DOCSLIB.ORG

Our Outlook Is Simple We Inform Your Future

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Our Outlook Is Simple We Inform Your Future OUR OUTLOOK IS SIMPLE WE INFORM YOUR FUTURE 2019 Contents LISNEY OUTLOOK 2019 00 01 02 INTRO RESIDENTIAL DEVELOPMENT & NEW HOMES 03 04 05 INVESTMENT OFFICES INDUSTRIAL 06 07 08 LICENSED RETAIL CORK PREMISES 09 10 11 BELFAST LISNEY IN LISNEY IN PICTURES NUMBERS Simply informing We look forward to working with you in 2019 to find, create and secure value 4 | LISNEY OUTLOOK 2019 your future AS THE YEAR BEGINS THERE IS A NERVOUSNESS IN SOME MARKETS WITH THE ‘KNOWN UNKNOWN’ OF BREXIT LOOMING LARGE AT THE END OF THE FIRST QUARTER The bull stock market ran out of and quality service that they need steam in the second half of 2018. That to make good decisions. In 2018 type of inflexion often points capital we acquired Morrissey’s, the market to perceived safer havens that include leaders in licensed and leisure property, property. Irish property has been on and have integrated them into Lisney an upward trajectory for six years. The to give our clients a greater range and residential market while still suffering depth of service. We will develop this from an undersupply has paused for further along with some other service breath in the middle and upper end lines in 2019. of the market which we expect to We will open a new residential office in move ahead again in 2019. Market Dalkey late this quarter of 2019 to better interventions in the lending market serve one of our key markets. Working need to be addressed to allow alongside the traditional network of markets to function more normally. staff in offices, technology will play a While none of us know how Brexit greater role in property this year with will play out, we expect that Ireland an acceptance of online sales platforms will be a beneficiary in the medium to from buyers and sellers. As millennials long term, strengthening our claim as move into their property trading years, the most business friendly economy both personally and professionally, with a well-educated workforce that in greater numbers we expect this to sits strategically between the key accelerate. At Lisney our independence economic blocks on either side of the allows us to be nimble and move quickly. Atlantic. We do expect choppy waters in the short term while supply chains are reorganised and the rule book DUNCAN LYSTER becomes clear for people, products Managing Director and services. We expect that activity will be down on 2018 levels as the cloud January 2019 of uncertainty that Brexit is clears later in 2019. At Lisney we are better placed to serve our clients in Irish property markets than ever before. We have invested in greater resources to provide our clients with access to the information, advice LISNEY OUTLOOK 2019 | 5 01 RESIDENTIAL This was certainly the necessary and should ultimately IS AFFORDABILITY question on our agents’ minds have a stabilising effect on the in 2018. After six years of very market. Sales were somewhat sluggish CATCHING UP throughout 2018, as buyers and sellers strong annual growth, it was tried to understand the market ON THE DUBLIN inevitable that affordability dynamics. However, we expect 2019 RESIDENTIAL was going to become an issue to be a more active year with greater at some point. acceptance of the need for prices to more closely relate to affordability MARKET? It became apparent in 2018 that the market was beginning to cool and a correction was gradually taking place. Lisney typically acts in FINANCE the mid- to upper-end of the market and as such our views do not always The overall nationwide number of fully represent activity across the mortgages drawn down increased in entire of Dublin. However in 2018, the year to the end of September; up similar conditions affected most almost 15% compared to the 12 months parts of the second-hand market. previous. Yet in the final months of 2018, it appeared that banks had reached their 2018 was therefore a year where lending quotas, particularly in terms property prices began to slowly of the exemptions permitted under adjust. This correction was the Central Bank’s rules. It seemed 6 | LISNEY OUTLOOK 2019 to us that this resulted in a slow-down SUPPLY in the market in October and November with open viewing numbers down and Supply continued to be an influencing potential purchasers showing little factor in 2018. Encouragingly, the sign of urgency to get sales agreed number of both new and second-hand quickly. In Dublin’s mid-market, the properties for sale increased throughout general absence of bridging finance the year. The latter was up about 26% remains an issue for those wishing to in December compared to 12 move home. This will continue to be months