Bangor Leisure Centre - For Sale
Dunelm shrugs off gloom with 15% profit rise
12th February 2013
H&M to Open in Derry
SemiChem Seeks Pop Ups
Over 70 jobs created at The Outlet
1st December 2011
Poundland Reach 20 Stores in NI
Out to create Blue skies
Fixed Charge Receiver Update
Park Centre Secures New Tenants
B&M Open in Coleraine
TDK on the recruitment trail
What's in store for the economy in 2011?
2011 will continue to be challenging for the property market with confidence, liquidity and demand fragile. 2011 will be an interesting year as our local property developers get used to the challenge of working with NAMA in order to implement their business cases. The developers with loans sitting with the British banks are not immune to this level of bank scrutiny as the non NAMA banks all have their own challenged property departments. Further Administrations and Receiverships are an inevitable consequence of the lack of liquidity and demand in the market place and it would be no surprise to see a few high profile cases.
The office market is still slow and is likely to remain that way for some time. In a market dominated by government departmental requirements and it will be interesting to see if there is an appetite from government to take new space given the spending cuts in place.
Retail is likely to provide the most activity is the marketplace in 2011. Whilst casualties are to be expected from some struggling retailers nationwide, there is still a steady stream of new requirements from retailers looking for space in our Shopping Centres, High Streets and Retail Parks. There will be new entrants to the Republic of Ireland market from UK retailers buoyed by good trade in Northern Ireland. Supermarket requirements remain strong with ASDA, Sainsbury and Tesco all looking to plug gaps in their representation. There may even be room for a new entrant into the supermarket sector!
2011 will hopefully see the final outcome of the tortuous John Lewis saga at Sprucefield and despite reservations with regards to the location, the jobs that the development will bring during an economic downturn may sway the argument.
With an Assembly election due in May it is hoped that the incoming Minister responsible for planning continues the positive approach towards development and sees the benefits that new retail development can bring in terms of investment, jobs and a positive image for Northern Ireland.
Taken from today's article in the Belfast Telegraph by Stephen Deyermond