Local property management firm bucks retail trend
The outlook for many retailers across Northern Ireland looks bleak, with some major retailers being recent victims of the economic downturn.
Despite this downward trend, one Belfast-based property management firm is defying the odds by developing over 10,000 sq ft of quality new retail premises just 0.5 miles from Belfast City Centre.
Ortus Property Services are currently developing the retail and retail distribution space at the Twin Spires Complex on Northumberland Street in Belfast.
When asked about the initiative, Ortus Property Manager Sean Toal commented: “Given the recent improvements to Northumberland Street carried out by Belfast City Council, Ortus saw an opportunity to expand its retail property base and create a more welcoming feel to the Twin Spires Complex.”
“With our existing retail units all being let, and with the Twin Spires Complex operating at approximately 95% let, we felt that we needed to meet the demand we have experienced for high quality, affordable retail space. The development will also fulfil some of Ortus' key social aims by stimulating economic activity and creating jobs in the area.”
The strategy has already paid off for ortus, with the majority of the 10,000 sq ft being pre-let before the units have even been completed.
When asked why the Twin Spires Complex is experiencing such demand, Mr Toal commented: “Our properties are of a very high quality and are maintained to the highest standards. This has led to us operating at full capacity.
“Our units are also let at highly competitive rates, making them affordable and allowing new businesses to grow and flourish in the area. A large part of our success can also be attributed to our committed staff and to having the other companies in the Ortus group on hand to help our tenant businesses through all aspects of business life.”
Ortus Property Services manage over 375,000 sq ft of commercial property throughout Belfast, with their property portfolio including high quality warehouse, storage, manufacturing, office and retail space.
For more information on the new retail development, or any of the business premsis offered by Ortus, please call 028 9031 1002 or visit www.ortusproperty.com