previous. a factor for the foreseeable future. It In last years’ outlook, we discussed has resulted in a Catch 22 situation how increased new home supply for most buyers looking to either would influence the prices achieved trade up or trade down. for second-hand properties in certain Potential movers are not able to locations in 2018. And this has certainly purchase their next home until they sell transpired, particularly for second hand their existing one and are most often stock within close proximity of large reluctant to sell until they have secured new homes schemes where buyers the property they wish to buy. If they have benefited from greater choice. were to sell in the meantime, entering As a proportion of all residential the rental market brings further properties sold across Dublin, new difficulties in terms of high rents and homes are now making up a much lack of supply. It is obvious that there greater percentage compared to the is space in the market for a financial period between 2011 and 2015. This will product, such as bridging finance, to continue to be the case in 2019. For assist those wishing to sell their family Dublin overall, in the five years up home and buy a property more suitable to the end of 2015, the annual average to their current needs. This would free volume of sales was 10% new homes up the market considerably and lead to against 90% second-hand homes. In 2017 a further increase in family homes for new homes increased to 21.8% and for sale, which would be a positive move the first nine months of 2018 the figure towards a more normalised market. was 26.5%. Naturally, those requiring a mortgage New homes are being viewed by many do not account for the entire market. as a better option given the generally Cash purchasers made up approximately better energy efficiency ratings, turnkey 27% of the market nationally in the first condition and for first-time-buyers, nine months of 2018. This compares to the tax incentive on offer through the 47% in 2017. While official figures are help-to-buy scheme. This trend will not available for Dublin, an analysis of continue into 2019 Lisney sales show that 27% were cash purchasers in 2018. It is likely cash buyers will remain at similar levels in 2019, Richmond, 39 Castlepark Road, Dalkey which is more in line with a normally functioning market. RESIDENTIAL SALES The Central Bank’s not put in place to control property macroprudential policy prices, it was inevitable that this on mortgage lending was would happen, which it did in 2018. introduced in 2015 and is Dublin prices overall have risen by aimed at enhancing the 27% over that three-and-a-half-years 27% since the policy became live and resilience of both borrowers RISE IN DUBLIN in 2018 the gap between what most and the banking sector. buyers could afford to pay and RESIDENTIAL The measures are reviewed asking prices was often out of kilter. PRICES SINCE THE annually in November and in 2018, they remained unchanged as it was INTRODUCTION viewed that they were achieving their objectives. This must be seen as OF THE CENTRAL a positive because continually making BANK RULES changes can cause disruption to the market. Although the measures were LISNEY OUTLOOK 2019 | 7 Clonmore, Shrewsbury Road, in making their decision to purchase place. Consequently, we believe a higher the most expensive house sold in Dublin. However, if there is an proportion of homes coming to the in Dublin in 2018 at €8.1m increase in high profile financial services market in 2019 will be priced to reflect and legal firms relocating to Dublin this market conditions. This should result year, or even in the coming years, then in an increased number of sales. the number of buyers at the upper end The opening months of the year could increase noticeably and have a UPPER-END will once again be the most active positive impact as credit will be more readily At the upper-end of the market (homes on demand available. There will continue to be priced over €1.5m), there is less reliance strong demand across all aspects of on bank lending. At this price level, the the market, however, critically only at biggest feature influencing demand the appropriate market level. in 2018 was sentiment and global 2019 MARKET DYNAMICS uncertainty, particularly in the second Residential stock that is priced ahead Accepting that there are challenges in half of the year. This will continue into of prevailing market conditions will understanding what a no-deal Brexit 2019 as Brexit looms. Indigenous buyers remain difficult to sell. Price growth would look like for the Irish economy will continue to represent the strongest will be in low single digit growth and the knock-on effect for the demand, reflecting the strong Irish and generally track inflation.
