The Dublin commercial property market - can the government redirect the tide?

Tomorrow, the Irish Government will deliver the new National Development Plan and Planning Strategy at a launch event in Sligo, in the west of the country.

The commentary from the Geoview Commercial Vacancy Report re-inforces the need for a better spread of investment across the country from now on. Whilst Dublin is (worryingly) awash with stories of record rents, new deals and new entrants, the story outside the capital is very different. No doubt many investors are now wondering whether central Dublin has just become too expensive.

The launch tomorrow will signal where the Government want investment to focus over the coming decade with €115 billion of spending to be identified. Expect lots of photo opps and you can guess that Sligo is going to get some good news! Depressingly we are seeing the usual rumour and speculation about political interference and jockeying. No doubt we will see some surprises, but if you're looking for long term investment opportunities it should provide a good guideline for where infrastructure spend will be focussed from the public purse. 

Clients are increasingly concerned about value for money and site prices being unrealistic in the capital. Will new policies be able to steer money away from the East? Remember "decentralisation" in the 2000's? A complete disaster launched to huge fanfare. Hopefully we will have learnt from past experience and a more measured, evidence based approach will be taken this time around. 

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