"original":{}},"name":"Business"}}}},{"_id":"BZDHPJ4PCFEKHDSVUJ3XX7P4BY","additional_properties":{"audio_duration":219,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/5469/podcasts/ea63c8ba-d026-4748-b36a-d7f84d79b83d/versions/1730657221/media/0327ea1ad21226fdcad0fad208f31c13_compiled.mp3"},"canonical_url":"/business/2024/11/04/technology-sector-share-of-dublin-office-take-up-shrinks-to-new-low-of-71-in-third-quarter/","content_elements":[{"_id":"PLTYPSNAUVHZDFYXG64AMI2WEU","additional_properties":{"_id":1730640040326},"content":"Take-up of Dublin office space by technology companies shrank to just 7.1 per cent in the third quarter, according to a new report by <a href=\"https://www.irishtimes.com/tags/bnp-paribas-real-estate/\" target=\"_blank\">BNP Paribas Real Estate</a> Ireland. The sector accounted for half of all business a few years ago.","type":"text"},{"_id":"ROEMUELWCNDDZADV45L3QGRNFU","additional_properties":{"_id":1730650936860},"content":"The overall office market in the capital saw some “positive momentum” during the three months to the end of September, though the tech sector remained moribund, its analysis found.","type":"text"},{"_id":"EBF5ASKJC5GPBL2L5PUPIW6XGQ","additional_properties":{"_id":1730650936861},"content":"A total of 47,926 q m of purpose-built office space was taken up, an increase of 66 per cent year-on-year. This was marginally above the long-term average for the third quarter. Some 47 transactions were completed, slightly up on the 44 that were completed in the same quarter in 2023.","type":"text"},{"_id":"DUBRD7OUAFC2HOYM7HGS4AGS4E","additional_properties":{"_id":1730650936862},"content":"This consolidated an improvement seen in the second quarter and came amid strong demand from the financial and professional services sectors, BNP Paribas Real Estate director of research John McCartney said.","type":"text"},{"_id":"XDJMZ4T46RFC7ETOQJS42BHYKU","additional_properties":{"_id":1730650936863},"content":"But Dublin still has one of the highest office vacancy rates among European cities. The vacancy rate edged up from 15.2 per cent as of the end of June to 15.7 per cent at the end of the third quarter, while the tech sector remained relatively inactive.","type":"text"},{"_id":"CCD4V362CNC7HD4NX56PAFQVSQ","additional_properties":{"_id":1730650936864},"content":"Between 2017 and 2021 the information and communications technology sector accounted for 51 per cent of all Dublin office take-up, with many of the world’s biggest tech companies consolidating their operations and growing their staffing levels in the Irish market. But the sector’s share of Dublin office take-up has only averaged 22 per cent since the start of 2022, and in the third quarter it fell to its lowest share since the start of BNP Paribas Real Estate’s records, accounting for just 7.1 per cent of the pie.","type":"text"},{"_id":"D3DOI2DSRNGUTMDKGGVFM2ON4A","additional_properties":{"_id":1730650936866},"content":"Across the market the average transaction size rose from 655sq m to 1,020sq m in the third quarter compared to the same period in 2023. However, only one deal of more than 5,000sq m was done: a 12,396sq m lease assignment from LinkedIn to EY at Two Wilton Park.","type":"text"},{"_id":"U3H7HHJTMVAKNEX4IPAEW7CJIY","additional_properties":{"_id":1730650936867},"content":"“This compares with a long-term average of three such deals per quarter, and likely reflects the continued inactivity of global tech occupiers in the current market,” said Mr McCartney.","type":"text"},{"_id":"FW4IUSCB4RDCFIRCI5ZNBI7LLI","additional_properties":{"_id":1730654392740},"content":"The report said that nearly half of the space taken up in the third quarter was accounted for by sub-lets/assignments which did not reduce overall vacant space.","type":"text"},{"_id":"BX6242CDUNDYHE7LAFO3LPSKLA","additional_properties":{"_id":1730650936868},"content":"It noted that tech employment in Dublin rebounded by 11.3 per cent in the first half of 2024, hitting an all-time high of 94,200 jobs in June. Although this is not yet reflected in the leasing statistics, the growth “should naturally support office demand” in the longer run.","type":"text"},{"_id":"TGBT6BHLXBASFMZL32RXSKW22Q","additional_properties":{"_id":1730650936869},"content":"But a stalling in post-Covid return-to-office policies may hurt demand, it adds, citing Central Statistics Office figures showing 58 per cent of workers in the ICT sector spend most of their time outside the office.","type":"text"},{"_id":"KQNVFKSKQRGUPPHRIAUSDD6OQ4","additional_properties":{"_id":1730640040341},"content":"“The ongoing improvement in take-up is an important first step towards a market recovery,” Mr McCartney said. “However, with a significant pipeline of new space already under construction, vacancy is likely to tick-up further in the short-term, keeping pressure on rents.”","type":"text"},{"_id":"PLTYPSNAUVHZDFYXG64AMI2WEU","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Laura Slattery"}},"name":"Laura Slattery"}]},"description":{"basic":"Vacancy rate overall edged higher in the third quarter, despite ‘positive momentum’ for leases, says BNP Paribas Real Estate Ireland report"},"display_date":"2024-11-04T06:00:00Z","headlines":{"basic":"Technology sector share of Dublin office take-up shrinks to new low of 7.1% in third quarter","native":""},"label":{"audio_project_id":{"text":"5469"}},"promo_items":{"basic":{"_id":"CFMCEQLQT4NH2F4YX3QRGWUECQ","auth":{"1":"8a253008d30de46d2e289537f49e1d474c73cc5e8fe420d6a71f30e35b92e812"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/CFMCEQLQT4NH2F4YX3QRGWUECQ.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Business"},{"name":"Property"},{"name":"Commercial Property"}]},"type":"story","website_url":"/business/2024/11/04/technology-sector-share-of-dublin-office-take-up-shrinks-to-new-low-of-71-in-third-quarter/","websites":{"irishtimes":{"website_section":{"_id":"/business","additional_properties":{"original":{}},"name":"Business"}}}},{"_id":"RXTQYUUFEFCSHFJCTOQWUNBW3Q","additional_properties":{"audio_duration":98,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/27fcf337-0824-47b2-9909-94c351cde188/versions/1729873260/media/887770b29a64ac858b80437efd28d061_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/30/ratoath-residential-site-with-scope-for-57-apartments/","content_elements":[{"_id":"NRTJRO5UDVHHFINNYPISK2K4MQ","additional_properties":{"_id":1729862974983},"content":"A site with planning permission for the development of 57 apartments and three retail units has come to the market in Ratoath, Co Meath, at a guide price of €1.5 million.","type":"text"},{"_id":"7ZJGODWFQVFVVJWU2GEBPNOGAI","additional_properties":{"_id":1729870922412},"content":"The development site, brought to market by Knight Frank, is in the town centre and extends to about 1.04 hectares (2.57 acres). It is located at the junction of Meadowbank Hill and Fairyhouse Road, 200m from the main street and within walking distance of several primary and secondary schools.","type":"text"},{"_id":"FUW33WZIJFGIHE5RYXCG7NYZOU","additional_properties":{"_id":"AF4POYZTTJBCBJ4EA3YJP6IP3U"},"type":"image"},{"_id":"4SGVUNUL7NGH5GR4S7OHHFUUFA","additional_properties":{"_id":1729870922413},"content":"In September 2021 An Bord Pleanála granted planning permission for the development of 57 apartments, three retail units, a restaurant and a healthcare centre on the site. The proposed development consists of two blocks separated by a central plaza. The first block comprises the commercial accommodation, while the second, E-shaped, block comprises the residential accommodation.","type":"text"},{"_id":"ESOA7F6O3FACHO2RUY2CKLZZTA","additional_properties":{"_id":1730202473418},"content":"Vehicular access is from Fairyhouse Road and car parking is provided for in a partial basement, undercroft, and at surface level.","type":"text"},{"_id":"VCAJP2W6ENBSBI7TXI37XG7B5M","additional_properties":{"_id":1729870922415},"content":"The site falls under the Meath County Development Plan 2021-2027. Under the plan, most of the site is zoned B1 commercial town or village centre, the balance F1 open space.","type":"text"},{"_id":"P76GOMKSKZE5VP7TEO4IQDEIWY","additional_properties":{"_id":1730241016580},"content":"M3 Parkway Park and Ride facility is within 9km, providing regular commuter train services to Dublin city centre. In addition, both the M2 and M3 motorways are easily accessible, and Meath remains a popular location with first time buyers and traders-up alike.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"€1.5m Co Meath development site is situated in town centre, within walking distance of schools"},"display_date":"2024-10-30T05:00:00Z","headlines":{"basic":"Ratoath residential site with scope for 57 apartments","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"DVKHBMVP6FA5BGBYYONOARDW5I","auth":{"1":"1a063707fc460eac50c4ac3eb1a27c28803bcf40bc067ca4e0e0146927064063"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/DVKHBMVP6FA5BGBYYONOARDW5I.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/30/ratoath-residential-site-with-scope-for-57-apartments/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"ZAY3ZNPGWZBCXK757IE3AM5OBE","additional_properties":{"audio_duration":137,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/77ee2667-608d-43d3-878a-d62ee39ab553/versions/1729244967/media/49a42bae1d0caf2b3b639ae04e4d3a03_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/30/want-to-live-over-the-shops-on-grafton-street-it-could-soon-be-possible/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1728986121956},"content":"Fancy living over the shop on <a href=\"https://www.irishtimes.com/tags/grafton-street/\" target=\"_blank\">Grafton Street</a>? And enjoying a sundowner on your own private roof terrace overlooking the busy shopping street?","type":"text"},{"_id":"M2TJQYYFOZBMPEQL5LSZ6RP7UI","additional_properties":{"_id":1729242208701},"content":"Well, it could soon be a possibility thanks to an application from the developers of 4-5 Grafton Street, who have applied to change the use of the upper floors of the properties from commercial to residential.","type":"text"},{"_id":"TQRU3RER45AADI6YPPFF43MT2I","additional_properties":{"_id":1730240975531},"content":"The buildings were acquired by Brian McKiernan, a former chief executive of stockbrokers Davy, and Emer McKiernan along with a number of partnerships, back in 2023.","type":"text"},{"_id":"KHFKHR5POZFNJNLJYULUSP37FY","additional_properties":{"_id":1728993431214},"content":"Now, according to a planning application, the proposed development will consist of two one-bedroom units, and two three-beds, as well as changing access areas to residential use. Plans also include a single-storey rooftop extension, as well as the creation of a private roof terrace at No 5, to serve unit 5b.","type":"text"},{"_id":"FPQMPCIBHRD55AJ2CFOKUQH6NU","additional_properties":{"_id":1728993431215},"content":"The proposed development is to utilise space overhead a unit formerly occupied by fast-food outlet Abrakebabra (likely to be replaced by KFC according to planning applications) and jewellery retailer Swarovski. The units are located at the start of the pedestrianised zone, close to Grafton Street’s intersection with Nassau Street.","type":"text"},{"_id":"76B6MG5ZCRFUHMVYWXFAPYYF5I","additional_properties":{"_id":1729242208704},"content":"According to the planning application, the proposals “provide for a high-quality residential development within an existing underutilised property, located in the city centre, within close proximity to existing services and public transport links”.","type":"text"},{"_id":"FRPGNA2NFVG6XGZUPMHN55XOIY","additional_properties":{"_id":"EOSHJZ4YRJDZLCI3K3PQKW4OCU"},"content":"Grafton Street’s story: How a downbeat country lane became an upmarket home for A-listers, hotels, Turkish baths and shops","type":"interstitial_link"},{"_id":"K57XAHT5PVA7HEN7U7KC42L3EA","additional_properties":{"_id":1728993431217},"content":"The units came to the market in March 2023 as part of the Grafton Port Collection, which was available in three lots for a combined price of €16 million. No 4 and 5 were available in one lot for offers more than €8.7 million. At the time, the upper floors comprised vacant office space of 238sq m (2,562sq ft).","type":"text"},{"_id":"HYMBADAISVFS5DAMTQTPTYQ5EA","additional_properties":{"_id":1728993431221},"content":"While changing vacant retail/office space has often been cited as one possible route to increasing housing stock, the costs of redevelopment can be significant. It can work, however – Tuath Housing recently converted offices at the Plaza Building in Park West Business Park Dublin 12, delivering 86 social housing homes in the process.","type":"text"},{"_id":"4ISGVKFPRVBS5HFEYEF6IGWYX4","additional_properties":{"_id":1730240975538},"content":"There have been objections to the Grafton Street plans however, with a number of observations arguing that people living on the street is “out of the norm”, and against the street’s “cultural heritage”, and might negatively impact on the street’s reputation for busking/night-life.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Plans submitted for apartments over Abrakebabra and Swarovski on Dublin’s busy shopping street"},"display_date":"2024-10-30T05:00:00Z","headlines":{"basic":"Want to live over the shops on Grafton Street? It could soon be possible","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"X4F2RNPMLNFQHLWTIPSSYSNILE","auth":{"1":"5fdbd9e7f10c6fcb26245a3d09be0df19581ffe78844123287774515f1b39cac"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/X4F2RNPMLNFQHLWTIPSSYSNILE.