Commercial Property

A look at the history of the base rate of interest

A look at the history of the base rate of interest

By Lauren Burns The decision of the Monetary Policy Committee to increase the base rate of interest to 0.75 per cent has been reported in dramatic headlines - 'Only the second... Read more

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... Read more

Property owners affected by Japanese knotweed win damages

By Lauren Burns The Court of Appeal has found in favour of owners of two properties in South Wales affected by Japanese knotweed, in a decision that was awaited with much... Read more

Investors attracted by NI commercial property prime yields

By Neil Logan A new report from real estate firm CBRE shows that Northern Ireland commercial property prime yields are currently the higher than Great Britain and the Republic of Ireland Prime... Read more

Northern Ireland commercial property rates bills to be recalculated

By Neil Logan The Department of Finance has announced that it will revalue more than 75,000 commercial properties in Northern Ireland for the purpose of calculating rates bills. Retail units, offices, factories... Read more

One of Northern Ireland’s largest commercial property deals completes

By Neil Logan The CastleCourt shopping centre in Belfast has been sold for £125million to investment firm Wirefox, making it one of the biggest commercial property deals in Northern Ireland for... Read more

HMRC sign commercial property lease on new Belfast office

By Neil Logan HM Revenue and Customs (HMRC) has signed a new commercial property lease that will see 1,600 employees situated in the Erskine House in Belfast from 2021. Erskine House is... Read more

Report suggests strong Northern Ireland commercial property market

By Neil Logan A new report from CBRE suggests that there are active commercial property deals in Northern Ireland due to be completed within the next 6 weeks with a combined... Read more

Planning permission granted for Belfast office block in record time

By Neil Logan A £65million office block project in Belfast city centre has been granted planning permission just 8 weeks after plans were lodged, demonstrating Belfast City Council's awareness of the... Read more

Planning application submitted for major Belfast office project

By Neil Logan A planning application has been submitted to Belfast City Council for a commercial property project that is being hailed as the most significant office scheme in the capital... Read more

Rate of commercial property vacancy still highest in Northern Ireland

By Neil Logan The amount of vacant commercial property units in Northern Ireland fell to its lowest level since before 2011, but it still has the highest vacancy rate of all... Read more

New plans expected for regeneration of Belfast city centre

By Neil Logan New planning permission is to be lodged by the owners of 12 acres of land in Belfast city centre that will amount to a £400million regeneration of the... Read more

Commercial property projects in Belfast at ten year high

By Neil Logan New research suggests that the Belfast commercial property market is strengthening despite the economic uncertainty predicted in the wake of the Brexit vote. The Belfast Crane Survey was produced... Read more

Northern Ireland commercial property market optimism for 2017

By Neil Logan Increasing levels of tourism, cross-border shopping and a unique tax regime should help the Northern Ireland commercial property market thrive in spite of Brexit uncertainty, says head of... Read more

MJM Group has faith in the Northern Ireland commercial property market

By Neil Logan Following a £30million acquisition of the Damilly Retail Park in Newry, the head of property at MJM, Greg Vaughan, has spoken of the company's "faith in the Northern... Read more

Bank of England cuts interest rates to 0.25 per cent

By Lauren Burns The Bank of England has confirmed that the Monetary Policy Committee (MPC) has voted to reduce interest rates to 0.25 per cent, representing the first change to the... Read more

Belfast commercial office scheme on hold after Brexit vote

By Neil Logan Plans to build an office development between 6 and 10 storeys high in Belfast have been put on hold following the Brexit vote, as speculation continues as to... Read more

Sale of historic Belfast commercial property completed

By Neil Logan It has been confirmed that the historic Belfast Telegraph building in Northern Ireland has been sold to property firm McAleer and Rushe. The high-profile commercial property was marketed for... Read more

NI Chamber calls for business rates to be linked to affordability

By Neil Logan Members of the Northern Ireland Chamber of Commerce are calling for a reform of the business rates system, proposing a move away from calculations based on size to... Read more

Number of vacant commercial retail properties in Belfast fell last year

By Neil Logan There was a decrease in the number of vacant commercial retail properties in Belfast in 2015 according to new research. Commercial property vacancy has been a problem in Northern... Read more

Northern Ireland commercial property market to be very active in Q1 of 2016

By Neil Logan It is widely expected that the commercial property market in Northern Ireland will be very busy in the first quarter of the New Year, as a result of... Read more

Flexible leases could solve NI's commercial property vacancy problem

By Neil Logan It has recently been estimated that 16.4 per cent of commercial property retail units in Northern Ireland are vacant, well above the UK average of 10.2 per cent. It... Read more

Consultation announced to review Northern Ireland business rates

By Neil Logan A twelve week consultation on business rates in Northern Ireland has been announced by Finance Minister Arlene Foster. The consultation will consider the future of the business rates system... Read more

Planning permission granted for major Belfast commercial property project

By Neil Logan The Planning Committee of Belfast City Council have approved an application to convert Windsor House in Bedford Street into the Belfast Grand Central Hotel with 200 bedrooms. The Hastings... Read more

Further activity in the Northern Ireland commercial property market

By Neil Logan British Land, one of the largest commercial property firms in the UK has put three retail sites in Northern Ireland on the market for sale. The Northern Ireland commercial... Read more

Increased activity on Northern Ireland's commercial property market

By Neil Logan There are signs of increased activity on Northern Ireland's commercial property market following a number of high profile properties were announced for sale or confirmed as having been... Read more

Quarter of Northern Ireland businesses struggling with rising rates bills

By Neil Logan Nearly a quarter (23 per cent) of businesses in Northern Ireland say they are struggling to cope as a result of rising rates bills, and there are calls... Read more

