Wednesday September 23, 2020

Belfast office market enters the new year at a crossroads

It is clear that in the North has strong fundamentals, despite the obvious micro and macro challenges

24th February, 2019
A CGI image of the pre-let Erskine House in Belfast Pic: Todd Architects

Despite ongoing economic uncertainty in the North since the Brexit vote in June 2016 and devolution of government six months later, take-up of office space and prime rental growth have been unprecedented, with 2018 setting new records. Some 84 transactions, comprising 885,023 square feet (about 82,220 square metres) and more than twice the five-year average, occurred in in the North, primarily in Belfast, with prime rents of £23 per square foot (or about £247.5 per square metre) being achieved.


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