Cork Real Estate Group’s Post

𝐔𝐫𝐛𝐚𝐧 𝐄𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧: 𝐍𝐞𝐰 𝐂𝐡𝐚𝐦𝐛𝐞𝐫 𝐏𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭 𝐅𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐖𝐞𝐥𝐜𝐨𝐦𝐢𝐧𝐠 𝐚𝐧𝐝 𝐕𝐢𝐛𝐫𝐚𝐧𝐭 𝐔𝐫𝐛𝐚𝐧 𝐒𝐩𝐚𝐜𝐞𝐬 -𝘊𝘰𝘳𝘬 𝘊𝘩𝘢𝘮𝘣𝘦𝘳 𝘰𝘧 𝘊𝘰𝘮𝘮𝘦𝘳𝘤𝘦 𝘞𝘦𝘭𝘤𝘰𝘮𝘦𝘴 𝘕𝘦𝘸 𝘗𝘳𝘦𝘴𝘪𝘥𝘦𝘯𝘵 𝘙𝘰𝘣 𝘏𝘰𝘳𝘨𝘢𝘯 𝘢𝘵 2024 𝘈𝘎𝘔, 𝘢𝘭𝘰𝘯𝘨 𝘸𝘪𝘵𝘩 𝘯𝘦𝘸 𝘣𝘰𝘢𝘳𝘥 𝘮𝘦𝘮𝘣𝘦𝘳𝘴- During his address at the AGM, new President Rob Horgan outlined his vision and commitment to furthering Cork's economic and social prosperity. "Cork Chamber sets out a firm, ambitious, and determined vision for an invigorating and smart city region. One that is relentlessly progressive, yet regenerative, authentic, and expressive," he said.  [...] Mr Horgan identified critical challenges that must be addressed to support the business community, particularly in urban development. "In an era with so much pressure for viable accommodation, we must be relentless in pursuing all the options. Transforming our above shop spaces. Rejuvenating derelict properties. The renovations that are most needed are those to our thinking, if we are to deliver this. Instead of listing the barriers, we need to all list the solutions. [...] We simply must find creative resolutions to the issues that are rendering so much real estate vacant and falling into disrepair. " "Our urban landscapes, in the city, the many beautiful towns and communities across the county deserve to be at their best, with bustling streets and green spaces. With a rich mix of offices, retailers, cultural sites, hospitality businesses and importantly, accommodation. Variety is essential, however, and we need to ensure that our city works for everybody. A safe city is nonnegotiable. It’s no longer acceptable to rely on reported crime numbers as a measure of safety. Cork City centre needs to be a welcoming place where everybody feels safe. There is no doubt that we need greater resourcing for our gardai to support our communities. This resource needs to be a publicly visible Garda presence, not a quoted number." Read more https://lnkd.in/e5HmKW2X Pictured below are new board members with Chamber President & CEO. Conor O’Toole, Clayton Hotels Cork City, Carmel Lonergan, Trigon Hotels, Gillian Bergin, Dell Technologies, Rob Horgan, (Chamber President) Conor Healy, (Chamber CEO) Jean van Sinderen-Law, University College Cork, Garrett O'Keeffe, SolarWinds,

(Post 1/2) City Spotlight: Tampa   Overview   Tampa is one of, if not Florida’s most prominent and fastest-growing cities. Situated alongside Tampa Bay, the city is a center for business, culture, and nightlife.    Besides Jacksonville and Miami, the bayfront city is the third most populous in the state of Florida. Right around the West Coast of the state, Tampa is situated around cities like St. Petersburg, Clearwater, and Pinellas Park across the bay. Though Tampa is known for more of a city vibe, St. Pete and Clearwater are mostly associated with their great beaches.    The city originally developed because of its strong port presence, leading to an injection of economic growth in the area. Ybor City, named after Vicente Martinez Ybor, had a huge influence on the local economy with its cigar production.    Famous Neighborhoods   Ybor City Ybor City has plenty of cultural influence from Cuba and Latin America. If you’re looking for amazing food choices, Ybor City may be the place to look – not only that, but it is surrounded by plenty of history as well. Ybor City is the “cigar capital of the world”, and features a ton of cobblestone streets, factories, and other great areas to explore.    Historic Gas Plant District Ever been to a game at Tropicana Field? Well, the Tampa Bay Rays are building a brand new stadium in its place. Their massive stadium will feature a huge entertainment district for fans to explore before and after games, which will help improve the fan experience at every level. The Gas Plant District’s redevelopment comes in at over a billion dollars, but will completely reinvent the area with new nightlife opportunities alongside the Ray’s Stadium.    Downtown Tampa The best part of downtown Tampa is that you’re right in the middle of the city’s action. It’s a busy city that has great nightlife and great food always available. It’s right along the water, too, so it’s a beautiful area to relax or hang out. Obviously, there are plenty of businesses located in Tampa as well, making it the perfect mix for visitors.   

