Since the last quarterly update the situation regarding the United Kingdom’s departure from the EU has moved on somewhat. Whilst at time of going press uncertainty remains, there is a feeling that the process is nearing a conclusion.
The implications for Northern Ireland are potentially profound and it is clear that the uncertainty that preceded this weighed on the performance of both the leasing and investment markets during the course of the quarter.
For the office and industrial markets in particular, greater clarity over Brexit should help stimulate further occupier activity. There are some areas of positivity to report with the hotels sector and the retail warehouse sector showing moderate levels of activity.