Deloitte 9th March 2014

March 11, 2014  |  By Johnny Mooney  |  Views: 175

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The Sunday Business Post September 28, 2014 Property 2 Property A ccording to auc- tioneers in the Leinster area, there has been a huge rise in prospective buyers – investors, admittedly – mak - ing oers and trying to agree sales without viewing or inspecting the properties. Rushed buying can be attributed to investors hoping to complete contacts beore the end o the year to take advantage o the current capital gains tax waiver. Auctioneers are understandably worried about such oers, and while this practice might have been accept - able two or three years ago, in today’s market the present and prepared bidder is considered the most suitable bidder. For bank and receiver sales, the auctioneer might well be asked to conrm that the bidder has actually attended the property or has had the property viewed on his/her behal. Tere is a very good reason or this. Fall-through rates are on the rise again, and the chances o a transaction alling through are much greater i the bidder has never actually visited the property, or even the area. One o the other reasons or trans - actions ailing to complete is because many investors make oers on multi - ple properties at the same time. I those oers are accepted, they allow each auctioneer to believe that the trans- action will proceed until such time as they make a decision on which prop- erty to purchase. Tis is rustrating or the auctioneers, the vendors and, more importantly, or competing bidders, because when properties come back to the market, it is dicult to ascertain genuine value as the bidding was not undertaken in good aith. O course, buyers are not solely at ault or the increased all through rates; bank vendors are ridiculously slow to issue contracts and title doc - umentation to buyers, which causes buyers to worry and sometimes move on to other, less complicated purchas- es. All the best research is done on foot Carol Tallon Talking Property Get a surveyor in, walk the neighbourhood, and talk to the locals – it’s the only way to be sure of an area When the vendor can’t provide title documentation, and the sale is delayed, there is little to do except to give them time – or eventually walk away. However, a buyer can always be prepared. I always advise that some amount o research – or due diligence – should be done beore completing contracts. Due diligence can be dened as the type and extent o research a prudent person would undertake when spend - ing hundreds o thousands o euro to buy a property. Banks carry out their own due diligence, both on the bor- rower and on the property in question, beore granting a mortgage; but the purchaser cannot rely on this. Every buyer should do their own research, and dig deeper than the brochure or sales website. Over the last decade, I have learned that every investor has their own idea o due diligence and what risks to look out or. Property sales websites and the national property price register are the rst ports o call to measure the extent o available properties in the area and to check recent comparable sales. Another big concern is with the structure o the property. Money spent on a structural survey is never a waste. Oten, investors ail to pick up on issues that a tenant might. Is there sucient storage or parking or guests? What about public transport? In my experience, the best research is carried out oine. I recommend a visit to the neighbourhood in the eve - ning to check or signs o anti-social behaviour, or problems that might aect tenants. Driving through the area is helpul, but going or a walk will show you green areas and pedestrian walkways – telling spots in any given area. Particular interest should be shown with vacant sites, as these are the most likely way that the neigh- bourhood will change. Knocking on a potential neighbour’s door can be a daunting but invaluable experience. Te best inormation I ever learned about a particular Dublin 4 suburb came rom sitting in a stranger’s kitch - en over coee. O course, not everyone will be so open or welcoming, but that too tells you something about the area. As a general rule, any and all public inormation about the property and the seller should contribute to your exercise in due diligence. In Ireland, we