TWM Real Estate Podcast (Episode 11)

A podcast which looks at the influences and influencers of real estate

In Episode 11 Seán O’Neill catches up with a podcast regular, Independent Economist Stephen Walsh and  with Director of our Internal Investment Team, Robbie Coakley to review Q1 2024 Economic and Property Market activity. We discuss whether the optimism experienced at the start of the year has been maintained and if the outlook for interest rate cuts is still positive.  We chat about the changes in the real estate market and how it is now very location, sector and building specific.

Thank you for listening and we hope you find these Podcasts of interest.

Please click HERE to listen to this episode of the TWM Real Estate Podcast

TWM Real Estate Podcast (Episode 10)

A podcast which looks at the influences and influencers of real estate

In Episode 10 Seán O’Neill chats with Paul Candon, CEO of United Hardware. Paul provides background on the United Hardware business and its members who comprise both traditional DIY outlets and Builders Merchants. He provides insights into the hardware and DIY markets and the general construction sector including surviving covid, the impact of inflation, supply chain issues and the demand for sustainable products.

Thank you for listening and we hope you find these Podcasts of interest.

Please click HERE to listen to this episode of the TWM Real Estate Podcast

Sarah Winters to lead internal investment team at TWM

THE IRISH TIMES, MARCH 06 2024

Robbie Coakley, formerly of Kroll and BNP Paribas Real Estate, to join newly established division
Sarah Winters and Robbie Coakley of TWM’s newly established internal investments team.
Ronald Quinlan

Having worked with TWM for nine years, Sarah Winters is to head a new internal investment team at the company focusing on existing client relationships and their property portfolios.

Ms Winters, a director at TWM, has almost 20 years’ experience in the property industry, and has worked across both the commercial agency and lease-advisory sectors. That experience will be channelled now to develop tailored strategies to enhance and maximise value for clients in line with their exit strategies and hold periods.

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Galway city investment offers buyer 7.91% yield at €21.5m guide

THE IRISH TIMES, FEBRUARY 28 2024

Citypoint scheme overlooking Eyre Square has strong tenant line-up, led by US discount retailer TX Maxx
The Citypoint scheme overlooks Eyre Square in Galway city centre
Ronald Quinlan

An attractive net initial yield of 7.91 per cent underpinned by a strong tenant line-up led by the highly successful US discount fashion retailer TK Maxx is expected to drive the sale of Citypoint, a mixed-use scheme overlooking Eyre Square in Galway city centre. The property was originally developed in 2007 and extends to 7,432sq m (80,000sq) ft across six floors over a three-level basement car park. It is being offered to the market by joint agents TWM and Savills at a guide price of €21.5 million.

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TWM Real Estate Podcast (Episode 9)

A podcast which looks at the influences and influencers of real estate

We are delighted to present Episode 9 of the TWM Real Estate Podcast. In our first Episode of 2024, having taken the temperature of the real estate market during January, I chat through the outlook for this year with Independent Economist Stephen Walsh and Fellow Director of TWM, Patricia Ward.

Thank you for listening and we hope you find these Podcasts of interest.

Plenty more to come in 2024!

Please click HERE to listen to this episode of the TWM Real Estate Podcast

Summary of Investment Market Q4 2023

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TWM Real Estate Podcast (Episode 8)

A podcast which looks at the influences and influencers of real estate

Given the time of year this episode has a somewhat religious flavour. Sean O Neill is joined by Co Owner of TWM, Michele Jackson and their guest John Weir, Head of Real Estate, with Church Commissioners for England. They chat about the interesting and diverse portfolio held by the Church Commissioners, with some assets owned for centuries. In addition to commercial property, topics covered include Christmas trees, farmland and sustainability and how such a long established institution deals with current and future real estate trends.

