Ballymore Group

Ballymore Group is an Ireland-based international property development company. The majority of the company's employees and business activities are located in the UK.

Ballymore Group
Private
IndustryProperty development
Founded1982
Headquarters
Ireland 
Key people
Sean Mulryan (Chairman and CEO)
Websitehttp://www.ballymoregroup.com

History

Ballymore Group was founded in 1982 by Sean Mulryan, who is the chairman and the chief executive (CEO).[1] Ballymore Group's UK managing director is John Mulryan, who is a son of the founder.[2][3]

Ballymore are seen as one of the Irish property companies who managed to do well despite the recession. In 2016, their UK profits were recorded at €217m. It was reported in the Irish Independent that these were "exceptional gains" and had resulted in almost a threefold profit increase.[4]

In 2016, the firm won Large Developer of the Year at the RESI Awards and also won Property Developer of the Year at the Evening Standard Awards.[5][6]

Developments

Ballymore projects include Pan Peninsula, New Providence Wharf, Wardian London and Embassy Gardens, Nine Elms, which are all well known developments in London.[7] Several of the developments have impressive features. Embassy Gardens Nine Elms saw a “world first” with a sky pool that was suspended 10-storeys high between two apartment blocks, allowing residents to swim between the buildings.[8] The pool is designed to appear as though it floats in the air and uses 20 cm-thick glass so that swimmers have uninterrupted views of London, including the London Eye and the Palace of Westminster.

The 2,000-home complex is near Battersea Power Station and positioned alongside the new US Embassy.[9] At the time of its launch, former Mayor of London Boris Johnson described the Embassy Gardens project as “possibly the most important regeneration story in London and in the UK over the next 20 years” [10]. In 2018, the Embassy of the United States, London relocated from Grosvenor Square to Embassy Gardens. The land on which the new embassy stands was sold to the US government by the Ballymore Group after a deal was reached in 2008 [10]. As well as the US embassy, the Netherlands relocated their embassy to the area. Publisher Penguin Random House also announced in 2018 it had signed an agreement to take a lease for One Embassy Gardens.

New Providence Wharf changed the skyline east of Canary Wharf.[10] Meanwhile, Wardian London features more than 100 different species of exotic plants and its own indoor and outdoor landscaping service. The development features more than 100 different species of exotic plants and its own indoor and outdoor landscaping service. The two towers, 55 and 50 storeys, boldly remake the skyline of Canary Wharf, with all of the 764 apartments featuring balconies and private gardens. Wardian London is due to open in 2020.[11]

Ballymore is also responsible for a multi-million pound Canning Town development called City Island. English soprano Laura Wright sang at the launch event in November 2016.[12] The 12-acre island site will be home to the London Film School and the English National Ballet, with 1,000 new homes as well as shops and restaurants.[13][14] The development has been inspired by Manhattan and is expected to become a cultural hub.[15][16]

In 2019, English National Ballet will move from its 40-year-old home at Markova House in South Kensington into a new 8,600 sq. m facility, four times the size of its existing home. There will be a 300-seat theatre space, dedicated education spaces, rehearsal studios and rehabilitation facilities.

The development was considered one of London's most ambitious regeneration projects and it won the top prize at the 2017 London Evening Standard New Homes Awards. It was given the Grand Prix award and trophy for best regeneration project at the ceremony, which took place in The Dorchester hotel.[17]

Ballymore is involved with the regeneration of The Royal Docks, which is seeing £6billion of private sector investment.[18] It is building Royal Wharf between the river and Silvertown Way, which will have a 550-yard river frontage and include over 3000 homes, two parts and a new school.[19] In April 2017 Investec demonstrated their support for Ballymore's development at Silvertown by providing a loan of £18m.[20] In January 2019, it was reported that construction work has started on a new riverboat terminal, Royal Wharf Pier. This will allow Thames Clippers to provide a service to the more than 10,000 residents who will live in the 3,385 riverside properties being built by Ballymore in the Royal Docks regeneration area. Royal Wharf has been plagued by problems, with many doors at the development consistently broken, leading to protests from residents at the development.[21]

In May 2017 it was announced that the group was working in partnership with the Hong Kong Chinese Kwok Family, who are controlling shareholders in Sun Huang Kai Properties.[22] The partnership involves a project in London, close to the Thames that is the largest Hong Kong investment since the UK decided to leave the EU. In October 2018, it was reported that this joint venture would deliver a £1bn skyscraper scheme in the Isle of Dogs in London's docklands. The Millharbour Quarter will comprise a total of 1,513 homes at Millwall Dock.

