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Dublin: 8°C Thursday 21 October 2021

First look at Dublin's Dame St makeover: 5 things to know in property this week

Plus a Galway battle over ‘wayward golf balls’.

WHETHER YOU HAVE a firm footing on the property ladder or are just starting the hunt for your first place, it’s always useful to keep abreast of the happenings in the world of real estate.

There’s been plenty of change afoot this week, from a brand new shopping and office hub on Dublin’s Dame St to residents in Galway battling a five-star hotel.

Here’s your five-point property news round-up…

1. Here’s what Dublin’s new Central Plaza could look like

Hines and Peterson Source: Hines & Peterson

Dublin’s Dame St could soon be home to a ‘mixed-use’ hub including shops, restaurants, cafés, offices and more, if planning application for the new Central Plaza is approved.

The building formerly occupied by the Central Bank was acquired by Hines and Peterson earlier this year, following the bank’s relocation to North Wall Quay. Central Plaza has the potential to accommodate 1,000 office workers and create more than 300 jobs upon completion.

2. Ireland’s post-crash ‘lost decade’ is over

File Photo Construction activity is continuing to increase according to the latest Ulster Bank Index. Source: RollingNews.ie

The ‘lost decade’ following Ireland’s property crash is officially over, and the country has returned to its previous 2007 peak, according to Goodbody stockbroker.

The company’s quarterly Economy Health Check predicted a drop in unemployment to just 5% by the end of 2018. However the report also indicates that more capital spending is needed on housing and infrastructure.

3. Glenlo Abbey Hotel’s ‘wayward balls’ cause trouble

3533743 Source: YouTube

Yes, you read that one right. A couple frustrated with ‘wayward golf balls’ hitting their home has objected to plans for a makeover at Galway’s five-star Glenlo Abbey Hotel.

Locals Jim and Maureen Hughes are fighting the hotel’s plans to build an extension to its golf clubhouse, saying that golf balls landing on their adjacent property have caused ‘a significant problem of safety and physical damage.’

4. Architects are fighting to save a Baggot St building

3538124 Source: Google Maps

A group of Irish architects are battling to protect the former Bord Fáilte HQ on Baggot St from demolition, on the grounds it is a key piece of ‘architectural heritage.’

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In June 2017, Irish Life Assurance was granted permission by Dublin City Council to demolish the existing five-storey office and construct a new six-storey block in its place, but an 80-strong group is lobbying for the decision to be overturned.

5. Housing shortage a dealbreaker for foreign tech workers

shutterstock_572749180 Source: Shutterstock/REDPIXEL.PL

More and more foreign workers are turning down the chance to relocate to Ireland for high-paid tech jobs, mainly due to the country’s highly publicised housing shortage.

That’s according to digital and tech recruitment firm Prosperity, who said the rejection rate for job offers in Ireland had doubled since last year – up from an average of 15% to nearly 30%.

And finally, this week’s property buzzword…

We’re simplifying the murky world of real estate jargon, one buzzword explainer at a time. This week it’s BER, or Building Energy Rating, a grading system used as an energy efficiency indicator for Irish properties. Grades range from A1 (tip top) to G (bad news).

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