New Report | The Case for Cork 2024 The vision for Cork City as laid out in the Cork City Development Plan 2022-2028 is both ambitious and exciting. The emphasis that the ISIF and the IDA have placed on growing regional cities, including Cork, is another highly positive factor that will support the future growth of the city. According to Denis O’Donoghue from CBRE’s Cork office, “warehousing and distribution facilities in Cork are in high demand, which is reflected in the record low vacancy rate of just 0.7% and exceptionally strong rental growth. Due to the imbalance in the residential sector and the government initiatives aimed at stimulating the supply of housing, we continue to see strong interest for sites with residential development potential.” Emer Geissel, analyst on the research & consultancy team at CBRE said, “Cork attracted €190m of real estate investment in 2023, trending above the long-term annual average for the market. Investors continue to view Cork favorably, particularly opportunities in the living sectors, logistics, and out of town retail, as reflected in larger transactions in the market last year.”  Read the full story covered in The Examiner yesterday. Read here: https://lnkd.in/e7pt-m48 Download the full report: https://lnkd.in/ezHvCASP Colin Richardson | Brian Edwards | Zach Maguire

🗞️ This week, City & County of Swansea announced its proposed plans, for an office development on the former St David’s Shopping Centre site. With this news, we caught up with our associate director, James Smale-Davies to hear his thoughts on the changing face of the City Centre: 𝗝𝗮𝗺𝗲𝘀 𝘀𝗮𝗶𝗱:  “It’s unbelievably encouraging to see the ongoing investment in our city, and watching plans come to fruition. “With Y Storfa, and 71/72 Kingsway, the public sector hub will be a fantastic new addition and will only mean good things for the growth of the city. “With hundreds of council staff set to be based at the development, it doesn’t just mean that existing businesses will thrive from the additional footfall, but it will also make Swansea City Centre a more attractive city for further investment. “The knock-on effect of increased footfall is huge. National brands across retail and the F&B sector, will realise the benefits of expanding and investing in Swansea. Where there is demand, comes the supply and I’m looking forward to seeing the impact this will have on the city.” Read the full proposal here👉 https://lnkd.in/eksR9UKg 💭 What are your thoughts on the regeneration of the City Centre? Liam Slater Lisa Williams Gill Bain Harry Rowland Molli Martin Gareth Harries Stuart Davies Jane Parker Chris Mills Amy Seppman Jonathan Richards Michael Morgan Alison Vickers (ACA) Mandi Gwynne Andrew Downie Mark Sullivan ACII Ryan Miles Gareth Thomas Russell Greenslade Louisa Huxtable-Thomas

CBRE Ireland new report | The Case for Cork Key highlights: ➡ Cork city and suburbs could see population growth of up to 50% by 2040 ➡ Balanced regional development is a key strategic priority for the IDA and Cork attracted some notable FDI in 2023 ➡ Cork real estate investment sales volumes in 2023 totalled €190m, trending above the long-term annual average for the market ➡ The Cork market is undersupplied of modern industrial & logistics space, with a current vacancy rate of less than 1% ➡ The entire Southwest region attracts huge tourist inflow and this is reflected in current hotel occupancy and room rates Download the full report here: https://lnkd.in/ezHvCASP Colin RichardsonBrian EdwardsZach MaguireEmer Geissel

Despite being someone from the regions, I can recognise the importance of the “Square Mile” and the City of London Corporation, Chris Hayward. That said, welcome to the world in which we in the regions have operated for many a year! To that end, I would suggest speaking to those with great experience on how to re-generate Urban areas that have seemingly lost their lustre, in a world that is mired in #political expedience and further increasingly moves to #flexibleworking. For this I can recommend no one better than Michael Parkinson. How ironic if you learned a thing or two from the Liverpool City Region Combined Authority area which was left to rot by successive governments after the 2nd world war… Admittedly for a long time we didnt do ourselves any favours - classic Liverpool is when Boris Johnson stands up in the House of Commons during Covid to praise our efforts only for the very next day the leader of the council Joe Anderson to be arrested on suspicion re land deals. You need buy in from all sides to get to where you want to go. In Liverpool we call it a “can do” attitude… Despite the football chant that asks “if you know your history” etc…thankfully we do. It’s why I will support your efforts. It’s why I’m determined to ensure that the late BRIAN WINTERFLOOD who’s dream was to see a piece at Museum of London reflecting the London Stock Exchange heritage is acknowledged, why we will hopefully do the same at National Museums Liverpool. #trust and #respect. They’re not just old fashioned words although it feels like it sometimes. I think it’s not too much to ask is it? ✊✌️👍🕊️ #history #heritage

