Grand Mill Quay, Barrow Street, Dublin 4
It appears as though the property market is once again becoming very active.
There has been a splurge of money from a number of foreign investors, the type of investor that was not seen previously, with a rush on distressed assets as international companies take advantage of the current Irish financial situation.
Many distressed assets are expected to become available. And by year end turnover is expected to reach €1.8 billion, almost as high as the €1.9 billion spend in 2007.
There is currently huge interest in two high profile property portfolios; Central Park in Leopardstown, which is expected to sell for €250 million, and the Platunim Portfolio, expecting €120 million. The Platinum Portfolio consists of four properties situated in the Dublin South Docklands and Dublin 4, and are being eyed up by the likes of Google and Irish Life.
Another US investor, Kennedy Wilson, has spent up to €1 billion on distressed properties around Dublin, and are expected to continue shopping making them one of the biggest landlords in the country along with NAMA, Irish Life and IPUT. They are also not the only US investor to be browsing property investments in Dublin with other Investment firm Hines rumoured to be investing up to €500 million.
