The average deal size of development sites sold in the first half was €3.4 million, representing a significant decrease on the €6.58 million average deal size in the second half of 2022 and the €7.33 million average in the first half of 2022. Notably, only two deals in the first half of 2023 had values in excess of €10 million and these accounted for 27.3 per cent of the total turnover for the period.
A 0.83-acre site at North King Street in Dublin city centre was sold for €7.35 million . The site had been guiding at €8 million as part of the Dublin 7 Portfolio, along with a mixed-use property on nearby Phibsborough Road, which had been guiding at €4 million. The North King Street site offers a redevelopment opportunity and currently has tenants in existing buildings.