Calling St Helens businesses! For our Liverpool City Region series, we will be delving into each of the region’s boroughs, exploring the growth sectors, transformative developments and key regional news shaping the future of the borough. Following on from our Wirral feature last month, we’re now turning our attention to St Helens. The town centre is undergoing a once-in-a-lifetime regeneration project driven by St Helens Borough Council and the English Cities Fund with plans for a new market hall, grade A office space, new homes and improved public spaces. Another key development is Parkside East, a 2.5million sq ft logistics scheme, including a new rail freight terminal being brought forward by Tritax Symmetry. We will provide an update on the key developments and regeneration plans set to transform St Helens, hearing about the vision for the town. With a rich history in the glassmaking trade, how is St Helens ensuring it stays at the forefront of this industry? The £45m Glass Futures facility in St Helens will support the industry in creating carbon-neutral glass and has the potential to be an ‘epicentre for decarbonisation’, according to metro mayor Steve Rotheram. We will explore the opportunities in glassmaking and other key sectors in the borough. Email simon.keegan@newsco.com

The closure of Target's East Harlem location at the East River Plaza marks not just the loss of a popular retail destination but also poses significant questions about the plaza's future and impact on the local retail landscape. The plaza, developed with substantial tax subsidies on the promise of revitalizing a working-class area, now faces a significant vacancy with Target's departure, which occupies about a third of its space. This closure not only affects local shopping options but also results in the loss of 293 jobs. Concerns are raised about the ongoing benefits of the subsidies provided to the plaza and the actions of its landlord, Blumenfeld Development Group, in the wake of Target's exit. The situation sheds a spotlight on the broader challenges in New York's retail sector, with the city's overall retail vacancy rate exceeding 4%. The closure of Target in East Harlem's East River Plaza not only signifies a substantial shift in the local retail landscape but also brings into focus the rich history and cultural identity of the neighborhood, particularly highlighting its Italian heritage. This area, once vibrant with Italian immigrants, has seen various transformations, symbolized by notable locations such as Rao's restaurant, a culinary institution since 1896 and a testament to the Italian community's enduring legacy. Rao's, with its exclusive seating and celebrity patrons, stands as a beacon of the Italian-American experience in New York City. The narrative of East Harlem extends to other significant sites, such as the Georgian-style building that once housed Benjamin Franklin High School, reflecting the area's educational and architectural evolution. The area's industrial past, marked by cabinet maker George Frank's shop, showcases the neighborhood's diverse economic activities and its transition over time. Mark Levine, the Manhattan Borough President, recognizes the potential in these historical fabrics, advocating for the repurposing of vacant and underused buildings to address New York's affordable housing crisis. His inclusion of 311 Pleasant Avenue, a building seized by the city for unpaid taxes, on a list of sites for potential development into affordable housing units, underscores a forward-thinking approach to preserving the neighborhood's character while meeting contemporary needs. #EastHarlem #TargetClosure #RetailVacancy #UrbanDevelopment #HistoricNYC #AffordableHousing https://lnkd.in/edsRSbUT

Fast-growing “fine fast food” business Yolk has secured a site in the City for its next opening in the capital. The six-strong business, which earlier this year opening its first “double decker store” in The Strand, has secured a site at 150-151 London Wall, for an opening later this summer. Speaking to Propel last autumn, founder Nick Philpot said the business, which began as a pop-up in 2014, had worked hard to build strong foundations for scaling the business. It also plans to open a site in Victoria this year. He said the group’s then five sites were profitable and the business was approaching £5m in run-rate revenue. Philpot said: “We are about to close an equity funding round, enabling us to open three more sites within six months. These will be all larger-format sites in The Strand and Victoria, which are great mixed-use locations, and London Wall – a super-busy, five-days-a-week, office-led location. Our target is to reach 25-plus sites by the end of 2026. We really believe in our potential to thrive in a number of location types – central London, neighbourhood London, travel hubs and regional city centres. We’ve worked hard to build strong foundations for scale, including a robust site model. New openings turn a profit swiftly and generate attractive returns. Sites range from 400-1,200 square feet and deliver £13,000 to £25,000 per week.” 👉 Find out the latest hospitality news first by signing up to the Propel email newsletter for free, here: https://lnkd.in/g_vS_S7

This morning, Crain's Chicago Business published a long article by reporter John Pletz of what Chicago has to do in rebranding itself. A lot of my good friends and business partners are being quoted in here, including Andrea Zopp, Glen Tullman, Don Welsh, and Steve Koch, all who I respect tremendously. There are three key take aways for me after reading the article and listening to everyone's perspective: - We can't take Chicago's position as a global city for granted, we have to fight for it every day and we have to continue reimagine what it means to be a vibrant global city in today's world, not just for downtown but for all our neighborhoods. Reimagining and changing the make up of our city is the only constant of Chicago's history. And it's the only formula to stay relevant and thriving in today's global competitive landscape for talent, businesses, and capital investments. - Not one group of constituents alone can achieve anything meaningful or substantial. Only the collaborative and focussed effort of elected officials, business leaders, community organizations, and the philanthropic sector can achieve real positive, lasting, and inclusive change. - The fundamentals in Chicagoland, from a strong education system to comparatively affordable housing, a vibrant arts & culture & culinary scene, our welcoming and inclusive attitude, climate resiliency and many other factors, position us well for the future. The future doesn't just happen, it's been created every day. By all of us.