Irish investors look to London


Irish investors are looking to London to find and business offices, according to the Sunday Business Post.

A new commercial property study found the value of investment in Europe had fallen since the last quarter, however, in Britain turnover had remained the same.

"Irish investors were still buying there, but in many cases they were really struggling to make their figures work. Now, because of the very fast repricing that has taken place, they are looking at the market again," noted Caroline McCarthy, head of international capital markets at CB Richard Ellis (CBRE), Dublin.

According to Ms McCarthy, central London had become too expensive and the exchange rate was not favourable to Irish investors.

Despite the fall in prices, investors are "not just buying anything because things are cheaper than they were six months ago", she commented.

"They are going for the West End and mid-town and are looking for buildings with good tenants where rents are at sensible levels."