Almost €930 Million Invested In Commercial Property In Ireland In First Three Months Of 2018
April 5th, 2018 – Property consultants CBRE Ireland have today released investment spend figures for the Irish market during the first quarter of 2018, which show that almost €930 million was invested in commercial property in Ireland during the first three months of the year. Almost three quarters of Irish investment activity in the first quarter occurred in the Dublin market although CBRE say that investors are now also exploring good investment opportunities in other cities such as Cork with 11% of spend in Q1 occurring in this city.
Following 2017 which saw more than €2.5 billion of assets traded in the Irish market, Q1 2018 has seen continued activity in the Irish investment market with 50 individual transactions with a value of more than €1 million totaling almost €930 million between them signed in the three-month period. Some of these transactions carried over from last year and several were conducted off-market. There were three investment transactions extending to more than €100 million in value signed in Q1, which boosted spend in the quarter. Offices accounted for more than half of investment spend in the period although it was interesting to note than 14% of spend in Q1 was accounted for by the emerging Build to Rent/Multifamily sector.
“The supportive economic backdrop and strength of underlying occupier market activity in Ireland continue to attract investors from a range of jurisdictions, with Ireland’s comparatively attractive yield profile also encouraging investors to consider opportunities in the Irish market. Although sourcing core product and deploying capital remains challenging, a number of assets have been formally released for sale in the last few months (both on and off market) while others are being prepared for sale later in the year, which should alleviate supply pressures somewhat. A very clear dynamic is the focus on ‘alternatives’. We expect to see continued strong demand for alternative investment opportunities over the coming months with any Build-to-Rent opportunities that are brought to the market likely to be particularly keenly bid”.
About CBRE Group, Inc.
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