IT’S NOT a great time to become a property manager in Ireland, with commercial rents down more than 50 per cent and a new threat emerging from the incoming government that it will allow all rents to be reviewed this year.

The challenge is unlikely deter Den Dennehy, senior property manager with F&C Reit (formerly Friends First) who was named yesterday as head of property in Ireland.

The company has an interesting property portfolio here including several buildings on Grafton Street and Henry Street. One of them on Grafton Street is currently being fitted out by Disney and in due course the newly- appointed Irish manager will be expected to give a new lease of life to the Royal Hibernian Way, which is a bit down at heel at the moment.