Belfast Telegraph

UK Website Of The Year

Planning permission for commercial property 'at lowest level since 2009'

Published 23/05/2016

Around 11,300 developments received planning approval last year said funding platform Saving Stream
Around 11,300 developments received planning approval last year said funding platform Saving Stream

Planning permission for commercial property developments have hit their lowest level since the peak of the recession, according to a new study.

Around 11,300 developments received planning approval last year, the lowest since 2009, said funding platform Saving Stream.

Lack of finance was leading to projects being "stalled", said the report.

Liam Brooke, co-founder of Saving Stream, said: "The banks just aren't able to lend to commercial development on anything like the scale that they once did, and smaller commercial developments are struggling to get off the drawing board as a result."

Read More

From Belfast Telegraph