Northern Ireland commercial property market 'exceptional' in 2018

By Gary Adair

The performance of the commercial property market in Northern Ireland in the first half of 2018 has been described as "exceptional" by director at CBRE, David Wright.

The five-year average of performance in the Belfast commercial office market is £385,000 sq ft, and in 2018 the half-yearly total is 536,646 sq ft spread across 46 different commercial property transactions.  Mr Wright was particularly encouraged by the findings of the new study, given the current political instability in Northern Ireland.

The NI Marketview report shows that there were 23 commercial property transactions in Northern Ireland in Q2 of this year, representing a total of 268,366 sq ft. A strong second half of the year is predicted on the basis of increased investment activity, and large requirements for commercial property such as office space, as well as in other sectors such as industrial, hotels, leisure and healthcare.

If you require legal advice from a commercial property solicitor in Northern Ireland contact Wilson Nesbitt in Belfast by clicking here.