SMEs risk asset seizure as 31st July tax deadline approaches

By Neil Logan Small businesses in Northern Ireland and the rest of the UK are at risk of having their goods and assets seized if they do not comply with tax... Read more

Demand for offices in Belfast boosting commercial property market

The growing demand for Grade A offices in Belfast is continuing to boost the commercial property market, with yet another announcement of a key office development this week. Belfast City Council... Read more

Interest rate freeze continues following MPC vote

By Lauren Burns The Monetary Policy Committee of the Bank of England has again voted to maintain the interest rate freeze at 0.5 per cent. The record low rate was introduced just... Read more

Bank of England maintains interest rate freeze

By Natasha Adamson The Monetary Policy Committee of the Bank of England has voted once again to maintain the interest rate freeze at 0.5 per cent, meaning we could reach a... Read more

£500m of commercial property sales in Northern Ireland in 2014

By Neil Logan Commercial property sales in Northern Ireland reached their highest levels for many years in 2014, with £500million worth of transactions. Sales of high profile commercial buildings in Belfast pushed... Read more

NI developer says bank should have warned of property crash

By Gillian Crotty Michael Taggart, formerly a property developer and one of the wealthiest men in Northern Ireland, says the Ulster bank should have warned him about their serious concerns about... Read more

Shortage of commercial property for rent in Belfast

By Neil Logan There is a growing need for more top class office space in Belfast according to the head of the Royal Institution of Chartered Surveyors (Rics). Paul McKendrick, the head... Read more

Record year for Northern Ireland commercial property market

By Neil Logan The first 9 months of 2014 has seen £411million of investment in commercial property in Northern Ireland, with CBRE Ireland's latest bi-monthly analysis suggesting it has been a... Read more

Property regeneration plan for Belfast unveiled

By Michelle Rock A large property regeneration project in Belfast city centre has been unveiled today, which could see the construction of 3,000 apartments and houses in a site next to... Read more

High profile Belfast commercial property for sale

By Neil Logan The owners of the Connswater Shopping Centre in east Belfast will be hoping that the current revival in the commercial property market in Northern Ireland will result in... Read more

More NI employees of Phones 4U escape redundancy

By Gillian Crotty Approximately 43 employees of Phones 4U in Northern Ireland appear to have escaped redundancy with the announcement of a second company buying some of the shops from the... Read more

NI business fears competition from independent Scotland

By Neil Logan Business leaders in Northern Ireland have spoken of their support for a 'No' vote in Thursday's independence vote in Scotland. Businesses in Northern Ireland currently sell £1billion in goods... Read more

Hotel sale signals NI commercial property revival

By Neil Logan The slow but steady revival of the Northern Ireland commercial property market was indicated once again with the £4.4million sale of the Tower Hotel in Derry. The values of... Read more

Interest rate freeze continues for another month

By Natasha Adamson UK interest rates will remain at 0.5 per cent for another month after the Bank of England's Monetary Policy Committee (MPC) voted to maintain the freeze. Mortgage borrowers and... Read more

Plan for new use of NI vacant retail commercial properties

By Neil Logan A new initiative has been proposed to allow existing retailers to use vacant retail properties in Northern Ireland to advertise their products and services without triggering a rates... Read more

Rise in Northern Ireland commerical property investment

By Neil Logan There has been a sharp increase in investment in Northern Ireland commercial property in 2014, with £144million spent in the first two quarters of the year. According to property... Read more

Lack of commercial property office space in Belfast

By Neil Logan There is a lack of quality commercial property office space in Belfast according to agents CBRE, who say an increasing number of foreign buyers are looking to invest... Read more

Tallest commercial property in Northern Ireland up for sale

By Neil Logan The tallest commercial property in Northern Ireland is being marketed for sale by the National Assessment Management Agency (Nama). The Windsor House in Belfast city centre has 22 floors... Read more

Belfast property to be converted into student accommodation

By Neil Logan It was has been confirmed that the landmark 'Old Tech' commercial property in Belfast will be converted into student accommodation by the 2016 academic year. The sale of the... Read more

Sale of landmark Belfast commercial property confirmed

By Neil Logan It has been confirmed that a landmark commercial property in Belfast, the 'Old Tech' building on College Square East, has been sold for an undisclosed price to private... Read more

Survey shows Northern Ireland construction activity rise

By Lauren Burns A new business survey suggests that the Northern Ireland construction sector is starting to see some recovery, with the fastest rate of growth in over 10 years recorded... Read more

Belfast commercial property project gets planning permission

By Neil Logan A large commercial property project in Belfast Harbour has been granted planning permission. The City Quays project will include a hotel, offices, residential units, restaurants and small retail units,... Read more

UK interest rates freeze continues at 0.5 per cent

By Christine Farrell As was widely expected the Monetary Policy Committee (MPC) of the Bank of England has voted to maintain the interest rate freeze at 0.5 per cent for another... Read more

Belfast commercial property sales show new confidence

By Neil Logan The sale of three large commercial properties in Belfast in the past month suggest there is a return of confidence in the Northern Ireland commercial property market. A US... Read more

Fewer Northern Ireland companies with serious debt problems

By Gillian Crotty A new report suggests that there are fewer Northern Ireland companies with serious debt problems compared to last year. The Red Flag report in respect of the first quarter... Read more

Junction One commercial property drops 93pc in value

By Gary Adair The staggering decline in the value of the Junction One shopping centre near Antrim is indicative of the continuing struggles of the Northern Ireland commercial property market. In 2009... Read more

Stamp duty change for houses purchased through companies

By Christine Farrell While the 2014 budget speech made no change to the rate of stamp duty for private individuals purchasing residential property, it did contain one announcement aimed at curbing... Read more