Load more

Recommended publications
  • Belfast Investment Guide
    SPONSORSHIP Cannes, France 12th-14th March 2019 Investment Guide 2020 @BelfastMIPIM InvestInBelfast.com/MIPIM 3 Contents Welcome 3 Welcome Belfast at a Glance 4 Suzanne Wylie Chief Executive, 6 Reasons to Invest in Belfast Belfast City Council Key Sectors Belfast is a city of exceptional possibilities. Our city has has seen over 2.5 million sq ft of floor space of office 7 seen an impressive trajectory of development across accommodation completed or under construction; almost sectors ranging from hotels, office accommodation, 5,000 purpose built student accommodation beds have Belfast Region City Deal cultural venues and visitor experiences, education space been completed or under construction; and to support 10 and student and residential accommodation. the growing tourism market, 1,500 hotel beds have been completed; and approximately 5,000 residential units Northern Ireland Real Estate Market We’re committed to taking Belfast to the next level. for the city centre are at various stages in the planning 12 The £850 million Belfast Region City Deal will see process. investment in innovation and digital, tourism and Opportunities regeneration, infrastructure and employability and skills Additionally, there are over 40 acres of major mixed-use 14 across 22 projects. These projects will be underpinned regeneration schemes currently in progress, including by investment in employability and skills which will Weavers Cross (a major transport-led regeneration accelerate inclusive economic growth, significantly project) and significant waterfront developments. increase GVA and create up to 20,000 new and better jobs across the region. As a city with unrivalled growth potential, we look towards an exciting future for all in which to live, work, learn, play Strong collaborative leadership is key - and we’re leading and invest.
    [Show full text]
  • (Public Pack)Agenda Document for Council, 07/01/2019 18:00
    Public Document Pack BELFAST CITY COUNCIL SUMMONS TO ATTEND THE MONTHLY MEETING OF THE COUNCIL TO: THE LORD MAYOR, ALDERMEN AND THE COUNCILLORS OF BELFAST CITY COUNCIL Notice is hereby given that the monthly meeting of the Council will be held in the Council Chamber, City Hall, Belfast on Monday, 7th January, 2019 at 6.00 p.m., for the transaction of the following business: 1. Summons 2. Apologies 3. Declarations of Interest 4. Minutes of the Council (Pages 1 - 14) a) Amendment to Standing Orders To affirm the Council’s decision of 3rd December to amend Standing Order 37(d) to give effect to the Licensing Committee having delegated authority to determine applications under the Houses in Multiple Occupation Act (Northern Ireland) 2016. 5. Official Announcements 6. Request to Address the Council To consider a request from Mr. Conor Shields, Save CQ Campaign, to address the Council in relation to the motion on Tribeca Belfast being proposed by Councillor Reynolds. 7. Strategic Policy and Resources Committee (Pages 15 - 66) 8. People and Communities Committee (Pages 67 - 114) 9. City Growth and Regeneration Committee (Pages 115 - 162) 10. Licensing Committee (Pages 163 - 174) 11. Planning Committee (Pages 175 - 200) 12. Brexit Committee (Pages 201 - 206) 13. Notices of Motion a) Inter-Generational Loneliness Proposed by Councillor Mullan, Seconded by Alderman Spence, “This Council notes with concern the impact that inter-generational loneliness and social isolation is having across the City. The Council recognises the good work already being done in the Council to address these problems but acknowledges that more needs to be done.
    [Show full text]
  • Development Management Officer Report Committee Application
    Development Management Officer Report Committee Application Summary Committee Meeting Date: 21 January 2020 Application ID: LA04/2017/2341/O Proposal: Location: Application for outline planning permission for Land Bounded by Royal Avenue, York Street demolition, redevelopment and part change of and Church Street to the North; North Street to use to create a mixed use development the west; Rosemary Street to the south and comprising retail, offices, cafe/restaurant, High Street to the south; and Donegall Street to residential, hotel, cultural/community space, the east. The site is located approximately parking, servicing, access and circulation 300m west of Laganside Bus Station, 300m arrangements, the creation of new streets, the northeast of City Hall and 900m northwest of configuration of Writers Square, public realm Central Train Station. works, landscaping and associated site and road works. The proposal includes works to alter listed buildings, restoration of retained listed buildings and facades, and partial demolition of North Street Arcade, retaining its facades. Details of the retained elements of the Listed Braddells building, Former Assembly Rooms and North Street Arcade facades are provided along with the layout of the new Arcade. Referral Route: Major Application Recommendation: Approval subject to conditions and completion of a Section 76 planning agreement. Applicant Name and Address: Agent Name and Address: PG Ltd Savills 49 Berkeley Square Embassy House London Queens Avenue W1J5AZ Bristol BS8 1SB Executive Summary: Consideration of this planning application follows a pre-determination hearing held by the Planning Committee on 16 December 2019. The main issues to be considered in the assessment of this application are set out below.
    [Show full text]
  • Midsummer Retail Report 2019
    Midsummer Retail Report 2019 IS THIS THE END OF EXECUTIVE RETAIL SHOPPING WITH REGIONAL THE MARKET MONEY THE GOLDEN AGE OF KNOWLEDGE FOOD CONTACTS SUMMARY REIMAGINED A CONSCIENCE UPDATES ONLINE RETAILING? < > EXECUTIVE SUMMARY After an unprecedented year of turmoil, the UK retail sector and the property market that it supports is having to reinvent itself. IS THIS THE END OF EXECUTIVE RETAIL SHOPPING WITH REGIONAL THE MARKET MONEY THE GOLDEN AGE OF KNOWLEDGE FOOD CONTACTS SUMMARY REIMAGINED A CONSCIENCE UPDATES ONLINE RETAILING? < > EXECUTIVE SUMMARY OUR LATEST MIDSUMMER KEY FINDINGS RETAIL REPORT LOOKS AT ● The ‘Golden Age’ of online retailing is coming to an end. ● Major retail development can no longer play the kind Online retailers will be increasingly compelled to engage of central role in regeneration that it has for the past THE CHANGES IN STRATEGIC with physical shopping environments to stay competitive. 50 years. This poses the question as to what will become the economic focal point of urban environments. DIRECTION THAT THE SECTOR ● At £1,868 per person, the UK retail ecommerce expenditure per capita is higher than in any other G20 market, with ● The Government needs to do more to support the Retail WILL HAVE TO FACE IN ORDER both online advertising expenditure and internet retail Industry which employs 10% of the UK workforce and TO REMAIN RELEVANT expenditure almost trebling since 2010. generates £400bn of sales annually. ● Environmental concerns over the impact of online shopping ● The war on plastic, the rise of veganism and growing AND VIABLE. delivery may eventually lead to the introduction of a opposition to the waste incurred by ‘fast fashion’ are ‘suburban congestion charge’.
    [Show full text]
  • Belfast Report October 2019
    Belfast Report October 2019 Max Thorne, Narup Chana, Thomas Domballe, Kat Stenson, Laura Harris, Bryony Hutchinson and Vikkie Ware MRP GROUP 11-15 High 1Street, Marlow, SL7 1AU Contents Executive Summary 3 Belfast Profile 3 Economic Overview 4 Developments 6 Transport 8 Leisure Overview 9 Tourism 10 Supply of Rooms 11 Annual Occupancy Room Figures 11 Current Hospitality Market 12 The Team 13 2 Executive Summary Belfast is a cosmopolitan capital city with a successful tourist industry and thriving business district that has seen worldwide attention. Recent feats that have garnered attention include the production of Game of Thrones and the Titanic Belfast. Due to the exposure, many businesses have invested in the city after realising the low cost of office space and opportunity’s for innovation. Belfast Profile Belfast is the capital of Northern Ireland and played a vital role in the early 19th century as a major port which then was joined by shipbuilding. As of 2017, Belfast had a city population of over 340k and a wider regional population of over 1m. The city has a young population, with 43% of the population under the age of 30. A city attracts a young population as a result of high quality, affordable housing, a good quality of life and availability of jobs. Belfast has all of these assets, and the significant investment in the city will ensure that the population and economy will grow. In 2018, there were 23 new company investments which created over 1k new jobs and 80% of new investors reinvested in the region. 3 Economic Overview Belfast is a key driver in Northern Ireland’s economy and the second fastest knowledge economy region in the UK, demonstrating the city’s importance as a business destination.
