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£1.3 BILLION PROPERTY PORTFOLIO INVESTMENT FOR NI

The Department for International Trade, alongside Invest NI, has announced a commercial property portfolio for Northern Ireland worth more than £1.3 billion.

The portfolio aims to attract both UK and international investors to Northern Ireland, with specific focus on office space, residential and hotel/retail opportunities. Recent research from CBRE identified Belfast as the world’s third fastest growing office market.

Factors such as a young population, good quality education, and a thriving tourism sector is seen as an attractive offer to investors; indeed 75% of the 900 international businesses already located in Northern Ireland are continuing to reinvest in the country.*

The projects featured as part of the portfolio are:

Titanic Quarter: Further expansion to include film studios and post-production facilities, as well as office and residential developments.

Weavers Cross: With the development of the nearby Transport Hub, there is potential for offices, residential, hotel and retail.

Sirocco Quays: Mixed use development of offices, hotel, residential, retail and leisure.

One Bankmore Square: Former site of a Movie House Cinema, full planning permission has been grated for Grade-A offices.

Corporation Square: £92 million development including hotel, offices and residential – with potential to tie in to York Street Interchange.

Norwich Union House: (Corner of Fountain Street/Castle Street) Potential for offices and retail in the heart of the city centre.

Baptist Church: Grade-A offices close to the new Transport Hub.

Gordon McElroy, Director at MKB Law states: “This recent announcement is a significant boost for the city and Northern Ireland as a whole. As 2016 President of the Belfast Chamber of Trade and Commerce, our manifesto for the city highlighted the demand for further investment and regeneration and I am delighted to see many aspects of this coming to fruition.”

MKB Law’s Corporate Team and Commercial Property Team are highly skilled in all areas of property and business development. To discuss your future plans with us, contact us today on 028 9024 2450 or email info@mkblaw.co.uk.

Published 20 October 2017

*Source: LNB News 

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