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property news
Fancy owning The Gibson or The Square Tallaght? 5 things to know in property this week
Plus Lidl’s legal challenges for its Castleknock outlet.
WITH EVER-CHANGING LEGISLATION, new developments and a seemingly endless rental shortage, the world of property can be difficult to navigate.
Each week we round up the most important property happenings that you may have missed, providing you with bites of significant developments in real estate from the last few days.
So, what’s been going on this week?
1. The Gibson Hotel could be yours for €90m
The famous Gibson Hotel in Dublin’s docklands has been put up for sale with a guide price of more than €87 million. The building is being marketed by property group Savills on the instructions of joint receivers Paul McCann and Stephen Tennant of Grant Thornton.
Named after the famous Gibson guitar brand, the 4* hotel comprises 252 bedrooms, including 20 suites. It has a restaurant, two bars, spa facilities and a gym.
2. UCD SU calls for immediate action against rental crisis
Earlier this week, we went live on Facebook with UCD’s Student Union President Katie Ascough and our own reporter Cormac Fitzgerald, talking about the shortage of rental options for students, the high costs – and the scams.
During the interview, Ascough detailed how students are struggling more than ever to find suitable accommodation for the academic year ahead and what should be done. Interesting viewing if someone in your family is hunting for a rental right now.
3. Homelessness charity call for ‘empty homes tax’
This week, the Peter McVerry Trust published its pre-Budget submission, outlining 12 measures it feels will bring “meaningful and effective solutions to the current homelessness and housing crisis.”
Among the suggestions was an empty homes tax, which the trust said would “bring much-needed houses back into use”. The charity also called for the restoration of social welfare payment rates for people under the age of 26.
4. Lidl’s plans for Castleknock development halted
A High Court challenge has been brought against An Bord Pleanála for its decision to grant supermarket giant Lidl permission to build a €15 million commercial development in Castleknock, Dublin.
The proposed development will include a supermarket, shop units, a café, a medical centre, and apartments in three separate blocks.
5. Tallaght’s Square shopping centre is on sale for over €200m
The Square shopping centre in Tallaght has been formally placed on the market with a controlling interest in the development going for €233 million. Earlier this year Nama appointed agents Cushman & Wakefield and JLL to oversee the sale of the 27-year-old shopping centre.
Today the agents confirmed that the centre, which is one of the last, large-scale standalone properties on Nama’s books, is on the market. The Square, which had 22 million visitors through its doors last year, features more than 160 retail units.
And finally, this week’s property buzzword…
We’re breaking down the mystifying world of property phrases, one buzzword at time. This week, it’s stamp duty, a tax levied by the government on the purchase of a property. If you’re budgeting or saving for your first home, it’s definitely one you’ll happen upon soon enough…
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