Thank you for listening during 2023. Best wishes for a happy and peaceful Christmas and a successful 2024 from all at TWM

Please click HERE to listen to this episode of the TWM Real Estate Podcast

2024 promises mixed fortunes for property owners and opportunities for investors

THE IRISH TIMES, DECEMBER 6 2023

Interest rates unlikely to be reduced in the short term, which will leave asset values under pressure
Sean O’Neill
French investor Iroko Zen deepened its involvement in the Irish market in 2023 with the addition of several assets to its portfolio. In May, it paid €4,970,840 for Westland House (Block A) at Westland Park in Dublin 12

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Current choppy market offers growth options for 2024

BUSINESS POST – PROPERTY YEAR IN REVIEW, DEC 2023

With the current uncertainty, there is a sense that interest rate stability and growth in the US is needed to give investors confidence
Michele Jackson
Eglinton Place in Donnybrook, Dublin 4, which was bought by M&G for €99 million in one of the most notable deals of the year

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TWM Real Estate Podcast (Episode 7)

A podcast which looks at the influences and influencers of real estate

In Episode 7 Seán O’Neill chats with Arlene Maguire, Head of Property Acquisition and Asset Management with Tesco. Arlene gives us some background on the Tesco Ireland business now, what’s happening in terms of their current strategy and why is Tesco expanding in Ireland. She also explains what types of stores are they looking to open and how do they go about selecting a site. We find out how do Tesco balance being both an owner and tenant and what are their current challenges in the property market. Finally we speak about sustainability and the measures Tesco are taking in this regard.

Please click HERE to listen to this episode of the TWM Real Estate Podcast

TWM Real Estate Podcast -EXPO REAL Special (Episode 6)

A podcast which looks at the influences and influencers of real estate

Episode 6 of the TWM Real Estate Podcast features Seán O’Neill & Stephen Aherne with international investors at EXPO REAL in Munich, which took place October 4-6, 2023.

George Fraser Harding (Head of European Funds at Aviva Investors), Oliver Gaschler (Director of Investments at AM Alpha) and Axel Wünnenberg (Managing Director of Quodoro) give their thoughts on the European Real Estate market and whether or not  Ireland is still on their radar!

Please click HERE to listen to this special episode of the TWM Real Estate Podcast

Summary of Investment Market Q3 2023

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TWM Real Estate Podcast (Episode 5)

A podcast which looks at the influences and influencers of real estate

Please click HERE to listen to the fifth episode of the TWM Real Estate Podcast featuring:

Seán O’Neill, Director, Co-Owner of TWM

Michael Costello, Partner at BDO, Dublin

Having just completed 3 terms as Managing Partner, Michael talks about the challenges of Brexit, Covid, the move to new offices, the inflation/ interest rate crisis as well as his new role in charge of Sustainability.

Futureproofing Value

Sustainability considerations are increasingly important in Valuations.

Please click HERE to read Ken Noble’s article in the SCSI Surveyor’s Journal – August 2023

Ken Noble, Director TWM

TWM Real Estate Podcast (Episode 4)

A podcast which looks at the influences and influencers of real estate

Please click HERE to listen to the fourth episode of the TWM Real Estate Podcast featuring:

Seán O’Neill, Director, Co-Owner of TWM

Stephen Walsh, Independent Economist & Consultant

Russell Cleere, Senior Investment Analyst & Associate Director, TWM

Summary of Investment Market Q2 2023

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TWM Real Estate Podcast (Episode 3)

A podcast which looks at the influences and influencers of real estate

Please click HERE to listen to the third episode of the TWM Real Estate Podcast featuring:

Seán O’Neill, Director, Co-Owner of TWM

John Hannigan, CEO, Circle Voluntary Housing Association – speaking about the Social Housing sector, its role in the provision of housing, how the sector works, how they deal with developers and the State, the blockages and challenges in the market at present and the future for the sector.

Extracting value from a tough market: How TWM is navigating the commercial property turmoil

Tom Lyons, Chief Executive, The Currency

TWM founders Seán O’Neill and Michele Jackson. Photo: Bryan Meade
New working and shopping patterns plus higher interest rates have altered the commercial property equation, but agents TWM say there are plenty of cash investors. Founders Seán O’Neill and Michele Jackson explain uncertainty gives their firm an edge.

