HAP pays half a billion euro to landlords each year. We reveal its largest corporate recipients
The Housing Assistance Payment is one of the state’s largest subsidy schemes, yet the identity of its recipients has been a well-guarded secret. Data obtained through a freedom of information request lifts a corner of the veil.
27th Jun, 2022 - 9 min read
Who is Ardstone? Part 1: A decade of office deals from Dublin to Barcelona
Behind a leafy façade in Georgian Dublin, a small team has been instrumental in directing global institutional investors towards Irish property development. Based on hundreds of documents, site visits and insider information, this investigation tells Ardstone’s story.
21st Jun, 2022 - 14 min read
Who is Ardstone? Part 2: €2.5bn in assets, 7,300 homes and global capital’s gateway to Irish housing
When the housing crisis emerged, Ardstone Capital had an address book full of international investors and no baggage from the Irish property crash. In the past six years, it has discreetly funded every possible type of home in the country.
21st Jun, 2022 - 21 min read
A Galway planning dispute is heating up – and the Comers are on the hook for €11.4m
Galway developer Alber has planning permission for over 100 homes on a Comer site, but has yet to pay for it. The property is at the centre of parallel legal and rezoning clashes.
20th Jun, 2022 - 4 min read
Croí Cónaithe, developer profits, and the state’s decision to subsidise apartment construction
Some of those criticising the Croí Cónaithe scheme have been consistent in their suspicion developers are making large profits from building homes. The problem with this theory is that there is effectively no evidence for it.
1st Jun, 2022 - 7 min read
Property and profits: As Pret A Manger targets Ireland, who are the Irish tycoons behind its expansion here?
Gerard Loughran has accumulated sufficient profits with the high-end fast-food chain in the UK to support its expansion to Ireland. His local partner Ray McNamara has done the same here with Ann’s Bakery. And they share the same approach to commercial property.
13th Apr, 2022 - 3 min read
What the performance of Mike Ashley’s Irish operation says about retail – and retail property
Since the first Covid case was recorded in Ireland, shopping centre values have declined by 24%, with those on Grafton Street and Henry Street falling by 35% and 43%. Backing up the depressing outlook for retail property are the latest numbers from Mike Ashley’s network of Irish stores.