• Commercial - Private Rented sector Review 22 May 2018

    MARKET OVERVIEW
    The Private Rented Sector (PRS) in Ireland,
    which has grown rapidly in recent years, is
    now a firmly established investment sector.
    2017 was a dynamic year for the sector with transactions
    totaling €386.8m across 24 deals. This represents a
    substantial increase on 2016 volumes which stood at
    €269.1m.
    Activity in 2017 was boosted by several large deals
    including Patrizia Immobilien AG’s acquisition of the
    Charlotte and Leona Buildings for a reported €132m.
    The buildings form part of the larger Honey Park
    development in Dún Laoghaire, Co. Dublin.
    Other high-profile sales included the off-market
    purchase of three residential buildings in Leopardstown,
    Co. Dublin for €51m by Tristan Capital Partners/SW3
    Capital. Furthermore, Kennedy Wilson acquired North
    Bank, a portfolio of 124 apartments in the north
    docklands, for €45m.
    Dublin remains the most attractive market for investors,
    attracting 96% of total residential investment in 2017.
    Outside of Dublin, the largest
    deal completed was the sale of Leeside Apartments,
    Bachelors Quay, Cork city, purchased by Lugus
    Capital for a reported €8.4m.
    APPROXIMATELY €386.8M WAS INVESTED IN
    THE PRIVATE RENTED SECTOR IN 2017.
     
    DUBLIN ATTRACTED THE LARGEST
    PROPORTION OF ACTIVITY IN 2017,
    ACCOUNTING FOR 96% OF INVESTMENT SPEND.
     
    Source: Cushman and Wakefield Commerical research report