Johnny Ronan’s Ronan Group Real Estate (RGRE) has secured US private equity group Oaktree as a joint venture partner for the development of the former Irish Glass Bottle (IGB) site in Dublin. News of RGRE’s addition of the Los Angeles-headquartered investment giant as a partner on the scheme comes just weeks after The Irish Times reported how underbidders for the project had contacted Nama to express their continued interest in the site following the expiration of the 30-day time period the agency had set for the deal’s completion. The bid was well in excess of the €125 million guide price Nama had been guiding when it began marketing the opportunity in July 2019. It is also understood to have outstripped the offers made by the other shortlisted parties by a significant margin. The other shortlisted bidders were: Sean Mulryan’s Ballymore Group; Dallas-based private equity giant Lone Star’s Quintain Ireland housebuilding unit; and US real estate investment firm Hines. The former IGB site lands are held through a company called Pembroke Ventures. Some 10 per cent or 350 of the 3,500 homes planned for the site are to be set aside for social housing, while at least 15 per cent (525) are expected to be affordable housing. The site also has scope for up to one million sq ft of office and retail accommodation, along with a school and public space.
HotDudeLife wrote: » Do people foresee a crash in the rental market and it perhaps cascading onto house prices? I know a handful of people who have managed to negotiate 10-20% reductions off their rent when it came to renewing the lease, all reductions were none covid related (couples still working, not impacted). Personally most younger workers in my org from down the country have all stopped renting in Dublin or left their house share and returned home, that and the lack of students/tourists will surely drive rents down a lot? Maybe i am wrong but if i was a landlord i would sell now and if i was an investor a buy to let would be one of the last items on my list to invest in.
thefridge2006 wrote: » Covid-19 public spending unsustainable without vaccine – Donohoehttps://www.irishtimes.com/news/ireland/irish-news/covid-19-public-spending-unsustainable-without-vaccine-donohoe-1.4386188 Making excuses already for the fairy-tale budget that was never going to work
PropQueries wrote: » Looks like the Government has come up with a new way.....
Graham wrote: » Minister for Justice Helen McEntee said the government would look at the recommendation but “at this moment in time it’s not something that I can give a commitment to.”
Graham wrote: » If you're going to throw in hysterical posts about proposals and present them as policy, expect to get called on it.
PropQueries wrote: » Ok. I'll take your point. I guess we'll have to wait and see where this proposal goes.
Springy Turf wrote: » Your assertion that the people behind proposals to improve things for asylum seekers are somehow motivated by screwing over young workers is far-fetched, and pretty nasty.
PropQueries wrote: » Aw come on You know the purpose behind this 'recommendation'. I'm actually quite impressed. They have the younger workers by the proverbial this time. They have come up with a scheme to keep rents high indefinitely and where they can't complain or they will be labeled you know what.
Hubertj wrote: » i think this comment is extremely offensive.
salamiii wrote: » unemployment will keep rising.more houses will come on market.more rentals will come out as people move out due to high rents you looking at the next six months for this to happen you need to save up cash as the rainy day is coming
optogirl wrote: » Lads this is hard work. Looked at a house last week in D7. Asking price 265k. No bids in for 5 days so we put in one at asking price. Came back today to say current highest offer is at 310. Yikes.
stefanovich wrote: » Yes, liquidate all your assets into cash. Stick it in a 0% interest rate deposit account while they devalue the currency.
stefanovich wrote: » Do you believe the estate agent? Some just make up offers to inflate the price. Have a budget and stick to it. Call the estate agents bluff.
optogirl wrote: » Is this really a thing? I don't want to believe it is but I feel naive for saying that.....I think we might just leave it there and hope something else comes up in the area.
cnocbui wrote: » That's, a strategy, except make it the stock market and not banks. Anyone who bought bitcoin below €9K this year is laughing today.
Shelga wrote: » I bet that's the same house I was looking at, in Cabra? I think the issue there is that the EA significantly underpriced it to begin with, if you look at what similar properties have sold for there recently. Whether this was through incompetence or by design, who knows.
Smouse156 wrote: » Gotta feel for the poor fella (in number 18) that lost 260k in a year (not realised yes) or could have got the house 260k cheaper. 15/16/17/18 identical and with Glenveagh’s price drops, 15 & 17 sold for 260k less:https://propertypriceregisterireland.com/?action=search&county=6&property_type=0&date_from=2010-01-01&date_to=2020-10-21&price_from=0&price_to=0&address=Proby+place And before anyone asks, this website includes the VAT on new builds!https://glenveagh.ie/download/proby-place-brochure/?wpdmdl=449&ind=1529594520885 Anyway, with poor/slow sales can’t see anything but decent drops to come in the high end of the Dublin market. However, anything under 500k qualifying for help the Brickie should rise.