MPC member says interest rates rise likely in Spring 2015

By Natasha Adamson Spring 2015 is fast becoming the unofficial date for an interest rate increase, with a Bank of England Monetary Policy Committee member (MPC) being the latest to say... Read more

Interest rate freeze continues

By Michelle Rock As expected the Bank of England's Monetary Policy Committee has voted to leave interest rates unchanged at 0.5 per cent for another month. While the predictions on when interest... Read more

Link interest rate increase to wage growth says economic group

By Natasha Adamson The Bank of England is being urged to add to it's forward guidance policy by linking any future increase in interest rates to growth in real-term wages. The EY... Read more

Lack of commercial office property in Belfast

Research by a commercial property agency says Northern Ireland is at risk of losing out on external investment because of a lack of office space in Belfast. The Lisney agency says... Read more

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... Read more

Wozniak calls for companies to be taxed on income

At a conference in Londonderry, Northern Ireland, Apple co-founder Steve Wozniak called for companies to be taxed on their income instead of profit to bring them into line with the... Read more

Mansion tax defeated in House of Commons

The Labour party proposal of a "mansion tax" on properties in the UK worth over £2million has been defeated in the House of Commons. The proposal was criticised as being a... Read more

NI developers to be forced to complete sites

A power under the Planning Order to require developers to complete developments they have begun work on in Northern Ireland is being tested for the first time. There are a large... Read more

Court gives green-light to Causeway Golf resort

The construction of a £100m golf resort can now begin near the Giant's Causeway in Northern Ireland, after Mr Justice Weatherup rejected the challenge by the National Trust against the... Read more

Causeway golf complex challenge at High Court

The Belfast High Court is currently hearing the arguments of the National Trust in support of its challenge to the planning permission granted to build a £100million golf and hotel... Read more

NI commercial property market stabilising

The Northern Ireland commercial property market is showing signs of stability according to a report by University of Ulster academics. Social Development Minister Nelson McCausland launched the report that was co-produced... Read more

Belfast's tallest building repossessed

The tallest building in Belfast, the Obel, has to all intents and purposes been repossessed after administrators were appointed to the three companies that control it. The Belfast commercial property consists... Read more

NI businesses get rate relief extension

The rate relief scheme introduced for new businesses in Northern Ireland will be extended by another two years. The scheme provides for a 50% discount on rates if a new business... Read more

Belfast site close to being seized by NIHE

The Northern Ireland Housing Executive (NIHE) has successfully won the first part of a court case in a bid to seize back a site of land in Belfast city centre... Read more

NI businesses request expanded rates relief

Small businesses in Londonderry, Northern Ireland, are backing a request to Finance Minister Sammy Wilson to expand the current rates relief scheme, which has benefited 490 Derry based businesses so... Read more

Belfast Odyssey price tag falls to £10m from £75m

The commercial property adjoining the Odyssey Arena and W5 Science Centre in Belfast has been put on the market for sale at £10million. The Odyssey Pavillion contains 15 units and is... Read more

Businesses seek urgent corporation tax decision

The news this week that 760 Northern Ireland jobs are to be lost at FG Wilson, and that the rate of unemployment has risen above the UK average, has prompted... Read more

Northern Ireland land valued at £75m sold for £4m

A site of land outside Ballymena, Northern Ireland, that was once valued at £75million has been sold for £4million, and to make matters worse, a £50million offer to purchase was... Read more

Labour consider permanent Mansion tax

Labour Shadow Chancellor Ed Balls has said in an interview that a future Labour government may introduce a permanent wealth tax, or mansion tax. The Liberal Democrats have previously proposed a... Read more

Investment risks farmland IHT exemption

The increasing practice of investors purchasing farming land to avoid inheritance tax could result in the IHT exemption on farmland being removed altogether by HMRC. In some areas farmers are finding... Read more

High Court urges swift NI law reform

A High Court judge has warned of the need to expedite Northern Ireland law reform, saying the current proposals before the Assembly should not be allowed to "gather dust". Mr Justice... Read more

NI businesses benefiting from Tesco tax

Over 8000 Northern Ireland businesses have benefited from the 'Tesco tax' brought in earlier this year according to Finance Minister Sammy Wilson, and he hopes that even more will will... Read more

Antrim commercial property drops £60m in value

The continuing decline in Northern Ireland commercial property values has been highlighted once again with the news that the Junction One shopping centre outside Antrim has dropped from an £80m... Read more

Unesco want NI golf course development stopped

Plans to develop a golf course near the Giant's Causeway in Northern Ireland have been dealt another blow after the World Heritaage Committee of Unesco said it would ask the... Read more

'UNESCO should be consulted on Causeway Golf resort'

The Northern Ireland Green Party has joined the debate over the proposed golf resort near the Giant's Causeway, saying UNESCO should have been consulted at some point over the last... Read more

NIHE £75m site of land for sale at £4m

A site of land at Ballymena, Northern Ireland, that was once valued at £75million is now for sale by the Northern Ireland Housing Executive (NIHE) for £4million. The site comprises 97... Read more

National Trust legal action over NI golf course

The National Trust has announced it will go to court to contest the planning permission granted for a £100million golf resort on the north coast of Northern Ireland. The National Trust... Read more

Historic Belfast property to be demolished

An historic structure in Belfast city centre has been given the go ahead to be demolished, despite much resistance from conservation groups. The Athletic Stores building in Belfast city centre is... Read more

Funding to tackle North Coast property dereliction

The Northern Ireland Department of the Environment has announced £405,000 of funding along with a plan of action to tackle the property dereliction in the North Coast, with commercial properties... Read more

