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Irish Investment Market Q3 2020

Kevin Donohue • 29/10/2020

Unsurprisingly, the on-going effect of COVID-19 on the Irish commercial property market has slowed investment activity relative to previous periods.

However, despite such fallouts, Irish commercial property assets recorded turnover of €251m in direct investment sales in Q3. Against the backdrop of uncertainty, the solid investor demand also saw a number of forward commit transactions take place, which when combined brings the sum to €680m in the three-month period.

In the 9 months to September, direct investment sales totalled €1.15bn across 64 transactions, representing a significant decline on the same period in 2019 where €2.4bn was recorded. A sectoral analysis of the Irish investment market from January to September 2020 reveals office assets attracted the highest share of investor interest, 69%. Followed by residential assets accounting for 11% of turnover.

Dublin trumped regional Ireland in terms of investor interest capturing 97% worth of total turnover in the year to date. Furthermore, appetite from international investors remains strong with overseas capital accounting for €892m of total spend turnover, with international investors particularly active in the higher end of the market.

The most significant deal in terms of value in the quarter was the sale of the Dublin office asset located at 2 Burlington Road, acquired by KGAL for €94m.

As the impact of COVID-19 continues to unfold, investment in Irish commercial assets remains resilient at present. While quarter two saw transactions put on hold or delayed, the most recent quarter has witnessed investors’ focus on a flight to quality with transaction activity driven by a strong appetite for prime office assets, particularly those in core locations.

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Dublin Industrial & Logistics Market Q4 2020

The Dublin industrial market experienced a year of strong demand in 2020. Covid-19 adversity created unique opportunities which lead to increased activity in a market with limited availability. A total of 251,650 sq m was taken up via leasehold and freehold transactions.

Brendan Smyth • 18/02/2021
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Irish Development Land Market Q4 2020

The Irish development land market witnessed a sharp slowdown in activity in 2020 due to COVID-19 related market disruption. During the height of market uncertainty, quarter two recorded just €44m worth of development land sites sold. The lowest level of quarterly turnover recorded since Cushman & Wakefield’s detailed series began in 2015.

Brendan Smyth • 18/02/2021
Office Investment Q1 2020 Report
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Dublin Office Market Q4 2020

2020 resulted in a sudden, unexpected and artificial slowdown placed on the Dublin office market, with the impact of COVID-19 felt across all bar the first quarter. Take up reached 167,700 sq m in the year as a whole, a decline of 30% on 2019 levels.

 

Ronan Corbett • 05/02/2021

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Irish Investment Market Q1 2020
Investor Interest Remains Strong Despite COVID-19 Challenges

Despite COVID-19 challenges, the final 3 months of the year witnessed a strong close to 2020 for the Irish investment market. According to the latest research by Cushman & Wakefield, a total of €861m transacted in Irish commercial property in the final quarter, bringing the year-end total to just over €2bn.

Kevin Donohue • 15/01/2021

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Cushman & Wakefield undertakes valuation on the part of Cofinimmo, in sale and lease back of the Trinity Care Nursing Home Portfolio, in Ireland

The acquisition marks Cofinimmo’s entry to the Irish marketplace, by way of a €93M sale and leaseback, in conjunction with leading European operator and likewise new entrant DomusVi.

Dermot Hughes • 19/01/2021

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