105 Development Land Sales Completed In The Irish Market In The First Nine Months of 2018
October 9th, 2018 - Property consultants CBRE Ireland today released figures for the volume and value of development land traded (both on and off-market) in the Irish market in the first nine months of 2018, which shows that 105 transactions totalling almost €940 million signed in the nine months to the end of September. This is considerably more than the €748 million annual average spent on development land in Ireland since 2014.
Activity has been brisk in the development land sector of the market over recent months with strong demand prevailing from both domestic and international bidders. In addition to a notable increase in the volume of stock (including some sizeable land parcels) coming to the market in recent months, several large transactions have completed in Q3 including the sale of Project Waterfront in Dublin Docklands for approximately €113 million, which has boosted numbers. An increase in the volume of land coming to the market is welcome considering the supply shortages inherent in many sectors at present, most notably in the housing sector.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 135 employees, we work with occupiers, investors and developers of office, industrial and logistic, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie