Co-living scheme for Dublin, long-haul travel to rebound, and revenge of the underlings

Business Today: the best news, analysis and comment from The Irish Times business desk

The EU has moved to avoid ’short-term cliff-edge effects’ from the expiration of a temporary permit allowing European banks and fund managers to use UK clearing houses  that was due in June. Photograph: iStock

The EU has moved to avoid ’short-term cliff-edge effects’ from the expiration of a temporary permit allowing European banks and fund managers to use UK clearing houses that was due in June. Photograph: iStock

 

Co-living is set to come to Dublin’s Cork Street after a joint venture between Irish developer Grayling Properties and European private equity investor Crossroads Real Estate paid €27.5 million for a site in Dublin city centre with full planning permission for a major co-living scheme. Ronald Quinlan has the details.

The EU is planning to extend its temporary permit allowing European banks and fund managers to use UK clearing houses until June 2025, warding off a threat to financial market stability.

State-owned Shannon Group is planning to spend €4 million redeveloping properties at the free zone close to the midwestern airport, refurbishing two existing buildings to create more than 3,000sq m for offices and light engineering. Barry O’Halloran reports.

Barry also reports on predictions by Irish aircraft lessor Avolon that long-haul air travel could recover strongly this year, hitting 70 per cent of pre-Covid levels.

The landmark Temple House office building in Blackrock, south Dublin, has come to the market seeking €9.75 million.

Also in commercial property, the former office of celebrity solicitor Gerald Kean sells for €940,000, and M7 Real Estate pays almost €15 million for two office blocks in south Dublin.

And the resignation of high-flying banker António Horta-Osório from the chairmanship of Credit Suisse after a board investigation found he broke quarantine twice could be seen as “revenge of the rank and file”.

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