Full coverage: Property

In a major report, we investigate the vulture fund's 52 Irish companies to unveil the property deals, the profits and the tax bills. Using Ireland as a base for aggressive European distressed debt deals, it is also moving into property development in Dublin.

Covid-19 has revealed – rather than caused – trends in our society. It has highlighted and accelerated changes that were already happening. Chief among them is the slide away from central locations. And this has big implications for the property market.

Following on from multiple court cases against retail tenants, the chain of chicken eateries is the first high-profile hospitality operator to face legal action from commercial landlords.

Out of Nama, property developer Paddy Kelly has made a rare public appearance. He talks vulture funds, anti-repossession activists and how the diaspora can help the recovery. He also reveals his involvement in restoring two castles in Co Roscommon.

The period cut-stone building occupied by the bookseller in Galway’s central shopping district remained closed for 11 weeks during the Covid-19 lockdown. Its landlord, a French investment firm with a growing presence in Ireland, is now taking Eason to court just six months after completing a buy-and-leaseback deal.

While official sources imply that private market rents increased 22-fold between 1948 and 2018, new research we have conducted over the last number of years found it to be a 90-fold increase. The data also reveals startling new number on yields and house prices.

The Isle of Man-based company behind the Dublin retail complex is suing two more store occupants, New Look and Schuh, whose revenues have been hit by Covid-19 restrictions. The cases add to the long list of rent disputes in the retail sector.

In recent weeks, there has been a growing number of rental clashes between landlords and retailers. Now, along with the Irish jewellery chain Fields, Philip Green’s TopShop is being sued by a company linked to the Jervis Street Shopping Centre.

Changing working and consumption patterns will hit commercial property badly, while the lack of purchasing power for first time buyers will dampen the residential market. I have picked my way through the data, and the leading indicators are not good.

Corbalton Hall and its sprawling estate have been on the market for the past two years. A businessman with local ties has emerged as the highest bidder for the luxury residence.