Shared - INT_HTML_CONTENT
T: +44 20 7182 2265
T: +44 20 7182 2599
T: +44 20 7182 2340
T: +44 20 7182 2244
T: +44 20 7182 2330
T: +44 20 7182 2712
T: +44 20 7182 2998
Head of Retail Tenant Representation
T: +44 20 7182 2417
T: +44 20 7182 2042
T: +44 20 7182 2020
T: +44 20 7182 2243
Rental values hold firm for second full month after EU
Capital values fell by -0.5% over the month, a significantly smaller decrease than July’s -3.3%.
All Industrials performed the strongest, reporting capital and rental value growth of -0.2% and 0.0% over the month.
Office rents continued to fall, recording -0.1% rate of rental decline.
Only All Retail saw an increase in rental values, rising 0.1% over the month.
UK commercial rents stable while capital values decline
NORTHERN IRELAND GDS SUMMARY BULLET POINTS
Unclear if the 69,703m2 (750,000 sq. ft.) of requirements for offices prevailing at the mid-year point will remain active in light of the Brexit decision
Prime office rents in Belfast remain steady at £188.30 psm (£17.50 psf)
The weakness of Sterling in the aftermath of the Brexit vote is likely to lead to a surge in shoppers from the Republic in the short-term, which will benefit schemes in border towns in particular
In the longer term, retailers need clarity on what is likely to happen regarding the potential imposition of tariffs, customs and the possible reinstatement of a hard border with the Republic
10 investment transactions totalling £70m in NI in Q2, bringing total investment in H1 2016 to £103m in 15 transactions
The unexpected referendum result may see some investment decisions being put on hold in the short term
The hotel sector in Northern Ireland stands to benefit in the short term from the weakness in Sterling
UK prime commercial property rents climb 1.0% in Q2
CBRE Limited, Registered in England No 3536032, Registered office St Martin's Court, 10 Paternoster Row, London EC4M 7HP
©2015 CBRE | PDF files require Adobe® Reader® - Click here to download