Green REIT sees Brexit bounce for Dublin market

Green REIT, the publicly-quoted property investment fund, is confident that US companies will remain interested in taking up vacant office space in Ireland, despite potential policy changes by the Trump administration.

Green REIT sees Brexit bounce for Dublin market

The company yesterday reported a positive set of interim results for the six months to the end of December. While first-half profits were down nearly 35% to €43.7m, net asset value rose 4.2% and the firm saw a 6.2% rise in contracted annual rent from 21 properties to the tune of €65.1m.

Furthermore, management said Dublin can benefit from Brexit and foreign direct investment can still flow in from the US despite the change in the White House.

“The potential impact from Brexit on both the Irish economy and Irish commercial real estate is still to be determined, with the general expectation being that export-led sectors are likely to be most adversely affected, with Dublin offices a potential beneficiary,” said chairman Gary Kennedy.

“While we have not seen many Brexit-related relocations or expansions in the Dublin office market to date, the view of some market commentators is that these are likely to be seen from the second quarter of this year,” he said.

Regarding the impact of possible policy changes in the US, Mr Kennedy said: “The potential impact of US policy changes on Ireland and on foreign direct investment in Ireland, in particular, is too early to call in our view; we do, however, continue to see positive sentiment from US office occupiers.

The company notes that prospects for the Dublin office market arising from Brexit are improving all the time,” said Davy Stockbrokers.

more courts articles

DUP calls for measures to prevent Northern Ireland from becoming 'magnet' for asylum seekers DUP calls for measures to prevent Northern Ireland from becoming 'magnet' for asylum seekers
UK's Illegal Migration Act should be disapplied in Northern Ireland, judge rules UK's Illegal Migration Act should be disapplied in Northern Ireland, judge rules
Former prisoner given indefinite hospital order for killing Irishman in London Former prisoner given indefinite hospital order for killing Irishman in London

More in this section

Joe Biden Biden increases tariffs on Chinese imports of electric cars and chips
Construction - digger working at building site on sunny day Large investment funds eye office and data centre projects now interest rates are about to turn
Housing and renewable energy remain key focus for Cork businesses amid election season Housing and renewable energy remain key focus for Cork businesses amid election season
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
ie logo
Puzzles Logo

Play digital puzzles like crosswords, sudoku and a variety of word games including the popular Word Wheel

Lunchtime News
Newsletter

Keep up with the stories of the day with our lunchtime news wrap.

Sign up
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited