Bannon has secured a new tenant for a modern warehouse unit extending to 9,450 sq.ft at Unit 6.2 Woodford Business Park, Santry. Hella Group, the global car parts manufacturer, has agreed a letting of Unit 6.2 to cater for expanded product lines in the Irish market and to secure the company’s future growth.
View Industrial property listings
For further information on similar units please contact Niall Brereton, of Bannon today.
The Board of Bannon Commercial Property Consultants is delighted to announce the appointment of Paul Doyle to the role of Managing Director.
Paul is one of the founding members of Bannon and since the inception of Bannon in January 2005 has been head of the Professional Services Team. Paul will continue in that role.
Former Managing Director Neil Bannon will continue as head of Asset and Property Management and, in a strategic move for the company, will be dedicating more of this time to business development with a particular focus on the practice’s international client base. Neil’s concentration on this area reflects the ever increasing importance of providing professional services to an international standard.
Joe Bannon will continue in his role as Executive Chairman.
In commenting on his appointment Paul said, “I look forward to starting my role from an excellent platform within Bannon, surrounded by some of the most experienced staff in the Irish commercial property market. Anticipating a very strong 2015 on the back of strong economic indicators, a noted acceleration in new development to cater for the supply shortage in certain sectors and another busy year in the transaction market, we look forward to satisfying the specialist requirements of our expanding client base. On the back of our confidence in the market we will, over the next few months, be increasing our staff from 55 to over 60, by adding five new surveyors. 2014 was an extremely busy year for Bannon, and in 2015 we see ourselves even more so at the fore of the market”.
Neil Bannon commented “Bannon has matured into one the most significant players in the Irish property market and is now the largest Irish owned Commercial Property practice. We credit this success to the calibre and commitment of the energetic team that has been attracted to Bannon over the last decade. The Irish property market promises to be an exciting and prosperous environment over the next decade as we move to a new more sophisticated Commercial property environment where the reliance on ‘best in class’ property professionals will become ever more important”.
The volume of retail sales (i.e. excluding price effects) increased by 0.2% in November 2014 when compared with October 2014 and there was an increase of 4.7% in the annual figure. If Motor Trades are excluded, there was an increase of 0.1% in the volume of retail sales in November 2014 when compared with October 2014 and there was an increase of 3.6% in the annual figure.
The volume of Clothing, Footwear & Textiles increased by 2.2% and Department Stores increased by 1.6%.
The value of retail sales decreased by 0.2% in November 2014 when compared with October 2014 and there was an annual increase of 2.2% when compared with November 2013. If Motor Trades are excluded, there was a monthly decrease of 0.3% in the value of retail sales and an annual increase of 1.2%.
Pictured: Neil Bannon (left) and Marcus Wren (right)
Marcus Wren, former Senior Retail Property Advisor with The National Asset Management Agency (NAMA), has opened Ireland’s only specialist retail asset management company.
Sigma Retail Partners will provide a wide range of retail asset management services and expert advice to banks, private owners and national and international investors.
Mr. Wren left NAMA in early October and throughout his time there he played a key role in managing NAMA’s vast portfolio of retail assets. He worked with hundreds of retailers and owners many of whom were experiencing significant difficulties due to the collapse in the Irish economy.
Marcus Wren has over 20 years experience in the retail property sector. Prior to joining NAMA he was a co-founder and Director of Bannon, one of Ireland’s most successful commercial property firms with particular expertise in the retail property sector.
Neil Bannon of Bannon is also a co-founder and Director of Sigma Retail Partners and brings with him 25 years of retail asset management and property management experience. Mr. Bannon played a key role in the design, letting and asset management of many of Ireland’s prominent retail developments including Dundrum Town Centre, the most successful shopping centre in the country.
Above: IDA Ireland’s CEO Martin Shanahan
IDA Ireland, the Irish Government agency responsible for attracting foreign direct investment, has reported the creation of 15,012 new jobs by IDA client companies during 2014. When job losses were taken into account, the net increase in employment was 7,131, one of the highest net levels of job creation in a decade. Total employment at IDA client companies now stands at 174,488 people, the highest level in the history of IDA Ireland.
IDA has now exceeded the jobs and investment targets set under its Horizon 2020 strategy (a regional economic development target for the dispersal of investments in regions outside Dublin and Cork) and is currently finalising a new five-year strategy to take the organisation into a new phase of development.
There were 197 investments in 2014, equating to a 20% increase on 2013. There was a notable rise in new name investment, with 88 new name investors in 2014, equating to a 13% increase on 2013.