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TWM Real Estate Podcast (Episode 2)

A podcast which looks at the influences and influencers of real estate

Please click HERE to listen to the second episode of the TWM Real Estate Podcast featuring:

Seán O’Neill, Director, Co-Owner of TWM

Anne Marie Shalloe, Group Commercial Asset Manager, An Post –  speaking about all things An Post including their transformation as a business, sustainability and their property strategy, the imminent HQ office relocation, the proposed Logistics hub and future real estate sustainability trends.

French investor pays €4.971m for Dublin 12 office block

Westland House at Westland Park is fully refurbished and occupied on new long-term lease by Virtual Access (Ireland) Ltd
Ronald Quinlan
Westland House (Block A), Westland Park, Dublin 12 been fully refurbished and has a B2 energy rating

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TWM Economic and Commercial Property Highlights Q1 2023

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Summary of Investment Market Q1 2023

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Limerick city shopping centre with development potential guiding at €15m

Arthur’s Quay Shopping Centre in Limerick city
Landmark scheme developed by Michael Tiernan and the late Owen O’Callaghan producing €1.45m in annual rental income
Ronald Quinlan

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TWM Real Estate Podcast (Episode 1)

A podcast which looks at the influences and influencers of real estate

Please click HERE to listen to the first episode of the TWM Real Estate Podcast featuring:

Seán O’Neill, Director, Co-Owner of TWM

Stephen Walsh, Independent Economist & Consultant

Russell Cleere, Senior Investment Analyst & Associate Director, TWM

Refurbish and retrofit to trump demolish and replace in 2023 – The Business Post

Certain investors are sitting back with an expectation of better value for buyers in the future, but the ESG credentials of any property are key in the Irish investment market
Michele Jackson

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Urban Green Private completes €23m purchase of Cork shopping centre – The Irish Times

Douglas Village Shopping Centre is generating a total of €2,407,282 in rental income per annum
Ronald Quinlan

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HSE signs for additional office space at Swords Business Campus – The Irish Times

Executive now occupies 37,600 sq ft across two units at north Dublin scheme
Ronald Quinlan

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Summary of Investment Market Q4 2022

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Ireland is well-positioned to continue to attract international capital and new entrants – The Irish Times

With current 10-year government bond yields at 2.35 per cent, property still offers a risk premium, particularly for investments with rental growth potential
Michele Jackson

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A resilient year for property investment despite headwinds – The Business Post

Flutter’s HQ building at Belfield Office Park in Clonskeagh reached €97.5 million
With Ireland possibly the only country in Europe to avoid going into recession, there remains a good level of demand in the Irish property investment market from a variety of investor types and nationalities
Sean O’Neill

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Strong interest expected in €20m Churchtown apartments – The Business Post

Rare opportunity to acquire a fully let residential investment in a prime suburban location, says agent TWM
Tina-Marie O’Neill
Hazelbrook in Churchtown in Dublin 14 is a prime suburban residential investment opportunity guiding €20 million. Picture: Peter Moloney

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Q3 2022 Irish Commercial Real Estate Investment Market Review by Russell Cleere

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Tesco to sell Oranmore supermarket with €2.2m price tag – The Independent

The Competition and Consumer Protection Commission made it a condition that Tesco should sell the Joyce store in Oranmore, Co Galway
The Competition and Consumer Protection Commission made it a condition that Tesco should sell the Joyce store in Oranmore, Co Galway
Donal Buckley

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Improving properties’ green credentials is in the interests of both landlord and tenant – The Irish Times

As green ESG targets become more widespread, the need for sustainable performance has begun to trickle down from class-A new-builds to older office

Axa Investment Managers Alts and local partner BCP Capital are currently engaging in a €50 million revamp of La Touche House at the IFSC in Dublin. This is a digital impression of how it will look.
Ken Noble

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Entire business campus at Swords on market for €50m – The Business Post

The 19-acre site, which could also be used for residential subject to planning permission, is near a planned Metro station, has upgraded its green credentials and is intensively landscaped for biodiversity.

