Colliers Jackson-Stops Forge Exciting New Commercial Alliance with Property Partners, 27 March 2008

The announcement of a commercial property alliance between two leading Irish estate agency groups, Colliers Jackson-Stops and Property Partners, is expected to result in a major boost for Property Partners’ clients throughout Ireland. The association will see Colliers Jackson-Stops become the recommended commercial associates to Property Partners, utilising Colliers Jackson-Stops’ position as an internationally supported commercial property advisory group to support Property Partners national branch network. 

The news is described by Colliers Jackson-Stops, Director, Marcus Magnier, as “a significant development for both firms who will now be uniquely positioned to deliver a number of benefits to clients as the two companies join forces.”

“The new arrangement gives Property Partners a double-edged advantage with the benefit of Colliers Jackson-Stops’ commercial consultancy strength, expertise and access to world markets alongside unrivalled representation through 55 branches of Property Partners across Ireland. This will offer a significant and valuable market advantage to Property Partners’ offices,” said Mr Magnier. 

Commenting on the link-up, Brian O’Dwyer, Commercial Director at Property Partners Ltd said: “The commercial property market in Ireland is still holding strong throughout the regions with our share of this market increasing year on year, and we are pleased to extend our network further to better promote our range of commercial services. With the backing of Colliers Jackson-Stops, one of Ireland’s best and most well-established commercial real estate groups and our extensive network of offices throughout Ireland, we will now be able to provide our existing and new clients with greater access to a range of services supported by expert advice and business solutions.”

Under the new agreement, a range of commercial services, including offices, retail, industrial, investment property and development land will be available throughout Ireland to both national and international investors.

About Property Partners

The Property Partners Real Estate Group is independently owned and has more than 50 offices nationwide, all offering the Property Partners brand of professionalism and quality service.

Property Partners Commercial is committed to delivering a fully-integrated service for developers, investors and occupiers. With the support of a combined staff of more than 300 professionals throughout Ireland, Property Partners is recognised as a leading player in all sectors of the Irish property market.

Ireland to dodge worldwide slide, Irish Independent, 19 March 2007

Industrial real estate markets are facing a worldwide slowdown. But Ireland -- with the sixth highest warehouse rents in the world -- looks well placed to avoid global 'shell shock'.

With the world economy anticipated to decelerate in 2008, a major study from Colliers International warns that trade and the movement of goods may show a corresponding downshift.

"This has the potential to cause a decline in leasing and letting activity in warehouse markets around the globe," CI research expert Ross Moore comments.

Despite a more subdued backdrop, however, most markets are forecasting stable, if not rising rents in the coming 12 months. Land prices are also predicted to hold steady and yields/capitalisation rates, which have been trending down for the past several years, should hold steady and rise only in a limited number of countries.

European warehouse markets are "fairly well positioned" to weather a slowdown. As such, the euro region is anticipated to show modest growth, albeit down from 2007 levels.

France and the UK are two countries anticipating higher yields (lower prices). But for the rest of the EMEA region, solid fundamentals are expected to leave yields steady and in most cases possibly decline. Europe is also home to some of the most expensive warehouse rents in the world, with London's Heathrow sub- market holding the title for the most expensive warehouse space in the world at €16.85 per sqm per month.

Dublin prime industrial land values are now at €393.35 per sqm -- ninth in the Colliers land price league, which is led by Hong Kong with nearly seven times that figure. US warehouse markets are also expected to register more sluggish results, although Canadian markets will continue to operate above trend. The Asia Pacific region is predicted to remain the growth leader in 2008, with China and India leading the way.

"Many Asia Pacific economies are highly dependent on exports to the US, although China is also starting to become an important source of demand. Port cities remain very robust as intra-region trade remains very strong," the report states.

Commenting on the document, Paul Finucane of Colliers Dublin said he is not surprised that Dublin ranks so highly on the list: "In spite of current economic uncertainty, the industrial market continues to perform well. This is primarily due to a lack of supply of serviced industrial sites close to good transport links.

"In addition to this, a number of the more established industrial areas of Dublin, particularly those inside the M50, have been re-zoned to facilitate higher land uses such as office, retail and residential," Mr Finucane elaborated.

"In fact, only last month the government announced that six more industrial estates have been earmarked as areas of intensive growth. Existing occupiers who realise the value of their existing facilities need to relocate, but the lack of zoned and serviced industrial land continues to drive demand and prices upwards, particularly for well located sites close to the arterial from Dublin.

"A good example of these sites is Dublin Airport Logistics Park, which is clearly defining itself as the definitive warehouse and distribution/logistics location for major space occupiers servicing the airport, the port and the greater Dublin area.

"The 60 hectare park is strategically located in close proximity to Dublin airport, the Port Tunnel and lies within 800 metres of the M50/M2 junction. The industrial and logistics sector has performed phenomenally well in recent years and we predict further (albeit more modest) growth in 2008 which, in the current economic climate, reflects the underlying strength of the industrial market."

For more information, contact Colliers Jackson-Stops at +353 1 63337000

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