Donnybrook Hotel Planning permission has been granted for a 71 bed, six storey hotel beside Donnybrook fire station. The planning has been granted to Emmet O’Neill’s firm Kouchin. Emmet O’Neill is the former head of Topaz and founder of Smiles Dental. Kouchin reduced rooms from 78 to 71, amongst other measures, in response to local concerns. The Irish Independent, 24th August
16-18 Pembroke Street Revised planning permission has been submitted to an Bord Pleanála for a five storey over basement, 108 bed hotel. Plans have been lodged by a consortium including US businessman Brian Clingen. The Irish Lights building was purchased in 2013 for €3.5m but previous plans to convert it to a hotel were rejected, and subsequent plans to convert it to an office did not proceed. The Sunday Business Post, 26th August
The Hive U+I, a UK property group who are working with Collen Construction, have started work on Ballymoss House site in Sandyford. The company intends to deliver more than 73,000 sqft of office space by redeveloping and refurbishing the existing property. U+I have noted that this project will form part of a pipeline of c 250,000 sqft they are developing in Dublin including Donnybrook House and Carrisbrook House in Dublin 4. Ballymoss House in Sandyford will be rebranded as “The Hive”. The Irish Independent, 23rd August
Dublin Docklands Savills and Owen Reilly are seeking €52.5m for 72 residential units, currently under construction, at Sir John Rogerson’s Quay. Targeted Investment Opportunities, a fund involving Oaktree Capital, Bennett Construction and NAMA, are developing the apartments which will form part of a mixed use development comprising residential, retail & office and will be ready by the first quarter of 2020. It is anticipated the apartments comprising 15 one bed, 43 two bed and 15 three bed apartments will have a total rental value of €2.9m. The Irish Times, 22nd August
313 Cherrywood Homes William Neville & Sons have been granted planning permission by Dun Laoghaire Rathdown County Council for 313 homes in Cherrywood. Once completed, and in addition to other developments, residential houses in Cherrywood will span across 400 acres on both sides of the M50, accommodating c 30,000 people within c 8,000 residential units. The Irish Independent, 23rd August
Hickey’s Site, Parkgate Street The Irish Independent is reporting that the 1.65 acre “Hickey’s site” in Parkgate street, Dublin 8, located beside Heuston Station has sold for in excess of €30m (c€18m per acre), 50% higher than Finnegan Menton’s €20m asking price. The Irish Independent, 26th August
Foxrock, County Dublin A 0.62 acre site, previously part of the grounds at Loreto College Foxrock girls secondary school, has been sold for €3.6m (€5.8m per acre), €600k ahead of Savills €3m asking price. The site has planning permission for 20 luxury apartments which are expected to obtain sales prices of €550,000- €650,000. The Irish Independent also reports that Bowbeck DAC have applied for planning permission for 250 new residential units on a 6.42 acre site on Golf Lane, Carrickmines. The Irish Independent, 26th August
Dublin Docklands Host, a student living specialist, and part of the O’Flynn Group, has launched the first phase of their 966-bed student accommodation next to the 3 Arena in the Docklands which will be named “Tramshed”. Student prices will start at €230 per week based on a 40 week or 51 week contract which will include all bills. The final part of the scheme, a 599-bed complex named “The Woodworks” is due to be completed before year end. Host already operates in 17 cities in the UK. The Irish Independent, 25th August
Charlestown Shopping Centre The Irish Times reports that Eamon Watters, owner of Panda Waste has obtained a significant stake in Charlestown Shopping Centre through Garristown Venture Holdings. The shopping centre and connected site with planning permission for 247 apartments and retail space was sold for in excess of €42m. Bannon and Savills asking price was €35.5m. The shopping centre, with an occupancy rate of 91%, is producing an annual income of €2.8m. Tenants include Dunnes Stores, Heatons, Boots, Leisureplex, Carphone Warehouse and Lifestyle sports. The Irish Times, 22nd August
Retail Growth Colliers note that retail investment transactions have fallen from 50% of all transactions in 2016 to 28% in 2017 and only accounted for 3.3% in the first quarter of 2018. Colliers comment that most shopping centres and retail parks have changed hands in the last five years so some reduction in transactions were to be expected. Colliers further highlight that despite foreign investment demand for retail decreasing yields, there is a lack of new occupier demand to support rental growth. Online shopping is noted as a cause for this with 12.5% of Ireland’s €40bn spend now online, with 60% of this to overseas companies. Despite the decline in retail, the food and beverage sector is increasing with demand deriving from Irish companies such as Press Up Group, Avoca, Fallon & Byrne. The Irish Times, 22nd August
Cushman and Wakefield released their 2017 report on Capital Flows in Irish Property, which showed approximately €17.9bn was transacted in the Irish Property Market in 2017. This is across both Residential and Commercial and represents a 1% increase on 2016. The 2017 split between residential and commercial spend was 80:20, compared to a 66:34 split in 2016. While Dublin again accounted for the majority of the spend (€9.9bn), it was down 9% year on year with Cork (€1.6bn) showing a 32% increase on 2016 figures. Galway, Meath and Wicklow also recorded strong increases in transaction volumes in 2017. Cushman & Wakefield, 27th August
While Dublin again accounted for the majority of the spend (€9.9bn), it was down 9% year on year with Cork (€1.6bn) showing a 32% increase on 2016 figures. Galway, Meath and Wicklow also recorded strong increases in transaction volumes in 2017. Cushman & Wakefield, 27th August
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