Commercial property vacancy high in Derry

An audit compiled by Ilex, an urban regeneration company in Londonderry, has highlighted the high amount of vacant commercial property available for letting in Derry. All combined, the vacant commercial units... Read more

Commercial property vacancy highest in NI

The rate of vacancy of commercial retail units in town centres continues to be highest in Northern Ireland when compared to all other regions on the UK. Approximately 14% of retail... Read more

Belfast commercial property site sold by Nama

The National Asset Management Agency (Nama) of the Republic of Ireland government has confirmed the sale of a commercial property site in Great Victoria Street in Belfast. The site was originally... Read more

Belfast's CastleCourt shopping centre sold

One of the largest commercial properties in Belfast has been sold after one of the existing co-owners Hermes opted to buy out Westfield's interest for a reported £400million. CastleCourt shopping centre,... Read more

Owners of largest Belfast building in administration

Lauderdale Properties, owners of the largest building in Belfast city centre, have been placed into administration. The company purchased the commercial property on Bedford Street in 2007, and it was thought... Read more

NI planning dispute sagas to get quick resolution

Environment Minister Alex Attwood has advised that he will try to speed up the final decision on 25 of the over 50 longest running planning disputes in Northern Ireland. Mr Attwood... Read more

Belfast commercial property value down 90%

The value of a portfolio of Belfast commercial property is dropped in value by 90% in 4 years according to the administrator appointed to CDC Leisure. CDC Leisure purchased four clubs/bars... Read more

Lisburn hotel gets planning permission approval

A new hotel development in Lisburn has been granted planning permission, despite opposition based on a perceived threat to wildlife in the area. Environment Minister for Northern Ireland, Alex Attwood, confirmed... Read more

NI commercial property for sale at £20m

A Northern Ireland commercial property which currently attracts an annual rent of £1.1million is being marketed for sale with invites of offers over £19.4million. The property is situated on the Strand... Read more

Victoria Square commercial property value drops £29m

The Victoria Square shopping centre in the centre of Belfast, Northern Ireland, has dropped in value by £29million in two years according to figures released by the German property fund... Read more

Portadown has highest proportion of vacant shops

New research, carried out by the commercial property company Lisney, looking at the proportion of vacant commercial properties in 17 towns and cities across Northern Ireland has found that Portadown... Read more

Mixed fortunes for NI projects requesting planning permission

Approximately 105 new jobs are to be created in Londonderry after planning permissions were granted for the construction of two hotels in the city. Premier Inn are to build a... Read more

Lisburn retail property schemes to get PAC hearing

A joint hearing is to take place at the Planning Appeals Commission (PAC) to discuss two commercial retail schemes in Lisburn, Northern Ireland, that were refused planning permission. Both schemes involve... Read more

Unsold Assembly property costs £400 per day

The Northern Ireland Assembly currently owns a listed 19th century property, Ormiston House, which is costing taxpayers £400 every day that goes unsold. Despite the property being marketed for sale... Read more

DOE triples fines for damaging listed buildings

Under the new Planning Act (Northern Ireland) 2011, the DOE can now fine developers three times as much as before - up to £100,000, if they knock down a listed... Read more

Castlecourt could be NI's largest property sale

Belfast city centre shopping mall Castlecourt has been put up for sale by its owners for under half the price they marketed it for two years ago, though if they... Read more

Belfast office block to get 10-storey extension

Kinler Properties, based in Dungannon, has announced a major extension to their Belfast city centre office block at the back of 40 Linenhall Street and development of neighbouring land. The... Read more

Belfast Hotel extension plans revised

Belfast Wellington Park Hotel is the subject of a revised planning application for extension, after last years rejection by the Planning Appeals Commission (PAC) of a plan that involved demolishing... Read more

Canary Wharf Citigroup tower for sale

Property entrepreneurs Glenn Maud and Derek Quinlan have put the Citigroup Tower in Canary Wharf, London, on the market for sale at £1billion; the same price they bought it at... Read more

Failed property company's site dropped 90% in value

County Down property company, Olympus Development and Investments, bought a nine acre development site in County Roscommon with a Bank of Ireland loan of £732,000, and the administrator has now... Read more

Controversial Belfast build backed by planners

Planners have given their backing to the building of apartments by Big Pictures Developments Ltd on a site of controversial land at Nelson Street in Belfast. The land had been designated... Read more

North Belfast retail park sold to UK pension fund

The Northern Ireland market was given a vote of confidence by the announcement of the sale of commercial property in North Belfast to a UK pension fund for just under... Read more

Council accepts blunders made in huge land deal

Ards Council in Northern Ireland has come under fire in a report by the audit office for the its handling of commercial property transaction, and in particular, for failing to... Read more

£10million hotel planned for Londonderry

Andras House Ltd will be submitting plans for a £10million hotel and commercial property complex on the grounds of what used to be the Tillie and Henderson shirt factory in... Read more

Reforms to return planning control to councils

Environment minister for Northern Ireland, Edwin Poots, has released details of what he has called "the most sweeping reforms to the planning system for 30 years". The reforms include the... Read more

Commercial property development to decline further

A survey by property consultant Savills has shown that commercial property development activity declined in October for the third month in a row. Public sector activity decreased significantly for the... Read more

Planning application lodged for Belfast redevelopment

Announced five years ago, there has been much speculation since that the multi-million pound redevelopment of part of Belfast city centre would be shelved as no planning application was forthcoming.... Read more

£3m funding for Belfast Commercial property deal

The Blackstaff House building in Great Victoria Street Belfast, currently leased to the BBC, is on course to be purchased by businessmen Edward and Patrick Simpson after they received £3million... Read more

Fears of NI construction decline as result of cuts

The announcement on Wednesday that the Northern Ireland executive's capital spending budget would be reduced by 40% has led to fears that the construction sector could suffer even more than... Read more

