Latest news with #HookeMacDonald
Irish Times
09-07-2025
- Business
- Irish Times
The institutional investors we need have withdrawn from the Irish housing market
Latest figures from the CSO confirm that institutional funding of new apartment developments for the private rental market has collapsed due to the unfavourable conditions prevailing in the State for this sector. This funding has fallen from 15 per cent of new homes purchased in 2022 to 5.5 per cent in 2024, a fall of 63 per cent. The 5.5 per cent mainly related to transactions that took place in 2021 and 2022 that are just now being completed, so the figure of 5.5 per cent actually overstates the level of funding due to the lag in sale closures. The recently announced Government measures on rent pressure zones (RPZs), while helpful in some respects, mainly for tenants , fail to recognise the seriousness of the position or to remove the blockages to pension funds and institutional capital supporting housing supply. There were no new residential units purchased by institutional investors in either 2024 or 2025, marking a complete withdrawal of this cohort from the market. Sales activity has ceased, with no new transactions recorded to date, apart from some stabilised (existing and tenanted) stock. This stands in contrast to claims made by some commentators, and it is regrettable that certain analyses of the CSO housing data have been inaccurate and misleading. Ken MacDonald, managing director at Hooke & MacDonald While Ardstone Capital is currently finalising its acquisition of the Spencer Place scheme in Dublin's north docklands for €177 million, the development is already fully let, offering the investor immediate income and a stabilised yield. As such, it does not represent a new residential purchase in the conventional sense, nor does it reflect a reversal of the broader trend of institutional disengagement from the Irish housing market. READ MORE According to Hooke & MacDonald Research analysis of the latest CSO/Eurostat figures, the biggest movers in the 2024 figures showing the composition of purchasers of new homes are first-time buyers and the public sector category which includes the Land Development Agency (LDA), approved housing bodies (AHBs), local authorities and the Housing Agency; this latter cohort has now become the second biggest purchaser of new homes, at 27.5 per cent of the total, increasing from 22 per cent in 2022 and a 96 per cent increase from 14 per cent in 2018. Hooke & MacDonald Research has tracked the composition of purchasers of new homes in the Republic from 2015 to 2024. First-time buyers have consistently been the leading purchasing group. In the latest statistics released by the CSO, first-time buyers continue to lead the way and increased their percentage of new home purchases from 33 per cent in 2023 to 36.5 per cent in 2024. Other owner-occupiers constituted 22 per cent, down from 23 per cent in the previous year. The dramatic movement by private funders away from the Irish housing market as shown by these figures is very damaging for supply in the market and particularly for the private rented sector, which is already negatively impacting on the supply and cost of accommodation and which is on course to deteriorate further this year and in the coming years. Institutional entities/pension funds have been responsible for funding the construction of more than 20,000 apartments, mostly in Dublin, in the past eight years providing accommodation for approximately 50,000 people based on an estimated occupancy of 2.5 persons per property. If these had not been built the rental market would now be in a far worse position than it currently is in terms of supply – these properties would not have been built if it wasn't for these sources of capital. Added to these figures would be the substantial number of public-sector housing units funded by the institutions. The State can only fund less than half of the €20 billion-plus required annually for the funding offer a minimum of 50,000 new homes so it is imperative that conditions are created as a matter of urgency for international capital funding to re-enter the market and make up the difference in the funding shortfall. The damage done by the 2 per cent rent cap is now plain to see. [ Rents unlikely to come down for several years after reforms, Coalition told before agreeing overhaul Opens in new window ] Funding by the Government for the different typologies of housing needed in the public sector is an absolute necessity and must continue. It is such a pity that funding for the private sector is being impeded by measures preventing institutions from supporting the private rental sector housing market in Ireland. Ken MacDonald is managing director at Hooke & MacDonald
Irish Times
05-06-2025
- Business
- Irish Times
New energy-efficient homes in Navan, Co Meath from €415,000
