Derelict Ireland
To address the derelict building crisis, Ireland needs to restore buildings and also reimagine the operating model of cities
At Single Step Ventures our business model focuses on existing building stock. Our value proposition looks to identify ‘beaten up’ buildings that require major refurbishment. We thoroughly renovate these buildings, replacing / upgrading all major building systems and apply high quality finishes. It's through this process that we create value for our investors.
When walking through any major city, dereliction is apparent. I spend a lot of my free time either running or walking around London, one of the wealthiest cities in the world, and dereliction is apparent there.
When walking through the great cities of Ireland, Dereliction is more systemic than apparent. It's an apparent issue because it’s obvious that there are many buildings not in use and in extremely poor state. But, it becomes a systemic issue in Irish cities because of the sheer amount of habitable square footage available in our existing commercial buildings not in use. This issue is only accelerating due to the continued digitalization of the economy.
The grass roots ‘Derelict Ireland’ campaign led by Jude Sherry and Frank O’ Connor have done exceptional work getting the dereliction issue into social consciousness and forcing the power brokers in government to take action.
However, to truly address this issue, along with restoring our derelict buildings, we also need to reinvent the operating model of our cities, and define a regulatory framework that supports it. An obvious improvement is to make districts both commercial and residential, which should help ensure that existing square footage is optimized.
Ireland requires another step towards modernity. Thankfully, we have other great European cities to use as a reference point and guide.
Rob Heffernan
