The Infinity Building in Smithfield was sold in 2019 for €57m. Guide price last November was €47.2m. - ThreadSky

unamullally.bsky.social • 18 days ago

The Infinity Building in Smithfield was sold in 2019 for €57m.

Guide price last November was €47.2m.

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North Dock was priced at €155m in 2023.

Guide price last year was €130m.

Report here says a deal was done for €85m.

https://www.businesspost.ie/news/sale-of-oaktree-and-namas-distressed-north-dock-office-blocks-completed/

unamullally.bsky.social•18 days ago

It's extremely challenging to refurbish contemporary office blocks for housing, much easier with older blocks, but there are clearly great deals in some commercial property rn.

Given the need for housing in Dublin city centre, it's a pity that these sites apparently can't be redeveloped for homes.

real2meal.bsky.social•18 days ago

A slight variation on the above. The government owns/uses a lot of older and somewhat dated offices for their departments. Might be worth considering buying more modern offices for these departments and converting their older stock into homes.

unamullally.bsky.social•18 days ago

Yes, they should absolutely be doing this. Any entity with office buildings that would be easier to convert to homes should be incentivised to move to contemporary offices, IMO. Especially those Georgian buildings, which were housing once upon a time!

andyd10.bsky.social•18 days ago

That seems to make a lot of sense.

samtranum.bsky.social•18 days ago

They seem to be moving away from that kind of thing actually https://www.dublininquirer.com/council-cuts-back-efforts-to-turn-vacant-office-and-commercial-buildings-into-social-homes/

sarahreesbrennan.bsky.social•18 days ago

Oh noooo. There’s vacant houses on my (central, other houses go for much moneys!) street that haunt my dreams.

unamullally.bsky.social•18 days ago

Yep, saw that. But ultimately I think the task is more with the LDA than councils.

Pretty much unviable to convert many of those contemporary buildings I've listed, but the sites could be used.

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