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/30/want-to-live-over-the-shops-on-grafton-street-it-could-soon-be-possible/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"QQBFX3I3ENEO7GPPXJRWRZT3ZA","additional_properties":{"audio_duration":111,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/bb2dff37-0f08-4170-ae97-208a2b1e2852/versions/1730126796/media/7603dfc58c11030e52d4bfae9bb2d250_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/30/urbeo-makes-fresh-move-into-logistics/","content_elements":[{"_id":"RYOYTB56GNCTNOIE6TS2X45DVM","additional_properties":{"_id":1730124973048},"content":"Urbeo, the privately owned Irish investment platform, has made its first move out of the residential sector, acquiring a Dublin logistics facility in partnership with ICG Real Estate, a UK-based asset manager. It’s understood that the duo paid about €27 million in an off-market transaction for the facility in Kilcarbery Distribution Park.","type":"text"},{"_id":"QJ6XDTJ7GRA2LESVO37YU32H4U","additional_properties":{"_id":1730124973049},"content":"The 215,000sq ft prime logistics facility at Unit F, Kilcarbery Distribution Park, is situated in southwest Dublin, between the N7 and N4 motorways. It was acquired from a private Irish investor and is expected to offer strong value-add and reversionary potential for the new owner, with all existing tenancies due to expire within 24 months.","type":"text"},{"_id":"ZTR4JYBGKFAP3JMENZUCHJ2UTA","additional_properties":{"_id":1730124973050},"content":"The building, constructed in the early 2000s, is currently multi-tenanted, with PRL Group and JMC Van Trans occupying the circa 185,000sq ft of logistics space. The property is located in the desirable logistics N7/N4 corridor, with excellent access to regional transport routes.","type":"text"},{"_id":"WYOVWWPDDFD3DCCQNMPBU7GPFE","additional_properties":{"_id":1730124973051},"content":"The acquisition is thought to be Urbeo’s first non-residential property acquisition. Founded in 2018, it has an extensive residential property portfolio, and through its U by Urbeo brand, has delivered more than 2,000 build-to-rent homes in Dublin. It plans to continue to grow its residential portfolio, as well as expanding this model into other asset classes.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Property investor acquires prime Dublin facility in partnership with ICG Real Estate"},"display_date":"2024-10-30T05:00:00Z","headlines":{"basic":"Urbeo makes fresh move into logistics","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"BF6XXYVTE5E25GIANFIRCGGNS4","auth":{"1":"8c78819bab666a4983aaf53d6f4fc5bd7495d14f7832efb2378fb31ff9d81a88"},"focal_point":{"x":832,"y":362},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/BF6XXYVTE5E25GIANFIRCGGNS4.JPG"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/30/urbeo-makes-fresh-move-into-logistics/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"FCIVLQDK3ZB2BAOQLKZ5BVMBG4","additional_properties":{"audio_duration":366,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/d52cf7dc-0d32-4711-9279-cacc91e4a749/versions/1730139027/media/64bc6d6c01c2c4666e51ffb507991b23_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/30/dublins-office-market-driven-by-demand-for-space-with-esg-credentials/","content_elements":[{"_id":"ANHC6QTATVCIRBV5VDGTWURKIY","additional_properties":{"_id":1729755167104},"content":"The increasing shift to a clear preference for ESG (environmental, social, and governance) space underscores the importance occupiers place on being environmentally conscious and acquiring sustainable properties, presenting an increasingly compelling opportunity for both investors and occupiers.","type":"text"},{"_id":"T5VIPV7YQFHTRN4ACISAY2275Q","additional_properties":{"_id":1730134181060},"content":"Demand among occupiers for sustainable and amenity-rich buildings has strengthened considerably in recent years, and has accelerated in 2024.","type":"text"},{"_id":"JV2ONY346VELPFGI5NO37MVGZ4","additional_properties":{"_id":1729755167105},"content":"Total office occupier take-up for the year to date has reached 1.679 million sq ft – in excess of the total signed throughout 2023.","type":"text"},{"_id":"526YENTEURDHNCWR4SZNE2MEGQ","additional_properties":{"_id":1729755167106},"content":"Of the total space taken year to date, 66 per cent had ESG credentials. In the city centre market, occupier preference for space with ESG credentials has become even more pronounced, making up 72 per cent of total city centre office space taken since January.","type":"text"},{"_id":"FDUYWW76DJHPVLDXZGQSBODLUQ","additional_properties":{"_id":"LP5Y6C4BIJGGRB6ZTPCI6FCNBI"},"content":"Stripe weighs deal for new Dublin headquarters at Wilton Park","type":"interstitial_link"},{"_id":"444UCHU2BJCCLEZK3RGIND55DU","additional_properties":{"_id":1729755167107},"content":"Overall, take-up is being driven by a number of high-value-adding sectors (professional services; technology, media and entertainment or TMT; and financial services) which continue to experience strong employment growth. Companies in these sectors are aligning their occupier requirements to their strategic objectives, with real estate ESG criteria increasingly at the top of the agenda. Coupled with a tight labour market, staff retention and the provision of workplace amenities and services further compound this trend.","type":"text"},{"_id":"XG6NXMLRK5EPNPUHJTQIAJLPZM","additional_properties":{"_id":1729755167108},"content":"The professional services sector has been very active, with EY’s decision to take in excess of 130,000sq ft of space at Two Wilton Park, in Dublin 2, representing the largest deal that completed in the third quarter. The space at Wilton Park, that will be occupied by EY for its new headquarter offices, has LEED (leadership in energy and environmental design) Platinum certification.","type":"text"},{"_id":"T5KOBRVPZNEJ7PRJRFQK74OQSI","additional_properties":{"_id":1729755167109},"content":"The tech sector has also been active in 2024, taking 25 per cent of overall space. Stripe’s decision to occupy 156,000sq ft at One Wilton Park (LEED Platinum space) was the largest deal in that sector.","type":"text"},{"_id":"EA2IUANXRJBVLAJ3JS7XUHX5GY","additional_properties":{"_id":1729755167110},"content":"BNY Mellon has taken 79,000sq ft of LEED Platinum space at the Shipping Office in Dublin 2, which was the largest deal in the financial services sector.","type":"text"},{"_id":"WBPJEPXUSRDIFGDCGO7YJOQCTQ","additional_properties":{"_id":"FRYNATE4N5ATNAZQM6DPPR55NI"},"content":"Dublin office market shows signs of life - but it is still too early to call a market recovery","type":"interstitial_link"},{"_id":"UZ2FTRBIIBDJLCQQVUJ3ASI7YQ","additional_properties":{"_id":1729755167111},"content":"The Health Service Executive’s decision to take 182,340sq ft of space at the Seamark Building in Dublin 4 was the largest deal of the year to date and, once again, involved space with LEED Platinum certification.","type":"text"},{"_id":"CCPCLZAIMNA4JIC7KBEL3XQMDM","additional_properties":{"_id":1729755167112},"content":"Knight Frank expects total take-up for 2024 to reach between two million and 2.2 million sq ft, with a strong reserved pipeline in place coming into the final quarter of the year. Much of the reserved space is for new ESG-certified space (such as Workday’s decision to agree to take just over 400,000sq ft of LEED Platinum space at College Square).","type":"text"},{"_id":"HEUR764PLVATVF7XVVEC77PBSE","additional_properties":{"_id":1729755167113},"content":"The increasing shift to a clear preference for ESG space underscores the importance occupiers place on being environmentally conscious and acquiring sustainable properties, presenting an increasingly compelling opportunity for both investors and occupiers.","type":"text"},{"_id":"35XPPAWMWBDN5I3EKX5IBPSTYI","additional_properties":{"_id":"I5LKPCQTL5BVJBIOVUWR6MIY5I"},"content":"EY Ireland narrows search for new Dublin HQ down to final two","type":"interstitial_link"},{"_id":"5CCS2CF6KNAGDFHKZH3BYCQQ2U","additional_properties":{"_id":1729755167114},"content":"This shift is expected to accelerate further over the coming quarters and to become an embedded feature when occupiers are undertaking their office searches. At this point in the market cycle this is a demand-led dynamic, but over the next 12 months it will become supply-led.","type":"text"},{"_id":"LWDBGRZWTJF2TB7DXABA42MRMQ","additional_properties":{"_id":1729755167115},"content":"This is becoming evident from movements in the components that make up the vacancy rate. Deals for new space, along with the absorption of grey space with ESG credentials, are having a positive impact on the overall market vacancy rate, which fell to 15.1 per cent at the end of Q3, down from 15.9 per cent at the end of Q2.","type":"text"},{"_id":"NNIITFRQMJDGBJ4D2WXRIZIJMU","additional_properties":{"_id":1729755167116},"content":"The overall vacancy rate has now peaked for this cycle (in Q2), which we forecast that it would in 2024, and while it may increase slightly from the Q3 level by year end, as new space which is due to complete and that is not pre-let adds to the overall space available, it will not go back up to where it was earlier in the year. The vacancy rate will be on a clear downward trajectory in 2025.","type":"text"},{"_id":"VMROQNFFYRE3FFAHWE6GUD3CEU","additional_properties":{"_id":1729755167117},"content":"Vacancy for ESG-accredited space in the city centre continues to fall even further, particularly in Dublin 2 which we forecast will reach a low single-digit vacancy rate by the middle of 2025.","type":"text"},{"_id":"VXSN657ZJBE2FM3WE23VOSVJL4","additional_properties":{"_id":1729755167118},"content":"What of the older space?","type":"text"},{"_id":"BFM7SNK6NBGDROPOQXYFQDAF7Y","additional_properties":{"_id":1729755167119},"content":"Given the high proportion of demand that is transacting for ESG space, the pool of potential demand for the rest of the office space is shrinking and this will continue to be the case. Occupiers with smaller-deal size requirements, and also those looking for shorter terms, will still have an interest in non-ESG-accredited space, in the short term. As these companies either expand or consolidate their business strategies to include ESG considerations, they too are expected to become active in searches for ESG space with more amenities.","type":"text"},{"_id":"BSJTQQFDYFDJHLV32SWXZBKG5I","additional_properties":{"_id":"AETJPZTM7NEIZBECRC22BD336U"},"content":"Starwood shows Dublin office market still struggling","type":"interstitial_link"},{"_id":"KPJUX24L3FCJJHNTBM23AKWCGU","additional_properties":{"_id":1729755167120},"content":"The impact of these market dynamics is that prime rents have remained steady throughout 2024 and will move up in 2025, with more significant increases expected in 2026.","type":"text"},{"_id":"CXACYMI3QJFMHFGX4CO6GCONDQ","additional_properties":{"_id":1729755167121},"content":"Beyond 2026, given current market dynamics, supply constraints will severely limit the ESG options for occupiers, not only putting upward pressure on rents, but running the risk of leaving the Dublin market in an uncompetitive position versus other European and UK city markets.","type":"text"},{"_id":"YTUQECF6AVDRVD4UTQDLWGVWMU","additional_properties":{"_id":1729755167122},"content":"<i>Joan Henry is chief economist and director of research with Knight Frank Ireland</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"Joan Henry"}]},"description":{"basic":"Shift from older buildings to sustainable alternatives is supporting prime rents and driving down vacancy rates"},"display_date":"2024-10-30T05:00:00Z","headlines":{"basic":"Dublin’s office market driven by demand for space with ESG credentials","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"WQ2JMGRTN5HIHBXW2EAZJHHXII","auth":{"1":"b6b21eb3e58826666763755a2635291e25fe9724c3a923c592120cf6a4fe5f41"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/WQ2JMGRTN5HIHBXW2EAZJHHXII.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/30/dublins-office-market-driven-by-demand-for-space-with-esg-credentials/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"AFVVCEXIYRBTPAYJMTXJYWEDXY","additional_properties":{"audio_duration":168,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/1b70f6ff-1d9b-439a-a9d8-30f06a649536/versions/1730206994/media/06b222af47e2fa0c74a36684c1351b8f_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/30/irish-family-acquires-iconic-ulster-bank-premises-on-baggot-street/","content_elements":[{"_id":"2WXHDI2M6ZDZJFANAVVSUYL27I","additional_properties":{"_id":1730203616606},"content":"The property investment vehicle of former Jones Engineering boss Jim Curley has acquired a historic building on Lower Baggot Street, as part of a substantial redevelopment plan in the area.","type":"text"},{"_id":"IW6TT2CHNBGEDK76R77T2CQHJA","additional_properties":{"_id":1730203616607},"content":"Astogo Holdings, the property investment vehicle of Jim and Janet Curley and their family, acquired the former Ulster Bank premises at 130 Lower Baggot Street, in the prime quarter of Dublin 2. The iconic premises of about 8,500sq ft had been on the market with a guide price of more than €2.25 million. It is understood to have transacted at slightly over guide.","type":"text"},{"_id":"7KSVCF3S7VACDEU4ORU5UC63BE","additional_properties":{"_id":1730203616608},"content":"The former bank building has a very strong corner profile onto Lower Baggot Street. Due to its highly attractive features and architectural merit, it is a protected structure.","type":"text"},{"_id":"6NQRPUVCRVD5DJTMJMZYDNDWMM","additional_properties":{"_id":1730203616609},"content":"In addition to the former bank premises, the family also acquired the three adjoining properties on Lower Pembroke Street on an off-market basis, again through their agent Robert Corrigan of Browne Corrigan Chartered Surveyors.","type":"text"},{"_id":"YS7F6UFFKFGI3EB5AZWDP5IH3A","additional_properties":{"_id":"VOXB2E6WVFBJDPAJA6NXTJRRHE"},"subtype":"pullquote","type":"quote"},{"_id":"YXRFPFVGNFFRXGGVVT34NBPRX4","additional_properties":{"_id":1730203616611},"content":"These two-storey buildings benefit from an existing planning permission for demolition and redevelopment of a ground floor commercial space, with apartments overhead. One of them had been occupied by the well-known pub agent and auctioneer John Younge until recently.","type":"text"},{"_id":"JFA3IMVNMBE5HC2HARXJPKD6BY","additional_properties":{"_id":1730203616612},"content":"It is understood that the Curley family, who are understood to hold an extensive mixed commercial and residential real-estate portfolio, are likely to seek a new combined planning application across their entire holding.","type":"text"},{"_id":"CQCGWKPSNFG7TK5WSWKUJQG5X4","additional_properties":{"_id":1730203616613},"content":"In the meantime, while planning is being investigated, the properties will be let on a short-term basis. The former bank premises is already in use by the Architectural Association of Ireland for its annual exhibition, which runs until November.","type":"text"},{"_id":"BGC3L3LCABA5VH7MYVVAMU6AU4","additional_properties":{"_id":1730203616614},"content":"Mr Curley was chief executive of Jones Engineering Group from 1978 until the sale of the company in 2022. Jones Engineering, which was a mechanical, electrical and fire protection contractor, was also involved in the construction of data centres. It was acquired by Texas-based investment firm Cathexis for a sum understood to be in excess of €1 billion, in the summer of 2022. Mr Curley was the company’s second-largest shareholder at the time.","type":"text"},{"_id":"FHBAMC6HMRESBLB2Y2ZVU2RXDE","additional_properties":{"_id":1730203616615},"content":"Through Astogo, he has been building up a sizeable property portfolio, with his recent acquisitions including an <a href=\"https://www.irishtimes.com/business/commercial-property/engineering-boss-acquires-birthplace-of-irish-revolutionary-joseph-plunkett-1.4676964\" target=\"_blank\">historic building</a> on Upper Mount Street in Dublin.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Investment vehicle of Jim and Janet Curley also acquired neighbouring property with plans to redevelop site"},"display_date":"2024-10-30T05:00:00Z","headlines":{"basic":"Irish family acquires famous Ulster Bank premises on Baggot Street","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"54JDW5N3JNHHXEEO3EWOS4UHRY","auth":{"1":"ef4d230943926a8996336fbb86f87a3cbdf21fd997648e4758dfdfea6eb7aa1a"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/54JDW5N3JNHHXEEO3EWOS4UHRY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/30/irish-family-acquires-iconic-ulster-bank-premises-on-baggot-street/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"RILKMJIVH5E47M47RBIISSLPGY","additional_properties":{"audio_duration":151,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/2cacf5e0-f859-4c45-b92d-e6cbd47c225d/versions/1729509168/media/e532a22cd6212da3134f224083da5330_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/23/bianconi-development-sends-message-on-green-building-design/","content_elements":[{"_id":"MA5HDNXPXVD43HSBU2Z4HHPZXQ","additional_properties":{"_id":1729256626535},"content":"A warehouse and office headquarters is expected to garner great interest from image-conscious domestic and international occupiers alike.","type":"text"},{"_id":"VPKGYHTCWZFZ3HWTVVQLOLTSCU","additional_properties":{"_id":1729256626537},"content":"Delivered by Con McCarthy’s Sandymark, 2021 Bianconi Avenue at Citywest Business Campus entrance aims at best-in-class logistics and office accommodation, with some 9,158sq m (98,576 sq ft) of space on a substantial 5.34-acre site.","type":"text"},{"_id":"B3DQ3UFGINHCVN4HBVDAEKRWDY","additional_properties":{"_id":1729502863346},"content":"Sandymark is finalising construction tenders at present, with an anticipated completion date of the fourth quarter of 2025. Joint letting agents Harvey and JLL are quoting annual rent of €1.42 million, exclusive of outgoings.","type":"text"},{"_id":"KWCTFZLOHRG43E6QR2KLJ3LWDQ","additional_properties":{"_id":1729502863347},"content":"Once complete, the property will be on a prominent site with an excellent profile to the N7 – the State’s second busiest road.","type":"text"},{"_id":"KFOYNOJYSFCRNLM23Z3LLJOT3Q","additional_properties":{"_id":1729256626538},"content":"This is truly a large-scale warehouse, and it is rare for a property to have such a prominent profile on to the N7, as well as being on a generous corner site at the entrance to the Citywest Business Campus.","type":"text"},{"_id":"F7QRZWHBJBCD5LJHHG3MZAJKRY","additional_properties":{"_id":1729256626539},"content":"This section of the N7 is the State’s second-busiest road, while it is just minutes from the M50, which is the busiest road. The position gives the development impressive and fast access to both Dublin and the regions.","type":"text"},{"_id":"5JAOGWVQORDD5EYH7QCKVPKGO4","additional_properties":{"_id":1729256626541},"content":"The unit is to have the benefit of 10 dock levellers, two level access doors and a 13m clear internal height.","type":"text"},{"_id":"3WJVOBSZ5FGVFOT6YML7QRSA2Q","additional_properties":{"_id":1729256626542},"content":"The facility is expected to achieve Leed Gold and Ber A3 energy rating. The Leed ‑ Leadership in Energy and Environmental Design – accreditation has become a global standard for green building design and construction since its inception in the US.","type":"text"},{"_id":"43RG35H3W5EFZIB6SCQ3VUXYPE","additional_properties":{"_id":1729256626543},"content":"Philip Harvey, of Harvey, stressed the importance of the site with its access to all the main arterial routes occupiers will require.","type":"text"},{"_id":"EBHRL4VFPNF5RCOUQUC7T2OBHU","additional_properties":{"_id":1729495798750},"content":"“The building provides a rare opportunity for an occupier in pursuit of a high-profile warehouse & office facility, with unrivalled branding opportunities to the N7,” he said. “The scheme itself is home to many leading occupiers, and offers a managed, secure setting for any prospective tenant.”","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Tim O'Brien"}},"name":"Tim O'Brien"}]},"description":{"basic":"Citywest Business Campus warehouse and office headquarters available to let for €1.42m"},"display_date":"2024-10-23T04:00:00Z","headlines":{"basic":"Bianconi development sends message on green building design","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"JQ5QLU2PWBDP5ESKJ77GQP5KFE","auth":{"1":"203d653ea88a608be7a5a2b45334a8a6db94c262a6c85423fefc05fd5c4877ae"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/JQ5QLU2PWBDP5ESKJ77GQP5KFE.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/23/bianconi-development-sends-message-on-green-building-design/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"SGTLECWNUJB6DCZBANMBZG3EME","additional_properties":{"audio_duration":93,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/44a974bc-1921-42ce-bab4-09f5fef6811d/versions/1729172782/media/0102eece314f9026cfcceac09a11e6d2_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/23/hq-opportunity-in-historic-building-on-dublins-south-william-street/","content_elements":[{"_id":"RVB4W5WPZZBXBKIX7V6BHTRI5M","additional_properties":{"_id":1729170982535},"content":"Businesses looking for a new home in a central <a href=\"https://www.irishtimes.com/tags/dublin/\" target=\"_blank\">Dublin</a> location may be interested in 61A South William Street, which has just come to the rental market following a full refurbishment and upgrade.","type":"text"},{"_id":"66TOCOYQWFDIZMBWQXFOH4FBBA","additional_properties":{"_id":1729170982536},"content":"Available to let either as a single HQ opportunity or multi-let, the building, which was previously home to AA Ireland, provides 8,270 sq ft over five floors. A typical floor is 2,260 sq ft. The owners are targeting a Ber of A3.","type":"text"},{"_id":"ROZSIVH3YVALRP4BG2VPVNR3HU","additional_properties":{"_id":1729170982537},"content":"According to Buildings of Ireland, the property was built around 1765 and was formerly part a of three-bay house. It describes the building as “one of the better examples of 18th-century architecture on this historic street”.","type":"text"},{"_id":"4ISQCKOPXJATTLNM73AGTVJNBY","additional_properties":{"_id":1729170982538},"content":"Willie Dowling, of leasing agents’ <a href=\"https://www.irishtimes.com/tags/colliers/\" target=\"_blank\">Colliers</a>, said: “The location offers everything that companies and employees want: access to public transport, incredible amenities at your doorstep and is within easy walking distance of all of Dublin’s traditional business addresses such as <a href=\"https://www.irishtimes.com/tags/st-stephen-s-green/\" target=\"_blank\">St Stephen’s Green</a> and <a href=\"https://www.irishtimes.com/tags/fitzwilliam-square/\" target=\"_blank\">Fitzwilliam Square</a>.”","type":"text"},{"_id":"7A77ZAJVIZFPBN4KRDDNAMFRFI","additional_properties":{"_id":1729170982539},"content":"The agents are quoting a competitive rent of €45 per sq ft and it’s a new lease agreement.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Rent is competitive at €45 sq ft in refurbished building that dates from 1765"},"display_date":"2024-10-23T04:00:00Z","headlines":{"basic":"HQ opportunity in historic building on Dublin’s South William Street","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"4TV363YDYFDQFEG24KEV6JEK2A","auth":{"1":"75034ab2251d502c2d291b1d67c075ebfed3feefccdbac199a20cc2b474f715a"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/4TV363YDYFDQFEG24KEV6JEK2A.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/23/hq-opportunity-in-historic-building-on-dublins-south-william-street/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"PB3URNUFFZDNBN4YN3HABNC3MQ","additional_properties":{"audio_duration":119,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/70064b13-c54f-4501-bf89-3bd559c33a8b/versions/1729240620/media/ae6d4da28ef9264360434666794f078e_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/23/prime-dublin-city-centre-redevelopment-site-for-35m/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1729182804896},"content":"Investors looking for a prime development site in Dublin city centre might be interested in the launch of a 0.11-hectare site near<b> </b>Bolton Street TUD. Zoned Z4, the site can be redeveloped for possible uses including residential, office, student accommodation, hotel or medical, subject to planning permission.","type":"text"},{"_id":"IFSP2AUZCFDHPFGHRNQHVNPCKI","additional_properties":{"_id":1729186923106},"content":"The site, at the former Kings Stationers on 54 Bolton Street, and Ardiff Mahon Printers on Yarnhall Street, as well as a vacant plot at 55 Bolton Street, is coming to the market with an asking price of some €3.5 million through Eoin O’Neill Property Advisors.","type":"text"},{"_id":"QSEJDCJWTFFITN6LBE2P7AHTVA","additional_properties":{"_id":1729185746709},"content":"The total site area is about 1,100 sq m (0.27 acres) and is zoned Key Urban Villages and Urban Villages – Zone Z4, to provide a range of retail, commercial, cultural, social and community functions that are easily accessible by foot, bicycle, or public transport. This in line with the urban planning concept of the 15-minute city, whereby everyday facilities and services are easily accessible.","type":"text"},{"_id":"DWMJ67IRJRCEDIEURUPHANAZOE","additional_properties":{"_id":1729186923108},"content":"The plot comprises of the former Kings Stationers building, at 53-55 Bolton Street, which is a three storey building built in the mid-1980s, and has total accommodation of about 1,250 sq m; 55 Bolton Street, a vacant plot of some 201 sq m; and 2-3 Yarnhall Street, which was the former home of the Ardiff Mahon Printworks, and was built around 1923. It offers total accommodation of some 972sq m.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Close to colleges including Bolton Street and Grangegorman, the site might suit a student accommodation development"},"display_date":"2024-10-23T04:00:00Z","headlines":{"basic":"Prime Dublin city centre redevelopment site for €3.5m","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"5DC6MN5Q7FELDB27CVIUQZU7DY","auth":{"1":"8f9501357a466a338359247c6f0b13cb437282d16136d4a6056db5b284795c4e"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/5DC6MN5Q7FELDB27CVIUQZU7DY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/23/prime-dublin-city-centre-redevelopment-site-for-35m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"IHGVXTZSUBBANB65ZDOSWGCMJQ","additional_properties":{"audio_duration":149,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/5f3d989c-b21b-4157-93cf-0b075b83b32f/versions/1729248493/media/78f6c8477282754e6207aaf8e20acc74_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/23/period-house-on-residential-zoned-land-in-lucan-for-25m/","content_elements":[{"_id":"3JMZNWKU7FDC7C6EG5Q4RNCITU","additional_properties":{"_id":1729244388040},"content":"Builders and developers seeking a quality infill site in a mature location are likely to be interested in the Red House in <a href=\"https://www.irishtimes.com/tags/lucan/\" target=\"_blank\">Lucan</a>, a period house that is coming to the market along with a substantial site of residential zoned land.","type":"text"},{"_id":"EJM3RSRZ3VFSXFWV7BULSR44J4","additional_properties":{"_id":1729244388041},"content":"Launched by North’s Estate Agents, the Red House offers excellent development potential, given its residential zoning and frontage of 180m, and has an asking price of €2.5 million.","type":"text"},{"_id":"7CT4UHSF5NF4RAJHS636QKR2FM","additional_properties":{"_id":1729244388042},"content":"Sitting on a 0.6-hectare (1.5-acre) plot, on the Newlands Road in the popular Dublin town, the Red House is a charming house and mews, which was built around 1895. It has attractive period features and exceptional well maintained landscaped gardens.","type":"text"},{"_id":"2XVPI2WWRFHQFMX4SOHWO54SBM","additional_properties":{"_id":1729244388043},"content":"There