Swords Business Campus in Fingal in north Dublin is on sale for €50 million. The ten-acre site has potential for residential development
Tina-Marie O’Neill

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Swords Business Campus hits the market at €50m – The Irish Times

Established office and healthcare scheme on 19-acre site near Dublin Airport has potential for addition of hundreds of apartments

Swords Business Campus extends across an area of 19 acres, and sits 1km from the M1 motorway and is five minutes’ drive from Dublin Airport
Ronald Quinlan

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Getting the best results when negotiating a new lease – The Business Post, Aug 26 2022

Successful lease negotiations require a balance of knowledge and understanding
Sarah Winters

All lease events, regardless of whether they are expiries, breaks or rent reviews, present opportunities for both sides to avail of lease arrangements more suited to their needs. Picture: Getty

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Refurbished offices in west Dublin for sale or rent – The Independent, June 10 2022

Block A Westland Business Park in Dublin 12 is guiding at €5,000,000
Three-storey detached building stands on a 0.4-acre site with about 75 surface car spaces
Block A Westland Business Park in Dublin 12 is guiding at €5,000,000
Donal Buckley

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An Post seeks developer to deliver 500,000sq ft logistics unit – The Irish Times, May 18 2022

 
Postal service future-proofing as letters and shops give way to email and online retail
Ronald Quinlan

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Fully-let retail investment in Longford can deliver 8.45pc annual yield – The Independent, May 12 2022

N4 Axis Centre - Longford
The property comprises eight units in three blocks at the N4 Axis Centre in Longford
Donal Buckley

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Fundamentals for commercial property market remain positive – The Irish Times, December 06 2021

Inflow of investors expected to continue as inflation rears its head
Seán O’Neill

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Owners of popular Galway city nightclubs Electric Garden and Halo consider sale- The Irish Times, December 01 2021

Venues formerly known as Central Park carry value of €3.5m – €5m

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TWM Research – Focus on Healthcare

The property market continues to evolve with different sectors coming more into focus as occupier and consumer patterns change.  The current hot sectors of Logistics and Residential are well known at this stage however Covid -19 put a focus on other “essential” real estate. We previously (Pre Pandemic!!) produced a research note on Grocery Retail and Retail Warehousing. We now turn our attention to Healthcare.

Our colleague, Eithne O’Neill has many years’ experience in valuing and appraising Healthcare backed Real Estate. She has produced our latest Research Note focusing on this subject which is a new investment sector on the radar of many domestic and overseas investors.

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Price cut on Townsend Street mixed-use investment- The Irish Times, October 20 2021

‘SOBO’ redevelopment or investment opportunity in Dublin city now asking €2.75m

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Summary of Investment Market Q3 2021

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Almost €1.5bn invested in commercial real estate in Q2 – The Business Post,July 11 2021

Figure brings six-month total for year so far to €2.7bn, a 59 per cent rise on same period in 2020

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Summary of Investment Market Q2 2021

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Aldi Sandyford store at €10.75m promises ‘pandemic-proof’ 5.1% return – The Irish Times, May 19 2021

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€4.5m west Dublin office investment offers 7pc yield – The Independent, May 13, 2021

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Seven acres of development land in Longford Town guiding €1.5m – The Business Post, May 02, 2021

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TWM strengthens professional services team – The Irish Times, April 28, 2021

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TWM Economic & Commercial Property Highlights 2021

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Summary of Investment Market Q1 2021

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Ken Noble to lead professional services team at TWM – The Irish Times March 17, 2021

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Co Galway car park for sale at less than 10pc of development cost – The Independent Feb 04, 2021

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Roscrea and Shannon retail investments sold for €7.8m and €6m – The Irish Times Feb 03, 2021

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Summary of Investment Market 2020

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Prime mixed-use property in College Green guiding €5.2m – Business Post, Jan 17, 2021

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College Green building with development potential seeks €5.2m – The Irish Times, Dec 02, 2020

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Galway’s industrial investment market sees strong demand – Business Post, Nov 08, 2020

The city has an enviable reputation as a hub for medical manufacturing and engineering, but more opportunities need to be created for the industrial rental investment sector to expand

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Fully-let industrial unit in Galway city for €3.75m – Business Post, Nov 01, 2020

The manufacturing property extends to over 19,000 square feet and has a secure ten-year lease term

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Galway industrial investment offers prospect of 7.25pc yield – The Independent, Oct 22, 2020

Unit 19 Mervue Business and Technology Park, Galway

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Budget 2021 – A Property Market Review

The budget, whilst significant in terms of the economic supports and demand boost provided, contained little change for the commercial property sector. Given the surprises of recent budgets this can be seen as a positive.

