Construction activity builds upwards according to recent PMI
Ulster Bank’s monthly construction purchasing managers’ index (PMI), a seasonally adjusted index designed to track changes in construction activity, posted a score of 60.2 points for May; down on the previous month’s 63.5 point reading but still ahead of the neutral 50-point mark which separates a sector in decline from one in growth mode. The rise in new business came from both domestic and external markets.
Bannon Acts for Hibernia Reit in €27.5m acquisition
Hibernia REIT has acquired a building on the Hanover Building at Windmill Lane in Dublin’s south docks and has also acquired an adjoining site for €27.5 million. It plans to redevelop both properties. The building generates €1.5 million in rent per annum, with the purchase price implying a net initial yield of 7.3 per cent.
Woodstown Village Centre sold for €3.8m
The Woodstown Village Centre at Knocklyon, Dublin 16, which was sold in 2006 during the property boom for over €8 million, has been resold for over €3.8million. David Carroll of Bannon handled the sale for Declan McDonald of PwC, who was appointed receiver by the Ulster Bank.
High Bay Distribution/Logistics Facility For Sale in South-West Dublin
Bannon has commenced marketing Oak West House a modern high-bay distribution/logistics facility extending to 5,231.6 sq m (56,312 sq ft) at Oak Road, Western Business Park, Dublin 12
NAMA’s financial highlights 2013
NAMA continues to be profitable according to the 2013 Annual Report Summary released this morning. Nama reports a profit after impairment, tax and dividends of €211m, making an operating profit, before tax and impairment charges, of €1,198m in 2013, an increase of 45% over 2012.
Docklands large-scale development gets green light
A fast-track planning scheme which would allow buildings up to 88 metres or 22 storeys high in Dublin’s docklands has been approved by An Bord Pleanála.
