Bannon is pleased to welcome this year’s interns. We are delighted to have you join the team and hope you have a fantastic time working with us.
Stephan Van Breda, Troy Ryan, Kate Wolfe, Emily King
What a wonderful treat this morning!
Bannon’s Social Committee is delighted to introduce Coffee and Pastry Mornings, the first of many, to boost morale and welcome new colleagues.
The new Dublin City Development Plan for the period 2022-2028 came into effect on 14th December 2022. The Plan establishes the planning framework for the evolution of the City over a six-year period. One of the most notable changes brought about in this Plan are the restrictions placed on the potential future development of lands zoned ‘Z15 – Institutional and Community’. The Plan states that any residential or commercial development on such lands would only be considered in “highly exceptional circumstances”.
It is estimated that some 1,800 acres of land throughout the City Council administrative area are zoned Z15. While a significant portion of this total comprises existing educational and healthcare facilities, a significant proportion comprises lands privately owned by religious organisations including the Archdiocese of Dublin. In an era where consolidation of parishes is likely to become more prevalent, these properties, which are typically centrally located within local communities, could offer the potential for repurposing as social or private housing and go some way towards the addition of much needed residential stock across the capital. It appears contradictory that the new Development Plan has limited the future development potential of these lands in a time of chronic need and when creative solutions are required most.
Niall Brereton BSc MRICS MSCSI is a Registered Valuer and Director of Professional Services at Bannon.
A little Christmas together with the Bannon team.
A brand new Zara store will open at Blanchardstown Shopping Centre tomorrow just in time for Christmas.
The store is set to be the largest branch in Ireland and will open its doors and 9am. The fashion retailer’s Blanchardstown outlet has been temporarily closed as they moved to the 52,000sq ft former Debenhams unit in the shopping centre.
A spokeswoman for Blanchardstown Centre said: “The expansive new store will offer the latest womenswear, menswear and childrenswear collections, along with accessories, through a world-class and vibrant in-store experience.
“The new store features the latest technological innovations of Zara’s integrated online and physical store platforms. It is equipped with technological tools to offer customers a unique fashion experience. The store also includes new areas for the latest product lines, such as the menswear Athleticz line (the only one in Ireland), as well as footwear and accessories.”
The impact of macroeconomic changes on the property sector being discussed at The National Property Summit 2022 today.
Our Chairman Neil Bannon will be discussing the commercial property sector with Suzie Nolan from Aviva, Vincent Harney and Carol Tallon from Property District.
A busy morning at MAPIC for our retail team Darren Peavoy and Jennifer Mulholland, catching up with retailers and colleagues in The International Retail Network (TIRN).
The Bannon Property Management team is expanding with a growth of 20% in the last 12 months.
The team celebrated a successful year together at their Christmas department dinner last Friday. A big thanks to the team in FX Buckley on Pembroke Street for their hospitality.
Here’s to a prosperous 2023!
Join Neil Bannon at the upcoming National Property Summit 2022 on 1st December discussing the latest challenges and opportunities facing Irish commercial property with this expert panel.
To celebrate World Kindness Week, the team at Malahide Road Retail Centre carried out some random acts of kindness by surprising some of our shoppers with gift cards across all our stores to help with their shopping!
Happy shopping everyone!
Walker Communications Irish Life Investment Managers
Some bright news on this dark Monday! The funds collection for Property Picnic 22′ is complete, and the final transfer was an unexpected €170,087 following the big cheque transfer to Cancer Trials Ireland by the Bannon Team and Louise Creevey’s family! The Bannon Charity Committee would like to extend huge thanks to the wider property industry for embracing this event with over 64 participating firms but with particular thanks to the keystone, raffle and auction sponsors.
Watch this space for Property Picnic 2023!
Embodied carbon refers to the emissions associated with all the activities of procuring, mining and harvesting raw materials. It includes transforming these materials into construction products, transporting them to site and incorporating them into a building. Subsequently, it includes maintaining, replacing, removing and disposing at the end of their life. Essentially embodied carbon is built into the fabric of a building.
Eleven percent of global emissions are associated with embodied carbon emissions from new construction. With the introduction of the revised Nearly Zero Energy standard, NZEB, through Part L of the building regulations in 2019 for both residential and commercial buildings, the upfront embodied carbon now represents a much greater part of the whole life cycle carbon of the building.
