Google Pull out of Building Project in Docklands

Horsebox9000

https://www.irishtimes.com/business/commercial-property/tech-giant-google-pulls-out-of-office-deal-in-dublin-docklands-1.4348998


What do people make of this? A consequence of Covid or something else altogether? Did Gemma finally nag Google enough?

According to the Journal though, it's a multinational fat cat blah blah so surely them pulling investment out of the country must be good?

Genuinely sad to see this happen, maybe we can get some 8 stories (which get reduced to 5 stories) apartment blocks instead.

_Brian

Probably a bad time to invest with recession knocking at the door.

skinny90

Horsebox9000 wrote: »

https://www.irishtimes.com/business/commercial-property/tech-giant-google-pulls-out-of-office-deal-in-dublin-docklands-1.4348998


What do people make of this? A consequence of Covid or something else altogether? Did Gemma finally nag Google enough?

According to the Journal though, it's a multinational fat cat blah blah so surely them pulling investment out of the country must be good?

Genuinely sad to see this happen, maybe we can get some 8 stories (which get reduced to 5 stories) apartment blocks instead.

Bound to happen given the current climate, their current site is still operational, had they chosen not renew current lease then that could be more worrying

ChikiChiki

Remote working and social distancing measure making it utterly pointless in the short to medium term.

zom

ChikiChiki wrote: »

Remote working and social distancing measure making it utterly pointless in the short to medium term.

"Two-edged sword" - we grabbed off US jobs before and now, in remote working era, someone cheaper grabbed it off us

https://youtu.be/KskY3sZibkE?t=37

ednwireland

what do people think there pensions are invested in, if commercial properties become un leasable the pension funds will take a massive hit.

why do you boris is telling people to go to the office !

Dyr

At some point we're gonna have to learn that property is not the bedrock of a stable economy.

PukkaStukka

Bambi wrote: »

At some point we're gonna have to learn that property is not the bedrock of a stable economy.

Couldn't agee more. And you'd think that our government would be wary of being so beholden to the same set that caused us so much pain 12 years ago.

Anyway I too am watching this development with interest to see what transpires. I know of one large organisation due to decamp to a new building in the docklands that this may have them scratching their chins

skinny90

and there is another big US company who has a site near the docks announce internally that the citywest campus site(which is pretty big) is up for review and they are not renewing their lease...its starting folks

Gatling

I can imagine in 12-18 months new planning applications for change of use from office space to residential use

Hodors Appletart

loads of ready to go co-living spaces

Augme

Gatling wrote: »

I can imagine in 12-18 months new planning applications for change of use from office space to residential use

You'd wonder how many people would actually want to live there if they don't have to work there though. Grand canal and the surrounding area is full of people who live there because they work there, given the prices they have been paying I can also see a huge drop in rental fees for the area in the next year or so.

Hodors Appletart

Augme wrote: »

You'd wonder how many people would actually want to live there if they don't have to work there though. Grand canal and the surrounding area is full of people who live there because they work there, given the prices they have been paying I can also see a huge drop in rental fees for the area in the next year or so.

yeah and there's damn all around the area too but if people moved in you mgiht get more stuff opening up

Donald Trump

Google make all their decisions by looking up the answers on Ask Jeeves.


In this case, Ask Jeeves brought them to some posts on boards.ie that told them Ireland is fucked

silverharp

Are their buildings off Pearse st going to be finished?

douglashyde

This was a rental not a purchase agreement.

Work from home which will never fully go away + headcount freeze = reduced need for future office space.

HugoMyBoss

Who owns the building that Google are renting in the docklands?

Gatling

HugoMyBoss wrote: »

Who owns the building that Google are renting in the docklands?

Some south Korean company

Eric Cartman

ChikiChiki wrote: »

Remote working and social distancing measure making it utterly pointless in the short to medium term.

Upwards only rent reviews, leave the thing vacant for the next 12-18 months while the pandemic rages, come back to it with 30% off the initial rent after that and lock the rent for 5 years. It'd probably save them 2-3 million quid.

