Business

Property transactions 'set to top £500m' says Lisney

Stephen Chambers (right) with Lisney’s investment director Nicky Finnieston
Stephen Chambers (right) with Lisney’s investment director Nicky Finnieston Stephen Chambers (right) with Lisney’s investment director Nicky Finnieston

BELFAST-based commercial property firm Lisney estimates that half a billion pounds of transactions will have taken place in Northern Ireland by the end of the year.

It says its investment department will complete more than £150m of business this year - around a third of the north’s annual investment transactions.

And the agency - which specialises in office, retail, leisure and industrial property acquisition - is predicting a "fruitful" 2016.

It comes as Lisney strengthens its investment team with the appointment of Stephen Chambers as an associate director.

He brings a wealth of property and banking experience with him, having previously worked in corporate banking.

And he said it was “very interesting time" for investment in Northern Ireland, where increased confidence is having significant impact on demand and pricing.

“Retail assets currently on the market and attracting strong interest include Junction One and the Outlet at a combined price of £60m and the Land Securities portfolio of foodstore and shopping centre assets at the combined guide price of £56m," he said.

“These sales will contribute significantly to the annual property investment transaction value which is now expected to be in excess of £500m for 2015.”

Working with Lisney’s investment director Nicky Finnieston, Stephen will be involved with providing advice on investment sales and acquisitions for clients and the sourcing of funds.

Mr Finnieston said: “Stephen’s experience and knowledge is a perfect fit for Lisney as we grow and expand on our existing success within the sector.

“Our investment team has been particularly active this year both locally and in Great Britain, having worked on more than £80m of notable deals including Erneside shopping centre in Enniskillen, Boots on Belfast’s Royal Avenue and the Parkway centre in Coulby Newham.

“The outlook is very positive and with deals currently in the hands of solicitors, we expect our investment team to transact just over £150m for the year.”