Investors spent €8.6bn on offices in Ireland since 2013

Office investments almost at €1.5bn last year – over 70% ahead of 2017, according to Savills

Investors have spent almost €8.6 billion on offices in the Republic since 2013, a report published today shows.

Estate agent Savills Investment Report 2019 states that investors pumped €1.48 billion into Irish offices last year. According to the report, investors have splashed out almost €8.6 billion buying offices in the Republic since 2013, the year economic recovery began.

Last year’s figure was 73 per cent ahead of 2017and included several “portfolio” sales, that is a number of buildings sold in a single deal.

Savills notes a sharp increase in sales outside Dublin in 2018, with 24 buildings changing hands. The biggest transaction outside the capital was the sale of three buildings together, dubbed the Plassey Portfolio, for €25 million.

Last year alone, businesses agreed to rent 345,783sq m of office space in Dublin, a record for the capital.

 

Source: Irish Times

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