This is the startling news from Lisney’s published in today’s Independent which claims that Zone A rents in Dublin are now set at between €4500-6000 per square metre per annum and fell by almost 11% in the first quarter of 2010. Lisney’s also point to the unprecedented number of available units on Grafton Street.
What does this mean for NAMA and its valuation date of 30 November 2009? If commercial values have been determined by reference to rental yields and rents are now plummeting the fear is that we have substantially overpaid for these assets.