Northern Ireland Minister unlawfully changed planning policy

A decision from the High Court, in a case brought by a retail group opposed to the proposed building of a John Lewis store at Sprucefield Lisburn, has found that... Read more

Belfast and Larne properties on sale by receiver

Three commercial properties formerly owned by Jermon Developments, which were effectively repossessed by Anglo Irish Bank, have been listed for sale by the receiver appointed by the bank. The properties... Read more

Slow NI planning process could cost millions in investment

At a time when the Northern Ireland Planning Service is facing staff cuts, Derry City is considering employing extra planning officers to help assist the overwhelmed department. Just a few... Read more

Every Northern Ireland field to be re-mapped

The Department of Agriculture has announced that it is re-mapping 742,000 fields in Northern Ireland at a cost of £4.8million after the European Commission imposed fines over mistakes made in... Read more

Corbo £48m sale of Newtownabbey Retail Park

Corbo have completed a hat-trick of high value property sales in the space of 3 months, with their latest transaction involving the sale of the Longwood Road Retail Park in... Read more

John Lewis planning row goes to Belfast City Hall

The proposed expansion of Sprucefield at Lisburn, which has been anchored by John Lewis, has hit heavy resistance from day one. After an original application in 2005 was withdrawn after... Read more

Planners reject Wellington Park Hotel rebuild plan

The owners of the Wellington Park Hotel in Belfast have had their application to tear down and rebuild the hotel turned down by the Planning Appeals Commission (PAC). Owners, the... Read more

Northern Ireland construction at 10 year low

Construction in Northern Ireland has fallen to its lowest level since the Royal Institution of Chartered Surveyors (RICS) began their survey 10 years ago. The latest survey shows a reported... Read more

Belfast city centre property sold for £8.75m

CBRE Investors have completed the purchase of 48-54 Donegall Place in Belfast city centre from property company Corbo for £8.75million. The 83,000 sq ft property is currently let to Marks... Read more

Public could be charged to view planning files

Northern Ireland Environment Minister, Edwin Poots, has said that he is considering the implementation of fees for any member of the public wishing to view planning files. Speaking to the... Read more

Housing Association apartments built without Planning Permission

A social housing scheme in Northern Ireland, funded by government money to the tune of £1million, and constructed by Helm Housing Association, has been revealed to have been built without... Read more

'Belfast redevelopment is proceeding' says DSD

The Department of Social Development (DSD) has acted quickly to dispel news stories that the £360million plan to redevelop Belfast has been shelved. News reports had suggested that the 'Royal Exchange'... Read more

?55billion of UK commercial property debt up for refinance

A survey of the UK Commercial Property Lending market by De Montfort University has showed that almost 25% of commercial property loans and debt-backed securities will mature by December 31st,... Read more

Developer Sweeney ends challenge to new planning framework

Property developer Seymour Sweeney has ended his legal challenge to the new Draft Northern Area Plan (DNAP) by withdrawing from the two judicial reviews. The owner of Seaport Developments had... Read more

Belfast Hotel project dropped by developer

The economic downturn is seemingly to blame for another large commercial building project falling through in Northern Ireland. In 2007 the Department for Social Development appointed Tullymore House Ltd as... Read more

Did Environment Agency objection get rid of Belfast's Big Wheel?

The Big Wheel which soon became a familiar sight outside Belfast City Hall has ceased operation. Great City Attractions, the company that owns the Wheel, announced a few weeks ago... Read more

Planning permission granted for Belfast Titanic Quarter projects

Edwin Poots, Environment Minister, has confirmed that planning permission has been granted in respect of projects at the Titanic Quarter in Belfast. The projects are thought to be worth an... Read more

Rating of empty commercial properties to remain at 50%

Sammy Wilson, Finance Minister for Northern Ireland,  has announced the decision to maintain the 50% rating policy for empty commercial properties which was introduced in 2004. After an evaluation of... Read more

8.1% Q4 capital growth seen in commercial property sector

A substantial capital growth was witnessed in the UK's commercial property sector during the closing quarter of 2009, new figures have suggested.Growth of 8.1 per cent was seen during the... Read more

UK firms encouraged to meet fire risk requirements

UK businesses should consider making use of risk assessors to ensure that they are fulfilling the fire risk requirements that are expected of them, it has been suggested.According to Andrew... Read more

Squatters can be expensive, commercial property owners told

Commercial property owners who leave their buildings vacant have been warned that they should have the correct level of legal expenses cover to protect against squatters occupying their premises.According to... Read more

Recession 'still affecting commercial property sector'

The UK's commercial property sector is still being affected by the financial consequences of the economic downturn, an expert has highlighted.According to the British Property Federation's (BPF) real estate director... Read more

New service launched by Wilson Nesbitt a first for Northern Ireland

In a first for Northern Ireland, Wilson Nesbitt Solicitors of Belfast have launched their new business law guide and document builder website. People visiting www.wilsonnesbittonline.co.uk will have free access to... Read more

NHBC confirms increase in number of new homes being built in N.I.