Gatling wrote: »

I can imagine in 12-18 months new planning applications for change of use from office space to residential use

A lot of the new hotels that got fast track planning were all built in such a way that they can become co-living at the drop of a hat. Which I suspect was the original intention all along, co-living was just controversial and took way longer to get approved.

Biker79

This is the start of a process that I hope ends with Dublin city centre becoming more liveable.

It has been too expensive and unpleasant for too long. Nearly 2000 a month for a two bed apartment only to to have junkies and homeless vomiting and crapping all over the place.

Lets hope that after a reboot it comes up cleanly.

Eric Cartman

Biker79 wrote: »

This is the start of a process that I hope ends with Dublin city centre becoming more liveable.

It has been too expensive and unpleasant for too long. Nearly 2000 a month for a two bed apartment only to to have junkies and homeless vomiting and crapping all over the place.

Lets hope that after a reboot it comes up cleanly.

Its why co-living spaces or 'hotels' are thriving , the only planning that doesn't require social housing, trying to pack in so many working people into Dublin that it forces out the junkies and the homeless. north city centre needs to be cleared though.

PukkaStukka

Eric Cartman wrote: »

Its why co-living spaces or 'hotels' are thriving , the only planning that doesn't require social housing, trying to pack in so many working people into Dublin that it forces out the junkies and the homeless. north city centre needs to be cleared though.

Seriously, where does one put them if you clear them out? Apart from effective rehabilitation, there is no easy fix for these issues otherwise it would've been done by now. And most of these people have their support networks living in proximity so removing them from that network won't work either.

Thelonious Monk

PukkaStukka wrote: »

Seriously, where does one put them if you clear them out? Apart from effective rehabilitation, there is no easy fix for these issues otherwise it would've been done by now. And most of these people have their support networks living in proximity so removing them from that network won't work either.

Anywhere, but it's not fair that they have the city centre such a kip and they continue to be given housing there, new build luxury housing too these days.

bennyineire

A boost for employment opportunities for people in the rest of Ireland. Believe it or not there is a whole other country outside of the M50.

We are now in the middle of a Work from Home revolution and this is great news for a rural Ireland.
Dublin and its 90-120 minutes commute can kiss my ass

whisky_galore

Thelonious Monk wrote: »

Anywhere, but it's not fair that they have the city centre such a kip and they continue to be given housing there, new build luxury housing too these days.

They don't just disappear, unless you got some kind of final solution in mind.

Jinglejangle69

Great.

Might free up some prime apartments for our 10,00 homeless.

Eric Cartman

PukkaStukka wrote: »

Seriously, where does one put them if you clear them out? Apart from effective rehabilitation, there is no easy fix for these issues otherwise it would've been done by now. And most of these people have their support networks living in proximity so removing them from that network won't work either.

Spread them out into smaller clusters so they can’t form whole estate gangs.

Working people cant afford to he near their ‘support networks’ , that argument has to be completely thrown out. I also feel like when thats said that its a sly way of saying ‘drug dealer’

landofthetree

Jinglejangle69 wrote: »

Great.

Might free up some prime apartments for our 10,00 homeless.

The project started months ago.

I wonder what the developer will do?

Dyr

whisky_galore wrote: »

They don't just disappear, unless you got some kind of final solution in mind.

Its good news for Dublin too, housing prices and commutes will drop, hopefully airbnb will **** off, the city wont be jammed to the rafters with tourists and spud gobblers in boot cut wranglers

Sir Oxman

bennyineire wrote: »

A boost for employment opportunities for people in the rest of Ireland. Believe it or not there is a whole other country outside of the M50.

We are now in the middle of a Work from Home revolution and this is great news for a rural Ireland.
Dublin and its 90-120 minutes commute can kiss my ass

I agree - and I'm a Dub!
What the rest of the country needs now and rapidly is workable, stable broadband and the job is oxo.

dhaughton99

Everyday I pass the massive HubSpot building along the quays which has only opened, yet no one is in it. I have never seen anyone in it apart from the receptionist. They even removed all the cups and cutlery from the cafe they have inside the entrance.

