Ireland’s office sector off to buoyant start in 2013

Ireland’s office sector is off to a good start in 2013, according to the latest bi-monthly research report from CBRE, the leading commercial property and real estate services adviser.

According to the report, there has been a steady volume of office letting activity concluded throughout January and February in 2013, with a promising number of noteworthy transactions currently in negotiations.

The €43 million acquisition of the former office’s of The Bank of Ireland, by Irish businessman, Larry Goodman was also pointed to as a significant contributor to the markets early buoyant performance.

However, the report also identified a continuation of polarisation in Ireland’s retail property sector, which CBRE say has now become very evident. According to the report, there is now a dearth of Grade-A commercial property in Ireland’s top locations, with a oversupply of Grade-B/C space’s available in areas with considerably less demand.

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