Investment in commercial real estate plummets to lowest level since 2013

The most valuable deal in the first quarter saw TPG Angelo Gordon and Carysfort Capital sell 104 apartments at Shackleton Park in Lucan, Co Dublin, to KGAL for €42m

The average deal size also fell from a 10-year average of €20.4 million to €8.1 million. But while the latest quarterly numbers are down significantly on the averages of the last decade, they still manage to outstrip the investment spends recorded in the depths of the financial crisis. In 2009, for instance, just €137.47 million was invested in Ireland’s commercial property market during the entire year.

But while the market for retail parks and shopping centres may be relatively vibrant, with the sales of both the Blanchardstown Centre and The Square in Tallaght expected to transact in the coming quarters, investor appetite for offices remains very much subdued.According to the latest statistics, the €4.4 million sale of Athlumney House in Navan, Co Meath, to a private Irish investor is the most valuable office investment to have been completed so far this year.

The industrial and logistics sector, while popular with investors, continued in the first quarter to be dogged by a chronic lack of stock for sale. This was reflected in the value of sales within the sector, with just €8,731,800 worth of industrial and logistics assets changing hands in the three months to the end of March. The remaining 0.6 per cent of investment spend was accounted for by properties outside of the main sectors.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kieran Cuddihy shares the unusual investment his son made with Communion moneyCommunions might be a Catholic rite of passage, but alongside taking the sacrament, many children look forward to the thought of receiving the traditional cash gifts that often accompany the day
Source: RSVPMagazine - 🏆 7. / 76 Read more »

Business Today: Gender pay gap declines marginally, Fintech investment down and the Covid time warpThe best news, analysis and comment from The Irish Times business desk
Source: IrishTimes - 🏆 3. / 98 Read more »

Irish fintech investment plunges 94% amid global decline, KPMG saysHigher interest rates and global uncertainty saw investors hold on to their money in 2023
Source: IrishTimes - 🏆 3. / 98 Read more »

€2.1m investment for Irish MedTech spin-out NeuroBellCork-based MedTech start-up NeuroBell has announced the closing of a new round of funding as it spins out from University College Cork.
Source: RTEbusiness - 🏆 16. / 61 Read more »