Belfast office space take-up lowest on record
By Claire Graham
image copyrightPACEMAKER
image captionAs more companies allow staff to work remotely, there is concern footfall in the city centre will decrease
Take-up for Belfast office space hit a record low in the second half of 2020, Northern Ireland s largest commercial real estate service has said.
CBRE secured 29 transactions for the whole year, a sq ft decline of 72% on 2019.
The coronavirus pandemic and subsequent lockdowns have been blamed for the drop.
CBRE director Brian Lavery said he was hopeful the end of 2021 would look very different to last year.
Speaking to BBC News NI s Good Morning Ulster, Mr Lavery said the results are out of kilter with our normal market , but it was circumstances none of us had ever seen before or anticipated .
Belfast is ready to bounce back
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The CBRE Northern Ireland team of Gerard McCann, Brian Lavery and Robert Ditty. Picture: Matt Mackey/PressEye 23 February, 2021 01:00
FOLLOWING the recent management buy-out of CBRE s Belfast office from CBRE UK, the Northern Ireland management team says it is looking ahead to future growth.
Led by Brian Lavery, Robert Ditty and Gerard McCann, the new structure, which took effect on January 1, will allow for increased operational flexibility.
Brian Lavery, managing director at CBRE Northern Ireland, said: “We are pleased that this restructuring will give us more autonomy over the running of our Northern Ireland business whilst at the same time retaining the benefits of remaining part of the world s largest commercial real estate consultancy, with all of the resources and research at its disposal.