Q2 2016 Georgian Office report,
2nd August 2016
Lisney has released their Q2 2016 Georgian Office report. Current market conditions mean that there is an opportunity for those who own Georgian properties and are considering a sale. They can capitalise on the favourable market sentiment and achieve strong prices.
Interest has bounced back strongly over the last two and a half years in particular. The number of VP sales in 2014 reached 21. This is an increase of 200% from 2013 levels. Achieved prices ranged from €311 psf to €754 psf. The sale at the lowest end of the range was in need of refurbishment while the property at the upper-end had some short-term income.
There were 12 VP sales in 2015 and achieved prices ranging from €307 psf to €680 psf.At the upper end of the range, the sales included either a mews building or had multiple car parking spaces.
In the first half of 2016, five Georgian properties with vacant possession have sold.Achieved prices ranged from €489 psf to €574 psf. The lowest level achieved has no car parking while the sale with the highest rate has a lift, a significant number of car parking spaces and offers very good residential conversion potential.
Download the full report here