News

Recession ideal for TDK's new practice

04/10/10

The founders of a new all-Ireland commercial property consultancy based in Belfast believe the economic downturn has been the ideal time for them to set up practice.

Mark Thallon, Stephen Deyermond and Tanya McKeown, all former partners in Colliers CRE, said TDK would be ideally placed to take advantage of an upturn in the commercial property market.

Already the business – which is letting premises in Royal Avenue from client Deramore – has scored a high-profile success in the retail sector advising Poundland on its continuing expansion in Northern Ireland.

Mr Thallon specialises in retail, with other clients including Swedish clothing giant H&M, toiletries chain Semi-Chem, bike and car part retailer Halfords, and interior shop Dunelm.

Ms McKeown is at the helm of property management, while Mr Deyermond provides consultancy services, advice on food stores, and also offers a fixed charge receiver service.

Mr Thallon said: "The property market is at a low ebb at the minute, so setting up like this is an opportunity for us to give good advice, and catch the wave on the way back up again, plus we were all at the stage in our careers where we wanted a new challenge."

"We are in a more normal environment than we were two or three years ago. But we are confident that the economy will pick up – and in the retail side, we are seeing a strong retail demand from stores like Poundland and Next Home. H&M are looking at new stores in Ireland, as are Dunelm and Halfords."

"We also look after 750,000 sq ft of Retail Parks in Letterkenny, Sligo, and Tullamore. We have no geographical restrictions."

He said clients benefited from the partners’ hands-on approach. "They deal with us and us only. There is no delegation – simply because we have no one else to delegate to." He also said the challenges of running their own business had given them "a spring in the step."

"We are in control of what we are doing and that’s a huge incentive for us to make it work," he added.

Mr Thallon said he was pleased with their clients’ approach to their new set-up.

"Luckily we have good relationships with good clients who wanted to support us."

Taken from Margaret Canning’s article in the Belfast Telegraph on the 18th May 2010.