do not have as much public in- ormation as most other developed countries, so the research can be more labour-intensive. Te most important thing about gathering this inormation is to use it. Tis might sound obvious, but knowledge is power. You should use it to negotiate reduced oers, or walk away when the signs are o. Te pur- pose o research is to help you make a decision. Twitter: @CarolTallon Every investor has their own idea of due diligence and what risks to look out for By Margaret O’Brien S o ar, I’ve hosted the US champion spear isherwom - an, who is more a- mous or swimming with a white shark and has a gazillion ollowers on You- ube; a UN negotiator; a US healthcare policy adviser; a Médecins Sans Frontières worker in search o rain ater an 18-month bone dry stint in Arica (and it didn’t rain); a lielong riend o my avourite author (Wally Lamb); an Ital- ian soap actress; eight proes- sors; ten architects; umpteen teachers; our couples who work or Mercedes-Benz in Germany but don’t know each other; a delightul Dutch couple who got engaged here; seven honeymoon couples; and only one jerk. I didn’t oresee that outcome when I signed up as an Airbnb host earlier this year. In act, I didn’t know what to expect. I started out as an apologist thinking: “Who’ll want to stay here? I don’t have sea views, and I’m not in a city.” I am not even in a village or town, although (please note, Airbnb) I am only minutes rom Ennis. I am also with- in 30 minutes o all tourist attractions in Co Clare, and that appeals to people who are looking or a base or a ew days. What appeals not just to Americans, Canadians and Australians but also, more surprisingly, to Europeans is that I live in a house that is more than 300 years old, with some amazing ruins in my back garden. Guests book or all sorts o reasons. I have had people stay rom Florida and Caliornia who live in beach houses, and all they wanted was to see green grass, blooming trees and cows. In rural Spancilhill, I could oblige. I also learned that a sizeable cohort o tourists like to stay with locals – let’s ace it, we know the lay o the land. But being a host is no walk in the park. I’ve worked hard to earn my positive reviews. Te day might start with hull- ing strawberries and gently washing raspberries or the berry salad, lightly scrambling some eggs or squishing the blueberries in the pancakes just enough to make the juices ooze. But the tough stu ollows – stripping beds, shaking out duvets, washing toilets, baths, showers and towels. Right now, I could be mis- taken or a sel-harmer, with my V-shaped ironing scars branded into my orearms. In the main, my dealings with Airbnb have been very good –in this high-tech world we live in, you don’t get to talk to anyone, but they have be- come quicker at answering queries by email. Perhaps they too are coming to terms with teething problems. Airbnb’s sotware is excel - lent at keeping track o book- ings, and it keeps my accounts in order. My only gripe is that those damn algorithms they deploy in their search engine don’t do their Irish hosts any avours. When you search or a town like Ennis, or example, you get oered accommoda- tion in Limerick, Galway and even Cork, beore you get on to some o the properties ac- tually located in the town and its surrounds. But I can’t complain too much. Airbnb has provided this sel-employed person with much needed cashfow. Te money is sent to my busi- ness account as soon as each guest crosses my threshold. Tat said, we are talking about modest sums when you cal- culate what I earn per hour or my labour-intensive washing, ironing and bed and breakast making eorts. As I refect on my rst sea- son, the experience has been variously eye-opening, heart - warming, humbling, great un with lots o laughs, hard work, stressul and downright ex- hausting. But would I swap any o it? No. Check out gold-star host Margaret’s listings at airbnb.ie/ rooms/2280809 and airbnb.ie/ rooms/2456238 Te ups and downs of being an Airbnb host from page 1 unique properties spread across Ireland, rom castles in Galway to contemporary Victorian cottages in Dublin. Te appeal o Airbnb is that you can have experiences in all o these amazing places that you never previously would have ound, or had access to,” said Kerr. And there are castles aplen- ty, including Durhamstown House in Co