Exclusive: Ireland’s Upward Only Rent Review abolition legislation revealed

Promised in both the Labour and Fine Gael General Election manifestos, and in the subsequent Programme for Government, talked about by Minister for Justice, Equality and Defence, Alan Shatter for the past six months and the subject of much debate, speculation, dark warnings, impassioned pleas and on here, sometimes heated arguments; now at last, the […]

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Fine Gael set to break key manifesto commitment and abandon its pledge on Upward Only Rent Reviews, as commercial tenants face uncertain future

“We will pass legislation to give all tenants the right to have their commercial rents reviewed in 2011 irrespective of any upward-only or other review clauses” Fine Gael Manifesto 2011 “In the context of the Government’s consideration of upward only rent reviews, the Department of Finance prepared a short economic assessment of the potential effects […]

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Only 3.5m sq ft of vacant office space left in Dublin city centre

Property services giant and NAMA valuation panel member, Jones Lang LaSalle (JLL) has just produced its quarterly review of the Dublin office market which has an upbeat assessment of the market with rental transactions roaring ahead, and vacancy levels plummeting to levels last seen in 2007 before the recession, rents have stabilised, tenant incentives are […]

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Of the Week…

Table of the Week Remember the Good Auld Days (in 2008) when rents on Grafton Street were the fifth  highest in the world overtaking London and Tokyo? Not any more. According to CBRE’s review of global retail rents this week, Dublin has now fallen to 32nd position, and based on Jones Lang LaSalle’s latest quarterly […]

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NAMA is approving 97% of requests for rent abatements from commercial tenants

Although the Minister for Justice, Equality and Defence Alan Shatter made a complete hames of the Upward Only Rent Review issue last year, the announcement in December 2011 of the abandonment of Government initiatives to deal with high legacy rents was accompanied by the launch of a NAMA initiative to help commercial tenants in difficulty. […]

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Another NAMA developer declared bankrupt in the UK

On 15th April, 2012 it was reported on here that Dublin property company Spain Courtney Doyle appeared to have relocated from Dublin to London, even though property still advertised on the company’s website was located in Dublin. It seems that on 8th May 2012, Bernard Doyle, one of the principals in the company was declared bankrupt in […]

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Another few positives emerging from NAMA

NAMA’s management accounts for 2011 have now been with the Minister for Finance, Michael Noonan for at least a week now, but it’s likely we’ll need wait another few weeks before we see NAMA’s out-turn for 2011, but the betting on here is we’ll see a nice chunky loss after impairment charges are properly accounted, […]

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Sobering picture of the Dublin office market in Q1, 2012

Property powerhouse and NAMA valuation panel member, CB Richard Ellis (CBRE) has today published a quarterly review of the Dublin office property market in Q1, 2012. Here’s a summary.   “It’s shaky out there” might sum up the experience of Q1. Although the amount of accommodation rented in the quarter was disappointing by recent standards, […]

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A review of NAMA in 2011

“If past history was all there was to the game, the richest people would be librarians”  Warren Buffett Last week, there was a preview blogpost for NAMA in 2012 which is the future where riches lie, and this is the librarians’ review of NAMA in the past 12 months, divided by month. January 2011 In […]

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2011 in pictures

Yes some of us might be braving the after-Christmas sales, or venturing out for brisk walks and fresh air, but the rest of us are struggling with over-indulgence and the remote control. So here’s a review of 2011 in pictures which hopefully won’t distract too much from holiday relaxation. First up, during the year the […]

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