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Closing time for Starbucks in Cork city: 5 things to know in property this week

And is Dublin’s house price growth finally slowing down again?

EACH WEEK, WE put together a five-minute roundup of the week’s biggest property stories. Why? The sector moves fast, so this is your chance to keep up.

From coffee giant closures and facility expansions to Dublin house prices slowing down, here’s what’s been happening and how it could affect your house hunting journey.

1. It’s closing time for Starbucks on Cork’s Patrick St

3864569 Source: Shutterstock

A Starbucks in Cork city centre has shut down following a planning feud between its owners and the local council.

The Patrick Street store opened three years ago, without proper planning permission, which led to its owners being warned to shut the café a number of times.

2. Limerick film studios to become largest in Ireland

2 troy Source: Troy Studios

Troy Studios has lodged plans to develop a fourth sound stage, which would make the Limerick production facility the largest film and television studio in Ireland. 

To date, the firm behind the production facility has spent €6.5 million to create the 32,000 sq m hub. The Limerick studio is a sister operation of Wicklow-based Ardmore Studios.

3. New million-euro facility for Aer Lingus near airport

aer lingus Source: Sasko Lazarov/RollingNews.ie

Aer Lingus is spending millions of euro on a new facility near Dublin Airport that will train cabin crew.

Chief executive Stephen Kavanagh confirmed that the IAG-owned carrier is disposing of its existing flight simulator as part of an investment in a 4,500 sq m training facility.

4. Dublin’s annual house price growth slows

file-photo-the-central-bank-has-warned-that-the-economy-could-overheat-if-the-current-rate-of-growth-continues-in-its-latest-quarterly-bulletin-the-regulator-said-growth-will-remain-strong-into-2019-4-390x285 Source: Rollingnews.ie

A new study has found that the Central Bank’s mortgage lending restrictions are putting a stop to house price inflation in Dublin and beyond.

The report from the Real Estate Alliance (REA) found that the price of a three-bed semi in Dublin has increased by just 2.7% in the last year. For average prices across a range of house types, readers can check out the most recent Daft House Price Report.

5. Over 100 new social houses planned for north Cork

A €30 million housing development in Blackpool was given the green light by Cork City Council this week according to the Evening Echo. Proposals for 112 homes on Thomas Davis Street are now set to move ahead following their approval. 

Councillors also approved a planning notice to convert two derelict sites on Shandon Street and John Philpott Curran Street into nine social houses.

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