Daily Mirror (Northern Ireland)
Property deals blow Commercial sales fall by almost half
Investment in the commercial property market has fallen by nearly half to its lowest level since 2013, research has revealed. Agents Lambert Smith Hampton also found £176.6million worth of assets were sold in 2018, 48% lower than 2017 and 12% down on the 12-year average.
Lambert Smith Hampton’s Martin Mccloy said the “challenging political environment has undoubtedly had a negative effect on investment activity over the past two years.
“The usual trend of a quiet first quarter is likely to be exacerbated in 2019 by Theresa May’s plans to reopen negotiation on the Irish backstop and the fast-approaching deadline for the UK to leave the EU in March. Both buyers and sellers are delaying decisions until there is clarity on the Withdrawal Agreement or on no agreement.”
He expects investment to pick up when the UK’S future relationship with the EU is made clearer and the transition period begins. While activity was subdued last year, the retail industry was relatively busy with notable deals including the sale of 40-46 Donegall Place for £16.4million, Bow Street Mall for £12.3million and Castlebawn Retail Park for £7.2million.
In the office sector Lambert Smith Hampton said activity rose in the second half of the year, including the sale of the Metro Building for £21.8million and Obel 68 for £15.2million.
Private investors were most active in 2018, accounting for a third of volume.
Institutional deals rose from 11% in 2017 to 21% last year.
Notable transactions included CBRE Global Investors’ £18.4million purchase of the NCP Car Park.
Mr Mccloy said: “Activity in 2018 has demonstrated good-value investments continue to be attractive to a diverse range of investors.
“In the short-term it is expected this flight to quality will continue, along with demand for alternative assets.”
PRIMARY school children across Northern Ireland are set to benefit from a mental health education scheme this year.
It follows money raised for Action Mental Health by Danske Bank’s employees and customers.
The lender has worked with its charity partner since 2017 to raise awareness of youngsters’ psychological well-being and money for Healthy Me programme.
The charity initiative explores emotional/mental health, lifestyle choices and pathways to effective support through interactive play and song.
Pictured are Primary 6 and 7 pupils from Oakfield Primary in Carrickfergus, Co Antrim, with the school’s Vicky Logan.
They are joined by Aisling Press, head of branch banking at Danske Bank, and Carla Mccoubrey, project worker at Action Mental Health.