North Docklands - On the Rise !


#59

Here’s how your socially liberal, uber-cool, uber-tolerant, tech companies operate: cleanse the slums.
given the origin of the companies, its all in-line with the background ideology

from Sept 2016:
theguardian.com/technology/ … properties


#60

Actually it’s the landlords doing that. It’s simple supply and demand.


#61

I did not know that.

With google as my guide, all I could find that St Andrew’s in Booterstown offers it. But it’s still a regular Irish secondary school where most kids do the Leaving Cert, etc.

I had seen the issue come up in the context of attracting financial firms post-Brexit: irishtimes.com/business/financial-services/dublin-to-get-international-school-to-attract-bankers-from-uk-1.2833223


#62

Extract from recent article in Irish Independent

Facebook is closing in on a new, additional Dublin building with up to 1,000 new staff.
What’s the biggest reaction? Is it ‘oh great’? Or ‘wow’? Or even ‘how can we capitalise on this’?

No. It’s ‘now hold on there, where will people live?’
This is as understandable as it is depressing. In a week when official figures showed the lowest unemployment rate Ireland has had in nearly a decade, we’re heading full tilt into another infrastructural crisis.

There aren’t enough houses, transport is creaking and we have no real resolve to fundamentally restructure either problem.
We just can’t be bothered.

Take accommodation. We don’t have nearly enough housing or office space in Dublin. And we won’t allow big high-rise developments around the city.
As a result, rents are soaring to unheard-of levels. Forget about renting a modern two-bedroom apartment anywhere in the city for under €15,000 a year.

And, with Google and Facebook adding jobs, get ready for new price hikes in swathes of adjacent north city neighbourhoods, especially Fairview, Marino and East Wall.
Of course, that’s before any potential Brexit jobs-relocation dividend from London.


#63

The changing face of Dublin’s docklands is changing yet again following the recent submission by Johnny Ronan’s Ronan Group Real Estate (RGRE) of a planning application for its proposed Spencer Place scheme at Spencer Dock.
RGRE is seeking permission for the development of 66,599 sq m (717,000 sq ft) of space, which upon completion will include a 212-bed hotel, restaurant and retail units and 46,184 sq m (500,000sq ft) of LEED platinum-rated office accommodation.
The new application represents a significant revision of the planning permission which had been obtained by the site’s receivers prior to Ronan’s acquisition of it last year for a reported €43m. The existing permission allows for 31,580 sq m (340,000 sq ft) of offices and a 169-room hotel.

Commenting on RGRE’s new planning application for the scheme, the company’s development director, Shane Whelan, said: "It marks the culmination of months of positive engagement with Dublin City Council. The design has incorporated the best architectural elements from around Europe and will deliver a 211-bed hotel to compliment the 500,000 sq ft of best-in-class office accommodation.
“Spencer Place will see the completion of the original Spencer Dock masterplan which successfully delivered 2,000,000 sq ft, including the National Convention Centre Dublin, PwC, Credit Suisse buildings and 620 state-of-the-art apartment units.”

Whelan said each of the proposed buildings at the Spencer Place development will have an “individual identity and be constructed to a high-quality of architectural detailing and finish”.
Spencer Place will achieve an LEED platinum rating and will include a seven-storey glazed atrium wider than Grafton Street, three storeys of internal landscaped garden and breakout areas, 1,000 bike spaces, a 10,000 sq ft gym, two hotels and best-in-class retail space, bars and restaurants.

The scheme, which accounts for just over half of Ronan’s six-acre Spencer Dock site, is well-located with immediate access to two Luas Stations, Dublin Bikes and the Spencer Dock surface rail station. The development will also be within easy reach of Dublin’s proposed ‘Grand Central’ station once the planned Dart underground is delivered with capacity for over 30 million passengers per year.
Spencer Place will also be accessible on foot from the south side of the River Liffey following the completion in two years’ time of a new pedestrian bridge linking Spencer Dock with Grand Canal Dock.
Sunday Independent


#64

No its not, DCC have blocked this as its too tall and would upset the Georgian fetishists, despite being across from Liberty hall and within spitting distance of the shittycon docks.
location here:
google.ie/maps/@53.3480726, … !1e3?hl=en

Apparently the students in Trinners might see this and be reminded they aren’t in a timewarp back to 1790s.

thejournal.ie/dublin-city-co … 3-Jul2017/

So no you can’t build high density on top of a major transport hub contrary to what’s in your own meaningless development plan.

One excellent comment:

DCC are 500 Mn in Debt, which minister can I write to to get them liquidated?


#65

The citizens of Dublin need to be saved from the blight of high rise buildings . There is something deficient in Dubliners compared to the citizens of hundreds of other large cities spread around the globe who appear well able to get on with their daily lives despite being surrounded by high rise buildings. But the DCC planners know best , so we will just keep building low rise and continue to widen the footprint of the city which currently covers an area of approx 40 kms from north to south and 20 kms from the bay going westwards.


#66

A friend of mine is a conservation type. He cares deeply about architecture and the built environment. Most people - me included - don’t really think about it all that much.