EcoWorld Ballymore became the first developer in London to encourage buyers by offering to make a charity donation following purchase rather than giving other benefits. During June 2017, the developer committed to giving £10,000 to the JDRF charity,[23] which funds research into Type 1 diabetes, for every home sold in the Embassy Gardens and Nine Elms developments. Theresa May is a patron of the charity.

In 2016, it was reported that Ballymore would launch a €700 million development in Dublin's docklands. The Dublin Landings waterfront regeneration project includes 100,000 sq. m (1,076,391 sq. ft) of office, residential and retail/leisure accommodation, of which 22,019 sq. m (237,000 sq. ft) will be residential accommodation.

Upon completion, Ballymore's Dublin Landings Residential' will comprise approximately 268 residential units and will include numerous on-site resident amenities including a concierge service, landscaped gardens, a private gym, business lounges and 210 basement parking spaces. In 2019, it was reported that Ballymore and its commercial partner Oxley Holdings had agreed to sell all 268 luxury apartments at Dublin Landings to Greystar for €175.5m.[24]

There are five Grade A office buildings on the Dublin Landings complex. No 1. The Landings has been let to the NTMA and sold to German institutional investor Triuva. No 2. The Landings has been let to WeWork and sold to the REIT company JR AMC while the Central Bank of Ireland acquired two of the remaining three office buildings - No 4, The Landings, and No 5, The Landings.

Ballymore is also involved in delivering a large mixed-use scheme on 2.8 hectares at Dublin's Connolly station in Dublin's IFSC and a €31.3 million housing development in Naas.[25][26]

List of Notable Developments

See below a list of notable Ballymore developments by country

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References
  1. "London Evening Standard names Ballymore as Property Developer of the Year | Ballymore". www.ballymoregroup.com. Retrieved 7 February 2017.
  2. "Docklands project brings Ballymore back to centre stage". The Irish Times. Retrieved 28 April 2017.
  3. Enfield, Laura (3 April 2017). "Click here to see a video of London City Island". thewharf. Retrieved 28 April 2017.
  4. "Exceptional gains push Sean Mulryan's Ballymore UK profits to €217m - Independent.ie". Independent.ie. Retrieved 12 January 2016.
  5. "Ballymore". Retrieved 18 November 2016.
  6. "Evening Standard Business Awards: Winners revealed". Evening Standard. 30 June 2016. Retrieved 6 February 2017.
  7. "Evening Standard Business Awards: Winners revealed". Evening Standard. 30 June 2016. Retrieved 21 March 2017.
  8. "It's a world first in Nine Elms: sky pool to be suspended 10-storeys high between two apartment blocks". Homes and Property. 18 August 2015. Retrieved 21 March 2017.
  9. "Luxury flats launch overlooking world's first glass-bottomed 'sky pool' suspended 10 storeys up". Homes and Property. 30 May 2017. Retrieved 2 June 2017.
  10. Massey, Jon (11 November 2016). "Final homes at New Provicence Wharf from £1,475,000". thewharf. Retrieved 21 March 2017.
  11. Massey, Jon (28 April 2017). "What do Wardian London's penthouses have to offer?". thewharf. Retrieved 8 May 2017.
  12. "Star-studded party marks opening of London City Island in Canning Town". thewharf.
  13. "London Film School joins shift to east by cultural institutions". London Evening Standard.
  14. "Potential new location for The London Film School". The London Film School.
  15. "New east London development". Financial Times.
  16. "The Line co-founder Megan Piper explains why London City Island is a treasure trove for creatives". Evening Standard.
  17. "London City Island picks up top prize at New Homes Awards 2017". Homes and Property. 19 May 2017. Retrieved 22 May 2017.
  18. Broadbent, Giles (30 March 2016). "£6bn in private investment pumped into Royal Docks". thewharf. Retrieved 22 May 2017.
  19. "This Zone 3 Crossrail hub is set to get 10,000 homes and two new town centres". Homes and Property. 6 February 2017. Retrieved 22 May 2017.
  20. "Ballymore takes first development loan since exit from Nama - Independent.ie". Independent.ie. Retrieved 22 May 2017.
  21. https://www.royalwharfnews.com/posts/ballymores-royal-wharf-plagued-by-broken-doors-for-over-18-months
  22. Li, Sandy. "Hong Kong's Kwok family joins Ballymore in £500m London property project". South China Morning. Retrieved 16 May 2017.
  23. "London flats developer tempts buyers with £10,000 charity donation". London Evening Standard. 25 May 2017. Retrieved 2 June 2017.
  24. "Work begins on next phase of €31.3M housing development in Naas that will deliver almost 250 homes". Kildare Now. Retrieved 4 July 2017.
  25. Citation error. See inline comment how to fix.
  26. Citation error. See inline comment how to fix.
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