Meath, which sleeps 16 guests in eight bed- rooms at a rate o €1,040 per night or €65 per person. Or take the 19th-century grain-drying kiln in Strad- bally in Laois – a three-storey converted industrial building with two bedrooms, a bath- room, open plan kitchen and living area located an hour away rom Dublin. Four guests can rent the space per night or €110. For those in search o bu- colic bliss, there’s a beau- tiul cedar clad newly built our-bedroom house avail- able or €132 per night in Moyhastin in Co Mayo. Te idyllic retreat has stunning views o Croagh Patrick and the Partry Hills in West Mayo, can accommodate up to seven people per night and can be rented at a monthly rate o €2,038. For the more adventurous, there are caravans or glamor- ous camping – or ‘glamping’, tree houses, a ormer pub – without a stocked bar, stone and thatch-rooed cottages, Victorian period homes, and even a two to our-person yurt or rent in Galway. Spare another ew hours i you plan on browsing or holiday or short stay accom- modation abroad where a wealth o surprises lurk. For instance, auent ootball ans attending the 2014 World Cup had the option o renting oot- baller Ronaldinho’s ve-bed- room, six-bathroom home in Rio at a rate o €15,000 per night. Te house eatures a swimming pool, sauna, home theatre, wine cellar, a zen room and a dance stage. So, how does it work? Airbnb charges the host 3 per cent o the transaction, and charges guests between 6 and 12 per cent o the transaction, depending on the length and size o the reservation. It is ree to list your place on Airb- nb – you only pay when you actually book a reservation. Given the grumblings Airb- nb is acing in New York and Caliornia in relation to tax, Kerr said: “We expect all hosts to amiliarise themselves with and ollow their local laws and regulations. You can nd more on Airbnb’s Responsible Hosting page i you are in any doubt.” Inevitably, the question o trust arises. All users have to carry out a series o online checks to veriy their identi- ty and there are security and protection tools, techniques and tips on Airbnb's website. But, ultimately, the level o trust is dependent on repu- tation and reviews by other guests. All the same, Airbnb is said to employ more than 50 investigative agents on its trust and saety team, ap- parently led by a ormer US army intelligence ocer and US government investigator. he company has also partnered with Lloyd’s o London meaning Airbnb’s ‘Host Guarantee’ insurance service provides protection or up to €700,000 in dam- ages to cover property in the event o damages. Like any insurance claim, payments are subject to detailed terms and conditions, limitations and exclusions. And or a nation that loves to travel, the opportunities to stay in creative, inspiring, unique and all-out wacky places abroad is hugely en- ticing. According to Airbnb, the most popular destinations or Irish travellers, while a lit- tle predictable, are London, Paris, Rome, Berlin, New York and San Francisco. With endless accommo- dation possibilities at prices to suit all budgets, Airbnb's Irish guest and host gures are likely to continue to rise. Airbnb opening doors to visitors worldwide Margaret O’Brien’s 300-year-old home in Co Clare A Victorian cottage in Dublin combines old and modern for visitors to enjoy Ultimately, the level of trust is dependent on reputation and reviews by other guests Bank pressure Negative Equity Negative equity Loans or property assets… Bank oered you ull and fnal settlement… Don’t have the cash… We have the unds, track record and property team to buy your assets or loans and let you avail o debt write-downs Contact : Alf Quirke 01-6629014 aq@qea.ie For stockists contact: KKS (Kontinental Kitchen Supplies) T/A Cucina Ltd Unit 85, Cherry Orchard Industrial Estate, Dublin 10 Telephone: 01 6262314 | E-Mail: sales@kks.ie | Fax: 01 6262416 | www.kks.ie DISCOVER THE FUTURE OF COOKING

Published: September 26, 2014
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Published: September 26, 2014