Statistics published by the National House Building Council (NHBC) in their quarterly booklet show that the number of registrations to build new homes in Northern Ireland and the rest of the... Read more

New environmental rating introduced for UK office properties

UK businesses looking to improve the green credentials of their office properties might soon be able to take advantage of a new environmental rating system.Developed by the Royal Institution of... Read more

Commercial property optimism 'could be premature'

Investors have been warned not to get too excited about positive commercial property forecasts and figures, as the recovery could be short-lived.There is a danger that the recovery will happen... Read more

Commercial property sector 'saw Q3 rise in capital values'

The third quarter of 2009 saw capital values increase within the UK's commercial property sector, new figures suggest.Published by Investment Property Databank (IPD), the UK Quarterly Property Index reveals that... Read more

UK commercial property industry 'will not rebound overnight'

The UK's commercial property market still has some way to go before it returns to previous levels of activity, according to one expert.Recent figures published by Jones Lang LaSalle have... Read more

UK commercial property lending 'still fairly low'

Lending within the UK's commercial property sector remains fairly low, according to one economist, despite the publication of more promising figures.Research from Savills suggests that an increasing number of financial... Read more

NI businesses 'may save money' through low carbon strategy

Large businesses in Northern Ireland may be able to save money by taking steps to cut their carbon emissions, it is suggested.The UK-wide Carbon Reduction Commitment Energy Efficiency Scheme will... Read more

Capital growth returns to commercial property market

The UK's commercial property market experienced capital growth for the first time in 26 months during August, research has revealed.According to the Investment Property Databank's (IPD's) latest UK Monthly Index,... Read more

Opportunities 'emerging in commercial property market'

Entrepreneur and Dragons' Den star James Caan has given his backing to the commercial property market, claiming that opportunities are now beginning to emerge.He made the claim that real estate... Read more

NI commercial property market looking up

Prospects for Northern Ireland's commercial property market are looking up, it has been claimed. According to CB Richard Ellis's latest Northern Ireland MarketView publication, activity within the commercial property sector... Read more

Confidence on the rise in commercial property market

Commercial property investors in the UK and Northern Ireland are regaining confidence in the market, it has been suggested.Speaking at the Investment Property Databank's UK Quarterly Property Briefing, John Masters,... Read more

Commercial property turns a corner, report says

The value of commercial property across the UK has increased, new figures show. Data from CB Richard Ellis (CBRE) shows that commercial property prices increased by 0.2 per cent during... Read more

Commercial property bids 'rise in the UK'

New research has revealed that commercial property investment activity in the UK and Northern Ireland increased in the last quarter.The latest Royal Institution of Chartered Surveyors (Rics) Global Property Survey... Read more

Study highlights stabilising commercial property returns

The level of return available from commercial property assets in the UK and Northern Ireland is stabilising, according to new research.CB Richard Ellis's (CBRE's) latest Monthly Index has revealed that... Read more

Figures reveal improvement in commercial capital growth

The pace of decline in commercial property capital growth across the UK and Northern Ireland is slowing, new figures have revealed.According to the latest Monthly Index from Investment Property Databank,... Read more

Commercial property investors turn to demolition

The commercial property sector in Northern Ireland and the rest of the UK could face tougher times in future because the empty property rates (EPR) has led to a rise... Read more

Flexible rent arrangements recommended for commercial property

Commercial property investors in Northern Ireland and the rest of the UK have been advised to be flexible when it comes to taking rent from businesses in light of the... Read more

HSE carrying out refurbishment sites inspection

Solicitors in Northern Ireland with commercial property clients dealing with refurbishment work are advised to ensure their clients are complying with health and safety rules and regulations.The Health and Safety... Read more

EPCs becoming vital for securing new clients

Solicitors in Northern Ireland may want to ensure that their clients are taking advantage of government financial support if they carry out energy efficiency upgrades.Residential mortgage provider Paragon is urging... Read more

Commercial property investors urged to protect investments from vandals

It is vital for commercial property investors in Northern Ireland to ensure that their investments are protected from vandals or arsonists if left empty, it has been stated.The credit crunch... Read more

Commercial property sectors 'firmly in the negative'

New figures from the Royal Institution of Chartered Surveyors (Rics) show that the commercial property sector across the country is continuing to feel the pressure of the economic downturn.For the... Read more

Consumers urged to understand a contract before committing

It may be wise for property investors in Northern Ireland to let their solicitors have a look at any contracts they sign with an estate agent to prevent them from... Read more

Buy-to-let a 'sound investment'

Buy-to-let is still a sound property investment and investor landlords will be lured back into the market by the end of the next year, the Association of Residential Lettings Agents... Read more

Empty property tax reprieve 'does not help many'

In news that may be of interest to solicitors in Belfast, the government's empty property tax reprieve has been faulted by an expert who says it means that many businesses... Read more

Evidence needed to justify withholding deposits

Commercial and residential property investors must provide sufficient evidence if they need to withhold part or all of a tenant's deposit, solicitors in Northern Ireland may be interested to know.This... Read more

'Clever' strategies needed by buy-to-lets

Commercial property investors with rental stock in Northern Ireland must put in place the best strategy to maximise the returns on their investments or make a loss, solicitors in Belfast... Read more

Now is the time to buy property, investors told

In news that may be of interest to solicitors in Belfast with commercial property clients, the current property market presents "the best opportunity for buying" in 20 years, according to... Read more

Construction industry needs attention from Queen's Speech

Impending redundancies are just some of the issues facing the construction industry, which has been badly affected by the credit crunch, and needs special attention from the Queen's Speech, it... Read more

Construction industry jobs will be needed in the near future

Preserving engineering, surveying and architecture jobs in Northern Ireland should be given priority as these jobs will be needed once the financial downturn is over, it has been claimed.A "stinging"... Read more

Commercial property investment back to 'normal'

In news that may be of interest to solicitors in Northern Ireland, commercial property investors are beginning to take interest in investing again following a tumultuous October, an expert has... Read more

300,000 jobs carnage imminent unless government acts

Solicitors in Northern Ireland may find themselves besieged with redundancy cases from the construction industry following revelations that it is at risk of shedding at least 300,000 jobs in the... Read more

Demand for rental stock high as mortgages thin out

Commercial property investors with rental assets in Northern Ireland may be benefitting from a scarcity of mortgage products as many people opt to rent, the National Landlords Association (NLA) has... Read more

