Agent forecasts €1.7bn commercial sales

DTZ Sherry FitzGerald is the latest major player to call a recovery in the market as it publishes its review of the Irish Investment Market for autumn.

The firm is forecasting commercial property sales to top €1.7bn by the end of this year – even higher than had been forecast just three months ago in the broader sector.

“There is strong demand from cash buyers seeking good €100m+ income producing portfolios with asset management potential,” say DTZ.

“Supply levels have increased in quarter three with the launch of the highly anticipated portfolio sales Project Arc and the Ulysses Portfolio, with a combined sales price of just under €290m,” the agents add.

The firm also claims there has been an increase in off market investment activity as buyers continue to make strong approaches to secure prime properties. Soure: The Irish Independent