Dublin Industrial Take-Up In The First Half Of 2015 More Than Double The Same Period Last Year
Dublin, July 7th 2015 – Property consultants CBRE today released industrial take-up statistics for Q2 2015 showing that a total of 98,150m2 of industrial sales and lettings were signed in Dublin in the second quarter of 2015. This brought total take-up in the Irish capital in the first six months of 2015 to 184,428m2 or almost 2 million square feet, which is a very strong volume of activity for a six month period. According to CBRE, a total of 87 individual industrial transactions signed in Dublin during the first six months of the year. This is more than double the volume of activity recorded in this sector in Dublin in the first half of 2014.
According to CBRE, prime headline industrial rents remained stable at approximately €70 per square metre during Q2 2015 having increased to this level last quarter but rents of approximately €75 per square metre are anticipated later in 2015 as the supply of modern accommodation dwindles further. Of the €1.66 billion invested in Irish income-producing assets with a value of more than €1 million in Ireland in the first half of 2015, approximately 1% comprised industrial investments. According to Marie Hunt, Head of Research at CBRE Ireland, prime industrial yields in the capital are stable in the order of 6.5% having contracted by 25 basis points earlier in the year.
In total, 26% of total take-up in the industrial and logistics sector in Dublin during Q2 2015 emanated from letting activity while 72% of Q2 take-up in this sector comprised sales skewed by a number of large sales which completed in the last three month period. Transactional activity in the industrial sector during Q2 2015 was primarily focused on the Dublin South West (N7) corridor, which accounted for 33% of all sales and lettings completed in Dublin in the three month period. A further 29% of the industrial accommodation that either let or sold in Dublin during the quarter was located along the Dublin South West (N81) corridor.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), 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 2016 revenue). The company has more than 75,000 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.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.