    [Show full text]
  • Belfast Crane Survey 2020 Contents
    Ready to accelerate? Belfast Crane Survey 2020 Contents Foreword 01 Development snapshot 02 Key findings 03 Residential 04 Office 10 Student, education and research 16 Hotel, retail and leisure 20 Development map 28 Endnotes 30 Contacts 31 hen? here? hat? Data for the Crane Survey was The City Core, Waterfront, Titanic Developers building new schemes or recorded between 11 January 2019 and Quarter, Transport Hub, Inner North, undertaking significant refurbishments 13 December 2019. Linen Quarter and Southern Fringe. exceeding any of the following sizes: office – 10,000 sq ft; retail and leisure 10,000 sq ft; residential property – 25 units; education, healthcare and research – 10,000 sq ft; hotel – 35 rooms. Titanic Quarter hy? Inner North A report that measures the volume of development taking place across central Belfast and its impact. Property types include residential, office, leisure, hotels, retail, student accommodation, education and research facilities, and healthcare. City Core Waterfront How? Research for this report was undertaken by Deloitte’s Northern Transport Hub Ireland team, based in Belfast. The Linen Quarter Deloitte Real Estate team have also been closely involved in the development of Belfast over recent years. In addition to our in-house knowledge and field research we have Southern used a variety of sources to collate and Fringe validate our research. These sources include the Northern Ireland Planning Portal, local media and trade publications, and construction and development industry contacts. Ready to accelerate? | Belfast Crane Survey 2020 Foreword Belfast remains open for business despite a year filled with uncertainty. Residential development within the city centre continues to be a hot topic of debate – mainly because although many stakeholders want it to happen, progress is slow.
    [Show full text]
  • Recent Planning Applications and Business Development Proposals – Belfast City Centre
    Recent Planning Applications and Business Development Proposals – Belfast City Centre A-Z by street Location Proposal Image Abercorn Basin Use: Residential Concept Titanic Quarter Units: 253 Abercorn The Abercorn Tower was proposed on land to the north of Tower Abercorn Basin as part of the Titanic Quarter masterplan. The masterplan proposes a building of up to 30-storeys comprising approximately 253no. apartments. Planning Status: Approved Project Status Proposed Academy Use: Residential Concept Street Units: 90 81-87 81-87 Academy Street & 2-6 Exchange Street comprises a surface carpark and a former warehouse building built in Planning the 1950s and refurbished in 1991 by Lyons Architects to Status: form a showroom and office space. Approved Lacuna Academy Street Ltd submitted a planning Project Status: application in December 2017 proposing to develop a 19 Proposed storey residential building comprising 105 units (42no. one bed and 63no. two bed) and ground floor café unit. Start Date: 2019 An amended proposal was submitted in August 2018 proposing a 16 storey residential building comprising 90 Completion: units (30no.one bed and 60no. two bed) and ground floor 2021 café unit. The amended proposal also involves public realm improvements to the surrounding streets. The ‘build to rent’ scheme is designed by Feilden Clegg Bradley Studios and it is expected that Five Nine Living will manage the building. Manson Architects have been appointed to this project by Lacuna Academy Street Ltd and Watkin Jones Group. The application was recommended approval by Belfast Planning Committee in October 2018 and April 2019. Page 1 of 33 Airport Road Use: Other West A proposed c£15m cruise ship facility at lands known as Cruise Ship D3, Airport Road West, Belfast.
