Belfast Telegraph

Office outlook upbeat despite Northern Ireland's retail woes

By staff reporter

The retail sector in Northern Ireland is facing significant challenges, with demand for space down for the third quarter in a row, according to a survey today.

But the Royal Institution of Chartered Surveyors (RICS) and Ulster Bank Commercial Market Survey said there were bright spots in the office and industrial sectors, despite overall occupier demand going lower and the troubles facing retail.

The report said demand for retail space from both potential occupiers and investors was down for the third quarter in a row.

And while demand had fallen in the office sector, the RICS said that the outlook was more cheerful, with three-month rent and capital value expectations both upbeat.

"The 12-month picture is also encouraging with rental expectations firmly in positive territory," the RICS added.

Belfast Telegraph

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