Investment In Irish Commercial Property Reached €4.5 Billion In 2016
Dublin, Jan 6th 2017 – Commercial property consultants CBRE Ireland today released statistics on the volume and value of investment in Irish commercial property in 2016, showing that a total of €4.5 billion was invested in Irish CRE in the 12 month period. This is a significant result considering it excludes commercial properties traded as part of loan sales and also investment transactions that extended less than €1 million in value.
Investment spend surprised on the upside during 2016, reaching €4.5 billion in 223 individual transactions, albeit skewed by a number of large transactions including the sale of both Blanchardstown Town Centre and Liffey Valley Shopping Centre as well as large office buildings such as the PWC headquarters in Dublin Docklands. Approximately half of the investment spend in the Irish market last year comprised retail properties specifically.
CBRE Ireland will release their Outlook 2017 report on January 17th focussing on their expectations for the Irish CRE market for the year ahead.
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.