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The Sunday Business Post September 21, 2014 Property 2 Property L ast week, auction giant Allsop Space lled the RDS in Dublin with ready buyers and inves- tors as it staged its 17th – and most successul – property auction since venturing into the mar- ketplace in 2011. I have always valued these auctions, as they were the rst o their kind to oer a high enough volume that they could be used as a snapshot o a signi- icant portion o the market. From 2011 to 2013, cash transactions accounted or almost 60 per cent o all transactions taking place in Ireland. At that time, investor activity in the auction room was a relatively accurate barometer o what was happening outside the auction room. In act, the auction was generally ahead o the curve and the results could have been viewed credibly as orecast indicators. With mortgaged transactions over - taking cash transactions by two to one yet again, investors are no longer dic- tating the market. You would be or- given or thinking that this should be a good thing, but in reality it is not. Investors generally have a better grounding in value, and will walk away rom a transaction beore overpaying to any large extent. With mortgaged homebuyers at the helm, it is dicult to see how stability in terms o market value can be achieved, as these buyers tend to overpay as a matter o course. At last week’s auction, homebuyers, seasoned investors and amateur in - vestors hoping to scoop an 11th-hour bargain all collided. Te result was property price chaos. Tere is usually a trend that is apparent in any auction room on the day. On some occasions, especially in the early Allsop Space days, rural homes and industrial prop - erty tended to lag behind as investors focked to newly-built apartments or well-located retail and oce oppor- tunities. Last year, industrial property took a huge leap orward, with top prices being achieved at auction rather than by private treaty. By ar the most dicult class o buy- er to entice into the auction process was the homebuyer. Tis buyer was slow to accept auctions as a method o purchase, slow to recognise the op- portunity or a bargain, and slow to put pressure on lenders to support them buying at auction. For many, the risks and uncertainty were simply insur- mountable. Te ew who participated over the last ew years did very well, usually much better than they might have ared through private treaty ne- gotiations with competition rom other buyers. I am not sure i that was the trend at last week’s auction, though. Low-val - ue rural homes almost all doubled (and some even tripled) in price rom their guide prices to the winning bids. Surprisingly, a ne period house which was well located in Ranelagh, one o Dublin’s most sought-ater areas or amily homes, ailed to attract any bids. Also surprising was the lack o in- terest in a Dublin 2 apartment guiding less than €200,000. Any other day, both o these properties would have attracted intense bidding and sold or well over the reserve prices. As I men - tioned earlier, the trends at auction are generally apparent and this one was quite pronounced. aking out the big buyers and in- stitutional investors, the majority o buyers in the room by the aternoon’s bidding had less than €150,000 to spend, I would suggest that many had well under the €100,000 mark. Tis translated into some quality properties not being sold, while ques - tionable units in equally questionable areas attracted multiple bidders and achieved prices well in excess o the reserve prices. In act, many o these properties achieved much greater prices in the auction room than they would have at private treaty. For example, one par - tially completed amily home in the midlands sold or more than twice the price o comparable houses currently available in that area. So what was driving this sudden rush o low-value buyers and inves - tors? Certainly, the market recovery is established, condence has been restored – however justied or mis - placed that might be – and bargains are genuinely starting to run out. But while all o these actors con- tribute, they are not the primary driv- ing orce. Te act is that any properties purchased as an investment beore the end o this year and held or a period o no less than seven years will attract capital gains tax (CG) relie that is currently 33 per cent. Simply put, investors who stay the course will save €33,000 per €100,000 prot. I the market recovery contin - ues, that is a huge saving. By doing this, investors are eectively gambling on the recovery continuing or the next seven years, so much so that they are grossly overpaying