Among the leading investments secured during the year were Amazon, Bristol Myers Squibb, Fidelity, LinkedIn, Survey Monkey, Air Bnb, PayPal, Ericsson, SAP, Johnson & Johnson, West Pharmaceuticals, Zendesk, Adroll and New Relic.
Ireland’s corporation tax offering was enhanced during 2014 with changes introduced as part of Budget 2015.
NAMA has issued their end-year summary of progress made in 2014 and on a number of its key objectives and targets:
NAMA has sold €18.7bn in loan and assets sales with €7.8bn sold last year alone, its end-of-year summary shows.
Bannon will close Tuesday 23rd December 2014 and will reopen on Monday 5th January 2015
Best wishes for the festive season from all the staff at Bannon
The Quarterly report released from the Central Statistics Office today show Ireland’s quarterly international investment position (IIP) an overall stocks of foreign financial assets of €3,374.7bn – an increase of €250bn on the end-June 2014 level, while the corresponding stocks of foreign financial liabilities increased by €248.5bn to €3,551.2bn over the quarter. Irish residents had an overall net foreign liability of €177bn at end-September 2014, a decrease of €1bn on the net foreign liability level at end-June 2014
Within the commercial financial sector (i.e. MFI and OFI), IFSC enterprises accounted for a very high proportion of the sector’s overall foreign assets and liabilities. IFSC assets abroad increased by €205.4bn to €2,689.2bn at end-September 2014, or 95% of the sector’s foreign assets; IFSC liabilities at €2,725bn, an increase of €208.1bn, represented 97% of the commercial financial sector aggregate liability (and 77% of Ireland’s total foreign liabilities). IFSC enterprises showed a net liability position of €35.8bn.
Royal Bank of Scotland Group, Ulster Bank’s parent company, has announced this morning that Cerberus has paid €1.38bn for the Project Aran, which had an unpaid loan balance of €5.6bn and gross liabilities of €6bn. Fending off still competition from Lone Star and a consortium comprised of CarVal Investors, Goldman Sachs’ special situations fund and Apollo Global Management.
Project Aran was comprised of approximately 1,300 borrower groups, over 6,200 loans with around 5,400 properties. More than 75% by loan balance is secured by Irish assets and about 20% in Northern Ireland, with more than 90% of the loan portfolio in default.
Project Aran was upsized from an initial circa €1.7bn portfolio, back in October – View Previous Article
Dublin City Council will officially launch The North Lotts and Grand Canal Dock Planning Scheme on Wednesday 10th December at 11am at the Dublin Docklands Development Authority Offices at Custom House Quay, Dublin 1. The scheme was adopted by Dublin City Council in November 2013 and approved by An Bord Pleanala on 16th May 2014. Councillor Paddy Bourke, representing the Lord Mayor of Dublin, officially launched the scheme.
The publication marks the beginning of a new process of implementation of the Docklands Strategic Development Zone (SDZ) Scheme for the City, and a new era of investment and development in the Docklands area. The fast track planning for the Docklands (SDZ) has already seen the lodgement of its first major planning application at the Bolands Mill site with a decision due on this application in February 2015.
The Docklands SDZ is recognised as an area which is of city, region and national economic and social importance, not least due to the pro-active role the most significant land holder, NAMA, will play in its delivery.
Circa 22 Hectares are available for development in the North Lotts and Grand Canal Dock Scheme, an area roughly equivalent in scale to the entire Custom House Docks / IFSC Area. Under the scheme, the floorspace to be delivered amounts to almost 2,600 residential units and about 305,000 – 366,000 square metres of commercial floorspace. This potential would deliver an additional residential population of 5,800 and employment of 23,000 people.
This planning scheme under the Docklands SDZ seeks to meet the future needs of the City, by creating a vibrant living urban quarter and an economic cluster, capable of competing on an international level. The Docklands area has the potential to support real economic recovery and provide for a critical mass of development; to foster investment and innovation and sustain the growth of key sectors, such as financial services and the services economy.
This scheme provides a clear blueprint for new development, by requiring each major site to provide a mix of commercial and housing plus a range of services, new public spaces, parks and community and arts facilities. This mix of uses is key to the vision of the Docklands SDZ.
Dublin City Council, as the designated Development Agency for the SDZ, has already commenced work on essential elements to the success of the Scheme. A new unit of Dublin City Council is now on the ground in Docklands delivering the SDZ and working with all key stakeholders and community leaders. A community audit has commenced, in relation to a new public realm strategy for the district and for preparatory designs for key new bridges.