    [Show full text]
  • JBSC 2019 Proceedings DEF.Pdf
    Delft University of Technology Architecture and Democracy 1965-1989 Urban Renewal, Populism and the Welfare State van den Heuvel, Dirk; Monteiro de Jesus, Soscha; Hwang, Sun Ah Publication date 2019 Document Version Final published version Citation (APA) van den Heuvel, D., Monteiro de Jesus, S., & Hwang, S. A. (Eds.) (2019). Architecture and Democracy 1965-1989: Urban Renewal, Populism and the Welfare State. TU Delft and Het Nieuwe Instituut. Important note To cite this publication, please use the final published version (if applicable). Please check the document version above. Copyright Other than for strictly personal use, it is not permitted to download, forward or distribute the text or part of it, without the consent of the author(s) and/or copyright holder(s), unless the work is under an open content license such as Creative Commons. Takedown policy Please contact us and provide details if you believe this document breaches copyrights. We will remove access to the work immediately and investigate your claim. This work is downloaded from Delft University of Technology. For technical reasons the number of authors shown on this cover page is limited to a maximum of 10. Jaap Bakema Study Centre ARCHITECTURE AND DEMOCRACY 1965–1989: Urban Renewal, Populism and the Welfare State Sixth Annual Conference November 2019 Architecture and Democracy 1965–1989: Urban Renewal, Populism and the Welfare State Introduction 7 Ideologies and Politics 9 Ambiguities and contestations in and of the welfare state From Le Droit à la Ville to Rechte Räume. Legacies and legends of the Movement for the Reconstruction 11 of the European City Isabelle Doucet (Chalmers University of Technology), Janina Gosseye (ETH Zürich) and Anne Kockelkorn (ETH Zürich) Political Postmodernism.
    [Show full text]
  • Belfast City Centre Asset Intelligence Analysis: Executive Summary
    Belfast City Centre Asset Intelligence Analysis: Executive Summary January 2020 Introduction Belfast City Council (BCC) are actively working to facilitate economic growth in Belfast. In recent years, the city has seen significant levels of investment and development, with major schemes still to come, including Tribeca Belfast (former Royal Exchange), the new Transport Hub and the redevelopment of the Belfast Waterside (formerly Sirocco). The activity is being undertaken in the context of the ambitious goals set out in Belfast’s community plan, The Belfast Agenda, the Local Development Plan (LDP) and the Belfast City Centre Regeneration and Investment Strategy (2015). Pragma have been appointed to provide market intelligence, identifying opportunities and challenges within the city’s retail offer. This analysis aims to assess a variety of short and long-term challenges to the retail and leisure sector in the city, helping the Council and its partners across the city shape future interventions and initiatives to respond to this fast-changing environment. To inform its analysis, Pragma has carried out research to: Establish Belfast’s existing catchment and demographics Benchmark Belfast against locations with a similar market size and geographic dynamic Examine current performance and identify key characteristics of zones within the city centre Identify opportunities for future growth, including quantification of the Trading Gap Understand the future trends affecting the retail industry and identify key opportunities for Belfast Provide recommendations as to how Belfast can best future-proof itself against forthcoming challenges in the retail market. 2 | 14 PRAGMA CONSULTING LTD. Summary of Findings PRAGMA CONSULTING LTD. Executive Summary Belfast City Centre is currently experiencing significant levels of development and investment across a range of sectors, with a number of major schemes set to come forward in the years ahead.
    [Show full text]
  • 2018-Q4-RESEARCH.Pdf
    Quarter 4, 2018 The Market in Numbers Investment 4 m £165 £165 million of investment Q transactions during 2018 & 2019 OUTLOOK THE Office LISNEY BELFAST COMMERCIAL sq ft PROPERTY 885k Annual take up throughout Belfast REPORT City Centre in 2018 Retail Prime Retail 10.2% Vacancy Belfast prime retail vacancy up 1.0% to 10.2% Industrial 2m+sq ft The Difference Annual take in 2018 Investment After a resilient summer, dominated by high Investment Volumes, Q4 2017 - Q4 2018 profile office investment quarter 4 saw £100m+ of new product come to market, much of 140m which was focused on the office sector with 120m vendors buoyed by a strong performance over the Overview 100m preceding months. 80m 80m 70m 60m 55m Million £ (Sterling) 40m 30m Q4 Volumes were down significantly to £30m 20m 10m with the largest transaction of the quarter being the sale of Bow Street Mall in Lisburn Q4 Q1 Q2 Q3 Q4 2017 2018 2018 2018 2018 to a private Irish investor for £12.25. These transactions bring our annual volumes to £165m which is down from the £305m traded in 2017. Activity However if we take out the single largest transaction of 2017, being the £123m sale of Castlecourt then the drop is much less pronounced, though still down on our 5 year average of £300m which is unsurprising in the current macro environment. NI investment volumes are traditionally dominated by retail and the sector, as a result, has been particularly hit by cost price inflation and tenant defaults over the last 12 months. Northern Ireland therefore, like the rest of the UK, has seen investment volumes and investor appetite drop off, especially outside of prime pitches.
