CBRE says to­tal in­vest­ment spend for 2018 could now ex­ceed €3.5bn

Irish Independent - Business Week - - TECHNOLOGY - Ron­ald Quin­lan

As 2018 draws to a close, CBRE is pre­dict­ing that the to­tal in­vest­ment spend for the year could now ex­ceed €3.5bn.

The over­all value of trans­ac­tions in the first nine months “sur­prised on the up­side” ac­cord­ing to CBRE’s lat­est bi-monthly re­port with sev­eral forward-fund­ing trans­ac­tions pro­pel­ling the fig­ure to €2.67bn.

While of­fice take-up for the third quar­ter in Dublin was some­what less than the pre­ced­ing quar­ters, the 56,414 sq m (607,235 sq ft) recorded for the pe­riod brings to­tal take-up in the first nine months of 2018 to 220,217 sq m (2,370,000 sq ft) and masks what CBRE de­scribes as “the very strong vol­ume of stock re­served and due to com­plete in ei­ther Q4 or early 2019”.

Com­ment­ing on the out­look for 2019, Marie Hunt, ex­ec­u­tive di­rec­tor and head of re­search at CBRE, says: “The vol­ume of out­stand­ing re­quire­ments for of­fice ac­com­mo­da­tion in the cap­i­tal re­mains par­tic­u­larly healthy at over 323,000 sq m (3,476,743 sq ft) with de­mand em­a­nat­ing from a range of dif­fer­ent sec­tors. Al­though sev­eral re­quire­ments are from tech­nol­ogy oc­cu­piers, it is in­ter­est­ing to note that the State also has sev­eral ac­tive re­quire­ments for mod­ern of­fice ac­com­mo­da­tion at present, in­clud­ing three rel­a­tively-large man­dates”.

Else­where in its lat­est re­port, CBRE notes a sig­nif­i­cant in­crease in both the vol­ume and value of de­vel­op­ment land traded in the Ir­ish mar­ket dur­ing 2018.

All told, 105 de­vel­op­ment land trans­ac­tions to­talling al­most €940m signed in the nine months to the end of Septem­ber, which is con­sid­er­ably more than the €748m an­nual av­er­age spent on de­vel­op­ment land in Ire­land each year since 2014.

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