Over the last 6 years development of Grade A office schemes has accelerated in the capital, with 7.8 million sq.ft of Grade A offices delivered to date. The majority of these buildings have been world class in terms of their sustainable and environmental credentials. This has attracted international blue-chip tenants and commanded prime rents. Importantly, these assets have performed particularly well when transacted and have appealed to numerous investors, with several new entrants emerging into the Dublin capital markets sector over the period. Prime top-tier office investment yields have continued to perform well with yield levels being sustained through the covid 19 pandemic, highlighting the demand for this type of product.
Companies are setting ambitious ESG goals with increasing pressure to report on activity. The onus will be on fund managers, financial advisors, asset managers and all participants within the financial markets to disclose all information on ESG issues. There will be additional requirements for products that promote ESG characteristics and have sustainable investment objectives. Therefore, the emphasis on portfolio performance will be key for these stakeholders. The quality of the assets held will continue to be critical.
Whilst new Grade A schemes grab the headlines, there is over 45m sq.ft. of office stock in the Dublin market across various asset classes. Older stock continues to perform, particularly in the CBD where the reduced rent payable in parallel with prime location appeals to some occupiers. There is, however, a lifespan to these schemes, particularly in light of new regulations. Therefore, the owner must consider the proposition in terms of future decreasing value, occupier appeal, performance and the asset becoming environmentally stranded.
A ‘stranded asset’ relates to a building where the cost of bringing it into line with current and future environmental standards is not justified in the context of the value once the works are completed. Embodied carbon may create an opportunity for environmentally stranded assets. As the cost of carbon and consequently new building increases, the value of the embodied carbon within existing assets may rescue the value of some assets currently perceived to be stranded.
There will be huge opportunity for those with the skills to efficiently transition these buildings back to the institutional mainstream. In this regard valuing and selling these assets will require an in-depth analysis of the true costs associated with bringing them up to standard. Bannon is actively carrying out these exercises for a number of clients through our sustainability business Evia – Sustainable Facility Services.
Authors: Cillian O’Reilly, Surveyor, Sustainability Manager, Bannon / Lucy Connolly, Divisional Director, Bannon
Date: 5th October 2022
Transport is the number one contributor to the Bannon carbon footprint. The scale of our extensive nationwide portfolio means that staff accumulate a significant number of kilometres traveling to meetings, site visits and commuting to the office.
Our Sustainability Subcommittee actively promotes the use of sustainable transport options. Dublin City Council bikes, electric scooters, the bike to work scheme and tax saver public transport tickets are all made available to the Bannon team. And it starts at the top! Managing Director Paul Doyle and Executive Chairman Neil Bannon are regularly spotted leading the charge around Dublin city.
Neil Bannon and Roderick Nowlan back on the conference circuit again. Great to be back at EXPO REAL (Messe München) and we look forward to seeing you there!
As Ireland’s largest domestically owned Commercial Property Consultancy, Bannon is a market leader in all aspects of commercial real estate, including environmental sustainability. The firm’s Environmental Management System is certified in line with ISO 14001:2015 standards by the National Standards Authority of Ireland. This system has been integrated with Bannon’s ISO 9001:2015 Quality Management System to best serve the Owners, Investors and Occupiers that the firm interacts with on a daily basis.
Our Environmental and Sustainability Policy, covers a range of topics within the office and across the client portfolio. The implementation of the policy is monitored by the firm’s Sustainability Subcommittee which is made up of team members from across the firm and co-ordinated by Bannon’s Sustainability Manager, Cillian O’Reilly.
From replacement of plastic bottled water and takeaway coffee cups with reusable alternatives to moving our entire Property Management portfolio to renewable energy sources, everyone at Bannon is committed to our environmental agenda. We know that “no matter how small and unimportant what we are doing may seem, if we do it well, it may soon become the step that will lead us to better things”.
To read our Environmental and Sustainability Policy to find out how we achieve sustainability for clients and the firm in a meaningful way, click here.
Great to get back to Munich again for EXPO REAL (Messe München) (4-6th Oct).
Get in touch for a chat with Neil Bannon and Roderick Nowlan on Irish Real Estate Opportunities and the impact of ESG on the Irish market.
Super day meeting with international retailers at Completely Retail Marketplace in London for our retail team, James Quinlan, Jennifer Mulholland and Darren Peavoy.
Very positive interactions with plenty of requirements for the Irish market in 2023.
It is our pleasure to welcome Penneys to The Square Tallaght today. The addition of Penneys is a milestone moment in the history of the Centre.
In the past number of months, we have welcomed a number of new occupiers to the Centre, including a new state of the art cinema. The Penneys opening is another significant investment into the Centre and we wish them every success.
