Commercial property ‘never busier’

Activity in the commercial property sector reached exceptionally high levels in the summer and is expected to escalate as vendors scramble to take advantage of the soon-to-expire capital gains tax waiver, introduced as part of Budget 2012.

Commercial property consultants CBRE yesterday released its latest bi-monthly analysis of the market, showing high transaction levels continued unabated in July and August.

“Deal flow in the Irish commercial property market has been phenomenal over recent months, with activity even continuing at pace during the summer months, when the market is typically quiet. Indeed, there has never been a busier July and August in the Irish investment market or the hotels and licensed sector of the market than experienced in 2014, with transactions being completed right throughout the summer and several portfolios and assets launched for sale in this period,” said CBRE executive director and head of research, Marie Hunt.