GRIGRI Club launches Ireland real estate chapter
The 1st club meeting focused on real estate investment within Dublin and the wealth of opportunities available for PRS.
March 22, 2018Real Estate
GRI Club formally launched its Ireland chapter on 22nd of March by hosting a private meeting focusing on real estate investment within Dublin and the wealth of opportunities available for PRS.
Moderated by Frank Dowling, Head of Real Estate, Ireland Strategic Investment Fund, the meeting allowed global investors a collegial style debate with the most senior developers and real estate funds active in Dublin with the likes of Olan Cremin (Avestus Capital Partners), Andrew Gunne (Chartered Land) Lorcain Egan (Starwood Capital) and Richard Ball (Hibernia Reit).
The discussion gave an insight into the current state of the debt and loan market and finding value in the current cycle before drilling down into Dublin PRS- on the verge of a boom set to rival London and Manchester in terms of potential capital chasing development opportunities.
Key Topics covered
The warm up discussions focused on investment appetite amongst the participants, where the opportunities can be found and everyone’s hopes and fears for the short-medium term. The room was optimistic across most asset classes, some cautious over retail in secondary locations. Questions were raised on investment strategies in the de-leveraging cycle and the sweep of institutional investors now settling in the market - from the UK, Germany and Middle East especially.
The headline discussion concentrated on the wealth of opportunities available in PRS in Dublin and how to address the overwhelming supply and demand issue for residential. Whilst it was felt that there were billions of capital to deploy, the debate centred on getting the right mix of affordable, mid-market and luxury products.
Coworking, Micro and Serviced Apartment products were explored, especially whether they could be built to cost and scale. Whilst Dublin was certainly on the verge of a PRS boom, it was felt more could be done at a local level through releasing land for development, building to cost in the right place and having a cohesive plan from government to attract long term investment into the sector.
Moderated by Frank Dowling, Head of Real Estate, Ireland Strategic Investment Fund, the meeting allowed global investors a collegial style debate with the most senior developers and real estate funds active in Dublin with the likes of Olan Cremin (Avestus Capital Partners), Andrew Gunne (Chartered Land) Lorcain Egan (Starwood Capital) and Richard Ball (Hibernia Reit).
The discussion gave an insight into the current state of the debt and loan market and finding value in the current cycle before drilling down into Dublin PRS- on the verge of a boom set to rival London and Manchester in terms of potential capital chasing development opportunities.
Key Topics covered
The warm up discussions focused on investment appetite amongst the participants, where the opportunities can be found and everyone’s hopes and fears for the short-medium term. The room was optimistic across most asset classes, some cautious over retail in secondary locations. Questions were raised on investment strategies in the de-leveraging cycle and the sweep of institutional investors now settling in the market - from the UK, Germany and Middle East especially.
The headline discussion concentrated on the wealth of opportunities available in PRS in Dublin and how to address the overwhelming supply and demand issue for residential. Whilst it was felt that there were billions of capital to deploy, the debate centred on getting the right mix of affordable, mid-market and luxury products.
Coworking, Micro and Serviced Apartment products were explored, especially whether they could be built to cost and scale. Whilst Dublin was certainly on the verge of a PRS boom, it was felt more could be done at a local level through releasing land for development, building to cost in the right place and having a cohesive plan from government to attract long term investment into the sector.