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Davy seeks to double size of Irish property fund

Davy’s Irish Property Fund, where holdings include a controlling stake in the Nutgrove Shopping Centre in Rathfarnham in south Dublin, is understood to be seeking fresh investment as it plans to double in size over the next three years from its current value of €284 million. The fund, which Davy inherited when it took over Prescient […]

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Smyths Toys to buy Toys ‘R’ Us German and Austrian stores

Smyths Toys, the fast-growing Galway-based retail group, has agreed a deal to buy the Toys ‘R’ Us business in Germany, Austria and Switzerland. It is Smyths’ first foray into mainland Europe. The deal will see the Irish business buy 93 shops and four online stores. Investment bank Lazard was hired to find buyers for several […]

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Residential property prices rise by 13.0% in the year to February

In the year to February, residential property prices at national level increased by 13.0%. This compares with an increase of 12.0% in the year to January and an increase of 9.7% in the twelve months to February 2017. In Dublin, residential property prices increased by 12.7% in the year to February. Dublin house prices increased […]

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Hines completes €165m purchase of high-profile Dublin city centre site

International real estate investor Hines has completed the acquisition for €165m of Chatham & King, a high-profile mix of offices, shops and apartments next to the Gaiety Theatre on South King Street in Dublin city centre. In acquiring the scheme from US private equity giant Lone Star, Hines fended off three rival bids. Two of […]

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German architect outlines his vision for Dublin’s north inner city

The man given the task of regenerating a significant portion of Dublin’s north inner city is nicknamed Golden Boots but when Friedrich Ludewig arrived in Ireland this week to outline his vision, he was wearing a comparatively sober pair of grey leopard print boots instead. The boots matched his coat. The retail property developer Hammerson, which is behind the Dublin Central redevelopment covering six […]

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Charlestown shopping centre in Dublin on market for €35.5m

One of the last large scale shopping centres to be offered for sale on the instructions of Nama – Charlestown Shopping Centre at Junction 5 of the M50 in north Dublin – is expected to be of interest mainly to US private equity funds and a mixture of Irish and overseas companies planning to strengthen their position […]

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Depfa Bank and Apex Fund Services to let new Irish Life block

Irish Life has found tenants for a newly developed office block at the Irish Life Centre on Lower Abbey Street, Dublin 1. Depfa Bank, formerly based in the nearby IFSC, has completed contacts to lease 1,856 sq.m (20,000 sq.ft) on the third and fourth floors of Block 5 at a rent of €484 per sq.m (€45/sq.ft). The […]

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The Proposed Route For Dublin’s New Metrolink Has Been Unveiled

Dublin’s new €3bn Metrolink was unveiled today with plans for 15 brand new stations. The project is expected to open in 2027 and will run from Sandyford to Swords. Traveling from the city centre to the airport is expected to take 20 minutes with the system carrying 15,000 passengers per hour in each direction. Stops […]

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Ireland is fastest growing economy in EU fourth year in a row

The economy grew by 7.8% of GDP last year, according to preliminary estimates from the Central Statistics Office, making it the European Union’s fastest-growing economy for the fourth year in a row. Measured by GNP, the economy grew by 6.6% in 2017, the CSO said. The CSO said that Modified Domestic Demand – a new […]

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Construction employment sees strongest rise in 6 months – PMI

Construction firms expanded at a rapid pace in February, leading to strong job creation in the sector. The latest Ulster Bank construction PMI, a monthly report measuring sentiment and activity in the sector, posted a reading of 59.2 in February. This was down from the eight month high of 61.4 in January but still showed […]

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Retail Sales volume decreased by 0.6% in January 2018

Seasonally adjusted, the volume of retail sales decreased by 0.6% in the month of January, with an annual increase of 1.3%. If Motor Trades are excluded, there was an increase of 1.1% in the volume of retail sales in January 2018 when compared with December 2017 and there was an increase of 5.7% in the annual […]

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US equity firm to complete The Square shopping centre purchase

The US private equity giant Oaktree has made arrangements to complete the purchase of a controlling interest in The Square shopping centre in Tallaght, Co Dublin, tomorrow. The €250 million sale by Indego and Nama was one of the largest retail transactions in Ireland in 2017. The 27-year-old shopping centre – Ireland’s largest when it first opened – registered some […]

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Fitzwilliam 28 brings fresh energy to Georgian Dublin

Bannon are delighted to officially launch ‘Fitzwilliam 28’ today, a state-of-the-art office development currently under construction at the heart of Dublin’s historic Georgian core. Extending to approximately 12,500 sq.m (134,548 sq.ft) and capable of accommodating upwards of 1,200 workers, Fitzwilliam 28 is being delivered by leading contractors PJ Hegarty, along with the adjoining Fitzwilliam 27 […]

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Stationery outlet Smiggle in Grafton St move

Dublin’s Grafton Street is set for a little more variety with plans by the Australian stationary sensation Smiggle to open a new outlet on the street this summer. It will be the company’s second city-centre store – the other one is in the Ilac Centre – and the fourth in Dublin. Smiggle sells brightly coloured “fashion” stationery that has […]

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Irish consumer sentiment hits seventeen year high

The January reading for Irish consumer sentiment was the strongest reading since February 2001. We think three factors explain this exceptional result. First of all the Irish economy is still set on a strong trajectory and, thus far, has weathered Brexit and other global concerns better than had been feared. This has made consumers more confident about the general […]