is additional land to the rear that was acquired some years ago to add to the holding. It enjoys a very private setting and is in immaculate condition. Outside there is a refurbished two-storey coach house/mews, which provides a home office, kitchenette, bathroom and attractive additional family accommodation. The house and coach house together offer more than 263sq m (2,830sq ft) of accommodation. The house is accessed by electric gates and offers off-street parking for six vehicles.","type":"text"},{"_id":"QR4NEVLEKZBHLMTSZEBXO5ZTTI","additional_properties":{"_id":"PCG4KRV4OBFLHKPPGJZCM6TZJY"},"type":"image"},{"_id":"VO54IFCKTVHKHGHH4TJU46UPOE","additional_properties":{"_id":"TJEJVEVJU5FBBN7ORMURNEV6S4"},"type":"image"},{"_id":"4QKKZYOOGNG3JDQJZ6P46FIWZQ","additional_properties":{"_id":1729606895232},"content":"Given its quality and charm, it’s likely to see the property, and the mews, incorporated into a future substantial duplex or apartment scheme on the land, subject to planning permission.","type":"text"},{"_id":"MCFIMKVTTJGWBAEEAMBTLTBL4A","additional_properties":{"_id":1729244388045},"content":"Ross Shorten of North’s said that the overall package is likely to appeal to a builder or developer seeking a quality infill site in a mature location, while also offering a charming house and mews, which would likely add value and character to a future scheme.","type":"text"},{"_id":"CUTZ2FYMHNCMDCF3SXWX4EKDCA","additional_properties":{"_id":"AB7QNIL3OZBKDEEU5QCXAKPHZ4"},"content":"Housing solutions: Investing in a granny flat may benefit your family and bank balance","type":"interstitial_link"},{"_id":"BLHACEY77VEYXNSYU6C4KTVIXY","additional_properties":{"_id":1729244388046},"content":"The location in Lucan has matured considerably in recent years, and the property is situated opposite the Stewarts Foundation new school and within 3km of Liffey Valley Shopping Centre, close to the N4 and the M50 and a 2.5km walk to Lucan village itself. It is also close to good public transport links to the city centre (10km).","type":"text"},{"_id":"MCFIMKVTTJGWBAEEAMBTLTBL4A","additional_properties":{"_id":1729244388047},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Dublin site offers excellent potential for a duplex or apartment development"},"display_date":"2024-10-23T04:00:00Z","headlines":{"basic":"Period house on residential zoned land in Lucan for €2.5m","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"G2Z5PW5H7RGULG5CBEBPRCMROQ","auth":{"1":"433d9191fe94ff963243570d4294309c3435b014639d3fdc46381c8fd8c83ed1"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/G2Z5PW5H7RGULG5CBEBPRCMROQ.JPG"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/23/period-house-on-residential-zoned-land-in-lucan-for-25m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"X5GINAPL4BBBJMR35VPAFNYCL4","additional_properties":{"audio_duration":196,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/fd00601b-c2be-4683-8f22-868d5630107c/versions/1729520225/media/72b3f4cfecea4564e6c96fafb9f58967_compiled.mp3"},"canonical_url":"/property/2024/10/23/characterful-space-ideal-for-hotel-or-loft-style-apartments-close-to-temple-bar/","content_elements":[{"_id":"SBZ6NCTNY5A27CZ3RNCZVFY6DU","additional_properties":{"_id":1729248941117},"content":"The first word that comes to mind when viewing 66/67 Strand Street, Dublin 1, is “space”. The second, which would follow very quickly, is “style”.","type":"text"},{"_id":"BLMW5BX33ZBUTEF4GVCNQIVP2I","additional_properties":{"_id":1729248941119},"content":"The four-storey property, which was originally built by Quakers for community and educational uses, is oozing with character. Now on the market for €4 million through Colliers, it would make an excellent hotel.","type":"text"},{"_id":"TKWCGWE2UNBYZMLDSKY7WUQ5KY","additional_properties":{"_id":1729248941120},"content":"Many of the original features, such as the wooden staircase, are set in bright, open-plan accommodation with high ceilings, white walls, polished wooden floors and large round headed windows.","type":"text"},{"_id":"LKU5BMQAPNHIPMU2Z55N3FEIFY","additional_properties":{"_id":1729248941121},"content":"It could almost be a multilevel dance studio but, importantly, the four levels of space enjoy a very modern specification which includes Cat 6 cabling, Led lighting and an eight-person passenger lift which services all levels. Sales agents Colliers is seeking offers in the region of €4 million for the freehold which comes with full vacant possession.","type":"text"},{"_id":"PYBOVVVIDFE2VA4ICEFO2K5GFI","additional_properties":{"_id":1729248941123},"content":"The building is in excellent condition extending to a gross internal floor area of about 1,040sq m (c 10,800sq ft) and currently offers a superb standard of office accommodation that will appeal to both emerging and established business models.","type":"text"},{"_id":"TT35E2NTZBGRRCF7DD6GHCUBQY","additional_properties":{"_id":1729248941124},"content":"The property is located on the north side of the river Liffey on Great Strand Street, close to the Millennium Bridge. It is within easy walking distance to Henry Street and Temple Bar. The immediate area has an interesting mix with an array of international restaurants and Dublin’s Italian Quarter, and there are a number of hotels nearby, including the Morrison, Clarence and Motel One.","type":"text"},{"_id":"XVHKENT44VAZ5OZ5APWCPAVJX4","additional_properties":{"_id":1729248941127},"content":"Nigel Kingston of Colliers said: “The sale represents an excellent opportunity for a discerning purchaser to enhance the existing office space or with vision develop loft-style apartments or a boutique hotel, subject to planning”.","type":"text"},{"_id":"MPOSRUMICNAKJDOFBIRWY5FVDE","additional_properties":{"_id":1729248941128},"content":"Such a move has to be an attractive option to an investor given the demand for hotel bedrooms in the capital.","type":"text"},{"_id":"GLFMAB2MWFAKLPO4SWZXCFEAR4","additional_properties":{"_id":1729248941129},"content":"The history of the building shows it was erected in 1868 by John McCurdy for the Religious Society of Friends (Quakers) primarily for the provision of education to the working classes of the inner city. In line with Quaker principles the building was a place of education and worship but also a community space, and was used for charitable works and as a refuge for those in need.","type":"text"},{"_id":"DCMN3DWG2RBPNIN3NC47O2J3SM","additional_properties":{"_id":1729248941130},"content":"When the Quakers vacated the building in 1924 it became the headquarters of St John Ambulance and was in commercial use for the next 100 years right until the departure of the most recent occupiers ETSY in 2023.","type":"text"},{"_id":"Y5627NERUZG5ZEXONNCCPQMTAI","additional_properties":{"_id":1729248941131},"content":"It is an important building from both a social and architectural perspective, with its layers of historic 18th century domestic and 19th century industrial character.","type":"text"},{"_id":"3QYFBJ4SDJDZZCZLMAXVVK5BH4","additional_properties":{"_id":1729248941132},"content":"The current owners have done much to identify and preserve original features to ensure the history of the fabric remains front and centre.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Tim O'Brien"}},"name":"Tim O'Brien"}]},"description":{"basic":"On the market for €4m, 66/67 Strand Street offers plenty of space for offices or scope for redevelopment"},"display_date":"2024-10-23T04:00:00Z","headlines":{"basic":"Characterful space ideal for hotel or loft-style apartments close to Temple Bar ","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"U5TEOK6DBJGPLC5RFTYZA7DD6U","auth":{"1":"8b11e0a48f4c35f3948c65ada8b28623d4ea82eab3c19ac1de3f171f4a8429d5"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/U5TEOK6DBJGPLC5RFTYZA7DD6U.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Property"},{"name":"Business"},{"name":"Commercial Property"}]},"type":"story","website_url":"/property/2024/10/23/characterful-space-ideal-for-hotel-or-loft-style-apartments-close-to-temple-bar/","websites":{"irishtimes":{"website_section":{"_id":"/property","additional_properties":{"original":{}},"name":"Property"}}}},{"_id":"PU3XFN4HYNEAFLUKYKMCDC2PYA","additional_properties":{"audio_duration":345,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/c51de78a-0970-44e8-ba00-35846f7e57b7/versions/1729517387/media/335709f9272a5a199a19c93e886da4b0_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/23/developers-need-more-funding-options-to-meet-housing-demand/","content_elements":[{"_id":"RCTRDTA37RARXMAPIOOMW6NU3E","additional_properties":{"_id":1729069476634},"content":"","type":"text"},{"_id":"2Z4Q6W5YUZH7JCI55Q2WP2PRIE","additional_properties":{"_id":1729069476635},"content":"The real estate lending market has been fluid for some years now, impacted by interest rate increases, post-pandemic behaviour changes and an increase in non-bank lenders entering the market.","type":"text"},{"_id":"LK3SMFHHOJBEDEIPDUGOKNZJT4","additional_properties":{"_id":1729069476636},"content":"Whilst last year’s EY Real Estate Borrower Outlook survey, which examines the mindset of borrowers in the lending market by surveying 50 of Ireland’s most senior real estate industry leaders, was cautious in its outlook, this year things are looking a lot more positive.","type":"text"},{"_id":"XMT6RFRAIBGMJLP4VRNYK5E23I","additional_properties":{"_id":1729069476637},"content":"Overall there’s good news for the residential development sector, with 54 per cent of respondents believing the residential sector will experience the greatest increase in value over the next 12 months (compared with student accommodation – 28 per cent; logistics & data centres – 13 per cent; and offices – 5 per cent). More than half (51 per cent) expect to see most real estate lending activity in the development space.","type":"text"},{"_id":"4Y7JWCQWXRBEPKRGKHJI5WVY3U","additional_properties":{"_id":1729069476638},"content":"However, the availability of third-party equity is causing concern, with 43 per cent of respondents saying that the greatest gap is in the availability of financing, particularly in the residential development space. We believe this third-party equity will be needed at (i) a specific housing project level for some developers; and (ii) for larger private developers at a group level, thus allowing them to have stronger balance sheets and ultimately take on larger housing projects, which will ultimately be needed to meet housing demand. Finally, having more developers with strong balance sheets should lead to more consolidation in the residential sector, which will again help in allowing the larger residential developers work on numerous housing projects concurrently.","type":"text"},{"_id":"7HD3RDVM7FH7XFUS6DIQMWQIHU","additional_properties":{"_id":1729069476639},"content":"The Central Bank has said that around 50,000 new homes need to be built every year between now and 2050, at a cost of €20 billion per year. To fulfil that construction goal there needs to be a range of capital solutions. These include not just traditional banks but non-bank lenders, long-term funders, third-party equity as discussed and government. It’s essential that all these solutions are working together to get that €20 billion a year into the marketplace.","type":"text"},{"_id":"35WLNILEZZHUNCCOTGVSV4E5R4","additional_properties":{"_id":1729069476641},"content":"In a lot of cases it was previously thought it was “traditional bank versus non-bank lender”, but we’re now seeing more banks working alongside non-bank lenders as they complement each other. Internationally that’s the way it works, and we’re seeing this trend work increasingly that way in Ireland.","type":"text"},{"_id":"MKZGE3NE3VHGTKR3ZSVLAUBWJQ","additional_properties":{"_id":1729069476642},"content":"Some believe there is a gap in bank funding, with many of our respondents not as familiar with the non-bank lending community as expected, and there seems to be a lack of understanding around the fact that non-bank lenders can work alongside banks. Over a third (33 per cent) of respondents believe the availability of capital will prove to be a potential obstacle to financing activity in the Irish market – again increasing the importance and need for banks, non-bank lenders and third-party equity providers.","type":"text"},{"_id":"2DXEQ5SRHZFBBEVLQEI3BSBZQM","additional_properties":{"_id":1729069476643},"content":"The Government has been assisting in the residential development space also, a move which has been broadly welcomed by our respondents, particularly the extension of the development levy waiver. Other ways that the Government is helping is through pre-buying and pre-leasing completed homes via the county councils, approved housing bodies and the Land Development Agency. This allows many new homes to be built as it unlocks funding options, ensuring that private developers can go to a lending source with a derisked funding ask.","type":"text"},{"_id":"KCGW2ZEXYFDNJE74XY74I6IOG4","additional_properties":{"_id":1729069476644},"content":"More generally in the real estate sector refinancing is also top of mind for respondents, with 2025 expected to be a big year, with 41 per cent seeing refinancing as an area of “most activity”. Some 30 per cent of respondents say interest expense is their first challenge, but less favourable terms (26 per cent) and reduced loan sizes due to increased capital values (21 per cent) are also significant issues. These statistics demonstrate the importance of having a plan prior to approaching your lender with your refinancing ask. Over the next 12 months under half of respondents (48 per cent) believe interest rates will continue to fall by 75 bps.","type":"text"},{"_id":"ODBFQBCLLBGYLMKDZJ5DESODVM","additional_properties":{"_id":1729069476645},"content":"Other areas to note include the outlook for the office sector, which remains muted, with only 5 per cent of respondents expecting this asset class to experience an increase in value versus other real estate sectors.","type":"text"},{"_id":"CSOTIKZKLBCADNOWXFNOETYDZA","additional_properties":{"_id":1729069476647},"content":"The office market, while continuing to be nuanced, is more positive than 12 months ago, with a number of high-profile receiverships likely to bring some price discovery to the Dublin market. Improvements in interest rates and a noticeable improvement in office workers returning to the office has also helped.","type":"text"},{"_id":"OU44MNFGERAPZCNWE3NVQVRCQU","additional_properties":{"_id":1729069476648},"content":"While there have been several high-profile lettings recently a significant volume of new floor space will be completed over the next 12 months – further testing the market – so we and our respondents will continue to monitor the office market valuations.","type":"text"},{"_id":"VW3S6SJCKVBADIOWLEVQZM2L6I","additional_properties":{"_id":1729069476649},"content":"Overall, whilst challenges remain the improving interest rate environment has helped improve the viability of real estate projects. However, the range of capital options, particularly for residential developers, will have to be explored and expanded on for housing demand to be met in the coming years.","type":"text"},{"_id":"UZOR5UY5G5EARBULUFOVIGVASU","additional_properties":{"_id":1729069476651},"content":"<i>David Martin is a capital & debt advisory partner with EY.