Investment turnover reaches almost £200m to June 2000

Investment turnover in the Irish commercial property market during the first six months of this year reached almost £200 million, according to Hamilton Osborne King. Last week Gunne Commercial estimated that turnover had dropped to £150 million. Hamilton Osborne King's £200 million figure compared to a turnover of £337 million in the first half of 1999 and £712 million for the entire year.

As was the case last year, institutions were the dominant players in the market, accounting for 58 per cent of the turnover between January and June, with private investors contributing 37 per cent and the remaining 5 per cent coming from property companies. On a sectoral basis, offices continue to attract most money with 38 per cent of the spend going to that sector. Industrial investments accounted for 28 per cent of the transactions, up from 9 per cent in 1999 as a whole.

Brian Turner, head of research at Hamilton Osborne King, said that although the turnover in the first half of the year had slipped, the market remained robust. A large part of the differential was due to the fact that last year's figures were buoyed by the pre-funding of a number of large shopping centre schemes such as the Pavilions in Swords.