ChikiChiki

Biker79 wrote: »

This is the start of a process that I hope ends with Dublin city centre becoming more liveable.

It has been too expensive and unpleasant for too long. Nearly 2000 a month for a two bed apartment only to to have junkies and homeless vomiting and crapping all over the place.

Lets hope that after a reboot it comes up cleanly.

Agree - we were becoming the next San Francisco quite quickly.

zom

ednwireland wrote: »

if commercial properties become un leasable the pension funds will take a massive hit.

With Covid there is no flights to Hawaii or Italy for pensioners anyway...

nthclare

Bambi wrote: »

Its good news for Dublin too, housing prices and commutes will drop, hopefully airbnb will **** off, the city wont be jammed to the rafters with tourists and spud gobblers in boot cut wranglers

Spud gobblers in boot cut wrangler's, we've the opposite problems in the west of Ireland.

Oyster sucker's and fur coat and no knicker slickers...

Pretentious bell ends asking for directions to Fr Ted's house, I give them the tourism route, a 30 kilometers round trip that can be cut short by first right at the expo center and stay left....8 minutes at average speed..

Joking about the round trip, but after that Jackeen taxi driver gave me the tour de Cliath last year I couldn't take it out on the yawwws from The Souzth soide loike

Granadino

nthclare wrote: »

Spud gobblers in boot cut wrangler's, we've the opposite problems in the west of Ireland.

Oyster sucker's and fur coat and no knicker slickers...

Pretentious bell ends asking for directions to Fr Ted's house, I give them the tourism route, a 30 kilometers round trip that can be cut short by first right at the expo center and stay left....8 minutes at average speed..

Joking about the round trip, but after that Jackeen taxi driver gave me the tour de Cliath last year I couldn't take it out on the yawwws from The Souzth soide loike

All for the Instagram shots, and they're probably all working in advertising. ****.

James Brown

Companies were gradually beginning to move to the home office set up prior to Covid.
Anyway, it makes sense not to be investing in office space nobody will be using for the immediate future.
Be a slow realisation of the new norm, once we even know what that might look like, but a vaccine could turn that on it's head within months of release.
Covid aside, the company tower block is on the way out IMO.

kona

Wait until they realise that once they get people working from home, they may aswell employ the lads from india on half the price of the Irish lad.
Id be very worried about where this is heading.

nthclare

Granadino wrote: »

All for the Instagram shots, and they're probably all working in advertising. ****.

Not for long, people are getting tired of Instagram and Facebook etc...

All those companies have been worth a fortune on paper, but the new Facebook and Instagram will be not having Facebook and Instagram..

People are already deleting Facebook and just holding onto the messenger

It's sad that Google aren't moving in, because I know people need work and local business would depend on the shortfall.

My own son had his eye on getting a job with Google, but something will come up.

He has the farm to fall back on anyhow.

Sebastian Dangerfield

Biker79 wrote: »

This is the start of a process that I hope ends with Dublin city centre becoming more liveable.

It has been too expensive and unpleasant for too long. Nearly 2000 a month for a two bed apartment only to to have junkies and homeless vomiting and crapping all over the place.

Lets hope that after a reboot it comes up cleanly.

Forgive my lack of knowledge about the workings of local government, but who is responsible for the current situation?

Rents are sky high, young people from the inner city are being forced out of their localities, and the north city centre is crumbling, getting worse by the month. Yet endless hotels and office buildings are approved, not to mention the white water rafting vanity project in the IFSC.

I had a look at the members of DCC and was really surprised to see the amount of left-leaning parties and independants represented. I can't tally how they are all so vocal that its Fine Gael and Fianna Fails fault at national level, yet they have such strong representation at local level to seemingly no effect. What am I missing?

nthclare

kona wrote: »

Wait until they realise that once they get people working from home, they may aswell employ the lads from india on half the price of the Irish lad.
Id be very worried about where this is heading.

People will hopefully bycot Google if that's the case.
I've seen it over the years, highs and lows in the big multinationals.
Banks giving out huge loans based on people's job security and pufff Jobs gone at the stroke of a pen and a quick meeting.

