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Investment market on the up in NI: £134m sales show commercial property bouncing back

£134m sales in first quarter as commercial property bounces back, writes Business Editor Margaret Canning

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Big deal: Merchant Square in Belfast sold for £87m

Big deal: Merchant Square in Belfast sold for £87m

Balloo Retail Park was sold for £24.8m

Balloo Retail Park was sold for £24.8m

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Big deal: Merchant Square in Belfast sold for £87m

The sale of retail assets has helped boost the value of commercial property deals in Northern Ireland to £133.7m in early 2021 - the highest quarterly total in four years.

With the successful vaccination programme introducing an air of optimism, overseas buyers set a new record for their level of interest, accounting for 65% of deals in the first three months of the year.

Commercial property agents Lambert Smith Hampton said the tally was buoyed by the £87m sale of the new Merchant Square office building in the city centre.


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