Irish property attracts €2.3bn
More than €2.3bn (£2bn) was invested in Irish commercial property in the second quarter of 2016, bringing the year’s total to €2.9bn. Four deals valued at more than €80m completed in Q2, accounting for 60% of total volume. The biggest deal was Blackstone’s €950m purchase of Blanchardstown Town Centre from Green Property.
Brexit hits Persimmon shares
Persimmon’s share price fell by 37% following the referendum vote. The company issued a trading update saying that its fundamentals were strong and that it had reported a 12% rise in revenue in the first half of 2016.
RBS public stake sale delayed
Plans for the government to sell its stake in Royal Bank of Scotland could be delayed by “at least a couple of years” because of the Brexit vote, RBS chief executive Ross McEwan said. Following a 30% fall in RBS share prices, McEwan said that chancellor George Osborne’s plan to reduce the government’s stake in the bank to 25% by 2020 had experienced “quite a setback”.
