With agent JLL reporting a turnover of €770 million in the commercial property investment market over the first six months of 2017, the firm’s head of research is predicting an increased level of activity during the remainder of the year, with more than €1.3 billion of assets either currently for sale or due to come to the market in the next few weeks.
“We are confident that our initial forecast of €2 billion for year-end volumes will be reached,” said Hannah Dwyer of JLL. “Demand remains steady from both domestic and overseas purchasers, but some are being more selective, depending on the investor and product type. We continue to see new entrants to the market, which is encouraging.”
Coolock shop and apartments for €1.1m
Turley Property Advisers is quoting €1.1 million for a former Centra shopping facility and four overhead apartments at Oscar Traynor Road in Coolock on the northside of Dublin. The 261sq m (2,809sq ft) retail unit with a full off-licence had a weekly turnover of more than €50,000. The building dates from 2004 and is being sold with vacant possession. It is expected to be of interest to owner-occupiers.
Dublin 1 office building for €1.95m
Brian Gaffney of Murphy Mulhall is seeking more than €1.95 million for the fourth floor of the modern office building Ulysses House, on Foley Street, Dublin 1.
The floor extends to more than 609sq m (6,561sq ft) and two car-parking spaces. It is let to the Citas College language school on a new 20-year lease at an annual rent of €149,350. The lease includes a break option in the 15th year. The investment will show a net initial yield of 7.33 per cent.