Address : Robinrath, off Commons Road, Navan, Co Meath Price : €415,000 Agent : Hooke & MacDonald and T&J Gavigan View this property on Cairn Homes will release the first phase of its Robinrath scheme in Navan , Co Meath this Saturday, June 7th. A mix of energy-efficient three-bedroom homes (with two- and three-bedroom duplexes, and four-bedroom homes to launch later this year) will be available through joint selling agents Hooke & MacDonald and T&J Gavigan. Located off Commons Road, a 20-minute walk to Navan town centre, the site layout includes crescents that neatly loop around parks framed by mature native hedgerows. One of Ireland's two publicly listed housebuilders along with Glenveagh Properties, Cairn Homes, which built 2,593 new homes in Ireland last year, says the scheme was designed with a 'commitment to biodiversity' whereby many mature trees were retained coupled with new plantings 'in an effort to protect and restore local wildlife'. With a focus on green spaces, prospective owners will appreciate the rear gardens and planned playgrounds close to the town, where the rivers Boyne and Blackwater converge. Its location close to Robinrath Stream, a tributary of the river Boyne, is named after the ancient Irish term robin's rath or robin's fort, which is a ringfort from the medieval period. Situated about a 45-minute commute from Dublin, 35 minutes from Dublin Airport and a 20-minute trip from the Unesco World Heritage site of Newgrange , Robinrath is also close to the magical group of Neolithic passage tombs at Loughcrew. Spread over four undulating peaks that date back to 3,000 BC, it's a place where people gather at the spring and autumn equinoxes to greet the first rays of the sun. READ MORE The homes at Robinrath qualify for the State's Help to Buy scheme – where buyers can get up to €30,000 towards a deposit – and the First Home scheme , in addition to green mortgages which offer lower interest rates to those buying a more energy-efficient home. The developer's website has downloadable booklets on all three schemes, outlining in detail how and if potential purchasers qualify for these government initiatives. [ Look inside: Superbly designed house and mews with unparalleled views over Killiney Bay for €7.25m Opens in new window ] This first release this weekend will see 20 three-bedroom houses – which will be ready to occupy by September 2025 – launched to the market, with prices starting from €415,000. The A2-rated houses, situated a short walk from Navan Educate Together School, feature air-to-water heat pumps, LED lighting and high levels of insulation coupled with high ceilings and lots of natural light. The three-bedroom midterrace units (106sq m/1,138sq ft) have a separate livingroom to the front, with the kitchen/dining space that opens to the garden located to the rear. Livingroom Upstairs there are three bedrooms; two doubles, one of which is en suite with built-in Shaker-style wardrobes, and a good-sized single bedroom. Main bedroom Double bedroom Single bedroom The end-of-terrace three-bedroom units (105sq m/1,130sq ft) have slightly larger living spaces due to their configuration and a similar layout as the midterrace upstairs, while the semidetached three-bedroom houses, are larger again measuring 114sq m (1,230sq ft). Robinrath All the houses feature separate utility rooms and downstairs loos. In each home large glazed patio doors lead to a private rear garden that is seeded with lawn with paved patios and external taps. Rear garden Launching this weekend, the 20 homes will be available through joint agents Hooke & MacDonald and T&J Gavigan.
Irish Times
15-05-2025
- Business
- Irish Times
Enniskerry scheme with view of the Sugar Loaf: A-rated houses from €775,000
Address : Silver Vale, Enniskerry Village, Co Wicklow Price : €775,000 Agent : Hooke & MacDonald View this property on Silver Vale is a new development of 84 A-rated houses on the Cookstown Road just outside the picturesque village of Enniskerry in Co Wicklow . The developers – Westin Homes and Dowdstown Developments – have paid a lot of attention to detail in building these spacious three-, four- and five-bedroom detached and semidetached homes, but one particular detail really stands out: the Great Sugar Loaf mountain, which rises on the skyline to the south. It can be seen from many of the bedrooms in the development – a nice view to wake up to in the morning. The houses at Silver Vale are generously proportioned, ranging from 119sq m (1,281sq ft) for the three-bed semidetached houses to 190sq m (2,042sq ft) for the five-bed detached houses. The four-bed semidetached houses measure 142sq m (1,528sq ft) and the four-bed detached houses are 173sq m (1,862sq ft). All are built on a large site on the Cookstown Road, with five acres of green spaces to allow the development to breathe. Each house has its own driveway for parking, and there is no shortage of parking spaces on the development. The houses are built in masonry block and concrete, with yellow bricks on the exteriors, and have high levels of insulation, thermal