A friend of mine is an actuary and he said never apply for the big fancy Jobs with the bells and whistles, find something you enjoy and have a few hobbies and interests.
Maybe write a book or play or something.

Stay the hell away from the conglomerates...

Sorolla

kona wrote: »

Wait until they realise that once they get people working from home, they may aswell employ the lads from india on half the price of the Irish lad.
Id be very worried about where this is heading.

There is an old rule of thumb

Say you have $100,000
It makes more sense to hire 2 engineers and pay them a salary of $50,000 each than to hire 10 engineers in a low wage country at a salary of $10,000 each

The less complexity the better

I see no risk for the highly skilled Irish workforce

Biker79

Sebastian Dangerfield wrote: »

Forgive my lack of knowledge about the workings of local government, but who is responsible for the current situation?

Rents are sky high, young people from the inner city are being forced out of their localities, and the north city centre is crumbling, getting worse by the month. Yet endless hotels and office buildings are approved, not to mention the white water rafting vanity project in the IFSC.

I had a look at the members of DCC and was really surprised to see the amount of left-leaning parties and independants represented. I can't tally how they are all so vocal that its Fine Gael and Fianna Fails fault at national level, yet they have such strong representation at local level to seemingly no effect. What am I missing?

No idea. But what you say makes sense. If we look at cities with left leaning administrators in the US for example, they are also deteriorating with the same problems. I guess its idealism informing important decisions rather than pragmatism.

There are videos of LA and SF city centres on youtube that are truly shocking, with the level of drugs/ homelessness.

Part of the problem has been the closure of mental institutions, with all the patients eventually ending up on the streets. In Dublin, the North Inner City is full of shelters/ hostels. Most of these people need hospitalisation...but you have to wonder why there is so much mental health issues in the first place.

Anyway...going off topic a bit.

lsjmhar

Curing addiction and poverty is simple, we've done it thousands of times!! 😉😉

lsjmhar

kona wrote:

Wait until they realise that once they get people working from home, they may aswell employ the lads from india on half the price of the Irish lad. Id be very worried about where this is heading.

Good observation!

Spanish Eyes

As pp have said, perhaps housing will take over from offices in these areas. Would revitalise the place since so many are working from home in the suburbs.

Bring life back, get the restaurants and shops going again. Doesn't matter where anyone lives in the city if they are WFH anyway. Put the offices in the suburbs and extremities, and let the workers live in and enjoy the city. Am I missing something?

MadYaker

the only people dumb enough to live in dublin city centre these days are foreigners fresh off the plane

Granadino

nthclare wrote: »

Not for long, people are getting tired of Instagram and Facebook etc...

All those companies have been worth a fortune on paper, but the new Facebook and Instagram will be not having Facebook and Instagram..

People are already deleting Facebook and just holding onto the messenger

It's sad that Google aren't moving in, because I know people need work and local business would depend on the shortfall.

My own son had his eye on getting a job with Google, but something will come up.

He has the farm to fall back on anyhow.

After a few years in advertising surrounded by the jargon he’ll appreciate working on a farm eventually !

Granadino

kona wrote: »

Wait until they realise that once they get people working from home, they may aswell employ the lads from india on half the price of the Irish lad.
Id be very worried about where this is heading.

Their phone support is already outsourced to India. Has been for a while. Not that I have an issue with that.

nthclare

Granadino wrote: »

Their phone support is already outsourced to India. Has been for a while. Not that I have an issue with that.

I think some of our mobile phone companies use Indian guys for technical issues and bills etc

I had to have a few chats with them Via text in a chat box thing and they had my issues sorted out in minutes.

And I must admit, they're quite friendly mannerly and very quick at helping you out.

ILoveYourVibes

Its a recession. Nothing will happen for a while.

Assetbacked

ednwireland wrote: »

what do people think there pensions are invested in, if commercial properties become un leasable the pension funds will take a massive hit.

why do you boris is telling people to go to the office !

If your pension fund is invested in property you are a risk hungry type of pension investor, this would be part and parcel. That being said, if your Irish pension fund was taking exposure to Irish property, you've missed the boat to make gains.