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Belfast top city for office investors

The Belfast office market is performing better for investors than the likes of Manchester, Liverpool, Glasgow, Cardiff and London. 

A report produced by Ulster University and MSCI in collaboration with RICS commercial property firms, entitled The Northern Ireland Commercial Property Investment Review, benchmarked the Northern Ireland and Belfast market against UK and European markets. 

The report claims that commercial property in Northern Ireland posted a total return of 1.7 per cent in 2018, down eight per cent the year before, but points out that the income return of seven per cent for NI exceeded that recorded for other UK nations in 2018, with NI continuing to perform, with the Belfast office market seeing returns of 12.4 per cent, well above the UK average of six per cent and European average of eight per cent.

RICS Regional Manager, Susan Mason, said: “This is the only independent analysis of the Northern Ireland commercial property sector that benchmarks it against other regions and cities, so it is an extremely valuable report that will be of significant use to surveyors, investors, and others in the property sector.”

BBP launches sustainable property management publication…

In a bid to develop a more ‘consistent’ approach to sustainable practices, members of the BBP Managing Agents Partnership have come together to produce a practical document of sustainability provisions, setting out to ‘form the foundation’ of how sustainability is incorporated into any property management service offering.

The Integrating Sustainability into Property Management Services: Core Provisionsaims to provide clear and concise information on core strategies that should be undertaken by all property management agents in their offerings to clients; as well as detailing how agents can proactively introduce these activities into their daily schedules.
Download the publication here