Congratulations to our Bannon team, asset managers Sigma Retail Partners, facilities consultants Evia – Sustainable Facility Services, the centre management team at The Square Tallaght and all who have contributed towards the project.
Bannon are delighted to take part in this years Dragons at the Docks boat race today in aid of the Dublin Simon Community.
Wishing our team the very best of luck on the water!
Another fantastic addition to the Tenant mix at Marshes Shopping Centre diversifying and complementing the existing offer.
Best of luck Thérapie Clinic.
The Bannon team were delighted to volunteer their day yesterday to Alone.
Making a difference to the lives of people experiencing homelessness or who are in need of assisted housing over the age of 60 all across Ireland has been extremely rewarding for all involved.
The Bannon team took part in the Nexus 5-A Side Soccer Tournament held by the Society of Chartered Surveyors Ireland on Friday evening.
It was a great event for all involved and we are looking forward to the next one!
The Bannon team took part in the Nexus tag rugby event held by the Society of Chartered Surveyors Ireland on Thursday evening.
It was great to see so many companies across the industry join the game. A fantastic time was had by all.
Wildflowers in full bloom at Thurles Shopping Centre ahead of the centre celebrating it’s 25th Anniversary this weekend, Saturday 25th June.
Thurles Shopping Centre have a Family Fun day planned, with Beat FM broadcasting on site for the afternoon along with Willy Wonka, magic shows and fun and games for all the family.
The Bannon team totalled up an impressive 3,227.40 miles for The Mater Foundation.
Bannon is delighted to present a cheque to the Foundation for €3,227.40 as well as €2,255.00 online donations, which will hopefully go some way to supporting improvement to patient care.
We want to thank those who got involved once again for all their efforts during a long, cold and wet February. We are proud of the team knowing we can make a difference when working together.
Hats off to our Bannon committee for putting on a fantastic event in aid of Cancer Trials Ireland to celebrate the lives of Louise Creevy (nee Doherty) and Jason Miller. We want to thank everyone involved in Property Picnic again for all of their help and support.
The Bannon Property Management team is expanding with the addition of Iain McGann (pictured right). Iain brings a wealth of experience having worked most recently in BCM Global’s Dublin office as an Asset Manager. Ray Geraghty – Director of Property Management (pictured left) said “We are delighted to welcome Iain as we grow the team and continue to extend our reach in the market”.
The Bannon KeepCups and Chilly’s water bottles arrived today for all staff. As a firm we are strongly committed to reducing waste and promoting wellbeing. No more plastic coffee cups for the Bannon team!
Property Picnic was officially launched last week and to say that we are blown away by the support and generosity of so many is an understatement. Our primary focus in creating the event was to celebrate the life of our much-loved colleague Louise Creevy (nee Doherty) who sadly passed away last year and in doing so we also wanted to honour our industry colleague Jason Miller who also sadly passed in 2021.
We wanted to create an event that reflected Louise and Jason’s fun loving personalities and to raise significant funds for Cancer Trials Ireland . This organisation provided a great deal of support to Louise and her family throughout her illness and was their chosen charity.
We are thankful to all for giving us the opportunity to create this exciting event, in particular our Keystone sponsors Hibernia REIT plc, Core Capital Limited, Eagle Street Partners, Iconic Offices, Matheson, Glass Bottle and McGrath Group.
See you at the Picnic!
If you cannot attend the event but would like to make a donation to this worthy cause, click here.
Limited tickets available, click here.
Beer and Pizza session with the Bannon team to share the great work within each of the departments. The Professional Services team are up first. Super to see most of the team back in the office.
Bannon recently announced two very deserving promotions – Ben Semple to Divisional Director and Eugene Burns to Associate Director.
Ben has played a leading role in the Professional Services Team since Bannon was founded in 2005. Ben specialises in the provision of Valuation, Landlord & Tenant and Development Consultancy services.
Eugene is an integral part of the Property Management Team and leads several high profile management instructions.
Bannon Managing Director Paul Doyle commented “Ben and Eugene each play an important role, with the wider team, in continuing to elevate Bannon’s position in the market by providing a best-in-class service to our clients. These promotions are in acknowledgement of Ben and Eugene’s efforts, professionalism and contributions to Bannon and our clients”.
An early start this morning for our Bannon retail team for the Completely Retail Marketplace event in London. It has been great to meet people in person to discuss our Landlord and Tenant requirements.
Bannon is delighted to receive ISO 14001:2015 Environmental Management Systems certification which will function alongside our existing ISO 9001:2015 Quality Management System for all services provided by Bannon.
