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SCSI calls for extension of Home Renovation Scheme to Commercial

The Society of Chartered Surveyors of Ireland (SCSI) has called for an extension of Home Renovation Scheme (HRI) to Commercial Properties following a survey which was carried out.

The survey also shows a 5th of commercial property owners applied for a rent reduction in the last year, of those that applied 42% achieved a reduction of up to 10%.

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KPMG prepares fresh sales process for IBRC’s unsold projects

KPMG has repackaged all €2.4bn unsold IBRC non-performing loans (NPL) in three separate portfolios, dubbed projects Amber, Quartz and Pearl, in a set of fresh blind auction processes which are targeted for staggered closures before the year end.

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REIT acquires €130m credit facility with Barclays

Property investment company Irish Residential Properties REIT plc (Ires Reit) has entered into a two year € 130 million credit facility arranged by Barclays Ireland, secured against the company’s assets, which will allow the company to grow and achieve its investment goals.

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Irish Exports: Recovery in 2014 taking hold

Trade data for the first five months of 2014 show that exports volumes grew by 4.3% on the same period in 2013. Indicators suggest that the Irish manufacturing sector has benefited from stronger external demand, particularly from the UK.

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Barclays Bank wins loan financing mandate for Oaktree Capital

Barclays Bank has won the £335m whole loan financing mandate for Oaktree Capital Management and Patrizia Immobilien’s joint acquisition of the three-strong MEPC UK business parks portfolio.

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Line-up of tenants battle over Grafton Street

Only four months after opening the Cos fashion store on Dublin’s Wicklow Street, the giant H&M fashion group has emerged as the favourite to put another of its luxury brands, & Other Stories, into the former A|wear shop on Grafton Street. The letting is likely to be confirmed later this month.

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RBS shortlists for Project Achill Final Round

Royal Bank of Scotland has selected a shortlist of three private equity funds and one investment bank – Lone Star, Cerberus Capital Management, Oaktree Capital Management and Deutsche Bank – to progress to the second and final round for the nominally-valued €1.2bn Project Achill portfolio, following first round bids which were submitted on 1 August. The four finalists are understood to have bid for the majority of Project Achill, which comprised 31 separate borrower connections over six subpools originally extended to Ulster Bank, an RBS subsidiary.

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New partnership in Northside Shopping Centre

Patron Capital Partners has formed a new retail and residential partnership with Brian O’Callaghan, the son of well-known Cork developer Owen O’Callaghan. Patron has already begun working on its first joint project with Mr O’Callaghan to operate and expand the Northside Shopping Centre on the northern fringe of the M50 in Coolock, Co Dublin.

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Eircom plans transfer to Jersey

Eircom has announced plans to transfer the assets and liabilities of its main operating company to a new entity incorporated in Jersey. Last April, Eircom announced it was undertaking a formal review, advised by Goldman Sachs, Rothschild and Morgan Stanley, of its future “strategic options”, including a possible flotation that could value it at between €2.5 – €3 billion.

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Microsoft to build Mega HQ in Leopardstown subject to levy

Us computer giant Microsoft has been granted permission to build new headquarters in Leopardstown in Dublin to accommodate up to 2,000 staff, subject to €8m council levy.