Acquisition hints at direction of new homes
Ivan Gaine and Ronan O’Driscoll of Sherry FitzGerald
News that Ronan O’Driscoll is to leave Savills to join Sherry FitzGerald as director of new homes marks an interesting industry development on two fronts. First, it’s quite the coup for Sherry Fitz given that O’Driscoll has been a stalwart of Savills’ new homes business for more than 20 years and more recently a board director. Savills has been forging ahead in the commercial sales space for some time now and most recently it has been bolstering its residential arm. O’Driscoll’s departure may come as something of a blow, particularly if he manages to bring any of the major new homes developers – with whom he has built close ties over the years – with him.
Second, the move would suggest Sherry Fitz is banking on a return of the new homes business after five years in the wilderness. Not before it’s time would be the view of those in areas of Dublin who are finding themselves priced out of the market due to lack of supply. The appointment comes at a time when a handful of developers have gone back on site to complete new houses and apartment schemes that had stalled. The Block understands that one long established developer is planning to re-open and complete three sites in Dublin in the coming months.
O’Driscoll will work closely with Ross McParland, chairman of Sherry FitzGerald new homes, and Ivan Gaine, head of new homes. It’s envisaged that along with working with the residential division, he will also work closely with DTZ Sherry FitzGerald, the commercial arm of the company.