in today’s market. Minister or Finance Michael Noonan has already stated earlier this year that he will not be renewing the CG relie, which has been in place since 2011. His reasoning or this was the “wall o money” available rom willing inves - tors in the Irish market. O course, that was a ew months ago, and a ew months is a long time in politics, and in this surging property market too, it would appear. Howev - er, a urther extension in Budget 2015 seems unlikely at this stage. Ever the entrepreneur, Allsop Space has capitalised on this market by ar - ranging a urther auction next month, on October 22. Tis will allow buyers who wish to avail o the CG relie one nal opportunity to do so, in time to close beore the end o the year. As contracts or properties pur - chased at auction have a strict 28-day closing period, the transactions rom next month’s auction should be com - pleted beore December 31 – just don’t orget to check the price register to ascertain genuine market value beore bidding. Pay now, cash in later – but is it worth it? Carol Tallon Talking Property Some homebuyers are overpaying today to avoid capital gains tax in seven years’ time. Is this a gamble too ar? Investors are efectively gambling on the recovery continuing or the next seven years an ideal, comortable ami- ly room. Double doors lead rom here to one o the two conservatories. Tis Amdega conservatory has a tiled lime- stone foor and spot lighting and the double doors that lead to the garden allow or plen- ty o natural light to food the room, creating a sun trap. Te bright kitchen/break- ast room has ceiling coving and spot lighting and is oered a sleek nish thanks to the tted wall and foor units and dark polished granite work- tops. It is also tted with a sink, oven, grill and hob and an intercom to the gate. Be- hind the kitchen there is a ‘back kitchen’ which is ully tiled and is tted to include a larder with plenty o stor- age, a laundry area plumbed or a washing machine and a door to the rear garden. Tere is also a hot press with addi - tional storage space and a wet room complete with a WC, wash hand basin and shower. he oice eatures oak foors with ceiling coving and a sash window overlooking the courtyard. A door rom here leads to the sitting room which eatures double sash windows, a carpeted foor and a marble replace with an open re insert. Te rst bedroom has dual access and is a double room with carpeted foors, tted wardrobes and a large sash window overlooking the courtyard. A library room, with oak foors, tted bookcases and double doors leads to the sec- ond conservatory which, in turn, leads to the garden. Te inner hallway com- prises a eature arch and tiled foors and leads to the bathroom and additional bedrooms. Te bathroom has travertine stone foor and wall tiling, a bath with a shower attachment, a WC and a wash hand basin. Te luxurious master bed- room is a large room with oak foors and spot lighting, large tted wardrobes and two sash windows that overlook the courtyard. Te third and ourth bed- rooms are single rooms with oak foors and sash windows while the two remaining bed- rooms are doubles. Completing the accommo- dation is the second bathroom which comprises a bath with shower attachment, WC, wash hand basin, heated towel rail and a Velux window. A second hot press oers shelving with plenty o storage space. he sunny ront walled courtyard is gravelled and enjoys a mature, specimen cloud tree. Te rear walled classic garden includes a terrace leading rom the two conservatories to a water ea- ture and a decked area o the kitchen. Te garden is lawned with slight eature gradients, box hedging, a variety o trees, shrubs and plants. Providence goes to auction on Wednesday, October 1 at 3pm at Ganly Walters oces in Dublin. For more inor- mation contact the agent at 01-6623255. rom page 1 Sash windows illuminate the living-room A library with ftted bookshelves leads into a bright conservatory Diarmuid Gavin, Philippa Buckley and Denise O’Connor prepare or the Design Fair Picture: Peter Houlihan By ina-Marie O’neill Som o th cout’s bstkow  chtcts d dsgs w b o hd to dvs vstos bout utu d tos t th u autum Dsg F t Bco South Qut (BSQ) o Stud. Ts ’s  s ttd ‘3D Dsg Cocpts’ d tus th w kow dsgs d V psts. Duc Stwt w spk bout chtctu d sustb g pg; Dmud Gv w ocus o xto pg d dsg; d om Dsg Docto Ds O’Co  