Could office construction in Dublin soon come to a full stop?
Inside Business podcast with Ciarán Hancock
Inside Business podcast with Ciarán Hancock
Addleshaw Goddard Ireland to occupy 28,000sq ft across first and second floors of modern office building
Sherry FitzGerald says rent caps remain ‘a significant issue’ for institutional investors seeking to invest in Ireland
New technology could unlock at least some of the €150 billion sitting in savings accounts and allow for investment in real estate in smaller, accessible amounts and at an earlier stage in life
Block 2 at Blackrock Business Park producing rental income of €999,999 per annum from strong tenant line-up
Former CBRE executive director expected to assist firm in driving ambitious growth strategy
Latest figures from BNP Paribas Real Estate show first-quarter spend came in at €161.7m, or just 15% of 10-year average
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Robbie Coakley, formerly of Kroll and BNP Paribas Real Estate, to join newly established division
Developer retains a big portfolio of properties but is locked in numerous legal disputes
Inside Business podcast with Ciarán Hancock
Site located near Ratoath town with easy access to the M3, M4 and M3 Parkway train station for commuters
Activity fell in 2023 on the back of higher interest rates and valuation declines, but outlook is positive for year ahead
Central Bank officials discuss ongoing turmoil in the sector in response to cycle of rate hikes
Interest rates unlikely to be reduced in the short term, which will leave asset values under pressure
After several years of near-record activity, the value of investment has plummeted to a level not seen since 2013
Having weathered the Covid-19 pandemic, the market has been becalmed by elevated interest rates and inflation
Sale of Dean Hotel Group portfolio poised to propel value of hotel investment to €600 by year’s end
Just 17 pubs changed hands in the Dublin market this year, compared with the 30 sold in 2022
Retail is the one sector which remained somewhat resilient in 2023, although the sector had already been written down in value during the pandemic
Collaboration between public and private sectors vital if required 50,000-60,000 homes annually are to be built
Commercial real estate market under severe stress as sellers and buyers engage in price standoff
The level and value of investment withered in 2023 against a backdrop of elevated interest rates and inflation
Retail parks represented over €200 million of turnover in the last four quarters with a total of 10 parks trading
But demand for assets with long-term income and strong covenants across all sectors will continue in face of current downturn
Receiver sales should help to put a floor on the market in early 2024 while investor sentiment should improve thereafter
Once pricing adjustments bottom out, the market will see some of the most interesting opportunities in years
While 2024 will still see market distress and resulting forced sellers, most of the required pain has been taken this year
Sale exposes fault lines in London’s office market created in part by soaring interest ratess
The best news, analysis and comment from The Irish Times business desk
Stability review warns of contagion risk for wider financial sector from surging losses in real estate
Decision by An Bord Pleanála upholds planning permission granted by Dublin City Council in May 2022
New Wolseley restaurant comes as Square Mile aims to become leisure hotspot after drop in worker footfall
Market sources have estimated WeWork’s total footprint in Dublin to be around 37,000sq m
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Three-quarters are planning to raise new finance or refinance existing debt in coming year in face of elevated interest rates
Number 94-96 Middle Abbey Street has six apartments at present with scope for additional units subject to planning
Company to renegotiate its leases worldwide, calling rental costs ‘dramatically out of step with current market conditions’
The firm aims to grow Irish staff numbers and revenues by 25 per cent over the next three years.
Shares in co-working firm have slumped 95% in past year as it struggles to recover from Covid pandemic shutdowns
Value of market turnover between April and June was less than that recorded in any quarter during the pandemic, says BNP Paribas
Take-up levels hit second highest level on record in first six months of 2023
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