Tuesday 11 December 2018

'Off-market' property deals increase

Stock picture: Dublin's docklands
Stock picture: Dublin's docklands

Ronald Quinlan Commercial Property Editor

The level of investment turnover in Ireland's commercial real estate sector has eclipsed €1.3bn, following a busy third quarter in which €529m worth of deals were done.

The three-month period to the end of September proved to be the strongest quarter so far this year, according to the latest investment report released by Cushman & Wakefield.

The most notable trend to have emerged in 2017 is the growing prevalence of off-market deals, with some €272m or 21pc of investment turnover this year flowing from direct approaches from prospective purchasers to potential vendors.

"This increase in off-market deals is notable. It represents a twofold increase on the same period last year.

"It is also reasonable to assume, that due to the nature of off-market deals, the share of such transactions could in fact be higher," Marian Finnegan, chief economist at Cushman & Wakefield said.

Irish Independent

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