</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"David Martin"}]},"description":{"basic":"To build 50,000 houses a year residential developers need a more diverse capital structure"},"display_date":"2024-10-23T04:00:00Z","headlines":{"basic":"Developers need more funding options to meet housing demand","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"DRLCL34MTRCKS4WHA2DQ55TH5Q","auth":{"1":"6632f737b68bf5f6aa860430b7fb02e17af0a3b5f4d339f1014a18e8456fb9b5"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/DRLCL34MTRCKS4WHA2DQ55TH5Q.jpg"}},"subtype":"opinion","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/23/developers-need-more-funding-options-to-meet-housing-demand/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"UWCEL7A7RVGGVJZ3OCJTO3PACY","additional_properties":{"audio_duration":189,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/c2a394d5-dae5-49ab-8250-09029e9d76c4/versions/1728657680/media/eeba76900794e118163a7bcfb4cff913_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/16/south-dublin-office-blocks-return-to-market-at-265m-discount/","content_elements":[{"_id":"WHTN4V6VZRHS7MIQW2EI3Q2QNU","additional_properties":{"_id":1728580835754},"content":"An opportunity to create a sustainable office development with an attractive purchase price is being offered at Trimleston House, part of the Beech Hill Office Campus in <a href=\"https://www.irishtimes.com/tags/clonskeagh/\" target=\"_blank\">Clonskeagh</a>, south <a href=\"https://www.irishtimes.com/ireland/dublin/\" target=\"_blank\">Dublin</a>.","type":"text"},{"_id":"DMZXSEGLLVA7XPNQONIUZEYFNY","additional_properties":{"_id":1728580835756},"content":"<a href=\"https://www.irishtimes.com/tags/knight-frank/\" target=\"_blank\">Knight Frank</a> is offering two high-quality, three-storey, semidetached office blocks extending to 3,000sq m (32,300 sq ft) gross internal area, along with 89 surface-level car-parking spaces.","type":"text"},{"_id":"IMANO67MQNCVJP6JMGOCD7PT3Q","additional_properties":{"_id":1728580835757},"content":"Probably the first point of interest to investors seeking a gilt-edged asset is the price. The two blocks are being offered to market for €4.6 million, or about €140 per sq ft. This is a considerable discount, of some 36 per cent, on the amount sought in October 2021, when the buildings were last brought to the market seeking €7.25 million (about €222 per square foot).","type":"text"},{"_id":"IEIAZVJ2QBE6NIODWW5I5DTTU4","additional_properties":{"_id":1728580835759},"content":"The price difference may reflect the current availability of newer office space in Dublin. 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These have frontage on to Headford Road beside the Galway Retail Park and Galway Shopping Centre.","type":"text"},{"_id":"L4P2AZT3XRFFDC7SSMXXOGHIVQ","additional_properties":{"_id":1728915145879},"content":"As well as the University of Galway, the city is also home to the Atlantic Technological University (ATU). Combined, they attract more than 22,000 full-time students, while the city is a tourist hub throughout the year, with some 126 festivals, including the Galway Races, Galway International Arts Festival and the Galway International Oyster Festival.","type":"text"},{"_id":"HFU3TJUYBJBMPIXU3G3CPTV4QY","additional_properties":{"_id":1728915145880},"content":"A report from Lisney earlier this year found that with many purpose-built student accommodation operators already experiencing full capacity, and with student numbers expected to grow by 30,000 by 2030, the demand for student beds is likely to remain “exceptionally strong in 2024 and beyond”.","type":"text"},{"_id":"BRRCC6D4NRCVBOGMUKNU6HRN5M","additional_properties":{"_id":1728915145881},"content":"Patricia Staunton of Cushman & Wakefield said: “This is an opportunity to acquire a strategic site with will full planning permission in Galway, where demand is outweighing supply in both the PBSA (purpose-built student accommodation) and hospitality market, and should attract strong interest from both the national and international markets.”","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Strong interest expected in site on Headford Road with full planning permission"},"display_date":"2024-10-16T04:00:00Z","headlines":{"basic":"Galway site with potential for 272 student beds for €7.2m","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"FPJWCPV6GNCVHOEHT5XEPWNKTE","auth":{"1":"c0b005dbcbf231422dacfcd109e3b8b2f8d80c25c299e68f5deb0b6f570d293c"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/FPJWCPV6GNCVHOEHT5XEPWNKTE.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/16/galway-site-with-potential-for-272-student-beds-for-72m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"4HP3ZVVG7NBBBPVRN32H3XJ2AU","additional_properties":{"audio_duration":193,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/04c1a72e-c7ee-4fb7-a48c-896ad942449e/versions/1728899657/media/a25a4442b7fe04479bc41909dd8b9c5e_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/16/french-fund-expands-irish-presence-with-two-acquisitions/","content_elements":[{"_id":"MCKXWOD5CJD5LBLYSANBEOBOZY","additional_properties":{"_id":1728897920351},"content":"A fund managed by French real estate investor Arkéa REIM has increased its exposure in Ireland with the acquisition of two office investment properties in Citywest, Dublin and Parkmore East, Galway. While the value of the deal was undisclosed, it’s understood to be in excess of €20 million for the combined properties.","type":"text"},{"_id":"7NFDG7HVTNGZ7JLDVPGQY477SU","additional_properties":{"_id":1728897920352},"content":"The properties, Block 5, Parkmore East Business Campus in Galway and Block 5, Waterside Innovation Campus, Citywest, were sold by Fine Grain Property, in line with its portfolio investment strategy. An Irish-owned international commercial real estate investor and operator, Fine Grain Property has invested more than €300 million across Ireland since 2016.","type":"text"},{"_id":"G5IV7U5EO5FIXCKG32IBBU3DZA","additional_properties":{"_id":1728897920353},"content":"The properties are the third and fourth acquisitions for the French fund, SCPI Transitions Europe. During the summer it acquired the Plantation House office building in Dublin, its first acquisition, as well as Citypoint, a mixed-use property in Galway.","type":"text"},{"_id":"ORL5NVTC2BESXLI4EQR5Q4A5XM","additional_properties":{"_id":1728897920354},"content":"Sienna Investment Managers, which seeks stable, diversified income returns from commercial property across Europe, advised on the off-market sale, with Avison Young offering advice to Fine Grain Property.","type":"text"},{"_id":"JR7Z7WVEYFBD7FOI2KP4EJW7M4","additional_properties":{"_id":"3QJCYEV5I5GXJNFD7535PXIZJY"},"type":"image"},{"_id":"RGI7IOJR4ZFOJJ6XLHZ7GQUVQI","additional_properties":{"_id":1728897920355},"content":"Both assets are fully let, to two tenants in Dublin and three in Galway, across a number of industries including medtech and software.","type":"text"},{"_id":"MCKXWOD5CJD5LBLYSANBEOBOZY","additional_properties":{"_id":1728897920356},"content":"The Galway property is a three-storey LEED Gold office block extending to 4,244sq m (45,689sq ft). Fine Grain Property developed the building in 2018 to a high specification, at a time when there was no other new office construction under way in Galway. The land was acquired from IDA Ireland through a tender process, and Fine Grain has since leased the building in its entirety to Cardiac Booster, Fotonation and Veryan Medical.","type":"text"},{"_id":"ZIGA6MPFIFFMJERSQN5QHFBICM","additional_properties":{"_id":1728897920357},"content":"The Citywest property, which then had 1,587sq m (17,080sq ft) of vacant space, was acquired by Fine Grain Property in early 2023. Since then, the property has been upgraded, a programme put in place to improve the Building Energy Rating, and the property has been fully let to Hidden Hearing and SAP.","type":"text"},{"_id":"CXUNLRN4TBHXJBOV3U4OLSYHGM","additional_properties":{"_id":1728897920358},"content":"The combined pricing represents an average net initial yield of between 7.5 per cent and 8 per cent, from long-term, stable tenants.","type":"text"},{"_id":"RYCLPHDEGJDC7D5BU62YWM7NR4","additional_properties":{"_id":1728897920359},"content":"Arthur Debaere, head of acquisitions with Sienna IM, said the deal further deepens both its position in the Irish market, and its successful relationship with Arkea REIM.","type":"text"},{"_id":"LPOPH7JVOJFQNMCZOOMR2HEFX4","additional_properties":{"_id":1728897920360},"content":"Kevin Mahony, chief financial officer of Fine Grain Property, said the company’s “experienced team continues to invest nationwide to grow our sustainable workplace community, and create further excellent investment properties”.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Office investment properties are in Citywest, Dublin and Parkmore East, Galway"},"display_date":"2024-10-16T04:00:00Z","headlines":{"basic":"French fund expands Irish presence with two acquisitions","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"PQQG2NG7R5AJDMRB4RAH73S6SY","auth":{"1":"94335fa3c292a960b41c20197824c4e5a179d7492f71e3cf86f304027392fe43"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/PQQG2NG7R5AJDMRB4RAH73S6SY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/16/french-fund-expands-irish-presence-with-two-acquisitions/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"JQXDGWU7WVCERMWY4IG26ZE4CE","additional_properties":{"audio_duration":100,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/0389b425-6a0e-4cbb-af0f-0ef46035094d/versions/1728994413/media/fd16c57c853317d03088447b9b082cca_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/16/dublin-7-apartment-portfolio-sells-for-7m/","content_elements":[{"_id":"FOIJZWVHTJDN7BG57NM6MCFF5I","additional_properties":{"_id":1728994058420},"content":"A multi-family investment comprising 26 apartments in Dublin 7 has sold for close to the guide price of €7 million.","type":"text"},{"_id":"FC3JV6OXUVEFFHMTOCNDDOLN6A","additional_properties":{"_id":1728994058421},"content":"The 26 apartments, built by the Cosgrave Group, were sold as a single lot in a self-contained block within Hampton Square on the Navan Road. Hooke & MacDonald handled the sale.","type":"text"},{"_id":"FC3JV6OXUVEFFHMTOCNDDOLN6A","additional_properties":{"_id":1728994058422},"content":"The guide price for the portfolio was €7 million, equating to an average of €269,231 per apartment and a gross yield of 6.5 per cent. It is understood that the final sale price was close to the guide price.","type":"text"},{"_id":"D7WLKDXDRZAWJFJ7CJM7SLG3AE","additional_properties":{"_id":1728994058423},"content":"The 26 apartments at Hampton Square generate an annual rental income of €458,064, with an average monthly rent of €1,468 per apartment.","type":"text"},{"_id":"QERPNMUKZJCJ5KFDUGH4VFBEWU","additional_properties":{"_id":1728994058424},"content":"The investment consists of four one-bedroom apartments, 18 one-bedroom + study apartments, two two-bedroom apartments, and two two-bedroom + study penthouse apartments. The properties are finished to a good standard, with three apartments recently refurbished.","type":"text"},{"_id":"5HL7DO4NHVEW5OVAA6GNBNNMXE","additional_properties":{"_id":1728994058425},"content":"Hampton Square is a well-maintained development, located just off the Navan Road. It is within walking distance of Smithfield, Stoneybatter, the Phoenix Park, Phibsborough village and the city centre.","type":"text"},{"_id":"QT6L43L4GBFLPKL2WXS3TSTHPM","additional_properties":{"_id":1728994058426},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Investor pays average unit price of almost €270,000 for 26 apartments in Hampton Square development"},"display_date":"2024-10-16T04:00:00Z","headlines":{"basic":"Dublin 7 apartment portfolio sells for €7m","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"LP2TQ36JMZD2XONJHQQQDPT7VI","auth":{"1":"184e2e4c025d489610c5f2309c48c69db3ed93e05bf95e35c1ef64040c328e70"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/LP2TQ36JMZD2XONJHQQQDPT7VI.JPG"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/16/dublin-7-apartment-portfolio-sells-for-7m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"SVDAJCQA5ZCPRIK2SNPM42I5II","additional_properties":{"audio_duration":281,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/a18c66c7-963b-4602-86c0-7b78dba08a18/versions/1728909771/media/0b90415757fcc68a4d3c025ab5bc38a7_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/16/opinion-are-planning-reforms-enough-to-deliver-the-sustainable-growth-that-ireland-urgently-needs/","content_elements":[{"_id":"MBR3UODDFBGJVH6HQV7WKNRPP4","additional_properties":{"_id":1728891208997},"content":"","type":"text"},{"_id":"5SSIFJ44U5EXNLE5PRPUE6HZUU","additional_properties":{"_id":1728894253528},"content":"Ireland’s new <a href=\"https://www.irishtimes.com/opinion/editorials/2024/10/10/the-irish-times-view-on-the-planning-bill-some-key-tests-await/\" target=\"_blank\">planning reforms</a>, as outlined in the Planning and Development Bill 2023 (Bill), which <a href=\"https://www.irishtimes.com/politics/oireachtas/2024/10/09/controversial-planning-and-development-bill-which-drew-hollywood-ire-passes-in-dail/\" target=\"_blank\">passed in the Dáil last week</a>, and the ongoing First Revision to the National Planning Framework (revised NPF), are critical steps towards addressing the country’s <a href=\"https://www.irishtimes.com/tags/housing-crisis/\" target=\"_blank\">housing</a> and infrastructure crises.","type":"text"},{"_id":"Y4JOM3FVIVFRJOSBXNBGCZ5BSM","additional_properties":{"_id":1728891208998},"content":"The Bill’s introduction of statutory timelines, urban development zones and judicial review reforms marks a significant move to streamline the planning process. However, the success of these measures will hinge on their implementation and ability to tackle long-standing challenges such as land-use inefficiencies and housing shortages.","type":"text"},{"_id":"XID4HNIIJBBZJJLG5QQROAAZDM","additional_properties":{"_id":1728891208999},"content":"A key feature of the Bill is the introduction of 10-year strategic development plans for local authorities. These plans notably include a five-year review period, providing a vital opportunity to adjust and refine strategies based on evolving needs. This flexibility is essential for maintaining momentum and ensuring that long-term goals remain achievable. However, the success of these plans will rely on political stability, as shifts in political cycles must not disrupt the continuity and focus required for long-term strategies to deliver their intended results, particularly in relation to significant national infrastructure projects.","type":"text"},{"_id":"VGNDXO22E5G43C2R4AQ4V3AITQ","additional_properties":{"_id":1728891209000},"content":"While the Bill aligns with the NPF’s focus on compact, sustainable growth – targeting 40 per cent of new housing within existing urban areas – several challenges remain. Local authorities need to adopt more realistic assessments of development potential to fully unlock the value of zoned land. Moreover, while the Bill aims to expedite housing approvals and the revised NPF targets 50,000 new homes annually, additional incentives are required to stimulate apartment development in regional areas, where commercial viability is a significant challenge. Without financial supports or tax incentives, these regions may struggle to meet housing targets, especially given the persistent difficulties surrounding construction feasibility outside <a href=\"https://www.irishtimes.com/ireland/dublin/\" target=\"_blank\">Dublin</a>.","type":"text"},{"_id":"JQBKPY44MBHT7GYD7ZOIAWMOTM","additional_properties":{"_id":1728891209001},"content":"The growing obsolescence of older office stock also presents a critical concern. As these buildings age, their adaptive reuse for housing or mixed-use purposes presents a potential solution. However, this will necessitate changes in design standards and financial incentives to make retrofitting and conversion attractive to developers. If properly incentivised, the adaptive reuse of these buildings could relieve pressure on housing supply while contributing to Ireland’s climate and sustainability goals.","type":"text"},{"_id":"EXJYUPZJ6JHGHNAURAN7VM3EKQ","additional_properties":{"_id":"KKD7BZ3ERZHHZCS3ZV5MX32KLU"},"content":"The Irish Times view on setting housing targets: a robust but flexible approach is needed","type":"interstitial_link"},{"_id":"VWLJYYHLLJCNHG6ECSBR7N3PUU","additional_properties":{"_id":1728891209002},"content":"Achieving balanced regional development, a central aim of the revised NPF, remains another significant challenge. While the introduction of long-term strategic planning is promising, fostering regional growth without weakening Dublin’s economic position is complex but paramount. Targeted infrastructure investments and economic incentives are essential to ensuring that cities like Cork, Limerick and Galway can compete globally, while avoiding the creation of unhealthy competition for investment that could undermine national development goals.","type":"text"},{"_id":"XPTMVVCLGFBQREQKBPUUHPNGAI","additional_properties":{"_id":1728891209003},"content":"Finally, the Bill and the revised NPF’s emphasis on climate goals, such as enhancing public transportation and promoting sustainable building practices, is a positive development. Major projects such as <a href=\"https://www.irishtimes.com/opinion/editorials/2024/07/31/the-irish-times-view-on-dart-west-very-slow-train-coming/\" target=\"_blank\">DART+ West</a> and <a href=\"https://www.irishtimes.com/tags/metrolink/\" target=\"_blank\">MetroLink</a> are crucial for reducing car dependency. However, for these initiatives to succeed, a more integrated approach to transport and land-use planning is needed. Additionally, the adaptive reuse of existing buildings – whether for housing or other uses – must play a larger role in meeting emissions reduction targets, supported by updated regulations and financial incentives.","type":"text"},{"_id":"AOUZGFTJRVHQXAJGXRLIRB6GMI","additional_properties":{"_id":1728891209004},"content":"In conclusion, Ireland’s recent and ongoing planning reforms offer a significant opportunity to reshape the country’s development landscape. With bold policies and a stronger legal framework, the nation has a chance to unlock land, integrate infrastructure, and drive innovation. Notwithstanding, the key question remains: will these reforms be enough to overcome entrenched barriers and deliver the sustainable, compact growth that Ireland urgently needs?","type":"text"},{"_id":"PTADF4OPYFF5BNYNFFYTEN4TWA","additional_properties":{"_id":1728894253536},"content":"<i>Leon Murray is director of planning with CBRE</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"Leon Murray"}]},"description":{"basic":"Significant reforms mean that Ireland now has a chance to unlock land, integrate infrastructure, and drive innovation – but will it happen?"},"display_date":"2024-10-16T04:00:00Z","headlines":{"basic":"Opinion: Are planning reforms enough to deliver the sustainable growth that Ireland urgently needs?","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"WO4PUXR6NZR4QJHFIV4F5EROWY","auth":{"1":"71248e11af382382487a4fb1c1faa290a9115b02e7a977252917e52c7293cc71"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/WO4PUXR6NZR4QJHFIV4F5EROWY.jpg"}},"subtype":"opinion","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/16/opinion-are-planning-reforms-enough-to-deliver-the-sustainable-growth-that-ireland-urgently-needs/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"SN5JDGNWX5DSBNQKQ6SLEHCCGI","additional_properties":{"audio_duration":204,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/1362fb9e-8bb0-4912-a9b1-3e2060062083/versions/1728898470/media/2db58ed7dcd74e595902b70434b9aa90_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/16/prestigious-georgian-with-views-over-merrion-square-for-42m/","content_elements":[{"_id":"3VPU3QAPOBCZFPQP3S5MWNCGWY","additional_properties":{"_id":1728896749114},"content":"Owner-occupiers, as well as investors, are expected to be interested in a substantial four storey over basement Georgian property on Merrion Square, that is coming to the market with full vacant possession.","type":"text"},{"_id":"WPRTC6EMHBAYNAMRCLTAYLV3TE","additional_properties":{"_id":1728896749115},"content":"The property, 46 Merrion Square, which is being launched to the market by Colliers for €4.2 million, comprises a four-storey period building with beautiful views over Merrion Square, a modern mews, and seven parking spaces.","type":"text"},{"_id":"KIREGVFEQNA6BCGP4M3ARPO5FI","additional_properties":{"_id":1728896749116},"content":"The entire property extends to 7,953 sq ft (NIA) and is available with full vacant possession, making it an ideal opportunity for owner-occupiers, developers, or indeed serviced office providers.","type":"text"},{"_id":"CW6DI76J35FXVPKIEZBCH3FLKM","additional_properties":{"_id":1728896749117},"content":"The property is available in three separate lots. Colliers is seeking offers of €4.2 million for the entire property; €3.4 million for No 46 Merrion Square; and €800,000 for the mews, No 46 Stephen’s Place.","type":"text"},{"_id":"EQWD663HVVDBHKQXE6WRNSQXNQ","additional_properties":{"_id":1728896749118},"content":"No 46 Merrion Square is a substantial four-storey-over-basement property, that provides generously proportioned rooms, with beautiful views over Merrion Square, spacious common areas and a striking entrance hallway. The reception rooms can comfortably accommodate open plan configurations, while a number of smaller rooms are ideal for cellular offices.","type":"text"},{"_id":"KIREGVFEQNA6BCGP4M3ARPO5FI","additional_properties":{"_id":1728896749119},"content":"The lower ground floor enjoys independent access on to Merrion Square and benefits from generous floor-to-ceiling heights, creating bright and spacious accommodation. No 46 extends to 5,667 sq ft (NIA), and retains many original features, including ornate cornicing, ceiling roses, sliding sash windows and marble fireplaces.","type":"text"},{"_id":"ZCKVA5NFJRCUVFMPLZS27MWDUY","additional_properties":{"_id":1728896749120},"content":"The modern mews building at 46 Stephen’s Place extends to 2,286sq ft (NIA) over two floors, and offers additional office accommodation or indeed development potential, subject to planning permission. The property benefits from seven car parking spaces, accessed via Stephen’s Place.","type":"text"},{"_id":"H2UHH3JL65A5ZHM2KQWRFRSYD4","additional_properties":{"_id":1728896749121},"content":"The location, in the heart of the traditional central business district, is close to all transport links and amenities, with countless cafes, restaurant, bars and hotels on the doorstep.","type":"text"},{"_id":"WFDGY2X2ZZG5PH2AXHSYMBAOZY","additional_properties":{"_id":1728896749122},"content":"No 46 last came to the market in May 2023, at an asking price of €4.4 million, but did not trade. At the time it was occupied by three tenants and produced total annual rental income of €225,240. Colliers sold the adjoining number 47 Merrion Square, to a private investors in May 2022, for €5.69 million.","type":"text"},{"_id":"2SC56UIEYJFOFNSUU6UAYNJPWY","additional_properties":{"_id":1728896749123},"content":"Michele McGarry, who is handling the sale on behalf of Colliers said: “Given the quality of the real estate, in one of Dublin’s most-sought-after addresses, we are expecting to see interest from both owner occupiers and investors.”","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"The property, which also includes a modern mews, is likely to appeal to both owner-occupiers and investors"},"display_date":"2024-10-16T04:00:00Z","headlines":{"basic":"Prestigious Georgian with views over Merrion Square for €4.2m","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"P4BJECWNH5HKPOK2NO52BIIU2M","auth":{"1":"2d486fe6c2b79fd1e8643ba86503eeadfb61d3cb0d3e002b36c9e8dfad5c07a3"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/P4BJECWNH5HKPOK2NO52BIIU2M.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/16/prestigious-georgian-with-views-over-merrion-square-for-42m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"5JXXK5LO45CIPBEORJXOLD5Q4U","additional_properties":{"audio_duration":122,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/0b82c763-07ab-4bda-af13-c070432984b0/versions/1727709245/media/4ba23c838ca531e33ea70fb540ae4a1c_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/09/grandspect-pays-more-than-12m-for-site-with-potential-for-1000-homes-in-dundalk/","content_elements":[{"_id":"UF7T4ZCGPRBHDHK4JRQSCAWETU","additional_properties":{"_id":1727705682499},"content":"Grandspect Developments has acquired a significant land bank of about 98 acres at Mount Avenue in Dundalk, paying in excess of the guide price of €12 million for the site, which has the potential for the construction of as many as 1,000 homes. The sale was conducted on the instruction of receiver Myles Kirby.","type":"text"},{"_id":"SPCZVAHITFFKZGC4UHSAAZVKNI","additional_properties":{"_id":1727705682500},"content":"Grandspect, a joint venture between the Maplewood Group and Lydon Group, acquired the site in the face of “significant interest” from parties both in Ireland and Northern Ireland. Granspect’s funding partner is Activate Capital.","type":"text"},{"_id":"G2HUZL4ST5BBTA3P43RHB6ZXY4","additional_properties":{"_id":1727705682501},"content":"Selling agents Sherry FitzGerald Commercial and Sherry FitzGerald Carroll said that the sale of the site in the Greater Dublin Area is a “major boost” for Dundalk and the wider Leinster region, given that it paves the way for the development of about 900-1,000 homes, along with the delivery of ancillary commercial and non-residential services on the lands in coming years ahead.","type":"text"},{"_id":"SPILHIID5ZC25EFFO66P7F73ME","additional_properties":{"_id":1727708011765},"content":"While the lands do not have planning permission in place at present, a feasibility study prepared by O’Mahony Pike Architects suggested they could accommodate between 800 and 1,000 homes, subject to the necessary approvals.","type":"text"},{"_id":"FJ3CO6Z23BHYJMP36YXMBUPVBA","additional_properties":{"_id":1727705682502},"content":"Brian Carey, director and head of Sherry FitzGerald Commercial said: “The sale represents an important milestone for the lands and will be a fantastic addition to the town of Dundalk and the wider region. We are looking forward to working with Grandspect Developments over the coming years as the development of the scheme progresses”.","type":"text"},{"_id":"2FI7EM5OY5G6BOS7EOAAJ3UEZQ","additional_properties":{"_id":1727708011767},"content":"Grandspect said it looks forward to “constructive engagement with Louth County Council and other local community groups, to ensure timely delivery of much needed housing, new communities and sustainable development in Dundalk”.","type":"text"},{"_id":"EWF6ZL26MVHGXF7MOEXUWEIX4M","additional_properties":{"_id":1727708011768},"content":"<i>Sign up for </i><a href=\"https://www.irishtimes.com/media/2023/11/07/stay-informed-with-push-alerts-from-the-irish-times-delivered-straight-to-your-phone/\"><i>push alerts</i></a><i> and have the best news, analysis and comment delivered directly to your phone</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"premium"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Joint venture between the Maplewood Group and Lydon Group looks forward to delivering much needed housing, new communities and sustainable development in Dundalk"},"display_date":"2024-10-09T04:00:00Z","headlines":{"basic":"Grandspect pays more than €12m for site with potential for 1,000 homes in Dundalk","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"XG2KUTNW7VGXXNAKYAOU5JYF3Y","auth":{"1":"19e1e2cd186381b9398a02bdf2022dfd4f5fe292e4e06feab94902c617263aa3"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/XG2KUTNW7VGXXNAKYAOU5JYF3Y.