Property owners urged to unlock potential of vacant buildings and upper floors
Cillian Ferry
Property owners, investors and developers across Cork are being urged to explore the potential of vacant and underused buildings as a practical way of increasing the city’s housing supply.
A new event, Unlocking Cork’s Property Potential – Turning Vacant and Underutilised Buildings into Valuable Homes, will take place at the Clayton Hotel, Lapps Quay, today, Thursday 15 October.
Hosted by the Cork Business Association (CBA), the event will provide attendees with practical information on the grants, incentives, finance and professional supports available to help make property refurbishment and conversion more viable.For eligible projects, funding of up to €150,000 may be available, and attendees will hear directly from experts involved in property, local authority supports, energy efficiency and finance about what is available, who qualifies and how the process works.
With Ireland continuing to face significant housing pressures and Cork’s population expected to grow substantially in the coming years, the event will focus on one of the most immediate opportunities available, making better use of properties and upper floors that are currently vacant or underutilised.
Michael Powell of Powell Property and the Cork Business Association executive will provide an overview of the grants and supports available, including eligibility and key considerations when assessing a potential project.
John Crotty from Cork City Council’s Vacant Homes Team will explain the local authority supports available and guide attendees through the process of accessing relevant grants.Stephen Shine of Shine Energy will outline the energy efficiency grants and supports available through SEAI and explain how these can contribute to the overall viability of a refurbishment project.Joey Sheahan of MyWealthManagement.ie will look at the finance options available to property owners and investors and the criteria that need to be considered when funding a vacant property or upper floor refurbishment.
The event will be hosted by Dave O’Brien of the CBA and Xeinadin and will conclude with a panel discussion, giving attendees an opportunity to put questions directly to the speakers.
Michael Powell said: “There is a huge opportunity sitting in plain sight across Cork city. We have vacant properties and underutilised upper floors at a time when the demand for housing is incredibly strong. However, for many property owners, the process of converting a building can appear complicated, and there can be uncertainty around grants, finance, planning, energy requirements and the potential return on investment.”
The event will also provide an opportunity for attendees to network with property owners, investors, developers, business owners and key stakeholders working in Cork’s property and regeneration sectors.
For the CBA, bringing vacant and underutilised buildings back into productive use is an important part of creating a more vibrant and sustainable city centre.
CBA President Clara O’Neill said: “Cork is growing, and we need to make the most of the buildings and spaces we already have. Every property that is successfully brought back into use has the potential to provide much-needed accommodation, strengthen the city centre and bring additional footfall and activity to surrounding businesses.”
Joey Sheahan noted that the event isn’t simply a conversation about the housing problem, but an event to identify opportunities and showing property owners that they can take action.
Unlocking Cork’s Property Potential takes place at the Clayton Hotel, Lapps Quay, on Thursday 15 October. Networking will take place from 7.30am, with the event running from 8am to 9.45am. Admission is free for Cork Business Association members and €20 for non-members.