Dublin,
31
March
2014
|
00:00
Europe/Dublin

More than half of last years investment spend completed in first three months of 2014

Dublin, 1st April 2014 – Commercial property consultants CBRE today released statistics for commercial property investment spend in the first three months of 2014, reporting that more than half of the volume of investment activity in the Irish market in 2013 has been signed in the first quarter of 2014 alone. According to CBRE, a total of 37 investment transactions of more than €1 million in value were signed in the Irish market during Q1 2014, totalling €938.5 million, compared to a total spend in the Irish market in 2013 of €1.78 billion in 96 individual transactions. These figures exclude loan sales activity. There were more transactions signed in the Irish market in the first three months of 2014 than during the entire 12 months of 2012.

According to Marie Hunt, Executive Director and Head of Research at CBRE Ireland, “The first quarter of 2014 has been extremely busy in the Irish commercial property market, fuelled by a significant carryover of transactions from 2013, many of which have concluded during the first three months of 2014. Demand in the investment sector continues at pace with no let-up in demand from domestic and international investors for the various assets and loan portfolios being released to the market for sale”.

According to Johnny Horgan, Head of Capital Markets at CBRE Ireland, 11 of the 37 investment transactions over €1 million in value signed in the Irish market during Q1 2013 occurred outside of the core Dublin market. However, 94% of the investment spend by value in the period was focussed on Dublin properties. As predicted in the CBRE Outlook 2014 report at the beginning of the year, there has been more focus on retail investment during 2014. Aside from the recent sale of a 72.8% share of Liffey Valley Shopping Centre in West Dublin, there have been a number of other retail transactions signed in the quarter. Indeed, 18 of the 37 investment properties signed during Q1 2014 comprised retail properties, which between them accounted for more than 33% of the value of investments traded in the period.

A further 28.4% of commercial investment transactions completed during Q1 2014 comprised office properties while the largest asset traded in the period (the acquisition of Central Park by Green REIT plc for more than €311 million) is classified by CBRE as a mixed-use transaction and as a result, mixed-use accounted for more than 34% of the value of investments traded in the 3 month period according to the property consultants.



CONTACT: Marie Hunt – 00 353 (0)1 618 5543 / 00 353 87 2727115 or e-mail:marie.hunt@cbre.com

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 (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. 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 130 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, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie./ni