The improving economic outlook has seen – and will see – renewed investment in vacant retail parks and shopping centres across the country, according to a report released today.
Commercial property consultants CBRE Ireland today released their latest bi-monthly analysis of trends in each sector of the Irish commercial property market. According to their July bi-monthly report, the first six months of 2014 have seen strong volumes of activity being recorded in all sectors of the market, including retail property.
“Buoyed by the strength of occupier activity and improving economic conditions, there has reportedly been strong interest from investors in many of the retail shopping centres and retail parks that have been offered for sale in recent weeks and months,” the report concluded.
Marie Hunt, executive director and head of research at CBRE Ireland said “We have witnessed an extraordinarily strong volume of activity in the Irish commercial property market over the last six months and there is nothing to suggest that the pace of activity will ease over the coming months.”
However, the report also found that prime industrial rents in Dublin increased slightly during Q2 and now stand at approximately €62 per square metre or €5.75 per square foot. This is the first increase in prime rents in the industrial sector in 6 years.
© 2014 - Checkout Magazine by Conor William O’Brien