More Than €155 Million Transacted In The Irish Development Land Market During The First Quarter Of 2019
April 2nd, 2019 - Property consultants CBRE Ireland have today released figures for the volume and value of development land traded (both on and off-market) in the Irish market in the first quarter of 2019, which shows that 16 land sales have occurred in the year to the end of March, totalling more than €155 million between them. This compares to 37 transactions totalling more than €167 million completed in the same quarter last year - a year in which almost €1.5 billion of land sales occurred in the Irish market as a result of the completion of some strategic land sales.
Activity in the first quarter of 2019 in the development land sector has been brisk with considerable off-market trading underway and a focus on closing out sales that for whatever reason didn’t conclude last year. As the issue of viability and affordability become increasingly topical, we have witnessed a notable increase in demand for residential sites along key transport corridors of late with particularly strong appetite for good sites along the M1 and M7 road corridors at present.
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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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 150 employees, we work with occupiers, investors and developers of office, industrial and logistics, 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