Kevin Nowlan, the chief executive of listed landlord and developer Hibernia Reit, said the company “remain confident” in the long-term prospects of central Dublin’s office and residential market.
Commercial Property Premium
Colony Capital, a financial backer of some of Ireland's biggest commercial property developments has effectively put billions of dollars of US hotel assets up for sale after reporting this month that some of its portfolio companies had defaulted on $3.2bn of debt.
One consequence of the coronavirus lockdown is that many tenants are unable to pay their rent, as they are prevented by law from trading. Some tenants (including large one's like Penneys) have stopped paying rent, and others are paying reduced rents. But some landlords, in shopping centres for example, are taking a tough line, and insisting on full payment. With no one "to blame" for the situation, I wondered what the legal position might be?
Tight supply of industrial and logistics properties in Cork may lead to a reduction in yields from 6.25pc to 6pc this year, according to the latest forecasts from Cushman & Wakefield. Meanwhile, at the end of March, office rents and yields held last year's levels at €355 per square metre and 5.25pc respectively.
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