This certification is validation of Bannon’s commitment to Environmental Sustainability in the delivery of our property consultancy services that span across retail agency, office agency, professional services, investment, consultancy and property management.
Many thanks to all involved, in particular the newly formed Sustainability Subcommittee, who embraced the challenges of designing and implementing the system. All eyes now turn to the future and the implementation of a range of innovative initiatives.
A big welcome to this year’s interns from everyone at Bannon (including our office dog – Lily).
Mark Hayden, Stephen Keegan, Alison O’Gorman, Brian Morton, Dwane Martin.
No sun (glasses obligatory) but plenty of business to be done at this years MIPIM 2022 for the Bannon team…. Call if you’re around and would like a “coffee”.
Great to get back to MIPIM 2022 (15-18th March) for Neil Bannon and Roderick Nowlan.
Please feel free to get in touch if you would like to arrange a meeting.
Best of luck to the Square management team, security, facilities and all the store staff with the “Cycle for Ukraine” fundraiser. The fundraiser will run today and tomorrow in the Centre Mall, from 11.00am – 6.00pm.
All funds raised will go to the Irish Red Cross to help those affected get food, medicine, shelter and water. Donations will also help those displaced by the conflict.
Cash donations are welcome, however if you cannot make it in person, you can donate online here or by scanning the QR Code in the image attached.
Happy International Women’s Day.
To mark the day and The Square’s Club Together initiative, please watch the video below that celebrates amazing “Strong Women” in the local community.
Tallaght is blessed to have so many influential role models in the community. Their amazing achievements inspire the younger generations and help create a thriving society where equality duly prevails.
We are very fortunate to work with some amazing women in Bannon and across our wider portfolio. Thank you for all your help and support.
Thank you to everyone who has supported us in our 100 Miles in a Month fundraiser for The Mater Foundation. It’s been a tough challenge but even storm Eunice couldn’t stop our team and with only one week left to go, we can all agree that it has been an incredible experience so far.
There is still time to donate, which would be hugely appreciated.
To support us, click here.
We at Bannon are delighted to be taking part in The Mater Foundation 100-mile challenge. The aim is to walk/run/jog 100 miles in the month of February and help raise money for the Mater Public Hospital which provides national, specialist care for cancer, heart disease, transplants, spinal injuries, major physical trauma and infectious diseases.
It would be greatly appreciated if you could support our efforts by making a contribution, big or small, to help change patients lives for the better.
To donate, click here.
From all of us here at Bannon, we would like to wish you and your families a very happy and healthy Christmas with every success for 2022.
We are delighted to announce the winners of the Bannon “ESG Signage” Art competition run in conjunction with Loreto Junior School Stephens Green.
Congratulations to Amy He (Power Down), Sorcha Murray (Pause before you print) & Grace Yu (Recycle) for their fantastic artwork.
A big thank you to everyone who got involved! Amazing talent from such a young group!
The winner of the Bannon “ESG Signage” Art competition run in conjunction with Loreto Junior School Stephens Green being adjudicated by today.. Keep an eye out on our page as we will be announcing the winners over the next few days!
It’s beginning to look a lot like Christmas here in Bannon!
Bannon recently welcomed a number of new colleagues to the team. Our Managing Director Paul Doyle commented, ‘We are delighted to be expanding our team across the business, to provide a greater depth of expertise to our wide client base. We wish our new colleagues every success and enjoyment in Bannon’.
Roderick Nowlan and Neil Bannon back on the conference circuit again. Great to be back at EXPO REAL meeting people in person.
Great to get back to Munich for Expo (11-13th Oct) for Roderick Nowlan and Neil Bannon.
Get in touch for a chat on Irish Real Estate Opportunities and the impact of ESG on the Irish market.
We were delighted to hear our Executive Chairman Neil Bannon interviewed on Executive Chair, part of Newstalk’s “Down to Business” radio show on Saturday. Neil and Bobby discussed the big changes to the nature of the Office and how it will move from being functional to experiential. He provided the valuable insight that Investors and Employers are now going to be more concerned about the experience of being in the office. It will no longer simply be a place with a desk but instead somewhere you look forward to visiting in the new hybrid working world.
As a result, he mentioned that Bannon had seen a notable increase in clients seeking to have the firm leverage our market leading Retails skills and apply them to the Office. Other topics covered included how Neil’s Law degree helps with complex lease and purchase negotiations, setting up Bannon with his father Joe and how an independent, Irish owned business, excels at competing with multi-national competitors in this market.
Take a listen…..
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