Take-Up Of Almost 250,000m2 In The Dublin Industrial Market In 2017
Dublin, January 9th 2018 - Commercial property consultants CBRE Ireland (who next week will release their Outlook 2018 report) today released statistics on the volume of industrial & logistics take-up achieved in Dublin during 2017.
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“Transactional activity in the Dublin industrial & logistics sector in 2017 was broadly similar to 2015 and 2016 but would have been considerably higher if there was suffiient modern accommodation available. This situation will hopefully alleviate in 2018 now that speculative development has commenced”.
Take-up in the Dublin industrial & logistics sector reached 79,253m2 in Q4 2017, bringing total take-up in the year to 249,036m2 - broadly similar to the volume of take-up recorded in this sector in 2016
Take-up continued to be constrained by a scarcity of modern premises in core locations
Lettings of industrial buildings accounted for 53%
In total, there were 41 industrial transactions signed in Dublin in Q4 2017 of which 22 comprised lettings and 19 comprised sales
Transactional activity in the industrial sector during Q4 2017 was primarily focused on the Dublin North West (N3) corridor which accounted for 33% of Q4 take-up
Prime industrial rents in the capital remain stable at approximately €99.50 per square metre at the end of Q4, having increased by 6% during 2017
There was demand for more than 86,000m2 prevailing at the end of Q4
Industrial properties accounted for 4% of total investment spend in Q4 2017 and 6% of investment spend in Ireland in the period
Prime industrial yields remain stable at 5.5% at the end of Q4
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
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