Professional recruitment agency VANRATH has purchased Victoria House in Belfast city centre from Aviva in a £12.5m sale which was managed by Lambert Smith Hampton and Riddell McKibbin. The acquisition of the 58,000 sq ft Grade A development on Gloucester Street is one of the most significant commercial property deals in the city this year. VANRATH will occupy vacant space …
Public Sector Infrastructure Investment Continues Despite Challenges
A series of recent transactions managed by commercial agents Lambert Smith Hampton have signalled that the public sector is continuing to make significant and positive investments in infrastructure projects, despite the lack of a functioning Assembly and ongoing Brexit uncertainty. Ulster University’s purchase of the former Foyle College site in Londonderry marks a milestone in the development and expansion opportunities …
Record Year For Belfast Office Market As Occupier Confidence Continues To Drive Demand
The Belfast office market set a new annual record in 2018, with total take-up reaching highs of 885,023 sq ft, more than double that of 2017 and 82 percent above the five-year average, according to Lambert Smith Hampton’s Ireland Office Market Report 2019 which was published today. The outstanding year was underpinned by the two single largest lettings of the …
Belfast Revealed As Attractive Location For Compact Hotel Development
Compact hotel formats may be increasingly viable in cities such as Edinburgh, Dublin and Belfast, which are ranked as the three most attractive locations for hotel development and investment according to new research from Lambert Smith Hampton (LSH). LSH’s new report, Do Disturb: Disruption & Innovation in the Hotel Market, finds that the compact hotel room concept, which typically prioritises …
NI Commercial Property Investment Subdued In Q3
Commercial property investment in the third quarter of 2018 remained subdued with volume recorded at £53.2m, according to Lambert Smith Hampton’s latest Investment Transactions Northern Ireland report. The ITNI Bulletin Q3 2018 reports that year-to-date total investment volume stands at £121m, a decrease of 52 percent on the same period in 2017. While investor appetite has improved, Q3 activity overall …
Belfast Office Market Hits Record Half Year Take-Up Level
Office market activity in Belfast has had a stellar start to 2018, reaching the highest half year take-up level on record and surpassing the annual total for the last ten years, according to Lambert Smith Hampton’s Belfast Office Market Update H1 2018. At 538,646 sq ft, activity in the first half of 2018 was more than double the same period …
Prominent Botanic Avenue Property Comes To The Market
A prominent 4,200 sq ft building located on the popular Botanic Avenue in Belfast has come to the market today, with offers expected to reach in excess of £800,000. Located a short distance from Queen’s University, 93/95 Botanic Avenue is let in its entirety to Bubbacue on a ten year term from 3rd May 2017 at an initial rental of …
Ground Espresso Opens In Victoria Square
Ground Espresso has opened a new 50-seater store in Victoria Square, creating 12 new jobs. Founded in 2001, Ground Espresso Bars is a family owned and operated business which employs over 300 staff across 24 stand-alone stores and concessions in Ireland. Lambert Smith Hampton acted on behalf of Victoria Square to secure the new tenant. Hannah Houston, Senior Support Manager, …
Commercial Property Occupiers Urged To Prepare For Business Rates Revaluation
All commercial property occupiers in Northern Ireland are being advised to provide Land and Property Services (LPS) with accurate information as part of the Business Rates Revaluation Process 2020 in order to avoid receiving an incorrect rates bill, according to a director at Lambert Smith Hampton. Businesses will receive electronic questionnaires from LPS this weekend – 1 April 2018 – …
Demand For High Quality Space Boosts Belfast Office Market
Office market activity in Belfast finished 2017 in a strong position with take-up levels reaching 430,290 sq ft – 11 per cent above the five year average – despite a slow start to the year, according to Lambert Smith Hampton’s Ireland Office Market Report 2018. Occupier demand for high quality space increased in H2 2017 with grade A stock accounting …