During this time, in a deal brokered by Lisney, Capita Business Services has taken four floors in the Metro Building in Belfast’s Donegall Square. The Institute of Chartered Accountants in Ireland and Ove Arup have also secured a total of 2,323 sq m of space in Belfast. The majority of our clients have been acquiring properties in mainland UK and we currently manage 31 properties in England and Scotland from our Belfast office.
By and large conveyancer or specialist performs the methodology of property conveyancing; and conveyancing includes the exchange of property possession starting with one gathering then onto the next. The shortage of development land is driving house price growth as there is often limited competition on new housing schemes and landowners hold and refinance sites rather than build them out because values are increasing fast.
As values have risen, in order to advise bank clients more comprehensively, valuation reports are placing more reliance on planning consultants’ advice. The appetite for land seems insatiable at the moment, with many developers securing plots with or without consent and many even speculating on sites outside the development limits.
These are, of course, more medium to long term holds, but with prices rising consistently to over £2.5 million ( u 3.725 million) per ha for the first time, irrespective of location throughout the province, developers are becoming much more strategic. Also, the acquisition of a prominent 6.48 ha site on the edge of city centre for a price in excess of £40 million ( u 59.6 million) (Carvill Group) demonstrates strength in the market place which has not been seen before. In all probability, this site will end up in a mixed-use scheme with residential, commercial and leisure elements.
With rising land values, landlords are keen to exploit the prevailing conditions that, in our view, will continue for the foreseeable future assuming of course that favourable economics continue. Vacancy rates presently stand at 11.5% overall and are expected to fall further throughout the year.