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/09/grandspect-pays-more-than-12m-for-site-with-potential-for-1000-homes-in-dundalk/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"VF5QZPA47JDENHQHQQQWPG3HVY","additional_properties":{"audio_duration":125,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/c6d86e18-f712-48d4-a520-867efaf4eb63/versions/1728312000/media/11feb53197179fbb8e552f1802cc2139_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/09/investment-with-long-term-lease-in-cork-for-54m/","content_elements":[{"_id":"SBMUH2VUOVGCJPL4HCQKXXGCZQ","additional_properties":{"_id":1728306872379},"content":"Investors looking for a high-quality property, with a substantial lease term, will likely be interested in an opportunity in Carrigtwohill’s IDA Business Park, which is coming to the market at a guide price of €5.4 million.","type":"text"},{"_id":"5ON4UEUMZVBCPCXDPKV6FS4SIY","additional_properties":{"_id":"RDT4ML5FEJAL3CE6IAUD4FY2UI"},"type":"image"},{"_id":"XB45BMWXHREZFG5VANJYO2NYNY","additional_properties":{"_id":1728310794470},"content":"Selling agent Cushman & Wakefield expects the property will attract attention from “at home and further afield”, given the occupier’s primary business is to provide services for general aviation, commercial and military customers globally.","type":"text"},{"_id":"NGQNCMSMDFCNZOEMPETH7GE2PI","additional_properties":{"_id":1728310794471},"content":"SA Component Service (Ireland), which is part of StandardAero, the US aerospace maintenance and repair group, occupies the premises on a long-term lease. This expires in June 2047, but with break options in June 2036 and 2042, which leaves about 11½ years certain on the current lease.","type":"text"},{"_id":"IK3MMEQW7JEM7OWE7VYFXKXKDA","additional_properties":{"_id":1728310794472},"content":"Unusually, the passing rent is paid in US dollars and currently stands at $413,000 a year (€375,000 in October 2024). The rent will be reviewed every five years on a CPI basis compounded annually, with a cap of 5 per cent and a collar of 1 per cent a year. The next rent review is due in June 2027.","type":"text"},{"_id":"XB45BMWXHREZFG5VANJYO2NYNY","additional_properties":{"_id":1728310794473},"content":"Seán Healy of selling agent Cushman & Wakefield said: “This is an excellent opportunity to acquire a high-quality investment with a substantial lease term certain in a prime industrial location. In a market with short-term leases becoming the norm, to have in the order of 11½ years remaining on a lease with CPI rent reviews is extremely attractive. The tenant has been in occupation since 2007 and are firmly committed to the location and have recently agreed an extension to their original 20-year lease.’’","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Property in Carrigtwohill’s IDA Business Park has 11½ years on the current lease"},"display_date":"2024-10-09T04:00:00Z","headlines":{"basic":"Investment with long-term lease in Cork for €5.4m","native":""},"label":{"audio_project_id":{"text":"8948"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/09/investment-with-long-term-lease-in-cork-for-54m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"NDJFQCZ3K5AXVBNXR5C42PIZGE","additional_properties":{"audio_duration":278,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/7c36b1c0-1973-4776-8fbc-9c53b88cfea5/versions/1728397926/media/8cb7854745d39558ac3723b2e4b1d4f9_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/09/budget-2025-more-mixed-messaging-on-international-investment-in-housing/","content_elements":[{"_id":"3RQZW3KPOVEJPDJFQ5LZ6GWZUM","additional_properties":{"_id":1728289303428},"content":"","type":"text"},{"_id":"FS7RMPIO6VA4XCVXYV4GYLRJYY","additional_properties":{"_id":1728289303429},"content":"This week’s <a href=\"https://www.irishtimes.com/budget/\" target=\"_blank\">budget</a> brought a range of measures likely to further damage Ireland’s already fragile relationship with institutional investors, at a time when we need them most.","type":"text"},{"_id":"YZWYUHFY7ZGP5FABC7PARIDBNY","additional_properties":{"_id":1728289303430},"content":"The headline-grabbing stamp duty hike, from 10 per cent to 15 per cent on bulk residential property purchases, designed to discourage investors from acquiring large housing portfolios, seems unnecessary given the strict planning regulations introduced in 2021. These regulations have already restricted bulk buying, reserving nearly 50,000 houses and duplexes exclusively for individual buyers, effectively preventing their sale to investment funds.","type":"text"},{"_id":"WELOZP36BRFKDEYH7FS5AMCT3Q","additional_properties":{"_id":1728289303431},"content":"With relatively few housing developments still held by institutional investors, this new 15 per cent stamp duty will likely lead to properties being broken up and sold individually. While this might modestly increase the housing stock for sale, the reduction in rental property availability will exacerbate pressure on an already strained rental market.","type":"text"},{"_id":"JSGL5OY2JVGKXA5DZJUAAP2BUY","additional_properties":{"_id":1728289303432},"content":"The introduction of a 6 per cent stamp duty on properties valued at more than €1.5 million initially caused confusion, especially regarding its impact on sectors such as the private rented sector (PRS) and student accommodation. Although the Government clarified that these sectors are exempt, such uncertainty is unsettling for investors, particularly in a market where rising construction costs and regulatory challenges are already eroding margins.","type":"text"},{"_id":"YWBNBI3EABD2FI5HUIFCYSHG6Q","additional_properties":{"_id":1728289303433},"content":"In May, Minister for Housing Darragh O’Brien emphasised the importance of foreign investment in addressing Ireland’s housing crisis, acknowledging that international capital is needed to fund large-scale developments and increase the supply of new homes. Yet, with each new tax and regulation, the message being sent to investors is one of caution, if not outright deterrence.","type":"text"},{"_id":"4K3M44BGPVHHTCSEU67RUXM4QA","additional_properties":{"_id":1728289303434},"content":"Institutional investors have played a pivotal role in Ireland’s housing market, particularly in the PRS market, where they have financed the development of large apartment developments that provide much-needed long-term rental housing. These projects have been crucial in increasing supply, which is something the Government acknowledges we desperately need. But the introduction of rent caps, coupled with higher taxes on bulk buying, raises concerns about whether investors will continue to see Ireland as a welcoming environment.","type":"text"},{"_id":"2WJNEQZ7VBFXZM32JD6I2LSUXY","additional_properties":{"_id":"TGKHLV7QVBGZ5KI2BL5W2EDM4A"},"subtype":"pullquote","type":"quote"},{"_id":"D5CHYJ6QDBDPLLUQMAZJUNQM2M","additional_properties":{"_id":1728289303435},"content":"The Government has set ambitious housing targets and has openly stated that private capital is needed to achieve them. However, each new measure seems to make it more difficult for that capital to flow into the housing sector. The higher stamp duty rates and regulatory restrictions may serve to protect homebuyers in the short term, but in the long term they risk reducing the flow of investment that is necessary to build the homes we so desperately need.","type":"text"},{"_id":"5PIPFF3FSVCTPISL6DMJGCA33I","additional_properties":{"_id":1728289303436},"content":"Ireland cannot afford to alienate the very investors who have the capacity to fund large-scale housing developments. If the goal is to increase the supply of homes, we must strike a balance that protects individual homebuyers while still encouraging institutional investment. Without this balance, we risk exacerbating the housing crisis rather than solving it. The Minister for Housing’s comments about the need for foreign investment ring hollow when they are not backed by policies that make Ireland an attractive destination for that investment.","type":"text"},{"_id":"CK3JKLHHWJB53IWQSTZQOXVNFE","additional_properties":{"_id":1728289303437},"content":"It is time for the Government to reconsider its approach to this issue. The housing crisis cannot be solved without private capital, and if investors feel unwelcome they will simply take their money elsewhere. The stakes are too high for mixed messages and confusion. We need clarity, consistency and a genuine commitment to fostering an environment where both homebuyers and investors can thrive.","type":"text"},{"_id":"4RKZOHP2AVEMDMQ3LEW7QK7HVY","additional_properties":{"_id":1728289303438},"content":"The Government must decide whether it truly wants to attract the investment needed to build more homes, or if it will continue to send conflicting signals that risk driving investors away. The measures introduced in this week’s budget may be well-intentioned, but they are yet another indication that Ireland is becoming a less welcoming place for international investors – a message that, if left unaddressed, could have serious consequences for our housing market.","type":"text"},{"_id":"Y5C6YHJVGZBPVFHF2AYEKFSWOA","additional_properties":{"_id":1728289303439},"content":"<i>Clarie Neary is director of residential management and lettings at Savills Ireland</i>","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{}},"name":"Clarie Neary"}]},"description":{"basic":"Budget day measures such as higher stamp duty are yet another indication that Ireland is becoming a less welcoming place for international investors"},"display_date":"2024-10-09T04:00:00Z","headlines":{"basic":"Budget 2025 – more mixed messaging on international investment in housing","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"KK4SB47PCZBH7EYG336TD7HP34","auth":{"1":"71e5ab991f4cbf3ed978e3d08b171c3565f9c7af190107e08159a04d43dcccd3"},"focal_point":{"x":2128,"y":1341},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/KK4SB47PCZBH7EYG336TD7HP34.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/09/budget-2025-more-mixed-messaging-on-international-investment-in-housing/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"TZ6WFD7SS5G3PG57F6XFHGCDMY","additional_properties":{"audio_duration":167,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/6d50be29-78d0-42e7-a310-225209c2c911/versions/1728302790/media/4d81446163c9409ff8c8d83093bcd0f0_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/09/site-with-planning-permission-for-113-apartments-in-dublin-12/","content_elements":[{"_id":"LFHT6CHZ25HWRKTVGYUSYYPCBU","additional_properties":{"_id":1728301730796},"content":"An interesting development opportunity at Herberton Road, Dublin 12, is coming to the market with full planning permission for the construction of 113 apartments, as well as commercial space.","type":"text"},{"_id":"LFHT6CHZ25HWRKTVGYUSYYPCBU","additional_properties":{"_id":1728301730797},"content":"Savills expects strong interest in Canal House, a well positioned 0.77 hectare (1.89 acres) site, in a strategic and well-connected location, with a guide price of €8.25 million.","type":"text"},{"_id":"F6BPDYJR55HX7AOKIDRA5FZXRE","additional_properties":{"_id":1728301730798},"content":"Demand for housing remains strong: latest figures from the Central Statistics Office show that property prices are now rising at a rate of about 10 per cent a year, amid a stock shortage. Last month the Central Bank said that about 52,000 new homes could be needed per year out to the middle of the century, to cope with demand.","type":"text"},{"_id":"YCCSBY4U4ZBJNJICB7RZEZIOW4","additional_properties":{"_id":1728301730799},"content":"The Canal House development has full planning permission for a significant apartment scheme of 113 units, comprising a mix of 57 one-bed and 56 two-beds, varying in size from an average floor area of 484sq ft for the one-beds to 915sq ft for the two-beds.","type":"text"},{"_id":"UVMV43CAAFF5HOOMY5PEKWHHSA","additional_properties":{"_id":1728301730801},"content":"The commercial accommodation, of some 2,155sq m, is provided across the ground floor of Block C and the entirety of Block D, comprising of medical, cafe/retail and community/arts/cultural space.","type":"text"},{"_id":"JCY7CYQQWJH2RH63IOM7SD6I3Q","additional_properties":{"_id":1728301730802},"content":"In addition, planning permission also allows for 60 parking spaces, five motorcycle spaces and 166 bicycle spaces, all at basement level.","type":"text"},{"_id":"F6BPDYJR55HX7AOKIDRA5FZXRE","additional_properties":{"_id":1728301730803},"content":"The site is well located at the intersection of Herberton and Dolphin Road in Rialto, Dublin 12. The area is experiencing substantial urban renewal and regeneration into a mixture of student accommodation, residential and commercial uses.","type":"text"},{"_id":"BDMIV275BRCGHHA4RXCAGYP3EE","additional_properties":{"_id":1728301730804},"content":"There are various transport amenities serving the area including the Luas Red line at Rialto and Suir Road, both of which are a seven-minute walk from the site. The area is well served by several Dublin Bus routes, while Heuston Station provides train access across the country.","type":"text"},{"_id":"F6BPDYJR55HX7AOKIDRA5FZXRE","additional_properties":{"_id":1728301730805},"content":"Karl Lynch of Savills said: “We expect particularly strong interest in this property, especially considering the recent grant of planning, along with proximity to public transport and a number of key employers in the immediate area, such as St James’s Hospital and the new children’s hospital, to name a few.”","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Canal House on Herberton Road is in an area of substantial urban renewal"},"display_date":"2024-10-09T04:00:00Z","headlines":{"basic":"Site with planning permission for 113 apartments in Dublin 12","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"BS75DDPKAZBIJD52H24BB7W26E","auth":{"1":"84070317b6d1e7c0d1b0f3c41f5275f6290f1887197642f40a99d1a31af9b1f0"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/BS75DDPKAZBIJD52H24BB7W26E.