Investment In Irish Commercial Property Reached €4.5 Billion In 2016
Commercial property consultants CBRE Ireland released statistics on Friday, detailing the volume and value of investment in Irish commercial property in 2016 and 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.
Associate Director of Investment Properties Emma Courtney said: “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.