Huge Opportunities in the Northern Ireland Property Market at Present According to CBRE
Belfast, October 22nd 2015 – Speaking at an investment conference at their London headquarters this evening, property consultants CBRE highlighted the significant competitive advantages the Northern Ireland property market offers compared to other UK regional markets at present. This in turn is encouraging a range of institutional and private equity firms to seek out opportunities in the region.
Over the last 12 months in particular, Northern Ireland has experienced a significant number of international investors entering the market for the first time including Marcol, Rockspring, Stargime and NewRiver Retail.
“There is strong appetite from a range of different investor types for opportunities in the Northern Ireland market at the moment. Belfast offers a compelling value proposition compared to regional UK cities and this is being recognised by occupiers and investors alike. We are anticipating an uplift in rental values in all sectors over the next 12 months, particularly in the office sector. However, the most attractive element for investors at present is the notable gap between the yields on offer in Northern Ireland and those prevailing in other competing regional cities in the UK.
We believe there is every reason to remain confident regards the introduction of a reduced rate of corporation tax in Northern Ireland and has CBRE has always stated this will be the real game changer in relation to the property market as well as the economy generally.”
“With so little Grade A office space available and demand continuing to increase at pace, there are significant requirements for new build and refurbished office space. There is also scope for a number of major hotel developments to attract global branded hotel operators in order to satisfy future demand expected from the new exhibition centre at the Waterfront Hall.
We have also just had the good news this week of the Open golf championship coming to Royal Portrush in 2019, which will undoubtedly help to put Northern Ireland on the map to more international tourists.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.