Belfast commercial property plans submitted

By Christine Farrell

Plans have been submitted for planning approval for a large commercial property in the Titanic Quarter in Belfast, Northern Ireland.

It is the first large scale commercial project in Belfast since the recession hit, and if approved, would result in the construction of two tower blocks on the former shipyard site next to the Belfast Metropolitan College. It is hoped that the project will attract further foreign investment to Belfast, and it will be marketed as a technology hub to support the financial services industry.

High-end office space is deemed essential to attract new investors to Northern Ireland, and if plans are proved swiftly it is anticipated that the commercial property could be ready for operation toward the end of 2015, resulting in the creation of approximately 2,000 new jobs.

The Northern Ireland commercial property market suffered every bit as much as the residential housing market after the recession, with well known commercial properties plummeting in value in the space of just a few years. The growing confidence in the state of the Northern Ireland economy, and the stabilisation of property prices, have no doubt helped the timing of this latest proposal.

If you require legal advice in respect of the purchase, sale, or rental of a commercial property in Northern Ireland, contact Wilson Nesbitt in Belfast by calling 0800 840 9294.

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