Lis­ney de­bates lessons from Re­pub­lic mar­ket

Belfast Telegraph - Business Telegraph - - News - BY RYAN MCALEER

COM­MER­CIAL prop­erty con­sul­tants Lis­ney held an event to de­bate whether North­ern Ire­land’s mar­ket can learn from the Re­pub­lic.

Se­nior fig­ures from the agency, which has of­fices on both sides of the bor­der, pre­sented to de­vel­op­ers, banks and law firms at its Dublin of­fice to ex­plore whether North­ern Ire­land could cap­i­talise on the re­cent suc­cesses en­joyed by the mar­ket in the Re­pub­lic.

De­clan Flynn , man­ag­ing di­rec­tor at Lis­ney in Belfast, said av­er­age in­vest­ment from overseas for both North­ern Ire­land and the Re­pub­lic is around 40%.

“But the key dif­fer­ence be­tween the mar­kets is that in­vest­ment in the north is in mil­lions (of pounds) and in­vest­ment in the south is in bil­lions,” he said.

“How­ever, the pop­u­la­tion in the south is only 2.5 times larger than that of the north, and we are not a mil­lion miles apart.

“There are cer­tainly lessons to be learned from our coun­ter­parts south of the bor­der.”

Ac­cord­ing to Lis­ney, in­vest­ment ac­tiv­ity here has tra­di­tion­ally been dom­i­nated by re­tail, whereas the south­ern mar­ket has been dom­i­nated by of­fices, where rents are 2.5 times higher.

Global tech gi­ants in­clud­ing Google and Facebook have contributed to a ma­jor ex­pan­sion of of­fice space in Dublin over the past decade, tak­ing premises over one-third larger than the mar­ket av­er­age.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.