Crosby review recommendations can help property market

New data shows that gross mortgage lending registered a marginal increase of seven per cent in October with £18.7 billion compared to the £17.5 billion recorded in September.According to the... Read more

Crosby review recommendations can help property market

New data shows that gross mortgage lending registered a marginal increase of seven per cent in October with £18.7 billion compared to the £17.5 billion recorded in September.According to the... Read more

FMB urges government to adopt its proposals

A proposal to help kick-start the building industry has been floated to the Chancellor of the Exchequer, Northern Ireland solicitors dealing with commercial property may be pleased to hear.The Federation... Read more

FMB urges government to adopt its proposals

A proposal to help kick-start the building industry has been floated to the Chancellor of the Exchequer, Northern Ireland solicitors dealing with commercial property may be pleased to hear.The Federation... Read more

FPB 'dismayed' by abolition of empty property rates relief

The ending of the rate relief on empty property alongside other factors has had a "significant impact" on commercial property investors and small businesses, it has been stated.In news that... Read more

FPB 'dismayed' by abolition of empty property rates relief

The ending of the rate relief on empty property alongside other factors has had a "significant impact" on commercial property investors and small businesses, it has been stated.In news that... Read more

Commercial property plagued by 'inflexible' contracts

Inflexible commercial property contracts are a "major reason" for the industry's troubles and can lead to firms vacating properties, solicitors in Northern Ireland may want to know.That is the opinion... Read more

Commercial property plagued by 'inflexible' contracts

Inflexible commercial property contracts are a "major reason" for the industry's troubles and can lead to firms vacating properties, solicitors in Northern Ireland may want to know.That is the opinion... Read more

UK commercial property valuations most accurate

Solicitors in Northern Ireland may want to know that of the four largest property investment markets in Europe, UK commercial property valuations are the most accurate.That is the glowing commendation... Read more

Bank reaction to bailout to affect landlords

Solicitors in Northern Ireland may want to watch keenly how interbank lending markets react to the cash bailout coming from the government, especially if they have buy-to-let investors as their... Read more

Construction firms should brace for 'challenging times'

Commercial property investors in Northern Ireland and other areas across the UK are experiencing an "extremely challenging time" due to the current financial crisis, an association has said.According to the... Read more

Property sector in for a rough time

The current financial turmoil has affected the property sector immensely and a property recovery is not expected for months to come, an economist has predicted.Solicitors in Northern Ireland should brace... Read more

Commercial property market not out of the woods yet

The commercial property market in Northern Ireland and the UK in general will continue to suffer for some time despite the government bail out, an economic expert has claimed.Solicitors may... Read more

Commercial property industry good in Northern Ireland - Nick Reid

A property industry chief executive has said that business is good in Northern Ireland, saying that the economy was having a "significant" impact on the type and nature of commercial... Read more

Increase in pre-tax profits for Bank of Ireland

The Bank of Ireland has reported an increase its pre-tax profits for the first half of this year. Profits were worth close to €124 million (£97.8 million) over the course... Read more

Smaller commercial property to have energy standards

The government is planning to extend the energy performance certificate (EPC) scheme to all premises over 2,500 metres squared when built, sold or rented.Under the existing EPC scheme, commercial buildings... Read more

Belfast 'UK's fastest-growing economy'

Belfast has been the fastest-growing economy of the 30 largest British cities over the past decade, a new report has found.Northern Ireland's regeneration projects and investment in the province have... Read more

Diverse views over commercial property recovery

There are a variety of views surrounding when the commercial property market will recover, a new survey has found.According to research from REITA - an organisation established by commercial property... Read more

Northern Ireland developments shortlisted for awards

Some developments in Northern Ireland have been put on the shortlist for the Royal Institution of Chartered Surveyors (Rics).Rics has recognised the regeneration of Bagenal's Castle and the extension to... Read more

Northern Ireland 'an attractive investment opportunity'

Northern Ireland represents an attractive opportunity for investment for overseas companies, according to Shaun Woodward.The Northern Ireland secretary told BBC Radio 4's World at One programme that despite higher levels... Read more

'A fair price' for commercial property in NI

Commercial property is more fairly priced than it was six months ago, according to an economic research consultancy.Capital Economics' property economist Ed Stansfield said commercial property in the UK is... Read more

Commercial property rates review gets underway

Commercial properties in Northern Ireland are shortly to be contacted about the impending rates revaluation. Finance minister Peter Robinson announced that business property taxes would be reviewed in July... Read more

Property owners in debt to government

Solicitors in Belfast and Northern Ireland could see the government in need of debt recovery services, after the Belfast Telegraph revealed that ratepayers in the province owe them over £140... Read more

Buy-to-let 'not pushing FTBs off property ladder'

Solicitors in Belfast and Northern Ireland should not expect to see fewer first-time buyers (FTBs) able to afford property as a result of buy-to-let investors, experts claim.According to figures from... Read more

Bridging loans 'aid quick property purchase'

If homebuyers in Belfast and Northern Ireland whose finances are stretched were to take out a bridging loan, it could mean less people being pursued by solicitors for debt.However, bridging... Read more

Landlords 'still confident'

Despite the rising house prices in Belfast and Northern Ireland, solicitors in the province are more likely to see landlords buying additional property than they are to see investors selling... Read more

Landlords 'put off selling by logistics'

Solicitors in Belfast and Northern Ireland are unlikely to see landlords selling their property despite a slowdown in the housing market, experts have claimed.According to PropertyHawk website, solicitors in Belfast... Read more

'No panic' over commercial property slump

Accountants and solicitors in Belfast and Northern Ireland may have seen investors in commercial property funds trying to withdraw their money, but experts warn against panic selling.While solicitors in Belfast... Read more