o w dscuss chtctu d t os. T spks w om  p dscusso whch w b chd b to dsg Phpp Buck o Studo 44 Dsg. Showcsg th utum coc tos  tto utu  ts Bo Cocpt, Cgs, Kub, roch Bobos d Sou lst,  o whch  bsd t BSQ. “ech  w hv xpts  th s o chtctu d to d  sg povdg dvc d sght o th tst tds. Ts ’s  w b o ptcu tst to o who s cosdg  ovto, toft o dsg o th hom d s  b  t oppotut to gt  dvc om xpt possos,” sd B rochod o Bo Cocpt. T vt omt w b  p dscusso oowd b Q&a sssos. wo p sssos w tk pc t 1.30pm d 3.30pm. Fo uth o mto, og o to bcosouthqut. . Georgian elegance in Rathmichael All the fair o the air this autumn Design event at Beacon South Quarter managing your property the headache out We take of Tak to o o ou xcd tt at to fd out mo Dubl C C Mandy Meredith : 01 246 1177 : mmeredith@sfettings.ie Dubl C C Joanne OSivan : 01 246 1177 : josivan@sfettings.ie Dubl SOuH Sarah bter : 01 278 4282 : ster@sfettings.ie Dubl OH Aoie Mahon : 01 857 3788 : amahon@sfettings.ie Dubl SOuH Aoie Ganey : 01 492 9851 : aganey@sfettings.ie Dubl SOuH wS vonne Kenny : 01 495 3001 : inosd@sfettings.com There’s leTTing prperTy - n There’s leTTing prperTies The sherryiTz wy Property Loans Negative Equity Do you have property related loans with Irish and International Banks in negative equity? Does the bank want you to make a ull and fnal settlement? Do you want to sell the property and take advantage o the debt write down? We have the unds, track record and property team to buy your assets or loans and let you avail o debt write-downs Contact : Alf Quirke 01-6629014 aq@qea.ie

Published: September 19, 2014
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Published: September 19, 2014
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The Sunday Business Post September 14, 2014 Property 2 Property S outh Korean archi- tect Minsuk Cho, in Dublin to speak at the Irish Archi - tecture Foundation and Arup's NewN - owNext lecture se- ries, is posing or photos beside a bronze statue o a horse in the gardens o the Merrion Hotel in Dublin. I muse that it should have been a lion in honour o his Golden Lion award or curating Korea's exhibi- tion entry 'Crow's eye view: the Korean peninsula' at this year's Venice Biennale. “No, I was born in the Chinese year o the horse,” he says. “Tis year is the year o the ‘blue horse’, which signies either great things or a total uck-up.” Te ormer, then, as 2014 has been an unques- tionable success or Cho. “Venice was a unique opportu- nity or me,” he says. “Te theme was not initiated by me. ypically, national pavilions come up with their own theme and present it in the best way they can by dealing with their identity through archi- tecture. Tis year, the director Rem Koolhaas decided to coordinate the entire theme under the title ‘Absorbing modernity rom 1914 to 2014’, so each country had to come with their own unique narrative about the modernity process and present it in their own indigenous, vernacular style.” A multiple architectural award winner, Cho was born in Seoul and graduated rom the Architectural Engineering Department o the city's Yonsei University beore studying at Columbia University in New York, where he started his career. He later moved to the Nether- lands and the Oce o Metropol- itan Architecture, OMA, beore es- tablishing Cho Slade Architecture in 1998 with partner James Slade in New York City. He returned to Korea in 2003 to open his own practice, Mass Studies. “Te old Seoul was a planned city, a kingdom built within our mountains about 620 years ago during the Joseon Dynasty and ounded on the principles o pung- su, or eng shui,” he explains. “When I was a kid, Korea was a Tird World country. Te South was poorer than the North until the mid-1970s, when we experi- enced this compressed economic growth, a ast, double-digit eco- nomic sprint that resulted in mas - sive urbanisation and the creation o huge skyscrapers and apartment towers.” According to Cho, ater a warp- speed race to drag itsel into the 21st century with western, Amer- ican-inuenced high-rise archi- tecture and car-centric, industri- alised urbanisation, Seoul is now maturing, becoming more reec- tive and introspective, experienc- ing a period o ‘soul-searching’, i you will. “When I came back in 2003 ater 14 years abroad, I ound a diferent country to the one I let. It took me about two years to adjust. Re- reshingly, South