He basically hates anything built in the last hundred years.

My guess is that people like him are disproportionately found as planners in DCC.


#67

I think about it quite a lot and I think that Johnny Ronan’s plan is for a bland, bulky building in the wrong place, but I also think that Dublin could easily survive and maybe even benefit from having more tall buildings in the right places. The docklands developments, particularly the north Liffey/Spencer Dock area and also the old CIE estate in Inchicore were missed opportunities. One can understand the relatively low elevation around Grand Canal Dock and out towards Beggar’s Bush, since it was the first big, recent urban redevelopment of a derelict area in central Dublin and ambitions were bound to be more modest at the time, but when it came to the whole Tiger era boom on the opposite side of the Liffey and out to East Point, on an equally cleanable slate, they really dropped a clanger. The same is true of the south river front from the Samuel Beckett bridge out towards the Eastlink and beyond.

He has a point. :laughing:
Most buildings from 1920 to 1990 look shit (imo). :frowning: Most buildings post 1990 are just bland, but at least they’re not expected to last very long, so it probably doesn’t matter quite so much. :wink:

Disclosure: I am not a DCC planner. :wink:


#68

Site for sale close to Facebook Building on East Road, a clear sign of rising prices in the outer edges of the North Docklands.

From todays newspapers—

*Prime Dublin Docklands development Site for €27 million
October 11, 2017 188 Views
On the instruction of Duff & Phelps, Savills is marketing a rare development land bank of over 5 acres in Dublin’s North Docklands and is guiding €27 million.
The sale is expected to attract the interest of residential & PRS (private rented sector) developers and funds, as securing a site with such scale and in such a central location is a real rarity in the Dublin land market.

This site presents a significant unconstrained street frontage onto East Road and are bordered to the north and east by existing residential enclaves. The property comprises a prominent site of approximately 2.10 ha (5.20ac). The terminus stop of the Luas Red Line service is within walking distance, delivering access to Connolly Rail Station and City Centre within 6 minutes, as is the Docklands Rail Station. The site is located close to The Point Village District Centre, a significant retail development comprising the Point Village Retail Centre, O2 Entertainment Complex and the Gibson Hotel. The proximity of these facilities to the site puts it at a significant advantage for any future development.

Under the Dublin City Development Plan 2016-2022, the subject property is zoned Objective Z14 (Strategic Development and Regeneration Areas). While there is no current planning permission pertaining to the property for future development, a feasibility study has been prepared to illustrate the development potential of the subject site, subject to planning permission. The site is envisaged as being suitable for primarily residential use, given the adjacency on three sides of existing residential use.

The feasibility study, prepared by Dublin’s leading architectural firm O’Mahony Pike illustrates the potential of the site to accommodate a scheme of approximately 400 apartments ideally suited for the Private Rental Sector subject to securing the necessary planning permission. In addition Ray Ryan of BMA Planning has also prepared a planning report on the development prospects for the site.

The property is currently occupied, however vacant possession is available by August 2018. This provides the purchaser with an opportunity to benefit from short-term income whilst seeking planning permission for a scheme of development.

According to Savills, prospective buyers will be provided with an opportunity to capitalise on an area undergoing significant change in the north docklands and also to tap into the pent up local demand for residential accommodation both to rent and purchase.*


#69

I took a walk down to google HQ yesterday- I am very familiar with around the grand canal dock but never went near to where google offices are. I have to say I was shocked at how horrible the whole Barrow st is. It’s pretty grim with the ugly little houses, the backs of those horrible 90s apartment facing the dart and the front of the google buildings themselves are bland and uninviting. I walked over to the gasworks apartments (which I didn’t realise were basically right beside) and everything there struck me as incredibly dull and depressing. The whole place is a mess- maybe the new development at Bolands Mill will help but I just thought it was horrible.


#70

Nice Work if You Can Get It !

Galway-born developers Luke and Brian Comer are set to secure €95m from the sale of a Dublin office block to a major German fund manager, the Irish Independent can reveal.

The Comer Group is understood to have agreed heads of terms on a deal which will see the disposal of the Beckett building on East Wall Road in the city’s north docklands to Munich-based GLL Real Estate Partners.

Located between East Point Business Park, where Google and Cisco Systems lease offices, and the Point Village, where Altaba (formerly Yahoo!) occupies space, the building has since last year been a second home for Facebook, following the US tech giant’s decision to expand its operations beyond its existing European headquarter offices at Grand Canal Square.

Facebook is leasing over 100,000 sq ft of office space at the Beckett at a rent of €24 per sq ft - a fraction of the prevailing rate in the city’s Silicon Docks and Central Business District.

The Comer Group will have made a massive profit on the sale of the property, having acquired it for a knockdown price at the height of the crash in 2011.

Prior to the Comers’ acquistion, the six-storey office block had lain vacant for almost a decade.

The €95m sale points to the strength of the recovery which has taken place in Dublin’s commercial real estate market.

The Comers, for their part, have benefited enormously from the resurgence in property values in the capital, having snapped up a range of major assets during the financial crisis for bargain-basement prices.