performance and airtightness. Windows, from Munster Joinery, are triple-glazed, low-emission Alu-clad, reflecting heat back into the rooms during the winter months and keeping the rooms cool during the summer. The houses have air-to-water heat pumps with multizone controls and thermostatically controlled radiators. READ MORE Silver Vale Kitchen/diningroom Kitchen/diningroom Kitchen/diningroom Livingroom Bedroom The three-bed semidetached houses are priced from €775,000, the four-bed semidetached houses from €950,000, the four-bed detached houses from €1.275 million and the five-bed detached houses from €1.375 million. All boast either an A2 or A3 energy rating and are for sale through Hooke & MacDonald. The first phase of Silver Vale is launching today. Justin Dunne, founder of Dowdstown Developments, and his son, Austin, have created stylish, comfortable homes in this scenic location. The internal doors are attractively detailed, and the wide skirting boards and hand-finished architraves give a sense of solidity. All the kitchens have been hand-painted by Cawleys Furniture and fitted with quartz worktops, while the bathrooms and en suites have sanitary ware by Villeroy & Boch. Rather than going for a trendy, ultra-modern look, the Dunnes have kept the decor simple and classic, fitting elegant brass and chrome fittings on the doors, cupboards and wardrobes, laying 18mm herringbone engineered wood floors in the four- and five-beds, with straight-plank in the three-beds. Interior walls are painted in Dulux's warm and neutral Cotton Bloom shade. Inside, the houses are designed to work well for busy, growing families, with well-proportioned living spaces, ample ceiling heights, decent-sized double bedrooms and plenty of storage, cupboard and wardrobe spaces. There's also a large attic space that is ready for conversion, with steel support beams built in and the skeletal structure already in place. Should new owners decide to convert, they would need to add another set of stairs from the landing, put in the walls, ceiling and floor, and add in a Velux roof lights. The resulting space would be big enough for a large playroom, teenagers' den, gym or yoga room, with ample headroom. The back gardens of Silver Vale have been landscaped by Jane McCorkell, and have large patio areas, plus a bespoke shed made by Willow Garden Buildings. Enniskerry is a lovely village nestling by the river Dargle, with charming cafes and restaurants, and it's easy to walk in an out of the village via the scenic Beech Walk. The beautiful Powerscourt Estate, House and Gardens are just around the corner from Silver Vale, and the development is on the doorstep of the Wicklow Mountains, a haven for hillwalkers, with waymarked walks in Glendalough and Lugnaquilla. Recreational facilities for children are abundant, from Kilruddery House to Clara Lara Funpark. Schools in the area include Powerscourt, St Mary's and St Gerard's national schools, and St Gerard's, Presentation College Bray and Loreto secondary schools. For commuting, the M11 is just down at the bottom of Cookstown Avenue, and the 44 bus route brings you to the city centre in just over an hour. The 185 brings you to Bray, where you can take the Dart to Dublin city centre.
Irish Times
14-05-2025
- Business
- Irish Times
Cosgraves seeking €1.5m for Honeypark residential development site
With Honeypark, the large-scale residential scheme built by Cosgrave Property Group on the site of the former Dún Laoghaire Golf Club lands now completed, the Cosgrave family has instructed agent Hooke & MacDonald to find a buyer for a 0.24-hectare (0.6-acre) site within the development. The holding, located in a central position within the scheme, is guiding at a price of €1.5 million and has the potential for the provision of 32 apartments and a creche, subject to planning permission. A feasibility study prepared in advance of this sale by MCORM Architects suggests this proposed development could comprise a mix of 12 one-bedroom, 12 two-bedroom and eight three-bedroom apartments, with 26 surface car-parking spaces. The site is zoned Objective A under the Dún Laoghaire-Rathdown County Development Plan 2022–2028, supporting residential development. It overlooks a landscaped park and duck pond and is within walking distance of the Park Pointe neighbourhood centre, which includes Tesco Express, a pharmacy, cafe and medical services. The wider Honeypark development is almost equidistant from Dún Laoghaire's town centre (1.9km) and the N11 (1.8km). The scheme sits about 5km from junction 15 (Cornelscourt) on the M50 motorway and about 10km south of Dublin city centre. Glenageary, Monkstown, Salthill and Dún Laoghaire Dart stations are all within 2.6km, offering direct access to the city centre and the wider regional rail network. Several Dublin Bus routes serve the area. READ MORE Conor Steen of Hooke & MacDonald says: 'This site offers excellent development potential within a proven residential setting.'
