Builders cool on Foxrock Golf Club
A Dublin business consortium may well be the mystery bidder behind the planned purchase of Foxrock Golf Club for around €400 million.

Speculation has focused on a number of big builders who live close to the 50-acre course. The Cosgraves and two Foxrock residents, Michael Cotter of Park Developments and Joe O'Reilly of Castlethorn, have all denied that they are about to flash big money for what will be a low density site. It is also considered unlikely that David Arnold, whose home like Michael Cotter's backs on to the site, is interested either.

The truth is that many of the most successful builders regard the planned payment of €400 million as excessive, particularly as councillors in Dún Laoghaire-Rathdown have recently moved to strengthen the protection of green spaces. The poor entrance to the course is also considered a considerable disadvantage and, even if it is eventually bought for development, it will be a low density scheme. Those in the know are well aware that there are more legal eagles per acre in leafy Foxrock than either in Dublin 4 or 6. So who does that leave in the running for the site? Liam Carroll has the loot but will be hard pushed to develop even half the sites in his portfolio. The consensus seems to be that it is probably a consortium with ambitious plans for luxury housing and top-end shops to cater for well heeled local residents.

Planning claims
Even when they win, some developers can feel misunderstood. Although Avenue Homes, a subsidiary of the Naus Group, got the thumbs up from An Bord Pleanála for 150 apartments on the grounds of Chesterfield on Cross Avenue in Blackrock, Co Dublin, Naus chief executive Mike Geoghegan is bemused by the claims of local residents groups that they weren't consulted about the development despite a written request. He says he's more than a little tired of all developers being portrayed as monsters trampling over the rights of local people. "We were willing to talk to anyone about the scheme and were surprised when we heard the residents held an open meeting in a local pub about the scheme and we weren't invited." He said the development at Chesterfield, the former Blackrock home of the late Tom Roche, who co-founded Roadstone, has taken three years to get planning permission. "I could understand if it's a sensitive site but, if it's serviced and has the appropriate zoning, I can't see what the problem is. A lot of developers are now looking to the UK and further afield because a combination of price and planning difficulties are putting them off."

SHOK . . . and awe?
What is the longest estate agency name in Ireland? Brady McDonagh Casey Real Estate Alliance would give most a run for their money. Sherry FitzGerald O'Donovan Daly and Property Partners Murphy Mullan Ward are close behind. Spare a thought for the newspaper hacks who have to fit these every-lengthening agency names into a shortish piece. When joint agents are involved, there is scant space left over for the main message. Now Hamilton Osborne King has been rebranded as Savills Hamilton Osborne King following from Savills acquisition of HOK last year. Wouldn't SHOK have been a more catchy brand name?

Parking mad in Sligo
With increasing congestion and uncompromising clampers on the streets, the value of parking spaces in central residential developments has risen sharply. In many Dublin city centre schemes parking costs a lot extra. In one Dublin 8 development last year each space cost €50,000. In another near St Patrick's Cathedral they cost €40,000. At Heuston South Quarter the price per space was €35,000. It now appears that the rise in value of parking spaces has reached Sligo. Apartment buyers at a converted mill in the centre of the town have to fork out €35,000 for a parking space. Rigorous enforcement of the local pay-and-display parking system and a lack of nearby spaces were reasons cited by the local agent as to why the cost per space is so high. With traffic in towns and cities getting worse, one imagines that the rising values of parking spaces will continue. At this rate you might need a separate mortgage to buy one!