Korea has become quite creative. It has a huge pop culture, lots o contemporary art and movies that we can identi- y with. A political openness and democratic movement somehow created that creative explosion,” he says. Cho's Mass Studies employs about 25 people. It works on ev- erything rom small, short-term projects ranging rom a week and six-month exhibitions such as the Korean pavilion or the 2010 Shanghai Expo, to long-term ven- tures which, says Cho, typiy what he initially set out to do as an ar- chitect by creating something that will last longer than himsel. Te Pixel house is one o those, a quirky 84 square metre stacked and staggered brick home located in a creative residential scheme about an hour away rom Seoul. Designed in collaboration with his New York partner Slade in 2001, Cho regards the unusual house as his avourite and possibly biggest challenge to date. “It was designed or a creative couple and their two children who wanted to live in a unique and diferent environment, un- like about 60 per cent o the rest o the population, which wanted homogeneous, cookie-cutter style apartments.” Te residence is a radical de- parture rom the norm, and while Cho doesn’t like the limelight, it’s precisely this departure rom con- ormity that appeals to him and draws attention to his talent. DaumSpace1, a phenomenal structure created by Cho’s Mass Studies or Korea's Google equiv- alent, is another example. “Tis company is also a little rad- ical,” he says. “A successul dotcom company, it abandoned Seoul to move to a remote island of the Korean Peninsula in an efort to create a new architectural space that would tell the world how this company wants to work and live.” So what's next or Cho? “I'm not on a mission to take over the world,” he says. “I'm very happy where I am. My lie is 95 per cent about building nice buildings, but the cultural theme behind our entry at Venice has inspired the start o a dream about building some sort o engagement between North and South Korea. “I’m also putting on my rst big show in 12 years, called Be- ore And Ater, looking at buildings that we’ve designed and how they have been used, or sabotaged, or beautiully decayed since. Build- ings are like babies: you give them lie, but they make their own way. “We [Mass Studies] want to show what we intended the buildings or and what has happened to them. We’ll also be showing archived projects that didn't go ahead. I’m excited to have this opportunity to be more intelligent about what we have been doing, and how that will inorm us in the uture.” Mass Studies and massive ambition for Korean visionary rom page 1 Te iconic architecture o W Hotel and Residencies is by Gwathmey Siegel Kauman & Associates, designed by the late Charles Gwathmey who, with a group o architects known as the New York Five, rewrote the book on contem- porary liestyle. Te 228 apartments ofer the last word in luxury liv- ing, with the bonus o un- restricted access to all hotel services. Living rooms have immense picture widows with unparalleled views over the city, kitchens and bathrooms are state o the art. Tere’s a residents-only entrance and lobby with a 24-7 concierge. Amenities include a digital entertainment lounge, caé, tness centre, spa treatment rooms, and that’s not orget- ting that glorious 57th oor outdoor roo terrace. Prices start at $1.35 mil- lion to $1.785 million or a one-bedroom home (rom 56 to 74 square metres), rom $2.535 million to $3.072 million or a two-bed home (ranging rom 95 to 109 square metres), and Te Penthouse Collection, which costs rom $2.23 million to $4.875 mil- lion. A block south o the W, a second residential option is 50 West Street, a 64-storey condominium due or com- pletion in 2016. Designed by Helmut Jahn, the 191 apart- ments range rom one to ve bedrooms with double-height living rooms as standard, plus ve duplexes. With curved glass oor-to- ceiling windows, white oak loors, marble bathrooms and brushed granite kitchen countertops, these are homes or international sophisticates. Tere will also be 15 units o oce space ofered to res- idents who like to keep home and business under one roo – nine are already sold. Four oors are devoted to state-o- the-art amenities: a tness centre, a water club, a dog parlour (in bad weather, no one wants muddy paws soil- ing the oors), an