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Commercial real estate security and yield remain attractive in face of Covid-19 – The Irish Times, October 7 2020

Irish market could still see turnover of up to €3bn in 2020 despite pandemic and Brexit

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Offers of over €80m sought for Royal Hibernian Way – Business Post, September 6 2020

The famous retail thoroughfare on Dawson Street in Dublin 2 is one of the most sought-after locations in the capital

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Prime city centre investment with added value prospect – The Independent, September 3 2020

Way to go: The mixed use property on Dawson Street offers plenty of scope for developers and investors

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Aviva tests strength of market with €80m sale of Royal Hibernian Way, The Irish Times, September 2 2020

Dawson Street scheme’s tenant mix includes Davy stockbrokers and Marco Pierre White’s

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Covid-19 Property Impact TWM Tracker

Times are certainly changing and economic statistics are changing on a week to week basis. At TWM we have tried to collate some of the impact of Covid-19 and the resultant Government policies and how these may impact on economic activity and the property market.

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IFSC office suite available at competitive rent of €45 per sq ft, July 17 2020

Unit at Custom House Plaza 2 is well-located next to Dublin’s Connolly Station

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OPW secures new offices at Balbriggan Business Campus, June 14 2020

State to pay €18.50 per sq ft for 24,300sq ft at Brenta Group’s Paramount Place scheme

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Picking up from the pandemic – Business Post, June 14 2020

TWM has managed to get a number of property deals over the line in spite of the lockdown

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Optimism on property market encourages projects to restart – Independent, June 11 2020

Optimism about prospects for Galway’s property market is reflected in the restart of building work on two of the city’s major new mixed-use developments, Gerry Barrett’s Bonham Quay and JJ Rhatigan’s Crown Square.

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Essential Real Estate

Seeing all the queues at Supermarkets and DIY outlets reminded us of the Research note we published in October 2018 in which TWM highlighted the advantages and defensive qualities of these two sub sectors of the retail market.

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Hi-spec south Dublin industrial facility seeks €2.5m – Irish Times, May 13 2020

Stillorgan Industrial Estate unit equipped for pharma R&D and medical manufacturing

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Henley Bartra flips Phoenix House for 16m – Irish Times, April 22 2020

Joint venture involving developer Richard Barrett paid €8.5m for Dublin 8 office in 2018

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Flexibility should be built into lease arrangements, Business Post, April 05 2020

Good communication between landlord and tenant can go a long way to helping come to an agreement during these difficult times

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Coronavirus: Landlord and tenant advice, The Irish Times, March 26 2020

Financial stress of Covid-19 can be lessened through fairness and transparency

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Landlords and tenants must work together in the face of coronavirus, The Irish Times, March 25 2020

Unprecedented threat to investments and businesses

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Sandyford multi-let office blocks guiding at €15m – Business Post, March 01 2020

The prime-location lots are held on long leasehold interests from the local council

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Landmark retail scheme on Dublin’s Navan Road guiding €7.1m – The Irish Times, February 26 2020

Maple Centre generates €550,023 annually from tenant mix which includes McDonald’s

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Fully-let south Dublin office investment seeking €15.1m – The Irish Times, February 26 2020

Units at Sandyford Business Centre for sale in individual lots at €8.6m and €6.5m

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Tesco store in Roscrea at €8.8m offers yield of 9.82% – The Irish Times, February 05, 2020

Property comes to the market following sale of Gorey Tesco to French investment giant
By Ronald Quinlan

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Retail showing signs of increasing investor sentiment -The Irish Times, December 04 2019

Opportunities exist where capital, rental values and expectations have been rebased

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Investors get chance to be at the races with Ballybrit unit sale – The Business Post, October 13, 2019

A highly reversionary office investment opportunity located within Ballybrit Business Park, a well-established commercial park on the outskirts of Galway city, has come to market with agent TWM. The investment comprises two office buildings, extending to some 1,847 square metres gross internal area in total on a 0.8-acre site.

