SWISS INVESTMENT bank Credit Suisse is planning to acquire a number of investment properties in Ireland and has held meetings with landlords to gauge their interest in selling to them.
The bank is one of a number of overseas investors looking to acquire prime retail and office properties in Dublin, although there is still a gap between what the funds are willing to offer and what landlords are willing to accept.
German funds Deka and GLL are two of a number of funds looking to acquire properties, as is a Middle Eastern investor.
Aviva Investors, meanwhile, is rumoured to be in talks to sell half of the HMV building on Grafton Street to a German purchaser.
In an update earlier this month to investors in its Irish Property Fund, Aviva Investors said that the retail market rent levels have been declining and there has "been some distress among occupiers.
There have been concerted efforts by tenants to negotiate rent concessions".
In general it said that "until there is greater clarity on the overall economy, it is difficult to see an improvement in the market". Geared investors in the Irish Property Fund have seen its value fall by more than 80% in the year to 31 August.