Nipsa probes government settlement

While solicitors in Northern Ireland have resolved a government court case, trade union Nipsa is angry that there has not been more transparency about the settlement. The Department of Finance... Read more

£8m estate up for sale

Solicitors in Northern Ireland will have to wait to find out who the buyers of an historic Ulster estate are, as it goes up for sale this week - but... Read more

Overseas property investors 'need solicitors'

People from Belfast and Northern Ireland who are planning on buying a property overseas must contact their solicitors as soon as possible, experts have said.According to www.carolvordermanoverseashomes.com, as soon as... Read more

Stability the hallmark of New Year property

Solicitors in Northern Ireland will be likely to see more first-time buyers as well as commercial property investors securing their dream deal, as experts claim that prices in 2008's market... Read more

HSE warns landlords on gas

Landlords in Belfast and Northern Ireland may have to call in solicitors if they do not heed the latest warning on gas appliances from the Health and Safety Executive (HSE).People... Read more

Commercial mortgage 'not only option'

Small businesses buying a commercial property in Northern Ireland should visit their solicitors for advice on funding, as a commercial mortgage is not the only answer, experts have claimed.Northern Ireland... Read more

NI suits Trump to a tee

Solicitors in Northern Ireland could be securing a commercial property deal for tycoon Donald Trump after he suggested he might want to build a golf resort in the province.So far... Read more

Belfast development wins award

Solicitors in Belfast may find the happiest homebuyers in the city in those who have invested in Malone Square.Northern Ireland development and construction firm, the McGinnis Group, has won the... Read more

Buy-to-let 'not as doomed' as thought

Northern Ireland solicitors who worried that landlords would be put off purchasing property due to some analysts predicting a gloomy future for the buy-to-let market may have their fears allayed... Read more

NI countryside open for property developers?

Solicitors in Northern Ireland have seen many commercial property developers unsure of where they stand as regards building in the countryside due to restrictive legislation; and although the PPS 14... Read more

Capital gains tax blighting business

Solicitors in Northern Ireland are likely to see more entrepreneurs investing in commercial property and fewer people prepared to start up their own small businesses, if the government does not... Read more

Buy-to-let investors 'must be mad'

Solicitors in Northern Ireland could see fewer buy-to-let investors, unless they are very wealthy, as the interest rate precludes landlords making a decent profit, experts warn.According to Firstrung, landlords in... Read more

Property developer tempts buyers with free car

Solicitors in Northern Ireland will have noticed a big drop in the number of people buying property in the province, and it appears that property developers are feeling the squeeze... Read more

More HMOs have to be registered

Solicitors in Northern Ireland may have to help out landlords facing prosecution if they do not to register their properties with the Housing Executive. The Housing Executive (HE) has announced... Read more

Record-breaking rent good news for landlords

Solicitors in Northern Ireland are likely to see more landlords needing legal advice on commercial property as spiralling house prices in the province have forced more people to rent.Belfast solicitors... Read more

Full steam ahead for Titanic development

The largest property development ever to be built in Northern Ireland has been given the green light today as part of an expansion scheme in Belfast's Titanic Quarter.Three million square... Read more

Buy-to-let gaining strength

Given the fact that property prices in Northern Ireland have continued to remain high, solicitors are more likely to see commercial property investors than new buyers for conveyancing services.According to... Read more

Buy-to-let mortgages safe as houses

Commercial investors in buy-to-let property in Britain and Northern Ireland should not be affected by a drop in tenant numbers, despite the housing market continuing to cool, experts have said.According... Read more

Belfast attracts record investment

Solicitors in Northern Ireland are particularly likely to see investors in commercial property in Belfast for services, as a new survey reveals that only London attracts more foreign investment of... Read more

Land law could cripple countryside

Following a consultation, a review into the rural planning law PPS 14 concerning building limits in Northern Ireland's countryside will be published shortly. The findings of the review could be... Read more

Rate rises push up repossessions

The number of repossessions in Britain and Northern Ireland has increased by 32 per cent since April, according to a new report.The Royal Institute of Chartered Surveyors (Rics) has revealed... Read more

Belfast rents on the rise

While new buyers in Northern Ireland are being squeezed out of the housing market due to overinflated house prices, commercial landlords have been able to push up rents as youngsters... Read more

NI commercial property market controlled locally

Solicitors in Belfast are more likely to see clients who come from Northern Ireland for commercial property transactions, as local people are pushing out foreign investors. Northern Irish chartered surveyors... Read more

Dissolution to solve selling distress

Proposals to change the law could result in easier transactions for people who want to sell their apartment in a development where the facilities management has a poor track record.Until... Read more

In hot water over bricks and mortar

Howard Kennedy solicitors is facing a professional negligence claim after its property department allegedly misinformed Secured Property Finance (SPF) about commercial property loans.The £1.7 million negligence claim was filed in... Read more

Banking on a hotel boom

Solicitors could see more people looking to seal deals on buying hotels in the near future, as the Ulster Bank has predicted a major boom in the tourism industry in... Read more

Empty commercial property afforded less tax relief

Businesses that leave commercial properties empty will no longer enjoy the rate of tax relief that they previously did due to new government legislation. Currently disused commercial premises across Northern... Read more

Landlords see rents as 'stable'

A new report has found that landlords in Britain and Northern Ireland are seeing stable rental values.Research carried out by Paragon Mortgages has found that over 50 per cent of... Read more

Investors attracted by NI commercial property prime yields

A new report from real estate firm CBRE shows that Northern Ireland commercial property prime yields are currently the higher than Great Britain and the Republic of Ireland Prime yields are... Read more