{"id":8575,"date":"2016-01-11T18:03:34","date_gmt":"2016-01-11T18:03:34","guid":{"rendered":"https:\/\/lisney.com\/belfast\/?p=8575"},"modified":"2022-08-04T12:28:44","modified_gmt":"2022-08-04T11:28:44","slug":"ni-commercial-property-investment-hits-420m-as-transaction-levels-double","status":"publish","type":"post","link":"https:\/\/lisney.com\/belfast\/ni-commercial-property-investment-hits-420m-as-transaction-levels-double\/","title":{"rendered":"NI Commercial Property Investment Hits \u00a3420M As Transaction Levels Double"},"content":{"rendered":"
2015 NI Commercial Property Report reveals investment and retail as real winners of the 2015<\/p>\n
The number of Investment transactions in the Northern Irish property market doubled in 2015 as volumes hit \u00a3420 million, new research by leading Belfast-based property agents Lisney has revealed.<\/p>\n
The findings were announced today as the 2015 Northern Ireland Commercial Property Report was launched. Compiled by Lisney, the report is the most comprehensive and long-established study of the commercial property market in Northern Ireland across the investment, retail, office and industrial sectors.<\/p>\n
The report revealed that the retail sector is strengthening, with prime retailing locations throughout Northern Ireland<\/a> having enjoyed their first fall in vacancy rates last year since 2011. However, the findings for the office and industrial markets paint a less positive picture.<\/p>\n Looking ahead, Lisney predicts that the Northern Ireland commercial property market<\/a> will sustain its resurgence during 2016 and be strengthened further by ever-improving consumer confidence.<\/p>\n Two of the most prominent deals during the year were the purchases of Fairhill Shopping Centre in Ballymena by Rockspring and of Erneside Shopping Centre in Enniskillen by Ellandi with Tristan Capital, for \u00a345.6m and \u00a334.5m respectively.<\/p>\n Declan Flynn, Managing Director of Lisney Northern Ireland, which specialises in office, retail, leisure and NI Industrial property<\/a> acquisition, disposal and investment, commented:<\/p>\n \u201cThe knock-on effect of the continuing success of the UK property market has seen a significant increase in the number of investors and developers beginning to sit up and take note of Northern Ireland and what we have to offer.<\/p>\n \u201cThis is particularly evident within the retail market, which is being driven by improving consumer confidence, reducing vacancy rates and improving rents.<\/p>\n \u201cA key positive has been the number of new investors in the Northern Ireland market. With Ellandi, Rockspring, M&G and Chenavari taking advantage of the opportunities the region currently offers. It is also notable that the depth of the purchaser pool is providing confidence in relation to liquidity in the region.<\/p>\n \u201cThe adoption of the rates revaluation has also delivered much-needed help to high streets and the main shopping areas, which has had a positive effect on occupancy levels within these areas.<\/p>\n \u201cThe higher number of Northern Ireland investment<\/a> transactions in 2015 indicates a return to a more normalised transactional environment less focused on wholesale bank deleveraging, which saw numerous portfolios dominate the market last year.<\/p>\n \u201cLisney\u2019s own Investment department has transacted in excess of \u00a3150m in the last year\u201d<\/p>\n Commenting on the office market and the challenges faced by the industrial sector, Mr Flynn continued:<\/p>\nHeadline results from the report reveal that:<\/h2>\n
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