    [Show full text]
  • 1 Tribeca Belfast and the On-Screen Regeneration of Northern Ireland Stephen Baker Lecturer in Film and Television Studies at Ul
    Tribeca Belfast and the on-screen regeneration of Northern Ireland Stephen Baker Lecturer in Film and Television Studies at Ulster University. Co-author with Greg McLaughlin of The Propaganda of Peace: The Role of Media and Culture in the Northern Ireland Peace Process (Intellect Books, 2010) and The British Media and Bloody Sunday (Intellect Books 2015) Abstract This paper looks at media representations of the projected regeneration of Northern Ireland, paying particular attention to a recent promotional film made to elicit support for the redevelopment of a part of Belfast’s city centre. Commissioned by Castlebrooke Investments, ‘Tribeca Belfast’ offers a future prospectus of the city that is as superficial as it is bland. It is, however, illustrative of two influential ideas and strategies that took flight at the end of the Cold War and the ‘triumph of capitalism’. One seeks peace through the application of neoliberal nostrums; the other combines brand theory with state-craft in pursuit of global competitiveness. Both propose models of citizenship that are politically benign, either preferring middle class solipsism or demanding brand loyalty. In Castlebrooke’s projection of a future Belfast, this translates into a city peopled by a mobile professional class, waited upon and entertained by servile locals. But such a sterile vision is inimical to building peace and political progress because it underestimates and downplays the significance of marginalised groups who through their activism and expressions of solidarity can lay better claim to the ‘heart and soul’ of Belfast, evoked by Castlebrooke. 1 Introduction With the signing of the Good Friday Agreement in 1998, the erstwhile troubled province of Northern Ireland secured itself a reputation as an international ‘good news story’, achieving a political settlement after 30 years of bloody civil conflict.
    [Show full text]
  • Outlook 2020 Introduction 01 Residential 02 01 Case Study: Residential Tenancies (Amendment) Act 2019 06 Development Land 08 02 & New Homes Case Study: Nzeb 11
    OUTLOOK 2020 INTRODUCTION 01 RESIDENTIAL 02 01 CASE STUDY: RESIDENTIAL TENANCIES (AMENDMENT) ACT 2019 06 DEVELOPMENT LAND 08 02 & NEW HOMES CASE STUDY: NZEB 11 INVESTMENT 14 03 CASE STUDY: RENT REVIEWS 18 CASE STUDY: SUSTAINABILITY 20 04 OFFICES 22 05 INDUSTRIAL 30 06 RETAIL 34 CONTENTS PRS 38 07 CO-LIVING 40 STUDENT ACCOMMODATION 42 08 RETIREMENT LIVING 44 09 LICENCED & LEISURE 48 10 CORK 52 11 BELFAST 58 THE TEAM 64 CONTACT US 66 It should be noted that all 2019 year-end figures are estimates as final information was not yet available when going to print in mid-December. All final year-end figures will be included in Lisney’s Q4 2019 Sector Reports, published mid-January 2020. DUNCAN LYSTER Managing Director ‘‘ OUR MARKET KNOWLEDGE IS POWER.” AS WE ENTER 2020, IN WHAT CAN BE DESCRIBED AS INTERESTING TIMES, WE SEE MANY MACRO RISKS AND SOME OPPORTUNITIES. As we enter 2020 in what can be described as interesting times we see many macro risks and some opportunities. We are here to provide our clients with clear thinking and advice. As the Managing Director of Lisney, I have the pleasure to work with the best clients and colleagues I could hope to. We are deeply proud of our independent, all-island, Irish heritage and believe we reflect modern Ireland’s open, inclusive and flexible culture. We stay true to ourselves, our clients and our partners. In these fast-moving times, we are open to new ideas; innovation excites us. In a world driven more and more by data, we hold research at the very core of what we do.
    [Show full text]