Irish commercial property market weakens - CBRE & IPD

pinsters saw this coming a long time ago! i remember because i was still a lurker back then and thought it was interesting to see such a polar belief to the report the same EA had done talking about how great commercial was doing!

Where’s Marie? Have CBRE done a Merrill Lynch and replaced their bullish economist with a bearish one?

Heard from an employee of DTZ Sherry Fitzgerald yesterday that job cuts are anticipated there, and soon.
This idea that Commercial could be somehow immune from the impending slowdown was always pretty specious.

This slowdown will affect all sectors, from sandwich bars to opticians. As a for instance, certain high-end hotels and spas are in serious difficulty at the moment.

Commercial slows 12 - 18 months after residential.
Pretty sure Ive mentioned this before.

So Sean is only out about eighty million (and counting). Sure that’s grand.

Activity? Or speculation?

Yeah. Hopefully within the next decade or so :unamused:

Ah yes. The legalised tax avoidance. God forbid greedy US corporations would be forced to pay the prevailing tax rate of the countries they’re earning their money in.

The interweb is a terrible thing.

Now IPD are getting in on the act…

IPD Irish Commercial Property Index update released today.

Railway Square in Waterford is still a ghost town.

And yet, two huge new developments are planned for the Quay’s. One on the North Quay, one on the Bilberry site.

Each of these new developments alone would be HUGE.

Do pepole not look at places like Railway Square, or the amount of space to let dotted around the city and think “Hang On, do we really need this?”

Railway Square genuinely provided more value to the city of Waterford when it was a patch of gravel that you could park the car on and stroll up the town.

There seems to be a Field of Dreams syndrome in Waterford. If we build it they will come.

Build a Conference Center, build a few massive hotels and shopping centers, move the train station, slap up hundreds of new apartments and hey presto…people will leave Dublin and move to Waterford.

And they’ll aparently move in enough numbers to not only fill all this new commercial retail and residential space, but to fill all the existing empty space too.

Maybe I don’t have the vision to see what the motorways and bypasses will do for Waterford. I guess in about 10 years or so we’ll know how it all turned out.

Right now it looks like Waterford is going All-In after a bad flop.


I’d bet me house on it!

Someone got the reference. :wink:


It’s Casino Royale time for Irish developers and their backers.

Sadly, it’s more Peter Sellers than Daniel Craig.

I’m James Bond and so is my wife.

Sure it is, especially when you consider that Irish commercial property has had annualized investment returns averaging 18% during the past 10 years, and that is ungeared! Imagine the returns that were achieved by investors geared 70/80-30/20! Sure they are al f**ked! Ye right!

The recent addition of the Daftwatch commercial graph points to continuing supply trend, anecdotally I’ve been following commercial on Daft for some time and i estimate that it hasn’t fallen in over 1.5 years.

jeysus, its the empties


look around, in cork and midleton they are LOADS AND LOADS AND LOADS AND LOADS os shaggin’ commercial property either being built or stood empty.

pure greed during the bubble.

what is the yield on an empty office? … .htmlIrish

SBpost 25 May


The shit’s really going to hit the fan once word of this gets out!!! I’d better invest in a flak jacket and some body armour for work…