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Two Galway office buildings on sale for less than €1.5m – The Irish Independent October 10, 2019

TWO office buildings on an 0.8-acre site at Ballybrit Business Park on the outskirts of Galway city have come to the market with a guide price of more than €1.475m.

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French investment giant pays €21m for Tesco store in Gorey – The Irish Times October 09, 2019

Latest deal brings value of Corum’s portfolio in Ireland and Northern Ireland to €146m.

French asset management company, Corum, has increased its overall investment in Ireland and Northern Ireland to over €146 million with the acquisition of the Tesco supermarket in Gorey, Co Wexford, for about €21 million.

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Henley Bartra looks to flip Phoenix House for €16m – The Irish Times October 09, 2019

Joint venture involving developer Richard Barrett paid €8.5m for office block in 2018

Henley Bartra looks to be in line for a significant return on its investment in Phoenix House in Dublin 8.

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Elmpark Green office block in Dublin 4 seeks €50m – The Irish Times October 02, 2019

Allianz House fully-let on 31-year lease and is delivering €2.9m in annual rental income.

A wide range of Irish and international investors are expected to express an interest in the sale of the Irish headquarters of Allianz at Elmpark Green in Dublin 4.

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€1.5m for residential development site in Ireland’s coolest neighbourhood – The Irish Times, September 25, 2019

79-83 Prussia Street offers scope for 17 units at the heart of Dublin’s Stoneybatter.

Investors and developers looking to take advantage of Stoneybatter’s newly-minted status as “Ireland’s coolest neighbourhood” may be interested in an opportunity which has been brought to the market on Prussia Street at a guide price of €1.5 million.

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TWM Economic & Commercial Property Highlights – June 2019

Please click HERE to view our latest highlights update

Intel in mind as Celbridge’s Primrose Forge comes to market for €2.85m – Independent, 2 May 2019

A mixed investment property known as Primrose Forge in the commuter town of Celbridge, Co Kildare, has been brought to the market with a €2.85m+ price tag.

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Galway is booming as multiple new commercial developments on way – The Business Post, 17 March 2019

Private developers are returning to the property market in Galway, but state agencies have also recognised that they need to generate supply in order to build commercial facilities and attract international employers beyond Dublin.

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Private rental sector demand set to grow – Sunday Business Post, 10 February 2019

Dublin is among the most attractive locations in the world for investing in multi-family market as the recovery continues and new regulations favour institutional landlords

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Overseas investor snaps up €18m apartment portfolio – Independent, 1 February 2019

The growth of Ireland’s Private Rented Sector (PRS) shows no sign of slowing down following the sale of a portfolio of 54 apartments in South Dublin for around €18.25m. 

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TWM Economic & Commercial Property Highlights – January 2019

Please click HERE

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Real estate remains best medium-term investment despite some concerns – Sunday Business Post, 9 December 2018

Sustained demand driving up values – but innovative solutions are needed to fix supply shortages

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Developer Barrett rides to the rescue for Galway’s squeezed office and retail market – Sunday Business Post, 25 November 2018

The two big projects are part of a response to heightened interest in the city

Developers have begun to respond to demand for commercial property in Galway, and Gerry Barrett is leading the charge with two major city centre projects. Similarly, investors are also demonstrating increased interest in the City of the Tribes as reflected in recent deals.

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€1.25m Galway retail investment offers 11% yield – Irish Independent, Thursday 22 November 2018

Photo: Declan Monaghan

Sarah Winters of agent TWM is guiding a price in excess of €1.25m for the anchor supermarket unit at Tuam Shopping Centre in Co Galway.

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High yielding investment in Tuam – Galway Advertiser, 8 Nov 2018

Photo: Declan Monaghan

TWM brings the anchor supermarket unit in Tuam Shopping Centre to the market.

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TWM Research Note – November 2018

Please click HERE to view our new Research Note