• Most activity in the office market at present is being triggered by imminent lease events such as lease breaks and expiries
  • Companies signing office leases in the current climate will be able to negotiate more favourable terms than are likely to be available later this year
  • Particularly strong appetite for industrial & logistics property with demand boosted by recent Brexit disruption, delays & bureaucracy
  • Some UK retailers who have closed physical stores in the Irish market in 2020 expected to lease logistics units to facilitate online deliveries
  • Several sizeable multifamily transactions completed and gone to legals in the opening months of the year as investor demand remains very strong
  • The healthcare sector very active, with the largest nursing home transaction ever completed in the Irish market, completing in recent weeks
  • Those renegotiating existing retail leases, in many cases, being granted reductions of up to 20%, with more substantial discounts being achieved by those negotiating new lettings
  • Widening bid ask spread starting to emerge for secondary office product in all European locations
  • A number of development sites being marketed, several land deals in legals and some housing sites in Greater Dublin currently being prepared for sale
  • Supported by pricing discounts of 15% to 20% from some vendors, there has been a discernible increase in activity in the hotel sector in recent months
  • Activity in the commercial property market in Cork subdued since the beginning of the year albeit recent job announcements are encouraging