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/09/site-with-planning-permission-for-113-apartments-in-dublin-12/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"NJEBCXFZO5FUVCTOF632J7EYWY","additional_properties":{"audio_duration":131,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/d78accbf-3835-4a3a-b222-12247dedc45d/versions/1727707199/media/07134a9fdf6816ec6568b274ca151578_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/09/mixed-use-on-thomas-street-for-37m/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1727691055247},"content":"A fully let mixed-use investment opportunity in Dublin 8 is being brought to market, quoting €3.7 million.","type":"text"},{"_id":"VTOGV42VSRGERKJQT7H2WLGUKQ","additional_properties":{"_id":1727706420654},"content":"According to selling agent Lisney, the sale offers investors “an excellent opportunity” to acquire a high-profile mixed-use building. 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This closed however in February 2023, and the space was subsequently let to a neighbourhood bar, Love Tempo, producing an annual income of €110,000.","type":"text"},{"_id":"DQLULOGICNDTBOSFD4T5ZERMIQ","additional_properties":{"_id":1727706420657},"content":"The entire building extends to about 7,466sq ft and generates a combined passing rent, from the bar and apartments, of €261,140 a year.","type":"text"},{"_id":"ASDN5NFNRRGZTLC72XIOHPG4UE","additional_properties":{"_id":1727706420658},"content":"The upper floor residential units are self-contained apartments and benefit from separate access to the public house. The residential units have recently undergone significant refurbishment works and now present to a high standard.","type":"text"},{"_id":"Y3S2NXSR4BHTJDWANRZ6FLIALY","additional_properties":{"_id":1727706420659},"content":"The location of the property is in a sought-after area, close to the city centre, with a wealth of amenities and services nearby, including the aforementioned National College of Art & Design, Vicar Street entertainment venue, St Catherine’s Church, The Digital Hub, and the Guinness Storehouse and visitor centre.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"With a passing rent of more than €250,000, this property offers ‘a winning combination of convenience and potential’"},"display_date":"2024-10-09T04:00:00Z","headlines":{"basic":"Mixed-use on Thomas Street for €3.7m","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"SPX5YE23ANHZDL4LVBZWG633NA","auth":{"1":"c3792eac304654418f069f33d677b9e04c0d5447c93cf71366383c0453f516f9"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/SPX5YE23ANHZDL4LVBZWG633NA.JPG"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/09/mixed-use-on-thomas-street-for-37m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"G6JI7FXZF5F45H6VRJQLVYTWQA","additional_properties":{"audio_duration":215,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/244497fd-9940-462a-a549-19b9a2652fa5/versions/1728309064/media/825d7d32b879d970885564bcfe1e0be7_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/09/office-redevelopment-opportunity-off-st-stephens-green-for-13m/","content_elements":[{"_id":"552EMSNZLJEXHNMIOJ4PZY7EWY","additional_properties":{"_id":1728307482780},"content":"Strong interest is expected in Montague Court, a 1970s office building primed for redevelopment in Dublin’s city centre. 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The buildings BER rating is E1, and it no longer meets contemporary office occupier requirements, in particular from a sustainability and energy efficiency perspective.","type":"text"},{"_id":"H57VHNVLCNBZHNWBGWAHU5TTRY","additional_properties":{"_id":1728307482784},"content":"Agents HWBC say that the site’s potential is not being maximised and the property is ripe for redevelopment. Given its central location it is expected that it would be suited for a number of uses, including student accommodation, hotel or offices as it is located in Zone Z5 – city centre.","type":"text"},{"_id":"66YEMHBPCZEF5OVJDHSOEJT5YM","additional_properties":{"_id":1728307482785},"content":"The site has significant development potential. Feasibility studies by RKD Architects have identified significant development potential for a new eight storey over-basement office building of about 9,600sq m (103,000sq ft) GIA, or alternatively a new 133-bedroom hotel. A purpose built 154-unit student accommodation block could also be an option – all subject to planning permission.","type":"text"},{"_id":"ZAZXOUBEG5EU3B4SWA6SXJZPOM","additional_properties":{"_id":1728307482787},"content":"The property is located on Montague Street, which links Harcourt Street with Camden Street and accessed off Montague Lane. This is a prime Dublin 2 location and surrounded by a vibrant mix of retail, hospitality, leisure and culinary amenities in the Camden Street/Wexford Street area.","type":"text"},{"_id":"EEP2FVTMZNCHBPOCZDAX27NWJQ","additional_properties":{"_id":1728307482788},"content":"The area has seen substantial renewal and development in recent years, including the nearby Wythe Building and the Greenside Building, a new 10 storey office building under construction on Cuffe Street.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Possible options for 1970s property include eight-storey office building, 133-room hotel or 154-unit student accommodation block"},"display_date":"2024-10-09T04:00:00Z","headlines":{"basic":"Office redevelopment opportunity off St Stephen’s Green for €13m","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"4Z2QVOUE7RB5PFZCPWJQZAVDLY","auth":{"1":"ae3c6ca6f487b5b7793118a3277f5e4279d56769fccf314b9453473ec4ebeee1"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/4Z2QVOUE7RB5PFZCPWJQZAVDLY.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Business"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/09/office-redevelopment-opportunity-off-st-stephens-green-for-13m/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"TEPLHSIZG5FPBPNUEKBO6L3XOY","additional_properties":{"audio_duration":181,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/d9109583-1f28-4d92-bddc-07f983c140b8/versions/1728308262/media/90b2c7590c9c48e4e97586141a9c31ac_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/09/price-cut-of-40-on-waterford-factory/","content_elements":[{"_id":"JFIVIEGQ7VAZ5LDNF5FUVGBZ5U","additional_properties":{"_id":1727773971039},"content":"Joint agents Lisney and CBRE are bringing the former Cartamundi production facility in Waterford city back to market at a significantly reduced guide price of €11 million.","type":"text"},{"_id":"Q6SK7E6ZLJFVRHNYPMHEVFMGVA","additional_properties":{"_id":1727788638556},"content":"The Belgian board game manufacturer, maker of games including Monopoly, Scrabble and Trivial Pursuits, said it would close its Irish operation in <a href=\"https://www.irishtimes.com/business/2023/03/22/monopoly-maker-cartamundi-to-shut-waterford-plant-with-loss-of-234-jobs/\" target=\"_blank\">March 2023</a>, with the loss of more than 200 jobs. It blamed the impact of the Covid 19 pandemic for the decision.","type":"text"},{"_id":"HZU3WG3YWVAEHDZ56VQ6X72XVA","additional_properties":{"_id":1727788638557},"content":"Cartamundi subsequently put its facility on the market in <a href=\"https://www.irishtimes.com/property/commercial-property/2023/09/27/former-cartamundi-factory-in-waterford-guiding-at-1785m/\" target=\"_blank\">September 2023</a>, guiding €17.85 million.<b> </b>However, it failed to sell at this price, and the property has been re-launched to the market at a reduced guide price.","type":"text"},{"_id":"ZMF7JLW2ORASNOCOC6VNKE6LDQ","additional_properties":{"_id":1727788638558},"content":"The building, in the IDA Industrial Estate on the Cork Road, extends to a total floor area of 22,914sq m (246,646sq ft) and includes ancillary office accommodation of about 1,023 sq m (11,010 sq ft). Clear internal heights in the facility are in the 4.6-11m, and loading access is provided via 19 dock levellers and multiple grade level doors to separate elevations. The facility also benefits from a secure, self-contained site of about 5.66 hectares (about 14 acres), with about three acres undeveloped. This provides potential purchasers with the opportunity to expand via a large yard to gable end, or to extend the existing warehouse section of the facility.","type":"text"},{"_id":"KTMWEDEWN5DGBP56QLSFSK2TQU","additional_properties":{"_id":1727788638559},"content":"The surrounding environs have proven very popular among well-established healthcare and pharmaceutical companies, including Bausch & Lomb, Teva Pharmaceuticals, West Pharmaceutical and Sanofi. There are also multiple trade, storage and logistics-related occupiers including Chadwicks, Bolands, U-Store It, Store-All Logistics and Waterford Stanley based in the area.","type":"text"},{"_id":"4XQ4AAWXWBFARE47VUMBDXODSA","additional_properties":{"_id":1727788638560},"content":"James Kearney of Lisney Commercial Real Estate said the sale offered “a unique opportunity” for owner occupiers and investors alike to secure a substantial high-profile, fully serviced property in a market where there are very challenging supply issues.","type":"text"},{"_id":"OJWQDRJL3ZAF3OMSKC3S7QOXSE","additional_properties":{"_id":1727788638561},"content":"“The facility offers parties the ability to secure a turn-key building with expansion potential at a fraction of the cost, and in a much shorter time frame, than a greenfield build. The location benefits from a superb road network and an excellent workforce catchment, with both a university and many high-profile businesses already located in the immediate area.’’","type":"text"},{"_id":"5GQX5MEP6NBKHLJP7RPVZ5H57Y","additional_properties":{"_id":1727788638562},"content":"Bids are invited by 4pm on Tuesday, November 5th.","type":"text"},{"_id":"YCDY6C2IB5FUNMX3YVDX7FFP3I","additional_properties":{},"type":"list"}],"content_restrictions":{"content_code":"metered"},"credits":{"by":[{"additional_properties":{"original":{"byline":"Fiona Reddan"}},"name":"Fiona Reddan"}]},"description":{"basic":"Former Cartamundi factory is back on the market with a significantly reduced guide price of €11m"},"display_date":"2024-10-09T04:00:00Z","headlines":{"basic":"Price cut of 40% on Waterford factory ","native":""},"label":{"audio_project_id":{"text":"8948"}},"promo_items":{"basic":{"_id":"KQ52R5SSYFEMBGVPEPBHEMEIM4","auth":{"1":"3d209bdb36ff490afcd176e452764021dd9c972191ae652573960f301ecbdeb8"},"url":"https://cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/KQ52R5SSYFEMBGVPEPBHEMEIM4.jpg"}},"subtype":"default","taxonomy":{"sections":[{"name":"Commercial Property"},{"name":"Property"}]},"type":"story","website_url":"/property/commercial-property/2024/10/09/price-cut-of-40-on-waterford-factory/","websites":{"irishtimes":{"website_section":{"_id":"/property/commercial-property","additional_properties":{"original":{}},"name":"Commercial Property"}}}},{"_id":"7UISKASSGZHVDIEADG3PXA3EMM","additional_properties":{"audio_duration":134,"audio_url":"https://d22tbkdovk5ea2.cloudfront.net/audio/projects/8948/podcasts/b3c6d18a-d4ba-4507-bc17-1679a98af9b8/versions/1728383155/media/1e0d8b498d4084400b55fbf346c138e6_compiled.mp3"},"canonical_url":"/property/commercial-property/2024/10/09/development-opportunity-in-dublin-8-for-25m/","content_elements":[{"_id":"WDDT5EZ32JFW3D4IRNLCQGAG5Q","additional_properties":{"_id":1728381219006},"content":"A significant development or refurbishment opportunity in bustling Dublin 8 is likely to be of interest to investors as well as owner-occupiers.","type":"text"},{"_id":"PQ3KFHCAHFCONFJ7S3WFYJX3LM","additional_properties":{"_id":1728381219007},"content":"Brought to market by Colliers, at a guide price of €2.5 million, 36-37 Harrington Street and Archbishop Byrne Hall, Dublin 8, are being sold on behalf of the Catholic Guides of Ireland Eastern Region. 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