observatory equipped with binocular tow- er viewers, children’s ameni- ties, and a spectacular 64th oor outdoor space that has everything needed or outdoor entertaining whether it be a barbecue or a banquet table. Fity West Street prices are rom $1.6 million to $3.2 million or a one-bed home (108.4 to 117 square metres), rom $2.49 million to $4.4 million or a two-bed home (140.5 to 161 square metres), rom $4.24 million to $7.22 million or a three-bed home (spanning between approxi- mately 214 to 223 square me- tres), and rom $6.815 million to $7.22 million or a our-bed home o 248 square metres. Te L Series penthouses cost $18.63 million or 340 square metres. Te emphasis on outdoor and children’s acilities signals the new trend o Downtown as a amily location – Lower Manhattan is now the astest growing school zone in the city. On the southern tip o Man- hattan island, Battery Park has endless bike lanes, 36 acres o parks, gardens, playing elds and playgrounds and the Manhattan Sailing School is right on its doorstep. Te changes across Lower Manhattan would have been unimaginable back in 1990, when anywhere south o 44th Street was a walk on the wild side. As one Manhattan prop- erty watcher put it: “Tere are no bad districts in Manhattan anymore – you see people us- ing their iPads on the subway.” Even the edgiest districts have come into the old. At 30th street you can climb the stairs to the High Line and stroll through a 1. 6-kilometre linear park all the way south to three blocks below West 14th Street. A section o the elevat- ed ormer New York Central Railroad has been redesigned and planted as an aerial gre- enway – the vegetation cho- sen to pay homage to the wild plants that had colonised the abandoned railway. Te once seedy West 14th Street is now home to top re- tailers such as DKNY and the Apple Store. Downtown innovations aren’t restricted to multimil- lion dollar ventures. Te latest change to the skyline is the Water ank Project whereby, one tank at a time, the amil- iar eyesores are now being wrapped in artwork, intended to utilise art as social inspira- tion – and draw attention to the most precious resource o the 21st century. For more details of W New York Downtown Hotel and Residencies, and 50 West Street, see JP Knight & Partners at jpknightandpartners.com, call 0044-2073366777, or e-mail sales@jpknightandpartners.com Downtown goes uptown in New York 50 West bedrooms look out over the Hudson river The luxury W Hotel and Residences development was led by Dubliner Philip Hegarty or JP Knight & Partners, a London asset management frm High Line park: a stretch o abandoned railway turned into a greenway Dogs wait or their owners to return at a hitching post outside a Starbucks in New York A living room in the W Hotel and Residencies in downtown New York One World Trade Center rises north o the W Hotel A living-room in the 50 West condo development Minsuk Cho: ‘I’m not on a mission to take over the world’ Picure: Maura Hickey Arriving in Dublin for a lecture tour, award-winning architect Minsuk Cho talks Korean history, modernity and letting his buildings go, writes Tina-Marie O’Neill For Someone with Taste Cottage on 7 Acres Overlooking the River Lennon near Rathmelton Co. Donegal. €360,000 Replys to 087/2343364

Published: September 12, 2014
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BILL KENWRIGHT PRESENTS THEIR LIVES WERE WORLDS APART... ...THEIR DESTINY JOINED THEM TOGETHER THE MUSICAL FOR ALL TIME COMES TO DUBLIN FOR TWO WEEKS ONLY! MONDAY 29 SEPTEMBER - SATURDAY 11 OCTOBER 0818 719 377 WWW.BORDGAISENERGYTHEATRE.IE Telephone & Internet bookings subject to € 1.50 s/c per ticket upto € 12; 12.5% over € 12 (max € 5.95) / Agents € 2.00

Published: September 12, 2014
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Published: September 9, 2014
Views: 86
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BILL KENWRIGHT PRESENTS THEIR LIVES WERE WORLDS APART... ...THEIR DESTINY JOINED THEM TOGETHER THE MUSICAL FOR ALL TIME COMES TO DUBLIN FOR TWO WEEKS ONLY! MONDAY 29 SEPTEMBER - SATURDAY 11 OCTOBER 0818 719 377 WWW.BORDGAISENERGYTHEATRE.IE Telephone & Internet bookings subject to € 1.50 s/c per ticket upto € 12; 12.5% over € 12 (max € 5.95) / Agents € 2.00

Published: September 5, 2014
Views: 41
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