Their most high-profile purchase came in 2013 with the €22m acquisition of the former UCD veterinary college in Ballsbridge.

The 2.2-acre site had previously been purchased by Glenkerrin Homes chief Ray Grehan in 2005 for €171.5m - a record-breaking €84m an acre. The Comer Group is now in the final stage of delivering Number One Ballsbridge, a high-end offering of offices and apartments on the site.

The group has already secured Avolon, one of world’s leading aircraft lessors, as tenants for the largest of the scheme’s three blocks.

Two other aircraft-leasing companies have signed up for individual floors elsewhere within the development.

Elsewhere in the capital, the Comers’ purchase of the unfinished Sentinel Building in Sandyford for €850,000 in 2011 is poised to deliver major dividends, following the recent granting of planning permission for the development of 294 ‘live-work’ apartments there.

While GLL Real Estate Partners may not secure the same level of return on its investment in the Beckett as the building’s previous owners, it too has benefited from the resurgence in the Dublin property market.

Last year, the Munich-based fund manager sold AIB’s high-profile branch building at 100/101 Grafton Street to Irish Life for a reported €50.11m.

The price represented an uplift of €20.11m - or over 44pc on the €28m GLL Real Estate Partners had paid to secure the property in July 2010 as Ireland’s economy teetered on the brink.

In January 2013, GLL invested in Dublin city centre again, paying in the region of €40m for the River Island Store and adjoining Cath Kidston outlet at the bottom of Grafton Street. The two buildings had previously been purchased by the developer David Daly in 2007 for €115m.

Efforts by the Irish Independent to contact Luke Comer for comment on the Comer Group’s sale of the Beckett building were unsuccessful. A spokesman for GLL Real Estate Partners had not responded at the time of going to press.

Irish Independent


#71

From todays Irish Independent

Bidders Fight it Out for Prime North Docklands Site

One of the last remaining prime development sites in the Dublin Docklands and its strategic development zone (SDZ) is going on the market today for a guide price of €110m.

Extending over 5.91 acres to the rear of the Central Bank’s new headquarters at North Wall Quay, CB3 (City Block 3) Docklands is being offered for sale in three lots by joint agents Cushman & Wakefield and Savills on the instruction of David Carson of Nama-appointed receivers Deloitte.

Lot 1 is guiding a price of €45m and comes with full planning permission for the development of 347 residential units on 1.44 hectares (3.55 acres). At €65m, Lot 2 has a pending planning application for an office-led mixed use scheme of 30,890 sq m (332,497 sq ft) distributed across a 0.95 hectare (2.35 acre) site. Lot 3, meanwhile, incorporates the entire CB3 portfolio.

The competition is expected to be intense, owing to its pivotal location on Mayor Street Upper and Castleforbes Road, and at the heart of the Dublin Docklands SDZ.

Prospective purchasers will be encouraged by the performance of the Dublin office market in 2017, with five lettings of over 100,000 sq ft secured. In one of those transactions, the NTMA agreed to rent over 140,000 sq ft of office space at Dublin Landings, the one million square foot mixed-use scheme being built by developer Sean Mulryan’s Ballymore beside the Central Bank’s new headquarters, and within a short walk of the CB3 site.

Other major projects under way within the immediate area include developer Johnny Ronan’s scheme at Spencer Place, Blackrock’s Point Campus, Glenveagh’s North Block, and the Exo Building at the Point Village.

In terms of its residential offering, CB3 has full planning permission for 347 units comprising 340 apartments (103 one-beds, 191 two-beds and 46 three-beds), and seven three-bed two-storey houses. Planning permission was secured in advance of the new apartment design standards published recently by Housing Minister Eoghan Murphy. According to the selling agents, more recent feasibility studies suggest that these revised standards could see the residential density on the CB3 site increased to between 400 and 450 units.

The CB3 commercial site, designed by Reddy Architecture + Urbanism, has a pending planning application for a substantial office scheme laid out over three blocks with some retail space provided at ground level.

This development will complete the gaps in the grid comprising Castleforbes Road / Mayor St / Upper Sheriff St and will provide the footfall for new retail outlets.


#72

Is this not a good thing? €110m heading into the coffers of the government.


#73

nama sold off everything on the cheap


#74

Nama is the owner - do you consider circa €20m/acre cheap?


#75

Here’s a couple of bucks for your trouble. All that area was sold off on the cheap during the crash. This will hardly civet the losses that we are paying for. Probably will have to bail these guys out in the future when the great Dublin office space boom comes to an end


#76

Fully agree with earlier posts , 110 million is very good money for the site and is far more than what would have been achieved 5 years ago. NAMA’s strategy for managing / developing and disposing of the docklands sites it acquired has been a commercial success.


#77

I won’t go quiet that far - but the likelihood of a €3-5billion profit is a long way from the consensus on the pin in 2011


#78

Last waterfront site on North Docklands goes on sale for 120mEuro. The site bounded by Castleforebes Road / North Wall Quay / North Wall Ave and Mayor St - formally Maritime House , Chetham Warehouse and Hales Freight Building

youtube.com/watch?v=3DZWJ4qJ_e0