18 Investment Transactions over €1 Million in Value Signed In the First Nine Months Of 2012
More than 71% of the investment spend so far in 2012 was accounted for by overseas buyers.
Dublin, October 3rd 2012 – Property consultants CBRE today released new statistics showing that there were 18 individual investment transactions of more than €1 million signed in the Irish market in the first nine months of 2012. This compares to 8 transactions of over €1 million in value completed in Ireland in the entire year in 2011 demonstrating the fact that more investment product has come to the market in the last number of months, which is now translating into transactional activity. In total, according to CBRE, just over €270 million of investment transactions have been signed in Ireland in the year to the end of September 2012, when transactions of greater than €1 million in value are included. The investment spend in the first nine months of 2012 is higher than the volume of investment in the Irish market in each of the last three years. Although the purchasers of these assets comprised both local and overseas investors, buyers from outside the jurisdiction accounted for the greatest proportion of spend; with more than 71% of the investment spend in the first nine months of the year being accounted for by overseas investors. 64% of investment spend in the first three quarters of 2012 comprised office properties. A further 15% comprised bulk residential investments; 11% comprised industrial properties with 9% comprising retail properties.
CBRE’s analysis considers transactions of more than €1 million in value. However, a significant number of transactions of less than €1 million in value are also being negotiated at present. Indeed, according to CBRE, only six of the 12 investment transactions completed in the last three month period were greater than €1 million in value.
There are a number of investment properties being marketed and under offer at present, including a number of relatively large lot sizes, which if completed by year-end could boost annual investment turnover for 2012.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 110 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.