Glenveagh’s €60m Greystones sale, rising house prices, and McGill’s Irish hub

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

People look in the window of an estate agent in Dublin city showing sold properties. Irish property prices have proved remarkably resilient in the face of the impact on the economy of Covid-19. Photograph: Sam Boal/Photocall Ireland

People look in the window of an estate agent in Dublin city showing sold properties. Irish property prices have proved remarkably resilient in the face of the impact on the economy of Covid-19. Photograph: Sam Boal/Photocall Ireland

 

Glenveagh Properties is on course to secure more than €60 million from the sale of more than 100 apartments at its Marina Village scheme in Greystones, Co Wicklow, to the German investor Realis. Ronald Quinlan has the details.

Irish sports technology company Orreco has secured $3.6 million (€3 million) in a funding round led by True Ventures, an early investor in both Fitbit and Peloton. Charlie Taylor reports

The sale of Mount Auburn House on Killiney Hill Road in south Dublin is expected to see strong interest from a range of parties, with developers likely to vie with high-net-worth individuals and even embassies to secure ownership of the property. Offers are expected to comfortably exceed the €3.75 million mark, writes Ronald Quinlan.

In our Bottom Line column, Eoin Burke-Kennedy explains why Irish house prices have proved so resilient in the face of the Covid-19 pandemic.

Developer Shane Whelan’s Westridge Real Estate has secured the green light from Dublin City Council to proceed with the construction of a new co-living scheme on the site of Kiely’s in Donnybrook. Ronald Quinlan has the details of the development of this landmark property in south Dublin.

McGill & and Partners, a London-based insurance broker set up by former Aon group president Steve McGill two years ago, expects to handle $1 billion (€820 million) of premiums through its new Irish hub within the next five years, according to the head of the division. Joe Brennan has the details.

Jeffrey Yass, a co-founder of an international trading and technology group that employs more than 500 people in Dublin, is one of the largest political donors in the US and a major supporter of the Republican Party, writes Colm Keena.

ACG Aircraft Leasing Ireland Ltd, the Dublin-based subsidiary of Aviation Capital Group LLC, which has its headquarters in the US, has agreed to take the top two floors of the Lumen building on Dublin’s Upper Baggot Street. Ronald Quinlan has the story.

In an opinion piece in our commercial property section, Mervyn Ellis of BNP Paribas Real Estate, says Covid-19 highlights the urgent need for a review of our retail planning laws.

Stay up to date with all our business news: sign up to our business news alerts and our Business Today daily email news digest.