August 2019 Ireland Snapshot

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The Irish economy continues to perform well, although the rising pitch of Brexit discourse and uncertainty is undermining what would potentially be even stronger growth. In Q1 19, real GNP was growing at a 6.3% y/y rate with a steady contribution from personal expenditure growth (2.9% y/y) and net export growth (11.5% y/y). Ignoring recent volatility in IP transfers and other intangibles, fixed investment in building and construction (a surrogate for the real economy) is steady at a 10.2% y/y rate, suggesting that Irish businesses have some resilience to Brexit uncertainty. This is also confirmed by June’s Irish composite purchasing manager index (54.4) suggesting that the short-term growth trajectory remains relatively strong, ahead of the eurozone (52.2) and well ahead of the UK (49.7), which is buffeted by uncertainty. Irish GDP is forecast to grow for the next five years, but the official rate will slow after distortions introduced in the mid-teens by BEPS (base erosion and profit shifting) fade. This is reflected in weaker fixed investment. Likewise, net exports are forecast to slow due to a combination of disrupted global trading conditions, weakness in China and the eurozone, and weaker sterling. Despite these worries, Ireland is forecast to outperform the advanced economies (G7) with an annualised growth rate of 2.3% pa in the five year period to end-2023, compared to 1.7% pa for the G7 as a whole.

Ireland Snapshot20198

August 2019 Ireland Snapshot

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Related Experts
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Declan Stone

Managing Director

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Declan joined Jackson Stops (now Colliers International, Dublin) in 1991 and was appointed Managing Director in 2005. He is recognised as a senior industry figure in the Irish market with expertise and in-depth experience representing major corporate clients, project and development assembly (greenfield to finished product), major investment transactions and international retailer representation.

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Michele McGarry

Director

Dublin

Acknowledged Investment marketplace expert with extensive experience in the Irish investment market.

Currently representing a number of domestic & international investors (including Funds, Property Companies & Private Equity Clients) seeking investment & development opportunities from €1M - €500M+.

 

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Nick Coveney

Director Business Space

Dublin

 

Nick joined Colliers Jackson Stops in 1995 (now Colliers International) and was appointed as An industry specialist in the Office, Industrial and Development sectors.
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Paul Finucane

Director Business Space

Dublin

Paul joined Colliers International in 2004 and was made  a Director of the company in 2014.  Before joining Colliers Paul worked as an Asset  Manager for Allied Irish Banks Plc. He now has over 18 years experience in the Irish commercial property market.

 

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Aiden McDonnell

Consultant

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Aiden joined jackson Stops McCabe in 1973. After training as a Surveyor, Aiden's primary activity was in the area of Professional Services adn Commercial Agency. This latter role expanded into Consultancy Services for developers advising on innovative ways to provide business space. In 1987 Aiden set up his own business with Centrum Invest, a Scandinavian company specialising in planning shopping schemes, and advising retailers on expansion strategies.

Aiden returned to Colliers in 2004 as an Associate Director adn Head of Retail.

From late 1980's Aiden has been active in the Retail Property Market, providing consultancy advice for town-centre and shopping centre development, including market studies to determine their optimum scale, tenant mix and profile. He has provided  extensive work for leading retailers in acquisition, relocations and disposals.

Increasingly, Aiden has become involved in Destination Consulting, particularly the early planning of large-scale city development. These often include the retail, leisure, sport, tourism, heritage and cultural sectors, where the added value comes from bringing clarity to a project's proposition, its market positioning and branding, to create a holistic approach and solution.‚Äč

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Weldon Mather

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Weldon is a Chartered Global Management Accountant, an experienced Hotel Asset Manager, a former Hotel General Manager and has over thirty years experience within the hospitality  industry, starting work in his family hotel business. Work experience: Radisson/Movenpick Lausanne (CH), Forte Hotels (UK), Eliott Hotel (Gibraltar), Davenport Hotel (Dublin) and a wide range of branded & independent hotels in Ireland and the UK as a hotel asset and project manager.

Weldon is a member of the Hospitality Asset Managers Association Europe (HAMA) and  also consults to Failte Ireland (National Tourism Development Authority) clients as a business mentor, and with hotel owners, in Ireland and the EU. He is an expert hotel witness in legal & arbitration proceedings and also consults on SaaS based systems for the hospitality and tourism industry.

Weldon attended Shannon College of Hotel Management, Technology University Dublin and Cornell University. He trained in Switzerland, the UK, USA and Australia. Qualifications: FCMA, CGMA, MBA, MSc, BA, Adv Cert Hotel Real Estate & Asset Management. Weldon is an industry advocate and has a wide range of industry, private equity & investment clients and acts as an owners' representative.

 

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Emmett Page

Director

Dublin

Emmett is Director and Head of Valuation & Advisory Services in Ireland.

He is responsible for the oversight and development of the Valuation, Lease Advisory, Rating, Compulsory Purchase and  Hotels/Lesiure  functions.

Emmett  joined Colliers International as an Associate Director in 2015, he has previous exerience in a client side Asset Management role with a large NGO with a portfolio of over 250 mixed use assets. He holds in excess of 20 years industry experience across valuations, expert witness, landord and tenant, rent reviews, commercial agency and development. 

 

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Marcus Magnier

Director

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Head of Residential, Development and Country Homes Departments, with over 40 years' experience advising on, valuing and selling Residential and Country properties as well as major Hotel & Resorts.

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